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Nigeria In Talks With Saudi’s Islamic Bank On Sukuk Deal by dipoolowoo: 5:06am On Oct 20, 2016
By Modupe Gbadeyanka

Nigeria has commenced discussions with the Islamic Development Bank (IDB) on how to obtain sukuk to probably fund the 2017 budget.

Specifically, Nigeria is speaking with the investment arm of the Saudi Arabia-based IDB, the Islamic Corporation for the Development of the Private Sector (ICD), about this.

This, the Africa’s biggest economy, desperately needs as a way to get different sources of funding to reflate its dwindling economy.

Sukuk is an Islamic bond structured to generate returns to investors without infringing Islamic law, which prohibits interests or riba.

Chief Executive Officer of ICD confirmed on Tuesday at the Africa Islamic Finance Forum 2016 in Cote d’Ivoire that his organisation was in talks with Nigeria on a possible sukuk deal.

He noted that as soon as Nigeria agrees terms, the deal would be sealed.

Nigeria has struggled revive its economy, which fell into recession largely due to drop in the price of crude oil, its major source of revenue.

Also, renewed attack on oil installations by militants in the Niger Delta region of the country, where the oil is extracted from, has contributed to it.

Nigeria also majority imports what it consumes and this has weakened the country’s currency, the Naira, against major international currencies, including the Dollar, Pounds and Euro.

http://www.businesspost.ng/2016/10/20/nigeria-talks-saudis-islamic-bank-sukuk-deal/

5 Likes

Re: Nigeria In Talks With Saudi’s Islamic Bank On Sukuk Deal by SamuelAnyawu(m): 5:09am On Oct 20, 2016
I Hope it won't lead to a Sunni Imperial financial domination in Nigeria

23 Likes 1 Share

Re: Nigeria In Talks With Saudi’s Islamic Bank On Sukuk Deal by CHIJIOKE1314: 6:45am On Oct 20, 2016
The wicked silly old rag-tag 'general' is handing us over economically to his terrorist Islamic brothers..

(once Nigeria agrees to the conditions the deal will be signed) which other conditions, they said no interests; right? Why can't they just hand over the cash and face the other way..

Ohh.. I understand, they must have spiced it up with some trade down overlaps to shadow the fake Islamic laws.. Before you know it they are making mind boggling profits coded in an angle to continue to exploit the gullibility of many Nigerians..

By the time you calculate all it would take to access and continue to maintain the loan, the criminal IMF would have been looking like saints..

All those Zombies quoting me 'upandan' may think other African (Islamic) countries who are not soliciting for this so called 'No or low' interest loans are fools..

Buhari and his team are up for it the same way they miscalculated every step that ushered us into the oblivion.. So they are fools and criminals!!

Buhari remains a beast!!

56 Likes 2 Shares

Re: Nigeria In Talks With Saudi’s Islamic Bank On Sukuk Deal by veekid(m): 8:19am On Oct 20, 2016
Some mofos are already here thinking Buhari wanted to Islamise Nigeria

39 Likes 3 Shares

Re: Nigeria In Talks With Saudi’s Islamic Bank On Sukuk Deal by babs01(m): 8:20am On Oct 20, 2016
This is a welcome development and should be encouraged

20 Likes 1 Share

Re: Nigeria In Talks With Saudi’s Islamic Bank On Sukuk Deal by babs01(m): 8:20am On Oct 20, 2016
CHIJIOKE1314:
The wicked silly old rag-tag 'general' is handing us over economically to his terrorist Islamic brothers..

(once Nigeria agrees to the conditions the deal will be signed) which other conditions, the said no interests, just hand over the cash and face the other way..

Ohh.. I understand, they must have spiced it up with some trade down overlaps to shadow the fake Islamic laws..

Buhari remains a beast!!

You didn't make sense at all, can you see where interest has put Nigeria now (economic recession).
The only solution to this is Islamic banking. Buh because of you guys hatred for Islam you only reason with your ass.

