WenysAD:
Person will jejely wake up and will just be seeing money e have not even dream about.
There is God ooo
Let me go back and dream about all this money and touch them biko so I can claim it in real life

SuperSuave:
lol..thanks for the enlightenment

You are welcome, Bro

There are plenty billionaires in the North especially Kano who do Islamic banking with Jaiz Bank. They don't collect interest on their deposits and I think even the bank is limited in their ability to transact with their money.

How the bank manages to survive. ..I really don't know

scottyoloye:
lemme pray for u....

Adams696:
Why islamic bond? Or is Nigeria an islamic country alone? This government lack direction.

sarrki:

Everest Amaefule, Abuja

The Federal Government will today (Thursday) commence activities preparatory to the issuance of N100bn non-interest bearing Islamic bond, better known as sukuk.

A statement issued by the Debt Management Office in Abuja on Wednesday said a national roadshow to be led by the Director-General of the DMO, Ms. Patience Oniha, would begin today (Thursday).

The N100bn targeted from the bond is one of the sources of funding the 2017 budget.


Sukuk is structured in such a way as to generate returns to investors without infringing Islamic law that prohibits riba or interest.

It represents undivided shares in the ownership of tangible assets relating to particular projects or special investment activity.

The roadshow will visit major cities like Kano, Kaduna, Lagos and Port Harcourt. Also to be involved in the show are financial advisers to the issue, Lotus Capital Financial Services Limited and FBN Merchant Bank Plc.

According to the DMO, the roadshow is to create awareness about the sovereign sukuk and sensitise target investors to the features and benefits of the sovereign sukuk.

The DMO had earlier announced its intention to issue a sovereign sukuk in the domestic market as part of measures to fund the 2017 budget deficit.

Apart from serving as alternative source of funding for the government, the sukuk is expected to serve to diversify the investor base for FGN Securities, promote financial inclusion and deepen the domestic capital market.

Proceeds from the sukuk issuance, according to the DMO, will be used to finance specific road projects.

The DMO explained, “Sukuk are asset-based securities and not debt instruments, and represent ownership in a tangible asset, service, project, business or joint venture. This is why sukuk fits into our debt strategy of borrowing to finance capital projects contained in the budget.

“This ensures that government borrowings are used to finance development projects, which have multiple economic and social benefits for citizens.”





http://punchng.com/budget-fg-targets-n100bn-from-islamic-bond-sukuk/

YoungCas:
[quote author=SuperSuave post=60209600]Is Nigeria an Islamic nation? Pardon my ignorance pls[/quote [color=#006600][/color]it is all about non-interest Banking that Islam practices.. Usury is a sin in sane religious.. Wouldn't you love to receive a loan without interest? It is for our betterment.. Dont b blindfolded by grief of antipathy

goingape1:
100bn to fond boko haram!


more suicide bombers loading...........

Emtol01:
Is England and USA an Islamic Nations? Wake up fellow compatriot don't let religion becloud ur sense of responsibility.

solaere:

Na u need sense pass "is england nd usa an islamic nation'' u also ansa dis does england nd usa do islamic bond

sarrki:

Everest Amaefule, Abuja

The Federal Government will today (Thursday) commence activities preparatory to the issuance of N100bn non-interest bearing Islamic bond, better known as sukuk.

A statement issued by the Debt Management Office in Abuja on Wednesday said a national roadshow to be led by the Director-General of the DMO, Ms. Patience Oniha, would begin today (Thursday).

The N100bn targeted from the bond is one of the sources of funding the 2017 budget.


Sukuk is structured in such a way as to generate returns to investors without infringing Islamic law that prohibits riba or interest.

It represents undivided shares in the ownership of tangible assets relating to particular projects or special investment activity.

The roadshow will visit major cities like Kano, Kaduna, Lagos and Port Harcourt. Also to be involved in the show are financial advisers to the issue, Lotus Capital Financial Services Limited and FBN Merchant Bank Plc.

According to the DMO, the roadshow is to create awareness about the sovereign sukuk and sensitise target investors to the features and benefits of the sovereign sukuk.

The DMO had earlier announced its intention to issue a sovereign sukuk in the domestic market as part of measures to fund the 2017 budget deficit.

Apart from serving as alternative source of funding for the government, the sukuk is expected to serve to diversify the investor base for FGN Securities, promote financial inclusion and deepen the domestic capital market.

Proceeds from the sukuk issuance, according to the DMO, will be used to finance specific road projects.

The DMO explained, “Sukuk are asset-based securities and not debt instruments, and represent ownership in a tangible asset, service, project, business or joint venture. This is why sukuk fits into our debt strategy of borrowing to finance capital projects contained in the budget.

