According to a Debt Management Office review of the Federal Government’s domestic debt service report for each quarter, Rent on Sukuk bonds has increased from N8.17 billion in the first quarter of 2022 to N33.13 billion in the second quarter.
This represents a 305.51 percent increase.
Islamic finance uses sukuk, a bond-like instrument that complies with sharia law.
[wonderplugin_video iframe=”https://youtu.be/EUCI9QSdy3A” lightbox=0 lightboxsize=1 lightboxwidth=960 lightboxheight=540 autoopen=0 autoopendelay=0 autoclose=0 lightboxtitle=”” lightboxgroup=”” lightboxshownavigation=0 showimage=”” lightboxoptions=”” videowidth=600 videoheight=400 keepaspectratio=1 autoplay=0 loop=0 videocss=”position:relative;display:block;background-color:#000;overflow:hidden;max-width:100%;margin:0 auto;” playbutton=”https://www.tvcnews.tv/wp-content/plugins/wonderplugin-video-embed/engine/playvideo-64-64-0.png”]
A certificate of ownership is provided by the Federal Government to investors who purchase Sukuk bonds.
The money is used to invest in national assets in which the investor has a portion of ownership.
Additionally, the Federal Government makes a legally-binding commitment to repurchase the bond at a predetermined later date. The investors earn corresponding rental income on their investments.
DMO Director of Portfolio Management, Mr Oladele Afolabi, said although it was a non-interest loan, the government was expected to pay rents on the roads to the Sukuk investors during the tenure of the loan.
He said, “Government transfers its roads to Sukuk holders for that period. So, they become legal owners of that road. Government is now renting the roads from them so that citizens can travel on those roads. The government pays rent to the Sukuk holders based on an agreed rental rate payable every six months.”
The DMO DG, Ms Patience Oniha, has been reported as saying that “rental payments will be credited bi-annually, directly to the investors’ bank accounts as and when due. At maturity, the principal investment will also be credited directly to the bank accounts specified by the investors in their application forms.”
In a separate document on the website of the DMO titled ‘FGN Sukuk Rental Payment Dates’, it was disclosed that only one payment was made in Q1 2022, which was done on March 26.
However, three rental payments were made in Q2 2022, precisely on June 16, 28 and 29.
By Q3 2022 payment was to be paid in September, while three rental payments are expected in Q4 2022 in December.
According to a Debt Management Office review of the Federal Government’s domestic debt service report for each quarter, Rent on Sukuk bonds has increased from N8.17 billion in the first quarter of 2022 to N33.13 billion in the second quarter.
This represents a 305.51 percent increase.
Islamic finance uses sukuk, a bond-like instrument that complies with sharia law.
[wonderplugin_video iframe=”https://youtu.be/EUCI9QSdy3A” lightbox=0 lightboxsize=1 lightboxwidth=960 lightboxheight=540 autoopen=0 autoopendelay=0 autoclose=0 lightboxtitle=”” lightboxgroup=”” lightboxshownavigation=0 showimage=”” lightboxoptions=”” videowidth=600 videoheight=400 keepaspectratio=1 autoplay=0 loop=0 videocss=”position:relative;display:block;background-color:#000;overflow:hidden;max-width:100%;margin:0 auto;” playbutton=”https://www.tvcnews.tv/wp-content/plugins/wonderplugin-video-embed/engine/playvideo-64-64-0.png”]
A certificate of ownership is provided by the Federal Government to investors who purchase Sukuk bonds.
The money is used to invest in national assets in which the investor has a portion of ownership.
Additionally, the Federal Government makes a legally-binding commitment to repurchase the bond at a predetermined later date. The investors earn corresponding rental income on their investments.
DMO Director of Portfolio Management, Mr Oladele Afolabi, said although it was a non-interest loan, the government was expected to pay rents on the roads to the Sukuk investors during the tenure of the loan.
He said, “Government transfers its roads to Sukuk holders for that period. So, they become legal owners of that road. Government is now renting the roads from them so that citizens can travel on those roads. The government pays rent to the Sukuk holders based on an agreed rental rate payable every six months.”
The DMO DG, Ms Patience Oniha, has been reported as saying that “rental payments will be credited bi-annually, directly to the investors’ bank accounts as and when due. At maturity, the principal investment will also be credited directly to the bank accounts specified by the investors in their application forms.”
In a separate document on the website of the DMO titled ‘FGN Sukuk Rental Payment Dates’, it was disclosed that only one payment was made in Q1 2022, which was done on March 26.
However, three rental payments were made in Q2 2022, precisely on June 16, 28 and 29.
By Q3 2022 payment was to be paid in September, while three rental payments are expected in Q4 2022 in December.