76 Likes 8 Shares

Re: Nigeria In Talks With Saudi’s Islamic Bank On Sukuk Deal by saintkel(m): 8:20am On Oct 20, 2016
Our economic team is not just working for me

2 Likes

Re: Nigeria In Talks With Saudi’s Islamic Bank On Sukuk Deal by babs01(m): 8:21am On Oct 20, 2016
veekid:
shocked
Re: Nigeria In Talks With Saudi’s Islamic Bank On Sukuk Deal by biaframustcome: 8:21am On Oct 20, 2016
kiss
Re: Nigeria In Talks With Saudi’s Islamic Bank On Sukuk Deal by Mayor21(m): 8:21am On Oct 20, 2016
Tufia!

5 Likes

Re: Nigeria In Talks With Saudi’s Islamic Bank On Sukuk Deal by Moreoffaith(m): 8:21am On Oct 20, 2016
Smile
Re: Nigeria In Talks With Saudi’s Islamic Bank On Sukuk Deal by babs01(m): 8:21am On Oct 20, 2016
SamuelAnyawu:
I Hope it won't lead to a Sunni Imperial financial domination in Nigeria

2 Likes

Re: Nigeria In Talks With Saudi’s Islamic Bank On Sukuk Deal by Lilimax(f): 8:21am On Oct 20, 2016
SamuelAnyawu:
I Hope it won't lead to a Sunni Imperial financial domination in Nigeria
God forbid!
It'll be dead on arrival embarassed

10 Likes

Re: Nigeria In Talks With Saudi’s Islamic Bank On Sukuk Deal by massinola(m): 8:21am On Oct 20, 2016
I am not understanding. Borrow from Saudi to fund 2017 budget, has the 2016 budget been funded already? to apc 2016 is done and dusted? without a single achievement other than the arranged return of the chibok girls who are looking as healthy as the children in abj the apc are already on to 2017? its really a shame some group of people led everyone to this hell of a government. I ask again as I have been asking; the trillions in TSA account and the trillions recovered from the Almighty looters, who is the owner? what is it for? where and when are they going to be used?
meanwhile, following me see

22 Likes 2 Shares

Re: Nigeria In Talks With Saudi’s Islamic Bank On Sukuk Deal by Nobody: 8:21am On Oct 20, 2016
Good move, not all Muslims are terrorists and not all Christians are saints... let's bring in foreign investors to Nigeria. Put religion out of this.

9 Likes

Re: Nigeria In Talks With Saudi’s Islamic Bank On Sukuk Deal by veekid(m): 8:22am On Oct 20, 2016
CHIJIOKE1314:
The wicked silly old rag-tag 'general' is handing us over economically to his terrorist Islamic brothers..

(once Nigeria agrees to the conditions the deal will be signed) which other conditions, the said no interests, just hand over the cash and face the other way..

Ohh.. I understand, they must have spiced it up with some trade down overlaps to shadow the fake Islamic laws..

Buhari remains a beast!!
I understand your frustration

14 Likes 1 Share

Re: Nigeria In Talks With Saudi’s Islamic Bank On Sukuk Deal by MadCow1: 8:22am On Oct 20, 2016
I wonder why we still borrow from the World Bank and IMF when Islamic Banking is there.

10 Likes 1 Share

Re: Nigeria In Talks With Saudi’s Islamic Bank On Sukuk Deal by Nobody: 8:22am On Oct 20, 2016
Oya Haters come and start what you're best at doing.

4 Likes

Re: Nigeria In Talks With Saudi’s Islamic Bank On Sukuk Deal by Oyinda32(m): 8:22am On Oct 20, 2016
CHIJIOKE1314:
The wicked silly old rag-tag 'general' is handing us over economically to his terrorist Islamic brothers..

(once Nigeria agrees to the conditions the deal will be signed) which other conditions, the said no interests, just hand over the cash and face the other way..

Ohh.. I understand, they must have spiced it up with some trade down overlaps to shadow the fake Islamic laws..

Buhari remains a beast!!




Receive brain..