“This ensures that government borrowings are used to finance development projects, which have multiple economic and social benefits for citizens.”





http://punchng.com/budget-fg-targets-n100bn-from-islamic-bond-sukuk/

9japrof:
Stupid Buhari and his APC government are seriously bent on enslaving Nigeria. I dont have problem with debts or loans, no serious government or business can do without loans, the problem is that there is no commensurate work on ground to really prove that all these money collected are being put to good use.

Lets not forget that over 7 trillion naira was collected from Treasury bill sales just this year.

Lest not forget that FIRS, customs have been pumping in money in billions as revenue generated.

Additionally oil prices have stabled in recent times and the activities of the militants have been curtailed.

Nigeria no longer spend trillions yearly on fuel subsidy.

Nigeria under this man's watch has collected loans from China spaning into millions of dollars.

What we keep hearing is that deizannis properties, houses money have been forfeited to the FG meaning the money can be used by the FG.

We hear trillions have been saved through TSA, we hear that billions of naira have been recovered from looters

then my question is, with all these money available, why the craze for collecting loans? Do this government have a hidden agenda? Am happy scales are now falling out off the eyes of this mofos we have that were stunch believers of this careless, lieing incompetent propagandist government except from some few conscienceless hypocrital individuals who peanuts been paid by BMC to them have blinded their thinking faculty that they have no sense of reasoning.

LexngtonSteele:

Your whining shows you do...IPOB m0r0n

Hajardramadan:







NASS REFUSED TO PASS LAWS THAT WILL ALLOW USE OF RECOVERED LOOTED MONEYS FOR NIGERIANS ;-

Many people erroneously believed that President Buhari is not fighting corruption; because none of those already arrested/detained/accused by the EFCC has been convicted.

But President Buhari wants to set up a Special Anti-Corruption Court and submitted a bill named "The Special Criminal Courts Acts" which has been in the possession of NASS (National Assembly) since last year, but they refused to consider it & never thought of passing it into law.

The Senate told the government point blank on the bill of "Anti-Money Laundering Acts" that they will not pass it into law. The bill has been with the Senate since 2015.

And If corruption is not tackled and the judiciary is not re-organized to tackle corruption, how will Nigeria move from the status of Developing Country to become a DEVELOPED NATION?

Most of the funds recovered cannot be accessed until the cases are concluded at the Supreme Court. Its about N2trillion potentially laying fallow that the government cannot touch until final judgment at the Supreme Court is pronounced.

That is why the passage of Anti-Corruption Courts Legislation is critical to access these funds and to enable such cases at the Special Court Level for better expeditious conclusions.

Now this same NASS is asking for 2.3% of ALL FEDERAL ALLOCATION, for their "Constituency Projects". Can we now see the true enemies of Nigeria?

There is a perception deficit. A lot of people get inaccurate information about this Administration, because a dangerous narrative is being sold to people that President Buhari caused the recession (the recession which was since 2014 Madam KNOW ALL, our 1st ever rated economist, has warned us early enough of possible recession happening.

If this perception deficit is not corrected, President Buhari will not be able to get the support he needs to put his programme's through, especially the ones that need enabling laws from the NASS.

Addendum to fellow Nigerians - Remember that terrorists only understand one language and that is Terror. We must all unleash our concern on these NASS members so they will understand we are no more going to sit back and watch them continuously destroying Nigeria.

By a Concerned Nigerian Electricity Regulatory Commission

Copied

Ezechinwa:

alright, that's enough internet for the day little kid.
using bold fonts! attention seeker!

Ezechinwa:


alright, that's enough internet for the day little kid.

using bold fonts! attention seeker!

LexngtonSteele:
I am a Muslim and very patriotic Nigerian. ..

BUT

I won't give Nigeria money to invest and not collect any interest on my money.

I would rather invest in treasury bills (I plan to).

Someone please explain if I am wrong about this bond not yielding any dividends to the depositor

PS - People ranting about Islamization of Nigeria are so hilarious

Islamic Bonds simply mean "no-interest-accruing" because it's forbidden in Islam. Since its optional to buy such bonds, it's not by force...And don't worry they won't recite Arabic when collecting your money

LexngtonSteele:
I am a Muslim and very patriotic Nigerian. ..

BUT

I won't give Nigeria money to invest and not collect any interest on my money.

I would rather invest in treasury bills (I plan to).

Someone please explain if I am wrong about this bond not yielding any dividends to the depositor

PS - People ranting about Islamization of Nigeria are so hilarious

Islamic Bonds simply mean "no-interest-accruing" because it's forbidden in Islam. Since its optional to buy such bonds, it's not by force...And don't worry they won't recite Arabic when collecting your money

kollinz1234:
I don't even understand all they are saying up there.
whether Suku or Suya Nigeria is a secular state, they should stop telling us about sovereign 'Suku'. If it is sth the fg wants to do, they should give it an English name.

Mrchippychappy:
islamization now loading

SuperSuave:
Is Nigeria an Islamic nation? Pardon my ignorance pls