BOI SET TO DISBURSE N200BN TO SUPPORT BUSINESSES ACROSS THE COUNTRY

The Federal Government of Nigeria through the Federal Ministry of Industry, Trade, and Investment (FMITI), has established three funds totaling N200,000,000,000 (Two Hundred Billion Naira) to support businesses across Nigeria: The Presidential Conditional Grant Scheme (PCGS); The FGN MSME Intervention Fund; and the FGN Manufacturing Sector Fund. The Bank of Industry (BOI) has been appointed […]

Federal Government Launches Expanded MSME Clinics in Benue State

In a dedicated effort to strengthen Micro, Small, and Medium Enterprises (MSMEs) across the nation, the Federal Government has officially unveiled the Expanded National MSME Clinics. The maiden edition of the program held in Makurdi, Benue State on January 9, 2024, with a special focus on the thriving MSME sector in the state. Speaking at […]

BOI at the 24th Annual World Economic Forum Meeting

At a special session at the 24th Annual World Economic Forum Meeting ongoing in Davos, Switzerland, Dr. Supo Olusi, Managing Director, Bank of Industry  attended the unveiling of the audacious "timbuktoo" initiative by the UNDP, an initiative dedicated to propelling Africa's innovation and startup ecosystem. As Africa emerges as a tech superpower, highlighted by private [...]

BOI Becomes First Nigerian DFI to be a Signatory to The UN Principles For Responsible Banking

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BOI Concludes US$1,000,000,000 Syndicated Term Loan In The International Market

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Don’t Be A Victim Of Fraud

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10,000 Traders Get Tradermoni In Bayelsa

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International Bankers Magazine awards BOI as foremost DFI

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BOI increases intervention to MSMEs to N33.9bn, posts N36.7bn profit

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BOI and All On partner to establish ₦1 billion Niger Delta Off-Grid Energy Fund

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Bank Of Industry Hosts Kenya’s Top DFI

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BOI promotes Nigeria’s investment possibilities to United Arab Emirates

The Bank of Industry (BOI) has encouraged investors from Dubai to harness the investment possibilities that the Nigerian business environment provides. In buttressing its position, the Bank insists that both countries are yet to optimise the vast business opportunities that exist in both economies, pointing out the need to deepen trade ties between Nigeria and […]

Vice President Yemi Osinbajo Inaugurates Shared Facilities For MSMEs In Ibadan

Vice President Yemi Osinbajo on Saturday inaugurated Micro, Small and Medium Enterprises Shared Facilities for Fashion, Style and Shea Butter production in Ibadan, Oyo State. The project is a Federal Government project to be carried out in collaboration with the Oyo State Government, and other federal agencies aimed at promoting MSMEs in the country, including […]

ISO 9001: Quality Management System Award Certification

Following the successful implementation of the ISO 9001:2015 Quality Management System (QMS) Certification Programme, we are delighted to announce that the Bank of Industry has been awarded the ISO 9001:2015 Quality Management System (QMS) Certification by DQS GmbH; one of the foremost and globally recognized ISO Certification Institutions. This Certification sends a strong signal to […]

FG Inaugurates BoI Board of Governance

A 10-member board of the Bank of Industry (BoI) has been inaugurated by the Minister of Industry, Trade and Investment, Dr Okechukwu Enelamah, which a charge to lift the bank to greater heights. The members include Aliyu AbdulRahman Dikko as Chairman; Olukayode Pitan, Managing Director/Chief Executive Officer; Waheed  Olagunju, Executive Director (SME); Mrs Toyin Adeniji, Executive […]

BoI Officials Visit Set of Steph Nora Okere’s ‘Roberta’

The director’s voice brought an instant quietness on set, as cast and crew stood by for the next shot call. Scene 16 of the film, entitled ‘Roberta’, had notable actor Kalu Ikeagu and actress Somkele Iyamah Idhalama in the jolly good mood. The former had just returned home to his wife who, and together, they giggled […]

BoI, Ebonyi Set Up N2bn Fund for MSMEs

The Bank of Industry and the government of Ebonyi State on Friday, 23rd of June, 2017 agreed to set up a N2bn fund for the development of the Micro, Small and Medium Enterprises in the state. The agreement for the N2bn fund was finalised by the Managing Director of the BoI, Mr. Kayode Pitan, and the […]

