Investors Rush As the Fed Government’s N100 billion Sukuk Closes.

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The offer period for the federal government’s continuing sovereign Sukuk is coming to an end. Therefore, investors are scrambling to submit their applications before the deadline.

For the purpose of funding additional road projects all across the nation, the federal government is attempting to raise N100 billion. The list of applicants for the N100 billion Sukuk will expire soon.

An oversubscription of N519. 12 billion was recorded for Nigeria’s third N150 billion sovereign Sukuk issuance, continuing a trend that began with the country’s first issuance in 2017.

Considering the rising popularity and robust investor demand for these alternative non-interest bonds, Office Ms. Patience Oniha had stated that the government recognized the need to issue additional Sukuk bonds.

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