The Debt Management Office (DMO) on behalf of the Federal Government of Nigeria, begins offering for subscription of N100bn 10-year Sukuk due 2032 at 15.64% per annum.

The subscription offer opens today and closes November 29, 2022.

Sukuk bonds are structured to generate returns to ethical investors without infringing on the Islamic principles which forbid interest payments. It represents an ownership interest in the asset to be financed rather than in a debt obligation.

The aim of the FGN Sukuk is to promote financial inclusion and deepen the investor base of FGN securities, according to the DMO.

It will be deployed to financing infrastructure, in keeping with the Nigerian government’s commitment to bridging the infrastructural gap across the country.

DMO said, “To invest, you can contact your bank or stockbroker, contact the issuing houses above or download and complete the application form at www.dmo.gov.ng.”

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