Now open: FGN Series IV Sukuk Issuance

The Debt Management Office Nigeria (“DMO”) has mandated Stanbic IBTC Capital Limited as a Joint Issuing House for the up to N250 billion Federal Government of Nigeria (“FGN”) Series IV Sovereign Sukuk issuance (the “Issue”). We are pleased to announce that the Issue is now open and scheduled to close at 2.00pm on Wednesday, 22 December 2021.

The DMO commenced the issuance of Sovereign Sukuk in September 2017 as a strategic initiative to support the development of infrastructure, promote financial inclusion and deepen the domestic securities market. As with previous issuances, the proceeds of the Issue will be used to finance the rehabilitation and construction of road projects which have been identified by the Federal Ministry of Works and Housing, Federal Capital Territory Administration, and the Ministry of Niger Delta Affairs.