Re­ally in terms of the num­ber of in­vestors we are get­ting, we will be glad to have larger vol­umes but be­ing able to get more first time in­vestors is also suc­cess for us and at the last count we had reached about 10 thou­sand for the fed­eral sav­ings bonds a

Daily Trust - - MONDAYBUSINESS -

for­ward we should be able to ex­tend it to other cap­i­tal projects. cap­i­tal projects in the bud­get for N500 bil­lion and we want to as­sure that if we is­sue a Sukuk for N500 bil­lion the mar­ket can ab­sorb it. So let’s be­gin to sen­si­tize the pub­lic, deepen that in­vestor base and we will all be the bet­ter for it.

What are the con­di­tions and pay­ment plans for the Sukuk?

The Sukuk we is­sued is a seven-year Sukuk and we will re­deem it at ma­tu­rity, mean­ing seven years from De­cem­ber last year. The rentals like our FGN bonds are paid ev­ery six months at 15.7%.

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