Announcements

Buhari drags Nigeria to the Arab world, prepares for first Islamic bond

Reply to topic

View previous topic View next topic Go down

Paradise
Paradise
Administrator
Administrator
Gender Gender : Male
Time Online : 8d 2h 28m 2s
State : Ph
My Club My Club : Barcelona
Posts : 1044 Posts Liked : 381
Awards :

View user profile

PostParadise on Tue 20 Dec 2016, 7:09 pm

Buhari drags Nigeria to the Arab world, prepares for first Islamic bond Image20161220092513

Nigeria is looking for financial and legal advisers and trustee firms to organise its first Islamic bond in the domestic market, the country's Debt Management Office (DMO) said on Monday.

The OPEC member, which is Africa's largest economy, is working on a debut sovereign sukuk but has yet to determine the size of a potential deal.
Nigeria, which is in a recession and needs to raise funds to plug a budget deficit, has set up a government committee to advise on the amount to be raised from the Islamic bond sale, the timing and jurisdiction of the issue.

Issuance of a sovereign sukuk is part of a plan by Nigeria's debt office to develop alternative sources of funding and to establish a benchmark curve.
In a public notice, the DMO said it required the services of banks and an issuing house to serve as financial adviser, a legal firm to serve as a legal adviser and a trustee firm. It said bids for the roles are to be submitted by Jan. 9.

The advisers are expected to work with the debt office towards the sukuk issue at a date that is yet to be announced.
In October, the central bank issued guidelines limiting commercial banks' investment in Islamic bonds issued by state governments to 10 percent of the total amount on offer and fixed a maximum tenor of 10 years for the bonds.

Nigeria has the largest Islamic population in sub-Saharan Africa. Around half of the 180 million people in Africa's most populous nation are Muslims.


Hello Guest !  Thanks for coming over to IGBOISTS FORUM and reading this post. Hope it was helpful? We do wish you come back as many other nice posts will always be available.
Tessyp
Tessyp
Lv2: Member
Lv2: Member
Time Online : 1m 51s
My Club My Club : Chelsea
Posts : 85 Posts Liked : 26
View user profile

PostTessyp on Tue 20 Dec 2016, 7:48 pm

Why Arab countries? Buhari is a joke
Biafranpalace
Biafranpalace
Lv3: Senior Member
Lv3: Senior Member
Time Online : 5s
My Club My Club : Liverpool
Posts : 300 Posts Liked : 76
View user profile

PostBiafranpalace on Tue 20 Dec 2016, 7:52 pm

Biafrans Watch out Buhari Planning to Islamize Nigeria. It has begun Gradually and gradually. He began by connecting pipe lines fron Niger Republic which is Islamic country. Secondly, king of morroco visited, Buhari signs a deal with another Islamic country... Now buhari rushing to Arab world... Biafrans Watch out ooo


WWW.BIAFRANPALACE.AFRICAMOTION.NET saluting , THE VOICE SPEAKING OUTSIDE RADIO BIAFRA LONDON FACEBOOK PAGE
Sponsored content

PostSponsored content

View previous topic View next topic Back to top

Create an account or log in to leave a reply

You need to be a member in order to leave a reply.

Create an account

Join our community by creating a new account. It's easy!


Create a new account

Log in

Already have an account? No problem, log in here.


Log in

Reply to topic
 
Permissions in this forum:
You can reply to topics in this forum