BOI Pledges Funding Support to the Agro-processing Sector in Edo State

The Bank of Industry (BoI) has pledged more funding support to industrialists in Edo State to enable them to create value for their agricultural produce. Managing Director of the bank, Mr Olukayode Pitan gave the assurance during a meeting with the Edo Governor, Mr Godwin Obaseki at the Government House, Benin City. The visit was […]

BoI, Benue Govt Seal N2bn MSMEs Financing Agreement

The Bank of Industry (Bol) and the Benue State government have launched a N2billion Micro Small and Medium Enterprises (MSMEs) development fund to boost the entrepreneurial potentials of citizens in the state. Under the financing model, both parties will contribute N1billion each for on lending to mainly businesses that have high employment generating potentials and value […]

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 Memorandum of Understanding (MoU) with […]

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 business operators in the state […]

BoI Disburses N48.44m to 15 Entrepreneurs Under KADSTEP Scheme

Having met its risk acceptance criteria for their proposed businesses, the Bank of Industry (BoI) has disbursed N48.44million loan to beneficiaries of the Kaduna Start up Entrepreneurship Programme. According to the bank, apart from benefiting from other loan windows of the bank, under the KADSTEP, successful small business operators would also have opportunities to leverage […]

Bank of Industry’s Managed Funds Increase to N44.6 billion

The managed funds under the portfolio of the Bank of Industry (BOI) has hit N44.6 billion as at the end of 2015 financial year. The funds have however risen above the figure considering various Memoranda of Understanding sealed with its stakeholders since the beginning of 2016. Some of the funds managed by the Bank as […]

BOI Partners With The Iwo Community On Production of Local Fabrics

The Bank of Industry (BOI) has partnered with Iwo community of Osun State to promote use of local fabric in fashion lines. The Acting Managing Director of the Bank of Industry (BOI), Mr. Waheed Olagunju, who was invited to Iwo by the Oluwo of Iwo said that the Bank Of Industry Limited is ready to […]

MD/CEO of BOI, Waheed Olagunju Praises Dr Mike Adenuga as Being Worthy of Emulation

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 remark during the presentation of […]

Bank of Industry, Abia State Government Float N1bn Lifeline for SME Operators

Nigeria’s main financial development institution, the Bank of Industry (BoI) and the Abia state government have inked an agreement under a Memorandum of Understanding (MoU) to pump N1 billion into the Small and Medium Enterprise (SME) sector of the state. The fund as well as capacity building for effective deployment, will be made available to […]

BoI Disburses N83.5bn to 776 Enterprises in 2015, Posts N44.7bn Profit

The acting Managing Director, Bank of Industry (BoI), Mr. Waheed Olagunju has disclosed that a total sum of N83.5 billion was disbursed to 776 enterprises by the development finance institution in 2015. He said the interventions further helped to create over 400,000 jobs for Nigerians. Speaking in Abuja at the bank’s 56th annual general meeting […]

BOI, Kaduna Govt Targets 20,000 Jobs in Entrepreneurial Development Scheme

The Bank of Industry (BoI) in conjunction with the Kaduna State government and Kaduna Business School have launched a business development plan in which they seek to create about 20,000 jobs within the initial four years of the programme. Also, 4,500 small business operators are expected to be trained under the new funding arrangement. The scheme, […]

BoI Prescribes Smart Tech to Promote Competitiveness in the Manufacturing Sector

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 the manufacturing sector of […]

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 the viability of the […]

Bank of Industry Visits Filmmaker On Set

As shoot of Queen Amina continues in Jos  Having financed top film projects such as Biyi Bandele’s Half of a Yellow Sun, Michelle Bello’s Flower Girl and Kunle Afolayan’s The CEO, the next indication of Bank of Industry (BOI)’s support for Nollywood has emerged in Queen Amina, a period story of the legendary Hausa Muslim warrior […]

BOI to Improve Real Sector Intervention with the Enhanced Balance Sheet

Despite expanding its financing schemes to the Small and Medium Enterprises (SMEs) sector as well as youth empowerment initiatives, the Bank of Industry (BoI) has unveiled plans to enhance its balance sheet as part of efforts to improve its intervention in the real sector. According to the bank, most of its intervention schemes are being […]

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 highest scores recorded during the evaluation. Specifically, […]

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 that the Bank would be introducing, […]

BOI Nolly Fund To Boost Your Creative Media Business

The Bank of Industry (BOI), in its bid to salvage other sector s of the economy in order to improve their contributions towards Nigeria’s GDP, has raise various funds targeted SMEs with the aim of expanding their asset-base to enable them carry on projects of larger scale. The film sector of the entertainment industry is not […]

