Niger Seeks Approval of N25 Billion Sukuk Bond


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Abubakar Sani Bello

The Nigerian Laleye Dipo In Minna

Niger State Governor, Alhaji Abubakar Bello has written to the House of Assembly, requesting legislative approval to secure a N25billion Sukuk bond.

When acquired, according to the governor, the bond will be used for the construction of some critical roads and other projects.

The request was revealed in a letter addressed to the Speaker, Niger State House of Assembly, Mt Abdullahi Wuse on Friday.

The letter read in part: “The purpose of this request is to seek the approval of the Niger Assembly for the government of Niger state to raise N25 billion through a Sukuk Bond issuance programme in multiple sand consecutive tranches

“We also ask for permission to issue irrevocable standing payment orders for the repayment of the bond,” the governor said in the letter read on the floor of the house.

He added that the bond would be issued in two tranches of N15 billion and N10 billion and…

Source: Thisday Newspaper