According to a Debt Management Office review of the Federal Government’s domestic debt service report for each quarter, Rent on Sukuk bonds has increased from N8.17 billion in the first quarter of 2022 to N33.13 billion in the second quarter.
This represents a 305.51 percent increase.
Islamic finance uses sukuk, a bond-like instrument that complies with sharia law.
[wonderplugin_video iframe=”https://youtu.be/EUCI9QSdy3A” lightbox=0 lightboxsize=1 lightboxwidth=960 lightboxheight=540 autoopen=0 autoopendelay=0 autoclose=0 lightboxtitle=”” lightboxgroup=”” lightboxshownavigation=0 showimage=”” lightboxoptions=”” videowidth=600 videoheight=400 keepaspectratio=1 autoplay=0 loop=0 videocss=”position:relative;display:block;background-color:#000;overflow:hidden;max-width:100%;margin:0 auto;” playbutton=”https://www.tvcnews.tv/wp-content/plugins/wonderplugin-video-embed/engine/playvideo-64-64-0.png”]
A certificate of ownership is provided by the Federal Government to investors who purchase Sukuk bonds.
The money is used to invest in national assets in which the investor has a portion of ownership.
Additionally, the Federal Government makes a legally-binding commitment to repurchase the bond at a predetermined later date. The investors earn corresponding rental income on their investments.
DMO Director of Portfolio Management, Mr Oladele Afolabi, said although it was a non-interest loan, the government was expected to pay rents on the roads to the Sukuk investors during the tenure of the loan.
He said, “Government transfers its roads to Sukuk holders for that period. So, they become legal owners of that road. Government is now renting the roads from them so that citizens can travel on those roads. The government pays rent to the Sukuk holders based on an agreed rental rate payable every six months.”
The DMO DG, Ms Patience Oniha, has been reported as saying that “rental payments will be credited bi-annually, directly to the investors’ bank accounts as and when due. At maturity, the principal investment will also be credited directly to the bank accounts specified by the investors in their application forms.”
In a separate document on the website of the DMO titled ‘FGN Sukuk Rental Payment Dates’, it was disclosed that only one payment was made in Q1 2022, which was done on March 26.
However, three rental payments were made in Q2 2022, precisely on June 16, 28 and 29.
By Q3 2022 payment was to be paid in September, while three rental payments are expected in Q4 2022 in December.
According to a Debt Management Office review of the Federal Government’s domestic debt service report for each quarter, Rent on Sukuk bonds has increased from N8.17 billion in the first quarter of 2022 to N33.13 billion in the second quarter.
This represents a 305.51 percent increase.
Islamic finance uses sukuk, a bond-like instrument that complies with sharia law.
[wonderplugin_video iframe=”https://youtu.be/EUCI9QSdy3A” lightbox=0 lightboxsize=1 lightboxwidth=960 lightboxheight=540 autoopen=0 autoopendelay=0 autoclose=0 lightboxtitle=”” lightboxgroup=”” lightboxshownavigation=0 showimage=”” lightboxoptions=”” videowidth=600 videoheight=400 keepaspectratio=1 autoplay=0 loop=0 videocss=”position:relative;display:block;background-color:#000;overflow:hidden;max-width:100%;margin:0 auto;” playbutton=”https://www.tvcnews.tv/wp-content/plugins/wonderplugin-video-embed/engine/playvideo-64-64-0.png”]
A certificate of ownership is provided by the Federal Government to investors who purchase Sukuk bonds.
The money is used to invest in national assets in which the investor has a portion of ownership.
Additionally, the Federal Government makes a legally-binding commitment to repurchase the bond at a predetermined later date. The investors earn corresponding rental income on their investments.
DMO Director of Portfolio Management, Mr Oladele Afolabi, said although it was a non-interest loan, the government was expected to pay rents on the roads to the Sukuk investors during the tenure of the loan.
He said, “Government transfers its roads to Sukuk holders for that period. So, they become legal owners of that road. Government is now renting the roads from them so that citizens can travel on those roads. The government pays rent to the Sukuk holders based on an agreed rental rate payable every six months.”
The DMO DG, Ms Patience Oniha, has been reported as saying that “rental payments will be credited bi-annually, directly to the investors’ bank accounts as and when due. At maturity, the principal investment will also be credited directly to the bank accounts specified by the investors in their application forms.”
In a separate document on the website of the DMO titled ‘FGN Sukuk Rental Payment Dates’, it was disclosed that only one payment was made in Q1 2022, which was done on March 26.
However, three rental payments were made in Q2 2022, precisely on June 16, 28 and 29.
By Q3 2022 payment was to be paid in September, while three rental payments are expected in Q4 2022 in December.
