• +234 811 8877 562, +234 811 8877 564
  • info@naccima.com, naccima30@yahoo.co.uk

The Debt Management Office (DMO) on behalf of the Federal Government will be issuing a 7-year FGN Sovereign Ijarah Sukuk Due 2024. The offer will be opened on Wednesday, June 28, 2017 to the investing public and will run for three (3) working days.

 
 Issuer FGN Roads Sukuk Company 1 Plc on behalf of the Federal Government of Nigeria (FGN)
Instrument 7- Year FGN Sovereign Ijarah Sukuk Due 2024
Issue Size ₦100 billion
Unit of Issue ₦1,000 Per Unit
Minimum Subscription N10,000 (i.e. 10 units @N1,000/unit) and in multiples of N1,000 (1unit) thereafter
Rental Rate To be announced by the DMO
Use of Proceeds Construction of key economic roads across 6 geo-political zones in Nigeria
Profit Payment Half-yearly
Redemption Bullet repayment at maturity
Periodic Distributions Sukuk holders will receive an amount calculated at the Rental Rate of [[●]%] per annum on the outstanding aggregate Sukuk
Security Backed by the full faith and credit of the Federal Government of Nigeria.
Clearing System CSCS
Listing NSE and FMDQ
Paying Agent Central Bank of Nigeria
Status
  •  Qualifies as securities in which trustees can invest under the Trustee Investment Act.
  • Qualifies as Government securities within the meaning of Company Income Tax Act (“CITA”) and Personal Income Tax Act (“PITA”) for tax exemption for Pension Funds, amongst other investors.
  • Listed on The Nigerian Stock Exchange and FMDQ OTC Securities Exchange.
  • Qualifies as a liquid asset for liquidity ratio calculation for banks
  • Qualifies as allowable instrument for Pension Fund Administrators
Governing Law The Sukuk will be governed by, and construed in accordance with the laws of the Federal Republic of Nigeria as well as relevant section in the Islamic law of Mu’amalat

For further clarification and information, and to indicate your interest, contact the following persons at Afrinvest Securities Limited

Lagos:                Bolaji - +234 812 175 9032
Port Harcourt:     Taiwo - +234 808718 4771
Abuja:                Bola - +234 909 504 1827
Email –               This email address is being protected from spambots. You need JavaScript enabled to view it.

Upcoming Events

The US-Nigeria Agribusiness Investment Summit is an annual high level expo of agribusiness ecosystem across Nigeria and the United States of America with a focus on agriculture and value addition of the two Countries. The Summit aims to consolidate the gains that have been made in Nigeria’s agriculture environment, and at the same time, to provide solutions to the challenges that bedevil agricultural production, post-harvest management, value addition and market access in the country.

Date: November 16-18, 2017
Venue: Hilton Atlanta Airport Hotel, Atlanta, GA. 1031 Virginia Avenue, Atlanta GA 30354, USA

For more information, visit http://usnagris.com/

The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) and Nigerian Incentive-Based Risk Sharing System for Agriculture Lending (NIRSAL) in collaboration with the Federal Ministry of Agriculture & Rural Development (FMARD) working in cooperation with Bank of Agriculture (BOA), Bank of Industry (BOI), Nigerian Agricultural Insurance Corporation (NAIC) and Infrastructure Concession Regulatory Commission (ICRC) present the NACCIMA-NIRSAL Economic Recovery Agri-Agro Summit 2017 with the theme: Nigeria Open for Agric-Business: Unlocking the potentials of Agriculture for Economic Revival and Sustainability

Venue: International Conference Center, Abuja
Date: 29th November - 1st December 2017
Time: 7am Daily

For registration details, visit www.eraas.ng