Business News

United States of America’s Investment & Trade Mission to Nigeria

Fourteen prospective investors from the United States of America recently visited Nigeria as part of an investment and trade mission tha t was jointly organised by the Nigerian Embassy in Washington DC, the Corporate Council on Africa (CCA) and the United States Government-owned Development Finance Institution, the Overseas Private Investment Corporation (OPIC).

OPIC advances the foreign interests of U.S. businesses by helping them gain footholds in emerging markets. This it does mainly by providing finance, guarantees and political risk insurance.

During their visit, members of the US team met with their counterparts from Nigeria’s business community, relevant Ministers and State Commissioners as well as top management staff of the Bank of Industry.

Business News

Bank of Industry’s MD/CEO launches made in Nigeria exotic African Caps and Head Wears

The Managing Director and CEO of BOI, Ms Evelyn Oputu was the guest of honour at the unveiling of various exotic African head wears especially hats and caps made with traditional Adire (Tye & Dye), Ankara Batik, Kente and Aso-Oke fabrics produced by Messrs Crown Natures Limited, a BOI assisted indigenous promoted  enterprise.

The company is one of the beneficiaries of the N100 billion Cotton Textile and Garment Fund (CTG) that BOI was appointed to manage in 2009.

The BOI boss made a very strong case for the  patronage of the company’s exclusive products  especially corporate organisations that spend billions importing caps for their promotional activities. She explained that by purchasing “made in Nigeria” goods, we are not only creating jobs but we are also reducing the country’s dependence on foreign goods and conserving our scarce foreign exchange.

The BOI facility has assisted the company in expanding its annual production capacity to 1.2 million caps. It currently employs 5000 workers and plans to capture 25% of the Nigerian market into which more than 50 million caps are imported yearly.

Crown Natures Nigeria Limited has mastered the skills for producing various kinds of headwear such as Baseball Caps, Polo Caps, Sunvisors, Bucket Hats, Special Hats, Fidel Castro, Kangol and Floppy Hats. The caps are general or custom made to specification using options of various fabrics, namely, Chinos cotton, combed cotton, denim, polyester, Ankara, Adire (Tye & Dye), Batik, Kente and Aso-Oke.

Delivering on our Mandate is pleased to report that soon after the unveiling ceremony was broadcast on BOI sponsored television series, “Wealth Creation Through Industrialisation”, one of the leading oil companies placed order with crown natures for caps to be used for a sports event sponsored by it. Many other organizations have followed suit.


Oyo State Governor commends Bank of Industry

It was praises galore for the Bank of Industry when the Bank’s management team led by the institution’s Managing Director/CEO visited the Executive Governor of Oyo State, His Excellency, Senator Abiola Ajimobi at the Government House in Ibadan.

Oyo State is one of the Bank’s domestic development partners. The two parties met to review their relationship which started since the inception of Senator Abiola Ajimobi’s administration in 2011.

While commending  the Bank of Industry’s support for the State Government’s economic development efforts, especially in providing financial assistance and business development support services to micro, small and medium enterprises in the State,  Governor Ajimobi appealed for more support of the Bank, particularly in the area of agribusiness.

In response, the MD/CEO, Ms Evelyn Oputu, stated that the visit was to evaluate their joint development initiatives and expressed the Bank’s readiness to further support the State Government in its efforts at improving the well being of its people especially through entrepreneurship development and the processing of the State’s vast agricultural and mineral resources.

Business News

Western Union President/CEO’s Visit To BOI

During the visit of Mr Hikmet Ersek, Western Union’s President/CEO to BOI, the two institutions reviewed the first ever Live Banking Panel that they jointly organized in Lagos in 2012 and discussed the next edition scheduled for November 2013 also in Lagos.  The 2012 event featured more than 75 entrepreneurs of small and medium enterprises drawn from Nigeria, some African countries and the United States of America who presented their business plans to a panel of bankers that included BOI and ten commercial banks . The event was designed to deepen access of SMEs to credit and strengthen their capacity.

Entertainment News

D’banj unveiled as BOI’s ambassador in the creative industry

In keeping with the Bank of Industry’s commitment to supporting the creative industry in view of its current and potential contributions to the Nigerian economy through job and wealth creation, the Bank recently designated Mr Dapo Oyebanjo popularly known as (D’banj) as its Ambassador in the creative industry. The unveiling ceremony took place at BOI Head Office in Lagos.

In this capacity, D’banj will serve as one of the vital bridges between BOI and the various stakeholders in the entertainment industry with a view to facilitating access to BOI’s facilities and also in advising on industry needs as well as challenges and how they can best be overcome by the Bank and other relevant institutions.

At the brief ceremony, BOI’s Managing Director and Chief Executive Officer, Ms Evelyn Oputu, indicated that the choice of D’Banj as its Brand Ambassador was to showcase and uphold  him as a shining example of  some of the disciplined and talented Nigerian artistes who are using their endowments to enhance themselves and benefit the people around them to the greater glory of their fatherland.

An elated D’banj thanked the Bank and promised to work to justify his choice as BOI’s Brand Ambassador in the creative industry.

Prior to various inititiatves that the Bank recently rolled out in support of the creative industry in Nigeria, it had in recent years leveraged its domestic and international development partners to mobilise support for the nation’s talents in the creative space. This is especially so in the area of capacity building which is a precondition for actualising the industry’s potentials and the subsequent conversion of such potentials to profit.

First of such endeavours was a training programme that was organised by BOI in partnership with the Enterprise Development Centre, (EDC) of the Pan Atlantic University and the British Council in 2010.