Latest News

October 2016

September 2016

NIRSAL TEAMS UP WITH BOI TO BOOST AGRICULTURAL PROCESSING AND VALUE ADDITION

NIRSAL-BOI MOU WILL ENABLE EXTENSION OF BOI’S CREDIT FACILITIES TO SMALLHOLDER FARMERS, AGRO-PROCESSORS, AND AGRO-INPUT SUPPLIERS To tackle one of the significant challenges facing Nigeria’s agriculture – the estimated 60 percent post-harvest losses across the value chain - the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL)  signs a [...]

YES- PROGRAMME IN-CLASS – MD’S SPEECH

  ADDRESS BY THE Ag. MANAGING DIRECTOR/CHIEF EXECUTIVE OFFICER BANK OF INDUSTRY LIMITED WAHEED OLAGUNJU AT THE OPENING OF THE FIVE-DAY IN-CLASS CAPACITY BUILDING SESSION OF THE YOUTH ENTREPRENEURSHIP SUPPORT (YES) PROGRAMME  MONDAY, 19th SEPTEMBER, 2016  PROTOCOLS Our Development Partners, the Entrepreneurship Development Centres and Training Consultants,  Our dear participants and future Entrepreneurs,  Gentlemen of [...]

August 2016

BoI/Kaduna Govt Develop Entrepreneurship Programme For 4,500 Youths

The Bank of Industry (BoI), in collaboration with the Kaduna State government and Kaduna Business School, have developed a business development programme aimed at training 4,500 business operators in the state. Tagged: “Kaduna Startup Entrepreneurship Program,”(KADSTEP), the programme is tailored towards improving the capacity of some select small and medium [...]

June 2016

Adenuga, Glo worthy of emulation – Olagunju

Young entrepreneurs in Nigeria looking to make a difference in society by creating sustainable value offerings can learn a thing or two from Chief Mike Adenuga. Bank Of Industry Limited’s Acting Managing Director, Mr. Waheed Olagunju has said. The acting Managing Director, Bank of Industry, Mr. Waheed Olagunju in a [...]

December 2015

BoI prescribes smart tech for manufactured goods’ competitiveness

Reaffirms commitment to agro-allied sector’s growth Deployment of smart technology in production processes holds the ace in promoting locally made goods in the global market, the Managing Director of the Bank of Industry (BoI), Rasheed Olaoluwa has said. According to him, olaoluwa also reaffirmed the development finance institution’s commitment to boosting [...]

Agribusiness, manufacturing to drive Nigeria’s growth by 2020

BoI, stakeholders seek improved support services to drive growth If the potential of Nigeria’s youth population is properly harnessed for productivity in the nation’s agribusiness, extractive industries and manufacturing sectors, the sectors can aid the realisation of the nation’s projected growth by 2020, latest Forbes report on entrepreneurship has shown. Affirming [...]

November 2015

Bank of Industry shortlists 1000 business proposals under Graduate Entrepreneurship Fund (GEF) Scheme

Following the conclusion of the evaluation of entries received from 3,100 members of the National Youth Service Corps in respect of the online Business Ideas Competition organised by the Bank of Industry (BoI) under the Graduate Entrepreneurship Fund (GEF)Scheme, 1000 youth corps members were shortlisted on the basis of the [...]

Bank of Industry (BOI) Graduate Entrepreneurship Fund (GEF) for NYSC Members

Opportunity abound for members of the National Youth Service Corps (NYSC) with entrepreneurial skills as the Bank of Industry (BOI) launch the Graduate Entrepreneurship Fund (GEF). Bank of Industry (BOI) is Nigeria’s oldest, largest and most successful development financing institution. It was reconstructed in 2001 out of the Nigerian Industrial Development [...]

ACCESS BOI CAP FUND FOR AGRICULTURAL PRODUCT PROCESSING

Nigeria is richly endowed with abundant agricultural products available in every state of the federation. However, limited capacity for processing and preservation, results in huge losses and wastages. In a bid to tackle this problem, BOI is establishing a Cottage Agro-Processors (CAP) Fund to support the establishment of cottage [...]

Bank of Industry launches N1bn Fashion Fund; restates commitment to Cluster Model for SME funding

The Bank of Industry, in line with its cluster-specific approach to SME financing, has launched a N1bn Fashion Fund for female SME operators in the fashion industry. The Fund, according to Mr. Rasheed Olaoluwa, Managing Director/CEO of the Bank, is the third in the series of special SME cluster-focused products [...]

