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The Debt Management Office (DMO) on behalf of Federal Government is issuing a 7–year FGN Sovereign Ijarah Sukuk Due 2024 at a return of 16.47%. Sukuk is an investment certificate that represents ownership interest of the holder in an asset or pool of assets.

The Offer for Subscription opened on Thursday, September 14, 2017 and will close on Wednesday September 20, 2017. We highlight below the details of the FGN Sovereign Ijarah Sukuk that the DMO released to the public:

How to Invest in the FGN Sovereign Ijarah Sukuk

Please print and carefully complete the application form. A copy of the application form is attached to this email.

Issue a cheque/draft or transfer the amount you intend to invest into the following bank account:

Purpose

  • To fund the construction/rehabilitation of key economic infrastructure projects
  • To diversify the sources of government funding
  • To offer ethical investors an opportunity to invest in government issued securities
  • To achieve a higher level of financial inclusion

Benefits

  • Regular cash flow, as rental income will be paid half yearly to Sukuk holders
  • Rental Income is tax free
  • Classified as liquid asset by the Central Bank of Nigeria (CBN)
  • Good security for diversification of asset portfolio
  • Good investment opportunity for ethical investors
  • Acceptable as collateral for loans by banks and other financial institution
  • Safety: backed by the full faith and credit of the FGN.

Features

  • The minimum subscription amount of N10,000 (i.e. 10 units@N1,000/unit) and in multiples of N1,000 (1unit) thereafter
  • Tenor – Seven years

 

This article was sourced from FSDH Securities Limited.

 

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