NGX admits N10bn Sukuk of Taj Bank

The Nigerian Exchange (NGX) has admitted TajBank Limited’s N10 billion Sukuk Mudarabah for trading on its platform. The Exchange also reiterated its commitment to the development of Islamic finance.

Speaking at the commemorative closing gong ceremony to mark the listing, Divisional Head, Capital Markets, Nigerian Exchange (NGX), Mr Jude Chiemeka said the Exchange remains committed to diversifying the capital market by providing broad portfolio of securities for various categories of investors.

He said NGX would continue to support companies  and governments by providing a platform of choice for capital raising and linking them with a diverse pool of investors.

“The Exchange is also committed to the development of Islamic financing in the Nigerian capital market and continues to implement initiatives to deepen its offerings,” Chiemeka said.

He commended the efforts of TajBank’s leadership and the parties to the issue: Greenwich Merchant Bank, Lead Issuing House; 117 Capital & Buraq Capital, Joint Sharia Advisers; and United Capital, Brokers, on the transaction.

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