have signed an agreement to inject N10 billion Sukuk Bond into the construction of 300,000 low-income housing units.To date, the fund has financed the development of 11,700 affordable homes in Bauchi, Delta, Ogun, Kano, Nasawara, Kaduna, Yobe, Borno and Adamawa states. It targets to spend $3 billion on this class of homeowners.The agreement was signed by the FHFL Managing Director, Mr. Femi Adewole and its Chairman, Alhaji Suleiman Barau, while the minister, Mrs.
At the ceremony, Ahmed said housing is one of the key indices for measuring development in any country.Ahmed also stated that the bond would strengthen the funds and expand its ability to offer wider opportunities, adding that Nigerians will rely on them to realise their homeownership dreams. Also, the Chairman, FHFL Board of Directors, Alhaji Suleiman Barau, explained that with the issuance of an N30 billion Sukuk Bond, they will be committed to financing the development of affordable houses and strengthening citizens’ drive to own homes.“We initiated this issuance as one of the measures towards attaining our objective of bridging the housing gap in Nigeria, providing millions of jobs and enabling economic growth,” he remarked.
Adewole explained that the bond issuance was oversubscribed, said the investors include pension funds, ethical funds, fund managers, Islamic institutions, non-finance trustees, corporate and high net worth individuals.
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