IslamicFinance.de

The Nigerian Stock Exchange announced the listing of the N100bn, seven-year, Federal Government Ijarah Sukuk with a rental rate of 16.47%. Director General of the Debt Management Office Ms. Patience Oniha said that the FGN Ijarah Sukuk was designed to finance critical road infrastructure across the country. She added that the proceeds would be used to further support the construction and rehabilitation of 25 roads across the six geopolitical zones of the country. According to Oscar Onyema, CEO of the Nigerian Stock Exchange, the listing has strong implications for emerging and frontier markets, which continually seek to unlock dormant pools of capital needed for economic growth and development.

Jaiz Bank is now a public quoted company listed on the Nigerian Stock Exchange. To commemorate the listing, Jaiz Bank’s Executive Management, led by Chairman Dr Umaru Abdul Mutallab, were honoured with a closing gong ceremony to officially close trading on the bourse for the day. Hassan Usman, Jaiz Bank's CEO noted that the listing of the bank’s shares was a fulfillment of an earlier promise made at inception of the Bank. He added that the listing would elicit public confidence that Non-Interest Banking provides alternative model that contributes to the socio-economic development of the country. Oscar Onyema, CEO of the Nigerian Stock Exchange, said this listing would promote liquidity for the bank, enhance its value and increase its transparency.