The FGN Sukuk is an investment product that is being issued by the Federal Government of Nigeria through the Debt Management Office (DMO). The purpose of the Sukuk is to offer investors the opportunity to earn returns and contribute to the infrastructure development of the Nigeria.

Sukuk represents undivided shares in the ownership of tangible assets relating to projects, special investment activity, business or joint venture. Sukuk are widely accepted as an important institutional finance instrument to raise capital by both private and public institutions.

The FGN’s Sukuk issuance is the first attempt by the Federal Government to raise funds through the non-interest capital market and aimed at direct infrastructure development and promotion of financial inclusion. This offer is the culmination of several years of pioneering efforts by financial service regulators – the Central Bank of Nigeria, the Securities and Exchange Commission, the Federal Inland Revenue Service, the National Insurance Commission and the National Pension Commission. The Sukuk offer will be deployed for the construction of twenty five major federal roads and bridges across Nigeria’s six geopolitical zones. For more information on the FGN Sukuk click here. Click here to access the frequently asked questions (FAQs).

Offer Opening Date: 14 September, 2017
Offer Closing Date: : 20 September, 2017

Benefits of the FGN Sukuk
  • Investments with as little as N10, 000 (N1, 000 per unit subject to a minimum subscription of N10, 000 and in multiples of N1, 000 thereafter.
  • Listed on the NSE & FMDQ
  • Rental payment: fixed, payable half yearly
  • The Sukuk is secured by the full faith and credit of the Federal Government of Nigeria
  • The Sukuk are traded like bonds issued by the Federal Government of Nigeria and as such, the rental income is exempt from taxes – companies’ income, personal income, capital gains, and value added taxes.
  • Investors who wish to cash out their investment in the Sukuk before maturity can trade the Sukuk on the floors of the Nigerian Stock Exchange and FMDQ OTC Securities Exchange for immediate cash.
  • The Sukuk qualifies as:
    • Securities in which Pension Fund Administrators may invest under the Pension Reform Act, Cap P4, LFN 2004;
    • Securities in which trustees can invest under the Trustee Investment Act;
    • Liquid assets in the estimation of the liquidity ratios of banks by the Central Bank of Nigeria;
    • Government securities within the meaning of Company Income Tax Act (“CITA”) and Personal Income Tax Act (“PITA”)
Subscription mode
  • Open a CSCS stockbroking account with FBN Securities Limited. Please click here to access our account opening forms for this purpose; (N.B: Existing stockbroking clients with CSCS account numbers will only need to provide their CSCS account details).
  • Obtain the FGN Sukuk Bond subscription form here
  • Make payment for subscriptions to any of the accounts below within the subscription period.
Bank Name Account Name Account Number
First Bank of Nigeria Limited FGN Roads Sukuk Issue Proceeds 2032267642
Stanbic IBTC Bank PLC FGN Roads Sukuk Issue Proceeds 0022373451
Zenith Bank PLC FGN Roads Sukuk Issue Proceeds 1015183412
Guaranty Trust Bank PLC FGN Roads Sukuk Issue Proceeds 0111869636
Jaiz Bank PLC FGN Roads Sukuk Issue Proceeds 0003028731
Sterling Bank PLC FGN Roads Sukuk Issue Proceeds 0065181158
Unity Bank PLC FGN Roads Sukuk Issue Proceeds 0029035531

 

  • Immediately fill and submit subscription form

For more information, kindly contact your Relationship Manager, email customercare@fbnmerchantbank.com., call 01-2798300 or fill the form below and a Relationship Manager will contact you.

 

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