Following the success of the first Federal Government of Nigeria (FGN) Sukuk Bond in 2017, FBNQuest Merchant Bank Limited has again been appointed as co-financial adviser to the Debt Management Office (DMO) on the issuance of the second N100 billion Sukuk offer.
The Sukuk 2 offer is aimed at consolidating on the gains of the Sukuk 1 by injecting an additional N100billion, which would be directed at funding more infrastructure development projects across the country.
The Sukuk further seeks to diversify the FGN’s source of funding, deepen the market for domestic securities and improve financial inclusion, particularly for ethical investors. The Sukuk II offer would open to the public from December 6, 2018 to December 17, 2018.
The first Sovereign Sukuk bond was debuted by the FGN in September 2017, with FBNQuest Merchant Bank selling over 65 per cent of the total subscriptions to both institutional and retail investors.
A major benefit of the Sukuk 2 is its low-risk investment…
