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International Bankers Magazine awards BOI as foremost DFI

The International Bankers Magazine has conferred the nation’s foremost
development finance Institution, Bank of Industry  with the best Development Bank award.

The organiser of the International Bankers’ award, IBM presented the award to the Bank  at the London Stock Exchange yesterday in recognition of its relentless drive to widen the spectrum  of financial  support to the nation’s entrepreneurs, especially the Micro, Small and Medium Enterprises and the players in the creative industry.

The award, according to industry players, is a  boost the bank’s efforts to raise funds from the international market to finance its  various intervention programmes in the nation’s real sector,  especially the fast growing  creative industry.

It will be recalled that on assumption of duty barely two years ago, the Managing Director of BoI,  Mr. Olukayode Pitan had hinted on plans to raise $500million from the international market. In his remarks at the occasion, the Bank’s CEO thanked the organisers of the award, assuring that the bank would not relent on its efforts to boost Nigeria’s real sector through an increased support to the  MSMEs.

He said the bank had  realised over $100million  profit within the ongoing financial year. While restating the bank’s commitment to financial prudence, Pitan expressed the determination of  the bank to raise more funds to support more ventures with the potential to generate employment opportunities  for the youths.

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