Access Boi Capital 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 agro processing plants that will produce […]

Presidency exempts NNPC, PHCN, BoI, 10 others from TSA

The Federal Government has exempted 13 government agencies from the  current Treasury Single Account (TSA) arrangement related to electronic or e-collection  and mop up exercise of government funds from commercial banks. A circular exempting the  agencies was communicated to Central Bank of  Nigeria (CBN) from the Office of the Accountant-General of the Federation  (OAGF). The exempted agencies […]

BoI secures AfDB’s $100m facility 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 in export-oriented businesses, is the […]

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 who spoke at the […]

BoI’s intervention to creative industry hits N2b under Nollyfund

With seven projects presently accessing its facilities and another 10 at different stages of loan approval, the Bank of Industry (BOI) has unveiled plans to facilitate access of members of Nigerian Creative Industry to its facilities, as intervention to the sector hits N2 billion. Speaking during a visit to the set of a film by […]

BOI Secures CBN License, Repositions for Service

The Bank of Industry (BOI) has secured Central Bank of Nigeria’s (CBN) license, having met the requirements set by the apex bank for all existing Development Finance Institutions (DFIs) in the A statement from bank explained that the CBN has approved its application for the issuance of the required license, in line with the CBN […]

Accessing BOI’s Agric Processing Fund

Agriculture is the mainstay 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 the establishment of cottage agro-processing plants to […]

BOI Charges Textile Producers to Focus on Technology Acquisition

Bank of Industry, Mr. Rasheed Olaoluwa has said that for the nation’s textile producers to remain competitive, they must leverage on the emerging technology in the sector. Olaoluwa, who spoke during the Annual National Education Conference in Kaduna, noted that the adoption of new technology would not only help textile producers in cutting the cost of […]

BOI Provides Funding For Ikorodu Entrepreneurs

Stakeholders in Ikorodu commercial and industrial sector, especially the Small and Medium Enterprises, are set to benefit from funding opportunities provided by the Bank of Industry. According to a statement from the Ikorodu Chamber of Commerce and Industry, the opportunities are to be unveiled at the 7th Business Luncheon of the ICCI. The statement added that […]

BoI partners with 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 an investment commitment of $6 million […]

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 Tailors and Fashion Designers (ATFAD), […]

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, who disclosed this during the commissioning […]

BOI Urges Gombe State Government to “Pay your N250m Contribution”

The Bank of Industry (BOI) has called on Gombe Sate government to urgently release its outstanding counterpart contribution of N250 million to the matching fund to enable it facilitate job creation in the state through funding of loan under the matching fund scheme. The Managing Director/CEO of the Bank, Rasheed Olaoluwa spoke in Gombe during […]

17 Million SMEs Not Registered with Corporate Affairs Commission – Joseph Babatunde

The Divisional Head, Large Enterprises, Bank of Industry, Mr. Joseph Babatunde, has said that more than 17 million small businesses in Nigeria are in the informal sector and not registered with the Corporate Affairs Commission. He added that the number constitutes 99.87 per cent of all small businesses in the country. Babatunde said this while […]

BOI’s N823bn Loan Created 1.8m Jobs in Nigeria – Waheed Olagunju

The Executive Director, Small & Medium Enterprise directorate of BOI, Mr. Waheed Olagunju, has disclosed that the Bank granted a loan of N823 billion to 4, 000 beneficia­ries in the last fourteen years. Disclosing this in Lagos, Olagunju said the loan created over 1.8 million jobs from 2001 to 2014. He, however, said that the […]

BoI Launches N1bn Fashion Fund for Women Entrepreneurs

In fulfilment of its commitment to developing special funds and credit products for specific SME clusters and customer segments, the Bank of Industry has announced the establishment of N1bn fashion fund for women entrepreneurs. According to the Managing Director, BoI, Mr. Rasheed Olaoluwa, the initiative is in line with the efforts of the bank to […]

Boost For Nigerian Designers As BOI Unveils SME Fashion Fund

Nigerian designers seeking funds for expansion can now approach the Bank of Industry which has launched the N1 Billion Fashion Fund for players at the micro-, small- and medium-scale levels. The Fashion Fund joins two other SME funds recently launched by the country’s development bank: the 5 Billion Cottage Agro Processing Fund and the 1 […]

