FG refutes claims of Islamizing Nigeria with issuance of 100 billion naira Sukuk bond

Federal Government has said that there is no plan to Islamize the country with the recent issuance of its 100 billion naira Sukuk bond.
The Minister of Finance, Kemi Adeosun who stated this on the sidelines of an investor conference in Lagos state, said that several countries of the world including South Africa had issued Sukuk bonds in the past, and Nigeria’s plan to issue the Sukuk bond started about six years ago, long before the current administration came into power.
According to her, the Sukuk bond is among the many products being introduced by the current administration to deepen the country’s financial market.
The minister explained that the Sukuk bond would enable the Federal Government to bring several investors into its dragnet as it stepped up efforts to raise the funds needed for infrastructure growth and development, among other projects.



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