The Federal Government’s Sovereign Sukuk bond of N150n offered to investors was oversubscribed by N519.12bn, the Debt Management Office has said.
The DMO said on Friday in a statement that the offer attracted a total subscription of N669.12bn, representing a subscription level of 446 per cent.
It said it allotted N162.557bn to investors in the third Sovereign Sukuk.
The debt office said the high demand for the bond came from a wide range of investors, including ethical funds, insurance companies, fund managers and retail investors.
The statement said the participation by a wide range of investors was in line with the DMO’s objectives of diversifying the investor base for government securities and promoting financial inclusion.
The DMO said, “The issuance of the third Sovereign Sukuk, which followed the debut issuance of N100bn in September 2017 and a second issuance of another N100bn in December 2018, is based on the DMO’s commitment to using borrowed funds to finance infrastructure.
“The Sukuk issuances are project-tied and are used to finance specific projects, which are disclosed to investors.”
It said the proceeds of the issuance would be used to finance 44 critical road projects across the six geopolitical zones of the country.
![Rev. Fr. Anthony Odiong, a US-based Nigerian Louisiana Catholic priest, was arrested in Florida on Tuesday for possessing child pornography, according to law authorities. The suspect is reportedly accused of many other cases of sexual assault. The Waco, Texas, Police Department announced in a Facebook post on Tuesday that officers detained Father Anthony Odiong in Ave Maria, Florida, with assistance from the United States Marshals Service. Waco police announced in March that they had received "credible information" about a sexual assault allegedly committed by Odiong in Texas in 2012. “During the subsequent investigation, a case of possession of child pornography was uncovered,” the police said. The priest was apprehended in Florida by the Caribbean Regional Fugitive Task Force. The Waco Police Department said that he will be extradited to Texas. Odiong had previously served in the Archdiocese of New Orleans before being removed as priest in December of last year due to controversy over homilies in which he claimed, among other things, that the Catholic Church was being taken over by "the gays." At the time, the priest was also accused of abusive behaviour; a Louisiana lady claimed in U.S. bankruptcy court that Odiong had committed both financial and sexual abuse against her. Prior to joining the New Orleans Archdiocese, Odiong served in at least two Texas parishes. On Tuesday, Waco police stated that during their sexual assault investigation, "the presence of other survivors was revealed." “Multiple women have come forward to tell similar experiences as the sexual assault survivor who reported the initial allegation,” the police department said. “Survivors’ experiences ranged from sexual assault and indecent assault, more commonly recognised as groping, and financial abuse, with some survivors experiencing every element of Anthony Odiong’s manipulation.” The police said they “believe there may be more survivors, and we wish to speak with anyone who [has] had similar encounters” with the priest. The Archdiocese of New Orleans issued a brief news release on Tuesday noting Odiong's arrest in Florida. The archdiocese “encourages anyone with any information to contact law enforcement,” the release said.](https://chronicle.ng/wp-content/uploads/2024/08/ezgif-6-4730550ede-450x300.jpg "Odiong: US-based Nigerian Catholic priest convicted over sexual assault")