According to a Debt Management Office review of the Federal Government’s domestic debt service report for each quarter, Rent on Sukuk bonds has increased from N8.17 billion in the first quarter of 2022 to N33.13 billion in the second quarter.
This represents a 305.51 percent increase.
Islamic finance uses sukuk, a bond-like instrument that complies with sharia law.
[wonderplugin_video iframe=”https://youtu.be/EUCI9QSdy3A” lightbox=0 lightboxsize=1 lightboxwidth=960 lightboxheight=540 autoopen=0 autoopendelay=0 autoclose=0 lightboxtitle=”” lightboxgroup=”” lightboxshownavigation=0 showimage=”” lightboxoptions=”” videowidth=600 videoheight=400 keepaspectratio=1 autoplay=0 loop=0 videocss=”position:relative;display:block;background-color:#000;overflow:hidden;max-width:100%;margin:0 auto;” playbutton=”https://www.tvcnews.tv/wp-content/plugins/wonderplugin-video-embed/engine/playvideo-64-64-0.png”]
A certificate of ownership is provided by the Federal Government to investors who purchase Sukuk bonds.
The money is used to invest in national assets in which the investor has a portion of ownership.
Additionally, the Federal Government makes a legally-binding commitment to repurchase the bond at a predetermined later date. The investors earn corresponding rental income on their investments.
DMO Director of Portfolio Management, Mr Oladele Afolabi, said although it was a non-interest loan, the government was expected to pay rents on the roads to the Sukuk investors during the tenure of the loan.
He said, “Government transfers its roads to Sukuk holders for that period. So, they become legal owners of that road. Government is now renting the roads from them so that citizens can travel on those roads. The government pays rent to the Sukuk holders based on an agreed rental rate payable every six months.”
The DMO DG, Ms Patience Oniha, has been reported as saying that “rental payments will be credited bi-annually, directly to the investors’ bank accounts as and when due. At maturity, the principal investment will also be credited directly to the bank accounts specified by the investors in their application forms.”
In a separate document on the website of the DMO titled ‘FGN Sukuk Rental Payment Dates’, it was disclosed that only one payment was made in Q1 2022, which was done on March 26.
However, three rental payments were made in Q2 2022, precisely on June 16, 28 and 29.
By Q3 2022 payment was to be paid in September, while three rental payments are expected in Q4 2022 in December.
According to a Debt Management Office review of the Federal Government’s domestic debt service report for each quarter, Rent on Sukuk bonds has increased from N8.17 billion in the first quarter of 2022 to N33.13 billion in the second quarter.
This represents a 305.51 percent increase.
Islamic finance uses sukuk, a bond-like instrument that complies with sharia law.
[wonderplugin_video iframe=”https://youtu.be/EUCI9QSdy3A” lightbox=0 lightboxsize=1 lightboxwidth=960 lightboxheight=540 autoopen=0 autoopendelay=0 autoclose=0 lightboxtitle=”” lightboxgroup=”” lightboxshownavigation=0 showimage=”” lightboxoptions=”” videowidth=600 videoheight=400 keepaspectratio=1 autoplay=0 loop=0 videocss=”position:relative;display:block;background-color:#000;overflow:hidden;max-width:100%;margin:0 auto;” playbutton=”https://www.tvcnews.tv/wp-content/plugins/wonderplugin-video-embed/engine/playvideo-64-64-0.png”]
A certificate of ownership is provided by the Federal Government to investors who purchase Sukuk bonds.
The money is used to invest in national assets in which the investor has a portion of ownership.
Additionally, the Federal Government makes a legally-binding commitment to repurchase the bond at a predetermined later date. The investors earn corresponding rental income on their investments.
DMO Director of Portfolio Management, Mr Oladele Afolabi, said although it was a non-interest loan, the government was expected to pay rents on the roads to the Sukuk investors during the tenure of the loan.
He said, “Government transfers its roads to Sukuk holders for that period. So, they become legal owners of that road. Government is now renting the roads from them so that citizens can travel on those roads. The government pays rent to the Sukuk holders based on an agreed rental rate payable every six months.”
The DMO DG, Ms Patience Oniha, has been reported as saying that “rental payments will be credited bi-annually, directly to the investors’ bank accounts as and when due. At maturity, the principal investment will also be credited directly to the bank accounts specified by the investors in their application forms.”
In a separate document on the website of the DMO titled ‘FGN Sukuk Rental Payment Dates’, it was disclosed that only one payment was made in Q1 2022, which was done on March 26.
However, three rental payments were made in Q2 2022, precisely on June 16, 28 and 29.
By Q3 2022 payment was to be paid in September, while three rental payments are expected in Q4 2022 in December.
