Lagos, Nigeria – October 10, 2025 – AVA Capital Partners Limited has successfully led the Series 2 ₦20 billion Mudarabah Sukuk Issuance by TAJ Sukuk Issuance Programme SPV Plc, achieving a remarkable 285.15% subscription rate and an oversubscription of 185.15%.
The offer, which was issued under the ₦100 billion TAJ Sukuk Issuance Programme, attracted an impressive ₦57.03 billion from 2,586 investors across Nigeria, underscoring the strong and growing confidence in non-interest investment products. All applications were deemed valid, with no rejections, reflecting the credibility of the transaction structure and investor trust in the issuer and its advisers.
Speaking on the outcome, Kayode Fadahunsi, Managing Director, AVA Capital Partners Limited, said:
“This transaction underscores the deepening confidence in Nigeria’s Islamic finance market and the appetite for ethically structured investment products. We are pleased to have partnered with TAJ Bank to deliver another landmark Sukuk issuance that not only strengthens non-interest finance but also channels capital toward impactful economic growth.”
The issuance represents another significant milestone in Nigeria’s capital market, providing investors with a Shariah-compliant investment opportunity that combines competitive returns with sustainable economic value.
As Financial Adviser and Lead Issuing House, AVA Capital Partners played a pivotal role in structuring, coordinating, and managing the offer to ensure a seamless process and robust investor participation.
This successful outing reinforces AVA Capital Partners’ consistent track record in executing high-impact capital market transactions across both conventional and non-interest finance segments, reaffirming its position as one of Nigeria’s most trusted and innovative investment banking firms.
The transaction was cleared by the Securities and Exchange Commission (SEC), with allotments processed and units are to be credited through the Central Securities Clearing System (CSCS).
About AVA Capital Partners Limited
AVA Capital Partners Limited is a leading investment banking firm licensed by the Securities and Exchange Commission (SEC) to provide services in Financial Advisory, Capital Raising, amongst others. The firm is committed to delivering innovative, ethical, and client-focused financing solutions that drive inclusive and sustainable economic growth.