BOI Refutes Custody of $200m Entertainment Fund

The Bank of Industry (B0I) has debunked insinuations that it is in custody of any fund announced by former President Goodluck Jonathan, as grant to a the Nigerian motion picture industry. The Bank was reacting to reports credited to veteran actor, Larry Williams, urging President Muhammadu Buhari to probe a certain $200 million purportedly placed […]

BOI Restates Commitment to Agric Business Financing

The Managing Director, Bank of Industry, BOI, Mr. Olaoluwa, yesterday restated the bank’s commitment to continue to provide financial support to agribusiness entrepreneurs in the country as a strategic option of improving their productivity and ensuring their products can compete in the global market. Giving the assurance at the maiden Annual General Meeting, AGM, of […]

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 Council, Institute of Information Management, Amb. […]

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, Mr Rasheed Olaoluwa, who made this […]

BOI Disburses N497M To SMES In Niger State

Managing Director, Bank of Industry (BoI), Mr. Rasheed Olaoluwa, has put the loan disbursement to entrepreneurs under its Micro Small and Medium Enterprises Fund (MSME) in Niger State at N497 million. Beside the matching fund, he said the bank had on its own, disbursed direct loans in excess of N225 million to enterprises in the […]

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 relationships in the country. Managing Director, BOI, Mr. Rasheed Olaoluwa explained that the certification means that the Development Finance Institution (DFI) has already achieved its strategic objective of adopting global best […]

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 in collaboration with the United […]

Fitch Assigns BOI AA+ On Credit Performance

The renowned international rating agency, Fitch, has assigned Bank of Industry (BoI) a national long-term rating of AA+(nga) and national short-term rating of F1+(nga) as the national ratings reflect the bank’s creditworthiness relative to the best credits in Nigeria. Fitch’s rating is coming on the heels of a domestic credit rating of A- secured by […]

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 National Long-term rating of ‘AA+(nga)’ […]

Rumbu Nigeria Sets To Hit 2000 Workers In Kano

In Kano city, Rumbu Sacks Nigeria Limited has said it will increase its workforce to 2000 Nigerians with its ongoing expansion project. The woven sacks and mat company owned by former speaker of the house of representative turned entrepreneur, Alhaji Ibrahim Salisu Buhari is a beneficiary of various loans facility from the Bank of Industry […]

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. BOl manages the fund for […]

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 Limited, UNTL […]

BOI, Taraba State Seal N700m MSMEs Financing Pact

The Bank of Industry and the Taraba State Government on Wednesday signed a Memorandum of Understanding for the establishment of a N700m Micro, Small and Medium-scale Enterprises Development Fund. The pact, which was sealed in Abuja, saw the Managing Director, BoI, Mr. Rasheed Olaoluwa, signing on behalf of the bank, while the Governor of Taraba […]

BOI Offers Digital Products To Boost SME Development

The Bank of Industry (BOI) has released five digital applications that will enhance development among the over 2,500 Small and Medium Enterprises (SMEs), that are linked to the bank’s website. The digital solutions, which will address SMEs challenges in the digital age, is expected to also promote entrepreneurial business in the areas of funding and […]

BOI – SME Customer Portal Provides B2B linkage opportunities for SMEs

The SME Customer Portal is a platform that provides information about BOI’s SME customers in terms of their contact details, and value propositions. The main objective is to enhance the visibility of the SMEs and showcase their products thereby providing business-to-business (B2B) linkage opportunities among SMEs and between SMEs and their key partners such as […]

BOI Reforms Loan Application Tracking System In Nigeria

The Loan Application Tracking System is an IT tool developed to further enhance customer service delivery to our SME loan applicants. The tool enables customers to obtain online, real time updates on loan requests submitted to the Bank through an innovative loan status tracker on the Bank’s website: www.boi.ng/apply/track. Customers are therefore relieved of the […]

BOI Strengthens SME Financial Management with SAAPP

One of the major weaknesses of SMEs is poor record keeping and weak financial management, which makes it difficult to evaluate their financial performance and invariably inhibits their ability to access loans from banks or attract investors. To address this deficiency, Kinesis Consulting Limited in partnership with BOI, has developed an SME Accounting Application (SAAPP). […]

Presentation Of Cheques To The Beneficiaries Of Kdsg-Boi MSMEs Fund

The Kaduna State Government, under the able and purposeful leadership of His Excellency, Alhaji (Dr) Mukhtar Ramalan Yero and the Bank of industry entered into a partnership,& set up a Business Development Fund wherein Kaduna State Government and Bank of industry Contributed the sum of Five Hundred Million (500,000,000) each totaling One Billion Naira (1,000,000,000.00) […]

