Nigeria plans to sell a 100 billion naira ($328 mln) debut sovereign sukuk in the local market this month to help fund road projects, the Debt Management Office (DMO) said on Tuesday.
The Islamic bond with a 7-year tenor will go on sale on June 28 for three days via book building, the DMO said. The bond will be tradable on the Nigerian Stock Exchange and on FMDQ over-the-counter platform.
Nigeria is home to the largest Islamic population in sub-Saharan Africa, with about half of its 180 million people Muslims. It is also home to one of Africa's fastest-growing consumer and corporate banking sectors.
http://www.salaamgateway.com/en/story/nigeria_to_sell_100_bln_naira_debut_sukuk_this_month__dmo-SALAAM14062017041803/
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