FAQs

Bank of Industry is Nigeria’s oldest, largest and most successful Development Finance Institution (DFI). Incorporated in 1959 as Investment Company of Nigeria (ICON), transformed into Nigerian Industrial Development Bank in 1964 and ultimately into Bank of Industry (BOI) in 2001.
Consequently, BOI’s mission is to enable the transformation of Nigeria’s industrial sector by providing financial and advisory support for;
1. The establishment of large, medium and small projects/enterprises, and
2. The expansion, diversification, rehabilitation and modernisation of existing enterprises.

BOI’s mandate is the transformation of Nigeria’s industrial sector by providing financial and advisory support for;
1. The establishment of large, medium and small projects/ enterprises, and
2. The expansion, diversification, rehabilitation and modernisation of existing enterprises

Bank of Industry encourages local industrial production and value creation through manufacturing, production and agro processing activities.
The Bank primarily provides financial assistance, as well as business advisory/ support services to enterprises.

Being a key implementing institution of the Federal Government’s economic plans, the sectors supported by the Bank of Industry are a reflection of the priority sectors targeted by the government. These include: Agriculture (Agro Processing and Food Processing), Solid Minerals, Creative Industry, Oil and Gas (Midstream and Upstream), Healthcare, Technology etc.

Bank of industry primarily finances projects involved under manufacturing, production and agro processing.

The Bank of Industry provides both loans and special funds to enterprises in Nigeria.

The Bank of Industry provides business advisory, mentoring, capacity building services to enterprises in Nigeria.

All customers are eligible to receive non-financial services.

No. BOI provides business advisory support to its customers who desiren to access its loans.

The Central Bank of Nigeria (CBN) and the Ministry of Finance Incorporated (MOFI) both own over 99% of the Bank’s shareholding.