NACCIMA - Afrinvest Securities: Investment Opportunity in Treasury Bills
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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.