Jaiz Bank Plc is planning to raise N150 billion via Sukuk issuance either in full or in series.

A notification of the bank’s AGM scheduled to hold on August 16, 2022 stated thus:

“The Board of Directors is hereby authorized to do all such things and take all such actions as are required by the Central Bank of Nigeria, Securities and Exchange Commission, the Nigerian Exchange Limited and other authorities to raise capital in the sum of N150,000,000,000 through issuance of Sukuk either in full or in series”.

The board of directors of the bank has concluded preliminary discussions on the N150 billion Sukuk issuance and has scheduled consideration and approval of the N150 billion Sukuk as part of the agenda at the bank’s Annual General Meeting in August 16, 2022.