This edition of the Islamic Finance Daily Update Anchored by Bukola Akinyele captures the Chapel Hill Denham Advisory Limited's  notification  to  the investment public of the investment opportunity in the Nigeria Real Estate Investment Trust Series I Offer of up to N20.25 billion. 

Nigeria Real Estate Investment Trust is a fully Shariah compliant fund (with Shariah certification) that has Lotus Financial Services Limited as Shariah Adviser. The proceeds from the Series I Offer will be applied towards investments in high quality, Shariah compliant, A-grade, income producing commercial real estate assets in Nigeria; across office, retail, industrial, student housing and specialty assets sub-sectors.

The Fund is targeting a consistent annual return of 20%+ in Naira, including a 10% annual cash distribution which will be paid through quarterly distributions.

Also, the Senior Research Analyst, Forextime Limited Mr. Lukman Otunuga revealed that the stratospheric gold prices and spiritless oil prices would seem to indicate that Nigeria's investment in gold mining is a timely and positive one.

As part of the economic diversification and reforms in the solid minerals sector, Nigeria had for the first time recently refined its own reserve gold bar and paid N268 million for a 12.5 kg bar to start a central bank stock.

He said, amid the COVID-19 pandemic, gold remains a market-moving and safe-haven asset after spot prices hit all-time highs above $1,981 last month. The precious metal appreciated almost 30 per cent for the year-to-date as it heads to some $2,000.

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