To Build Roads, DMO is Requesting N100 billion.

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The issue of N100 billion in Ijarah Sukuk bonds for subscriptions has been announced by the Debt Management Office. The money would go toward building and maintaining a number of important key roadways around the nation.

The bonds were sold at a rate of 15. 64 percent annually and are due in 2032, according to a statement posted on the DMO website.

The bonds’ ten-year subscription period began on Monday and would end on November 29, 2022. The CBN will classify the bonds as a liquid asset, and the CBN’s Financial Regulations Advisory Council of Experts will certify that they are. The bonds will be listed on the Nigerian Exchange Ltd. and the FMDQ Securities Exchange.

Sukuk bonds have supplied the Federal Government with N612.56 billion since they were first launched in 2017, and they have aided  in funding 71 roads and six bridges, measuring 1,881 kilometres across the country.

Punch.

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