Lotus Appointed Joint Financial Adviser to Nigeria’s N100 Billion Sukuk
The Debt Management Office (DMO) has appointed Lotus Financial Services Limited as a joint financial adviser to the second tranche of the N100 billion Sukuk floated by the Nigerian Government.
According to a statement by the firm, the appointment is coming for the second year running as a result of its performance and role in the first Sukuk issuance.
The statement described Sukuk as investment certificates evidencing ownership in an underlying asset or business.
It said similar to the first N100 billion Sukuk issued in 2017, which recorded over 100 per cent subscription, the second Sukuk was issued to construct and rehabilitate 28 economic roads across the six geopolitical zones of the country.
The statement read in part, “The offer is part of the Federal Government’s efforts to promote financial inclusion and increase capital spending.
“Since inception, Lotus has led capacity building and product development initiatives in the non-interest industry and has successfully advised and raised funds for the Federal and State governments and several corporations in Nigeria.”