September 2015

BOI says poor business plan hinders credit to SMEs

The Bank of Industry, BOI has said though the Small and Medium Enterprises, SMEs are backbone to development of many nations funding has remained a challenge to that sub-sector. The BOI noted that poor business plans have continued to make banks reluctant to give credit SMEs. The banks managing director, Rasheed Olaoluwa [...]

BoI secures AfDB’s $100mfacility for SMEs

The Bank of Industry (BOI) has secured a $100 million line of credit from the African Development Bank (AFDB) to actualise its development financing objectives and intervention, especially for Small and Medium Enterprises (SMEs). According to the bank, the line of credit, which is designed for on-lending to SMEs engaged [...]

Accessing BOI’s Agric Processing Fund

Agriculture is the main stay of the Nigerian economy, with agricultural produce abounding in every state of the federation, but with limited capacity for processing and preservation, resulting in huge losses and wastages. This prompted the Bank of Industry (B0I) to establish the Cottage Agro-Processing (CAP) Fund to support [...]

N1b Fund: ATFAD urges BoI to target real industry operators

Garment makers in Aba, the commercial hub of Abia State have appealed to the Bank of Industry (BOI) to ensure that industry operators’, especially those outside Lagos, benefit from the proposed “N1 billion Fashion Fund” targeted at small and medium enterprises. The group on the aegis of the Association of [...]

BoI partners Grow Africa on $60m venture capital fund for SMEs

The Bank of Industry (BoI) has partnered Grow Africa Equity Partners Limited to raise a $60 million Venture Capital Fund for small businesses, as part of its innovative financing scheme and efforts to expand intervention in the industrial sector from loan disbursements. Under the arrangement, the bank has made [...]

August 2015

Agro-processing accounts for 80% of BOI’s N903.4m facility for SMEs in Gombe state

The Bank of Industry (BOI) has put the loan approval for the development of Micro, Small and Medium Enterprises (MSMEs) in Gombe State at N903.4 million, out of which 80 per cent will be specifically dedicated to Agro-processing. The Managing Director/ Chief Executive Officer of the bank, Rasheed Olaoluwa, [...]

BOI MD Rasheed Olaoluwa elected as an Honorary Fellow of Institute of Information Management

Mr. Rasheed Olaoluwa, Managing Director/CEO, Bank of Industry Limited was today inducted as an Honorary Fellow of the Institute of Information Management at the Bank's Head Office in Marina Lagos. The certificate was presented by the Registrar, Institute of Information Management, Mr. Musa Zubairu, together with the President/Chairman Governing [...]

BOI Disburses N24.6bn To Solid Minerals Sector

The bank of Industry disclosed that its total loan portfolio to the solid minerals sector of the Nigerian economy is now N24.6 billion. The dwindling oil revenue in recent times has made solid minerals development very imperative as a means of revenue diversification. The managing director of the bank, [...]

July 2015

BOI BAGS ISO CERTIFICATION ON QUALITY MANAGEMENT SYSTEMS

 The Bank of Industry (BOI) has received the ISO ‎9001:2008 Quality Management Systems Certification for raising its standards of operations, policies and excellent customer relationship in the country. Managing Director, BOI, Mr. Rasheed Olaoluwa explained that the certification means that the Development Finance Institution (DFI) has already achieved its [...]

BOI DISBURSES N75.8M FOR OFF-GRID SOLAR HOME SYSTEM PROVIDERS

The Bank of Industry (BoI) on Friday disbursed a total of N75.8 million to GVE Projects Ltd, and Arnergy Solar Ltd to provide solar home systems to off-grid communities in six states. Mr Rasheed Olaoluwa, Managing Director, BoI, while presenting the cheques, Olaoluwa said that the energy project which was [...]

June 2015

FITCH RATES BANK OF INDUSTRY AT ‘BB-‘; OUTLOOK NEGATIVE AND ‘AA+ (NGA)

  Fitch Rates Bank of Industry at 'BB-'; Outlook Negative and 'AA+ (nga)  Fitch Ratings-London-25 June 2015: Fitch Ratings has assigned Nigeria-based Bank of Industry Limited (BOI) a Long-term Issuer Default Rating (IDR) of 'BB-' with a Negative Outlook and a Short-term IDR of 'B'. Fitch has also assigned BOI a [...]

BOI’S AUTOMOTIVE FUND HITS N18.09B

            BOI’S AUTOMOTIVE FUND HITS N18.09B The Bank of Industry (BoI) National Automotive Council (NAC) Fund has grown to N18.09 billion since inception in 2003. The fund is aimed at developing the automotive sector by financing projects in the industry and the annual budgetary approval for capital and recurrent expenditures of NAC. [...]