Bank Of Industry Introduces Nollyfund

BANK OF INDUSTRY INTRODUCES NOLLYFUND In continuation of BOI’s support for the Nigerian Creative Industry, BOI has developed a special Product Program called “BOI NollyFund” under which Nigeria’s leading movie producers will receive financial support to produce international quality films and screen them through various platforms of movie distribution available both in Nigeria and internationally. […]

BOI Secures A- Rating From Agusto & Co

BOI Secures A- Rating From Agusto & Co The Bank of Industry (BoI) has secured a domestic credit of A- rating by Agusto & Co, a leading Nigerian credit rating agency.  By the rating , the Bank has been adjudge to be a financial institution with good financial condition and a strong capacity to repay […]

BOI, 10 SME Friendly Commercial Banks Seal Pact On Financing Frameworks For SMEs

In a bid to address financing challenges confronting small and medium enterprises in the country, the Bank of Industry (BoI) has signed a memorandum of understanding with 10 deposit money banks on new frameworks to support the SME sector. The commercial banks include Access Bank Plc, Diamond Bank Plc, Ecobank Limited, Fidelity Bank Plc, First […]

President Goodluck Jonathan hosts a presidential launch of the Top 100 Business Initiative

President Goodluck Jonathan  hosted a presidential launch to unveil the  top 100 companies operating in Nigeria under the Top 100 Business Initiative designed to mark the Nigeria centenary. The President , stated that the Federal Government identified 100 companies contributing to the nation’s economic growth and decided to recognize them. Mr Aganga said, “Behind Nigeria’s […]

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 that his intention is to make cars more affordable […]

BOI Signs On 122 BDSPs in bid 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’ capacity to apply for and secure financing from the Bank. Speaking at the event, the Managing Director/CEO, […]

Unveiling Of The Cassava/Wheat Composite Flour

Chairman, Senate Committee on Agriculture, Senator Emmanuel Bwacha; Zonal Manager, Bank of Industry(BOI), Mrs. Bisi Ajayi; Minister of Agriculture and Rural Developemnt, Dr. Akinwunmi Adesina; Chairman, Honeywell Group, Mr. Oba Otudeko and Permanent secretary , Federal Ministry of Agriculture and Rural Development, Mr. Sunny Echono at the handing over of equipement to master bakers in […]

BOI’s Day @ LITF 2014

Meet, Interact and Network with Bank of Industry on BOI’s Day at the 2014 Lagos International Trade Fair.

BOI, Agric. Ministry sign N13.6bn MoU to boost rice, cassava processing

The Bank of Industry has signed a N13.6bn Memorandum of Understanding with the Federal Ministry towards the establishment of ten rice integrated rice mills and six integrated cassava mills across the country. The signing took place in Abuja recently.

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 to apply part […]

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 of Industry Limited, during the […]

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 Managing Director of the Bank […]

Appointment Of Business Development Services Firms: Request For Proposal (RFP)

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 it does not engage agents or intermediaries to sell […]

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 Mohammed G. Alkali met with a […]

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. Rasheed Olaoluwa, consented on behalf […]

Mohammed Alkali, Executive Director (Operations), Has Tenure Renewed

The Federal Government has renewed the tenure of Executive Director, Operations, Bank of Industry (BoI), Mohammed Goni Alkali, for another four years. Mr. Alkali is a first class honours degree holder in Accountancy from Bayero University, Kano. He also holds a Master of Science degree in Accounting and Finance from London School of Economics in […]

Olaoluwa is BOI’s new MD/CEO

The newly appointed Managing Director and Chief Executive Officer of the Bank of Industry, Mr Rasheed Adejare Olaoluwa resumed duties at BOI’s head office in Lagos. The former Acting Managing Director and CEO of the Bank of Industry, Mr. Waheed Olagunju, who handed over to the new CEO, received him alongside other members of the […]

Building inter-agency alliance to boost industrialisation

The Acting Managing Director, Bank of Industry (BoI) Limited, Mr. Waheed Olagunju recently visited the Nigeria Export-Import Bank (NEXIM), one of Nigeria’s development finance institution (DFIs) to further seek collaborations between both institutions towards achieving the economic transformation objectives of the Federal Government.