19 Likes 1 Share

Re: Nigeria In Talks With Saudi’s Islamic Bank On Sukuk Deal by Lilimax(f): 8:23am On Oct 20, 2016
My people, make una tread with caution. embarassed
Can any good thing come out of Nazareth?...a saying as well as an adage embarassed

3 Likes

Re: Nigeria In Talks With Saudi’s Islamic Bank On Sukuk Deal by Nobody: 8:23am On Oct 20, 2016
Conspiracy theorists are always welcome grin

1 Like

Re: Nigeria In Talks With Saudi’s Islamic Bank On Sukuk Deal by Ngokafor(f): 8:24am On Oct 20, 2016
SamuelAnyawu:
I Hope it won't lead to a Sunni Imperial financial domination in Nigeria




....ofcourse!!!..what else??..buhari and his apc cohorts are up to something sinister..but they shall be stopped angry

4 Likes

Re: Nigeria In Talks With Saudi’s Islamic Bank On Sukuk Deal by Lilimax(f): 8:24am On Oct 20, 2016
MadCow1:
I wonder why we still borrow from the World Bank and IMF when Islamic Banking is there.
There is nothing free even in Freetown. I'm sure it'll have some evil compliance directives
before it'll be implemented embarassed

6 Likes

Re: Nigeria In Talks With Saudi’s Islamic Bank On Sukuk Deal by Adekorya: 8:24am On Oct 20, 2016
gurunlocker:
The China yen film display you acted earlier this year, we haven't seen result.... Be taking loan to fund budget everywhere, soon you will put the country on Ebay
Patiently
CHIJIOKE1314:
The wicked silly old rag-tag 'general' is handing us over economically to his terrorist Islamic brothers..
(once Nigeria agrees to the conditions the deal will be signed) which other conditions, the said no interests, just hand over the cash and face the other way..
Ohh.. I understand, they must have spiced it up with some trade down overlaps to shadow the fake Islamic laws..
Buhari remains a beast!!
SamuelAnyawu:
I Hope it won't lead to a Sunni Imperial financial domination in Nigeria
d33types:
Are they the best lenders?

Critics are showing themselves.

Do you all have to be critical of every ideas? sad

2 Likes 1 Share

Re: Nigeria In Talks With Saudi’s Islamic Bank On Sukuk Deal by jegz25(m): 8:25am On Oct 20, 2016
CHIJIOKE1314:
The wicked silly old rag-tag 'general' is handing us over economically to his terrorist Islamic brothers..

(once Nigeria agrees to the conditions the deal will be signed) which other conditions, the said no interests, just hand over the cash and face the other way..

Ohh.. I understand, they must have spiced it up with some trade down overlaps to shadow the fake Islamic laws..

Buhari remains a beast!!
can't u appreciate good news for once in ur life?..hoping to hear bad news always cox u hate Buhari..it makes u worst than him

7 Likes

Re: Nigeria In Talks With Saudi’s Islamic Bank On Sukuk Deal by d33types: 8:25am On Oct 20, 2016
Are they the best lenders at this time?

I mean, why is this leadership hell bent on courting controversy at this time where everybody is crying about islamisation agenda?.

I am seriously regretting the stupidity and senselessness of Buhari.

4 Likes 1 Share

Re: Nigeria In Talks With Saudi’s Islamic Bank On Sukuk Deal by gurunlocker: 8:25am On Oct 20, 2016
The China yen film display you acted earlier this year, we haven't seen result.... Be taking loan to fund budget everywhere, soon you will put the country on Ebay

11 Likes 2 Shares

Re: Nigeria In Talks With Saudi’s Islamic Bank On Sukuk Deal by efilefun(m): 8:25am On Oct 20, 2016
veekid:
Some mofos are already here thinking Buhari wanted to Islamise Nigeria
They all lost their sense of reasoning immediately GEJ lost that election, sometimes I weep for this kinda youths cuz they tend to live a frustrated life

3 Likes

Re: Nigeria In Talks With Saudi’s Islamic Bank On Sukuk Deal by Lilimax(f): 8:27am On Oct 20, 2016
veekid:
Some mofos are already here thinking Buhari wanted to Islamise Nigeria
Before nko? embarassed

1 Like

Re: Nigeria In Talks With Saudi’s Islamic Bank On Sukuk Deal by ChappyChase: 8:27am On Oct 20, 2016
What da fvck is that?

2 Likes

Re: Nigeria In Talks With Saudi’s Islamic Bank On Sukuk Deal by lordkhalifa(m): 8:28am On Oct 20, 2016
Islamization of Nigeria in progress, so we have to borrow before financing federal budget, chai buhari you have useless Nigeria

6 Likes

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