Ndubuisi Francis in Abuja
The Debt Management Office (DMO) yesterday opened subscriptions for a N300 billion Series V11 Ijarah Sukuk with a seven-year tenor and annual rental rate (interest) of 19.75 per cent as part of federal government’s domestic funding sources for the 2025 budget.
The offer – the seventh in the series of Sukuk issuance, and the highest since the Islamic investment instrument made its debut in Nigeria in September 2017, would bring total subscriptions so far to about N1.09 trillion.