Emzor, Nestle, Peugeot among BoI beneficiaries

The Bank of Industry, one of Africa’s most active development banks, has continued to impact the Nigerian manufacturing sector positively through efficient single-digit funding. Companies that have so far benefitted from the bank’s loans include Emzor Pharmaceuticals Limited, Nestle Nigeria plc, Peugeot Automotive Nigeria Limited, Innoson Technical & Industrial Company Limited, Eastern Metals [...]

BOI SME MOBILE APP

Our objective in introducing the SME Mobile App is to provide members of the public, especially entrepreneurs, easy access to information,  on their mobile phones, about the key activities and products of the Bank, as well as, how to avail themselves of our services. The Bank is leveraging [...]

April 2015

December 2014

Innoson rolls out Nigerian-made cars

Innoson rolls out Nigerian-made cars Pioneer indigenous car manufacturer, Innoson Vehicle Manufacturing Company Limited, over the weekend, rolled out 500 made-in-Nigeria cars. Speaking at the launch, the Chairman, Innoson Group, Dr. Innocent Chukwuma, whose company is one of the ten inaugural members of the Bank of Industry Hall of Fame, revealed [...]

November 2014

BOI SIGNS ON 122 BDSPS, LOOK TO IMPROVE SMES ACCESS TO FUNDING

BOI SIGNS ON 122 BDSPS, LOOK TO IMPROVE SMES ACCESS TO FUNDING In a bid to address challenge of access to credit for SMEs, and to hasten the credit delivery process, the Bank of Industry (BOI) has signed service agreements, engaging 122 Business Development Service Providers (BDSPs) to increase SMEs’ [...]

October 2014

REQUEST FOR EXPRESSION OF INTEREST: AfDB LINE OF CREDIT (LoC)

AFRICAN DEVELOPMENT BANK (AfDB) - LINE OF CREDIT (LoC) Sector: Private Sector Financing Agreement reference: African Development Bank – Line of Credit (LoC). The Bank of Industry Limited (BOI) has secured line of credit from the African Development Bank (AfDB) toward the funding of non-oil Small and Medium Enterprises (SMEs) and intend [...]

August 2014

BOI, FIIRO Align Strategies To Boost Support to Agro-Processors

The Bank of Industry has engaged with the Federal Institute of Industrial Research (FIIRO), Oshodi, in response to the identified need to provide innovative interventions geared towards boosting the economy's transformation from farming to developing small-scale enterprises, food processing and industrialised agro-industries. According to Mr. Rasheed Olaoluwa, Managing Director/CEO, Bank [...]

Bank of Industry, Kaduna State Government Sign N1bn MoU To Promote Industrialisation

The Bank of Industry has extended its MSME Development State Matching Fund initiative to 19 states, after it signed a Memorandum of Understanding with the Kaduna State Government to manage a N1 billion matching fund aimed at promoting industrial and MSME development within the state. Speaking at the event, the [...]

July 2014

June 2014

DISCLAIMER NOTICE

BANK OF INDUSTRY LIMITED   DISCLAIMER NOTICE   It has come to the notice of the Bank of Industry (BOI) that certain persons and organisations are extorting money from members of the public under false pretences claiming to be the Bank’s agents and selling forged BOI loan application forms. The Bank hereby restates that [...]

Bank of Industry, Kaduna State Government firm up plans to support MSMEs

The Bank of Industry has restated its commitment to MSME development in Nigeria, as it is finalising plans on a partnership with the Kaduna State Government to provide a N1billion matching fund to support MSMEs in the state. Officials of the Bank led by the Executive Director (Operations), Alhaji [...]

BOI: Forging partnerships with real sector for economic development

Executive Director (Operations), Bank of Industry (BOI), Mohammed Alkali, Managing Director/CEO, Bank of Industry (BOI), Rasheed Olaoluwa, receiving the Group Managing Director, Tropical General Investment Limited,  Rahul Savara, and General Manager, Business Development,  WACOT Ltd,  R. Krishnan during a courtesy visit to the Bank of Industry Head Office, Lagos [...]

May 2014

BoI to promote UNIDO’s standardisation drive

The Bank of Industry has accepted to drive awareness creation for the United Nations Industrial Development Organisation (UNIDO) desire to improve the Nigerian economy’s competitiveness by helping Nigerian manufacturers and exporters achieve international standards. The Bank’s Executive Director for Business Development, Mr. Waheed Olagunju, who represented the Managing Director, Mr. [...]