Nigeria to raise $300 million diaspora bond
The bond is expected to be issued by June 2017 and mature for a period of five to seven years.
Nigeria's Finance Minister Kemi Adeosun, has made it known that Nigeria will roll out a $300 million diaspora bond in 2017. The diaspora bond is designed to encourage Nigerians living abroad key into investment opportunities in Nigeria.
According to First Bank of Nigeria, a book runner of the diaspora bond initiative, the $300 million bond is expected to be issued by June 2017, with a maturity of five to seven years.
Speaking on the initiative, the Finance Minister said, "government is putting in place a lot of incentives such as infrastructure; and is also creating a conducive environment for investment to thrive, we are encouraging them (diaspora) to come back home and join the trend."
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