BOI Micro Finance Bank

The Bank

BOI Microfinance Bank Limited is a subsidiary of the Bank of Industry Limited. We are a Unit Microfinance Bank licensed by the Central Bank of Nigeria to operate within Lagos State.

MISSION, VISION AND CORE VALUES

Mission

To provide entrepreneurs with unique, people oriented, technology driven, value added products and services delivered by a well trained and motivated workforce in a sustainable and profitable manner for the economic benefit of our stakeholders.

Vision

To be the clear leader in the microfinance industry in Nigeria.

Core Values

  • Leadership
    Striving to always be ahead of the pack and leading by example.
  • Integrity
    Integrity will always be at the heart of the bank’s dealing s with all its stakeholders.
  • Focus
    Continuously conducting, objective self assessments of achievements in set objectives.
  • Tenacity
    Always unrelenting in the pursuit of set objectives.

Objectives

  • Encourage savings among the unbanked productive poor
  • To make credit facilities more accessible to micro entrepreneurs engaged in real sector activities at an attractive interest rate and in a sustainable manner.
  • Improve on the business and financial skills of micro entrepreneurs through capacity building.

Products and Services

Savings:

– Passbook Savings
– Thrift Savings
– Term Savings

 

Loans:

– Individual Loan 
– Solidarity Group Loans
– Cooperative Loans

 

LOAN REQUIREMENTS – CHECKLIST

BORROWER’S BASIC REQUIREMENTS

  • 2 RECENT PASSPORT PHOTOGRAPHS
  • UTILITY BILL
    *NEPA BILL (PHOTOCOPY)
    *PSP WAIST BILL (PHOTOCOPY)
  • MEANS OF IDENTIFICATION (ANY OF THE FOLLOWING)
    *NATIONAL ID
    *DRIVERS LICENSE
    *INTERNATIONAL PASSPORT

GUARANTOR’S BASIC REQUIREMENTS

  • 1 RECENT PASSPORT PHOTOGRAPHS
  • UTILITY BILL
    *NEPA BILL (PHOTOCOPY)
    *PSP WAIST BILL (PHOTOCOPY)
  • MEANS OF IDENTIFICATION (ANY OF THE FOLLOWING)
    *NATIONAL ID
    *DRIVERS LICENSE
    *INTERNATIONAL PASSPORT

NOTE

  • The client must have a fixed place of business
  • The business premises and borrowers residence will be visited and evaluated.
  • The bank lends to the following sectors
    – Manufacturing and Processing
    – Agriculture and Forestry
    – Services
    – Trading (in combination with the above mentioned sectors)

Contact Numbers

01-2707459, 01-2715032, 08026242700

Office Location

Ground Floor,
BOI Head Office,
23 Marina,
Lagos.

Board of Directors

The Board of the Bank is comprised of the following persons:

  • Chairman       – Mr. Mohammed G. Alkali
  • MD/CEO         – Mr. Kelvin Iyamu
  • Director         – Mr. Aliyu A. Suleiman
  • Director         – Mr. Femi O Ogunje
  • Director         – Dr. Antonia Ashiedu
  • Director         – Mr. Duro Kuteyi
  • Director         – Dr. Ken Ife

Chairman (Mr. Mohammed G. Alkali)

Mr. Mohammed Alkali is the Executive Director, Operations in the Bank of Industry.

Managing Director (Mr. Kelvin Iyamu)
Mr. Iyamu is an experienced banker and has both commercial and microfinance banking experience. He has a degree in Accounting and a Master’s degree in Marketing. He is a Qualified Chartered Accountant of the Institute of Chartered Accountants of Nigeria.

Mr. Aliyu A. Suleiman (Director)
Mr. Aliyu A. Suleiman is the General Manager, Corporate Services in the Bank of Industry.

Mr. Olufemi Ogunje (Director)
Mr. Ogunje is an Assistant General Manager and the Head of Credit Risk Management Division in the Bank of Industry.

Dr. Antonia Ashiedu (Director)
Dr. Antonia Ashiedu is an experienced banker with over seven years banking experience. She holds a Master’s degree in International Law and Diplomacy and a Doctorate of the University of Abuja. She is currently serving as the Commissioner in the Ministry of Poverty Alleviation in Delta State.

Mr. Duro Kuteyi (Director)
Mr. Kuteyi is the Managing Director of Spectra Nigeria Limited, a company engaged in the production of beverages and other fast moving consumer goods. He is an industrialist who has been in the forefront of the crusade for the development of the real sector. He is a prominent member of the National Association of Small Scale Industrialists (NASSI).

Dr. Ken Ife (Director)
Dr. Ken Ife is a consultant to the United Nations Executive Agencies (UNECA/FAO/UNIDO), Word Bank, European Commission, African Development Bank, Ecowas Commission, The Presidency and Federal Ministry of Commerce and Industry. He is also the Co-Chair EU-Africa Business Task Force Summit Group, Senior Policy Adviser to the President of the Africa Business Round Table/ NEPAD Business Group.

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