The ethical instrument Sukuk, which the Debt Management Office created in 2017, has pleased both the federal government and investors, according to the office’s Director-General (D-G), Ms. Patience Oniha.
She said that the enormous investment through which the federal government has raised N742 billion for infrastructure development across the country is an eloquent evidence of investors’ strong desire for Sukuk while speaking at a meeting with investors in Abuja this afternoon.
The head of DMO stated that the federal government was committed to ensuring value for borrowed money through the project-related Sukuk and added that “everyone can see the roads and bridges being constructed or rehabilitated through Sukuk.”
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According to Ms. Oniha, because of the crucial role that infrastructure development plays in the expansion and development of any economy, the federal government is giving it the necessary attention.
She invited individuals and corporate entities to make significant investments in the instrument as part of their contributions to the nation’s infrastructure development.
She stated that the Sukuk VI’s revenues would be used to build or restore infrastructure in all six geopolitical zones.
Mr. Hassan Usman of Buraq Capital Limited, a former managing director of Jaiz Bank, presented the sukuk as a particularly alluring ethical instrument because the revenues would only be used for projects that the Trustees had approved in his presentation.
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