According to a Debt Management Office review of the Federal Government’s domestic debt service report for each quarter, Rent on Sukuk bonds has increased from N8.17 billion in the first quarter of 2022 to N33.13 billion in the second quarter.
This represents a 305.51 percent increase.
Islamic finance uses sukuk, a bond-like instrument that complies with sharia law.
[wonderplugin_video iframe=”https://youtu.be/EUCI9QSdy3A” lightbox=0 lightboxsize=1 lightboxwidth=960 lightboxheight=540 autoopen=0 autoopendelay=0 autoclose=0 lightboxtitle=”” lightboxgroup=”” lightboxshownavigation=0 showimage=”” lightboxoptions=”” videowidth=600 videoheight=400 keepaspectratio=1 autoplay=0 loop=0 videocss=”position:relative;display:block;background-color:#000;overflow:hidden;max-width:100%;margin:0 auto;” playbutton=”https://www.tvcnews.tv/wp-content/plugins/wonderplugin-video-embed/engine/playvideo-64-64-0.png”]
A certificate of ownership is provided by the Federal Government to investors who purchase Sukuk bonds.
The money is used to invest in national assets in which the investor has a portion of ownership.
Additionally, the Federal Government makes a legally-binding commitment to repurchase the bond at a predetermined later date. The investors earn corresponding rental income on their investments.
DMO Director of Portfolio Management, Mr Oladele Afolabi, said although it was a non-interest loan, the government was expected to pay rents on the roads to the Sukuk investors during the tenure of the loan.
He said, “Government transfers its roads to Sukuk holders for that period. So, they become legal owners of that road. Government is now renting the roads from them so that citizens can travel on those roads. The government pays rent to the Sukuk holders based on an agreed rental rate payable every six months.”
The DMO DG, Ms Patience Oniha, has been reported as saying that “rental payments will be credited bi-annually, directly to the investors’ bank accounts as and when due. At maturity, the principal investment will also be credited directly to the bank accounts specified by the investors in their application forms.”
In a separate document on the website of the DMO titled ‘FGN Sukuk Rental Payment Dates’, it was disclosed that only one payment was made in Q1 2022, which was done on March 26.
However, three rental payments were made in Q2 2022, precisely on June 16, 28 and 29.
By Q3 2022 payment was to be paid in September, while three rental payments are expected in Q4 2022 in December.
According to a Debt Management Office review of the Federal Government’s domestic debt service report for each quarter, Rent on Sukuk bonds has increased from N8.17 billion in the first quarter of 2022 to N33.13 billion in the second quarter.
This represents a 305.51 percent increase.
Islamic finance uses sukuk, a bond-like instrument that complies with sharia law.
[wonderplugin_video iframe=”https://youtu.be/EUCI9QSdy3A” lightbox=0 lightboxsize=1 lightboxwidth=960 lightboxheight=540 autoopen=0 autoopendelay=0 autoclose=0 lightboxtitle=”” lightboxgroup=”” lightboxshownavigation=0 showimage=”” lightboxoptions=”” videowidth=600 videoheight=400 keepaspectratio=1 autoplay=0 loop=0 videocss=”position:relative;display:block;background-color:#000;overflow:hidden;max-width:100%;margin:0 auto;” playbutton=”https://www.tvcnews.tv/wp-content/plugins/wonderplugin-video-embed/engine/playvideo-64-64-0.png”]
A certificate of ownership is provided by the Federal Government to investors who purchase Sukuk bonds.
The money is used to invest in national assets in which the investor has a portion of ownership.
Additionally, the Federal Government makes a legally-binding commitment to repurchase the bond at a predetermined later date. The investors earn corresponding rental income on their investments.
DMO Director of Portfolio Management, Mr Oladele Afolabi, said although it was a non-interest loan, the government was expected to pay rents on the roads to the Sukuk investors during the tenure of the loan.
He said, “Government transfers its roads to Sukuk holders for that period. So, they become legal owners of that road. Government is now renting the roads from them so that citizens can travel on those roads. The government pays rent to the Sukuk holders based on an agreed rental rate payable every six months.”
The DMO DG, Ms Patience Oniha, has been reported as saying that “rental payments will be credited bi-annually, directly to the investors’ bank accounts as and when due. At maturity, the principal investment will also be credited directly to the bank accounts specified by the investors in their application forms.”
In a separate document on the website of the DMO titled ‘FGN Sukuk Rental Payment Dates’, it was disclosed that only one payment was made in Q1 2022, which was done on March 26.
However, three rental payments were made in Q2 2022, precisely on June 16, 28 and 29.
By Q3 2022 payment was to be paid in September, while three rental payments are expected in Q4 2022 in December.
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