DMO Issues 2022 Ijarah N100bn Sukuk for Roads Infrastructure in Nigeria  

The Debt Management Office (DMO) last week announced the issuance of the N100bn Ijarah Sukuk for Roads Infrastructure in Nigeria. This will be the 5^th issuance since 2017, and so far over N612bn has been raised for building/ rehabilitation of 71 roads and 4 bridges across Nigeria. The Sukuk offer closes tomorrow Tuesday, 29^th, November 2022.

Pomegranate Raises N2.25bn Al-Ijarah 3-Year Note Sukuk

Pomegranate Nigeria Limited announced that it successfully raised N2.25billion Al-Ijarah Sukuk 3-year Note through WealthBridge Capital Partners Limited.

This was done in partnership with United Capital Trustees Limited as Lead Trustees. The Private Sukuk Al-Ijarah will be deployed to purchase 40 new logistic trucks.

IsDB to Support Global Food Security Efforts with $10.5bn

The President of the Islamic Development Bank, IsDB H.E Dr. Muhammad Sulaiman Al Jasser announced that it will contribute $10.5bn to a programme that will scale up food security shocks globally. 

He made this point at the Global forum on Sustainable Development Goals which brought together stakeholders across international financial institutions and other key development agencies.

Nigeria Needs Tech and Gender-based Sukuk Investments to Attract Young Investors and Women

Nigeria's Sukuk market has still not attracted young retail investors. Industry analysts believe that there is a need for the non-Interest finance sector to design tech and gender based Sukuk investments. Dr. Basheer Oshodi, Trust Arthur's Chief Executive Officer (CEO), made this point while discussing "Sukuk, Infrastructure Development and Inclusive Growth in Nigeria." 

He says this can be achieved through the fintech industry, catalyzing the investment pool that can support technology start-ups and women-led businesses.