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Adeleke: Development Will Be Restored in Kogi State By Dino Melaye - Re: Absymal Nelglect of Judges Welfare in Osun - Your Government is Delivering on Good Governance, Governor Adeleke Tells Traditional Rulers - We’re Open To Development Partners For The Progress of Our State – Governor Adeleke - Governor Adeleke Preaches Fear of Allah as Muslim Students Society Hails Him For His Support - Governor Adeleke Declares Curfew in Orolu & Irepodun LGs - Averted Plane Crash: Aircraft Engines May Have Been Tampered with – Governor Adeleke’s Aide. - Gov Adeleke’s Imole free medical, surgical outreach is second to non – UNIOSUN CMD - Governor Adeleke greets Hon. Atidade on his birthday - Governor Adeleke Chairs Maiden State EXCO Meeting, Issues Performance Monitoring Template for Cabinet Members - Obasanjo, Adeleke, others Extol Late Gov. Agagu - Governor Adeleke Directs Security Agencies to Launch Special Operations over Situation in Ijeshaland - State EXCO Meeting: Osun APC Suffers Deep Amnesia- Adeleke Spokesperson - I Praise Adeleke for Being a Dancing and Working Governor – Obasanjo - Palliative: Osun APC Falsehood Cannot Replace The Truth– Osun Government. - GOVERNOR ADELEKE RELEASES N160 MILLION FOR THE PAYMENT OF SEVERANCE GRATUITIES OF 6TH AND 7TH ASSEMBLY HONOURABLE MEMBERS - IMMEDIATE CLOSURE OF OSUN STATE POLYTECHNIC, IREE. - Governor Adeleke Addresses Osun Indigenes in US, Calls for Global Partnership for State Development - Governor Adeleke celebrates Hon. Oladebo on his birthday - University of Ilesa: Governor Adeleke Commends NUC over Approval of Courses, Says Our Strategy is Working

Breaking News

Adeleke: Development Will Be Restored in Kogi State By Dino Melaye - Re: Absymal Nelglect of Judges Welfare in Osun - Your Government is Delivering on Good Governance, Governor Adeleke Tells Traditional Rulers - We’re Open To Development Partners For The Progress of Our State – Governor Adeleke - Governor Adeleke Preaches Fear of Allah as Muslim Students Society Hails Him For His Support - Governor Adeleke Declares Curfew in Orolu & Irepodun LGs - Averted Plane Crash: Aircraft Engines May Have Been Tampered with – Governor Adeleke’s Aide. - Gov Adeleke’s Imole free medical, surgical outreach is second to non – UNIOSUN CMD - Governor Adeleke greets Hon. Atidade on his birthday - Governor Adeleke Chairs Maiden State EXCO Meeting, Issues Performance Monitoring Template for Cabinet Members - Obasanjo, Adeleke, others Extol Late Gov. Agagu - Governor Adeleke Directs Security Agencies to Launch Special Operations over Situation in Ijeshaland - State EXCO Meeting: Osun APC Suffers Deep Amnesia- Adeleke Spokesperson - I Praise Adeleke for Being a Dancing and Working Governor – Obasanjo - Palliative: Osun APC Falsehood Cannot Replace The Truth– Osun Government. - GOVERNOR ADELEKE RELEASES N160 MILLION FOR THE PAYMENT OF SEVERANCE GRATUITIES OF 6TH AND 7TH ASSEMBLY HONOURABLE MEMBERS - IMMEDIATE CLOSURE OF OSUN STATE POLYTECHNIC, IREE. - Governor Adeleke Addresses Osun Indigenes in US, Calls for Global Partnership for State Development - Governor Adeleke celebrates Hon. Oladebo on his birthday - University of Ilesa: Governor Adeleke Commends NUC over Approval of Courses, Says Our Strategy is Working
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Webmaster October 13, 2013

FINANCE: Osun Eyes Speedy Development With N11.4bn SUKUK Bond

SONY DSCGovernment of the State of Osun today completed processes of accessing a N11.4 billion SUKUK bond, thereby becoming the first state to benefit from the non-interest bond in the entire sub-Saharan Africa.
The processes were completed with the handing over of statutory documents to directors of Osun Sukuk Company, after which the Board Meeting of the company was held.
Speaking at the epoch making event the state governor, Rauf Aregbesola disclosed that, rather than being a ploy to Islamise the state as being alleged in some quarters, SUKUK, according to him, provided other avenues of raising funds with favourable repayment terms, to finance government’s projects.
He added that SUKUK remains an instrument of development, adding that majority of investors in the bond are non-Muslims.
The  state Commissioner for Finance, Budget and Economic Planning, Dr. Wale Bolorunduro also explained that the processes of accessing the bond was open and transparent, making the state  to get over subscription of the bond from the expected N10 billion to N11.4 billion.
Bolorunduro further stressed that, the bond is presenting to the state the opportunity to attract foreign investment adding that the way the transaction was structured made it a success, despite the changes that took place in the money market and interbank exchange before the SUKUK.
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