Grand opening ceremony of Shongai Packaging Plastics and Recycling Plant

The Honourable Minister of Industry, Trade and Investment, Mr. Olusegun Aganga recently commissioned the Shongai Packaging Plastics Industries Limited, a state-of-the-art, flexible packaging and printing plant; and the Shongai Recycling Plant, both located in Sango-Otta, Ogun State. The two plants were financed by the Bank of Industry (BOI) and are owned by the SONA Group. […]

BOI, AFRIMA collaborate to improve structures in the creative industry

The Bank of Industry (BOI) is collaborating with the All Africa Music Awards (AFRIMA) to improve structures in the country’s creative and entertainment industries, with a view to increasing the economic benefits that harnessing these industries would bring to Nigeria. Stating this at a press briefing in Lagos, the acting Managing Director, BOI, Mr. Waheed […]

BOI commits to ease access to finance worries for MSMEs

The Bank of Industry (BOI) Limited has said that it is constantly innovating its processes to ensure that funding support is available to MSMEs. This is according to the General Manager, SME, Mr. Abdul-Ganiyu Mohammed at the tripartite meeting between the Bank and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and the […]

AFDB’s $500m facility ready for access soon – BOI

The Bank of Industry (BOI) is perfecting all documents pertaining to the release of the $500m Africa Development Bank (AfDB) Fund, and will soon make it available to industrialists, it has been announced. The announcement was made by the Chairman, Shareholders’ Committee of BOI Mohammed Kyari Dikwa in Abuja during the bank’s 53rd Annual General […]

AGM: BOI boosts Nigerian economy with N870bn in two years, posts 53.4% income growth

Bank of Industry, BoI has put the total loan disbursement across various sectors of the Nigeria economy within two years at N870.44bn and recorded more 53.4 per cent growth in its income in 2012, its chairman Shareholders Committee, Bank of Industry, BoI, Alhaji Muhammed Dikwa has disclosed. Speaking at the 53rd Annual General Meeting of […]

BOI and General Electric to boost SMEs’ access to infrastructure funding by N81bn

Foremost global infrastructure and technology company, General Electric (GE), and the Bank of Industry have in cooperation announced plans to create affordable access to funding to the tune of over N81 billion ($500 million) for the small and medium enterprises (SME) infrastructure sector. The agreement would see Bank of Industry and GE providing access to […]

BOI commits to increased involvement in Niger Delta economic development

The Bank of Industry has restated its commitment to drive economic development in Nigeria. This statement was made by the MD/CEO, Ms. Evelyn Oputu while receiving leaders of the Bonny Kingdom area of Rivers State at the bank’s headquarters recently. The visit is part of the activities in the build-up to a partnership between the […]

BOI partners with NYSC on youth entrepreneurship

The Bank of Industry (BOI) has signed a Memorandum of Understanding (MoU) with the National Youth Service Corps (NYSC) on youth entrepreneurship to encourage self sufficiency among graduates and help entrench the culture of self-reliance and social responsibility on youths. The Managing Director of the bank, Evelyn Oputu, at the signing ceremony explained that the […]

Award-winning international singer, Asa, visits BOI

Nigerian award-winning international Afro-pop and soul singer, Asa, paid a courtesy visit to the Lagos office of the Bank of Industry Limited. The visit is one of the many activities through which the Bank maintains a relationship with the creative industry in Nigeria. Asa’s relationship with the Bank dates back even longer, with the singer […]

BOI signs MOU to manage N4.3bn Cassava Bread Fund

The federal government, represented by the Ministry of Agriculture and Rural Development,has signed a Memorandum of Understanding (MoU) with the Bank of Industry (BoI) for the bank to manage the N4.3 billion cassava bread fund that would  support  small and medium enterprises (SMEs), master bakers and large  industrial cassava flour mills. The Bank of Industry […]

BoI looks to aid the creation of 3.5 million jobs in 2015

In line with its core mandate, the Bank of Industry (BoI) is poised to boost the creation of over 3.5 million jobs across the country through financial intermediation by 2015. BoI’s Managing Director, Evelyn Oputu, who made this known at the third annual seminar for Trade & Investment Correspondents and Editors, at Abuja, said the […]

BoI Takes on Nigeria’s Film Industry Distribution Challenges

To tackle the challenge of effectively getting into the hands of consumers of the output of the Nigerian movie industry worldwide, the Bank of Industry has moved to tackle the problem of distribution, which is the major setback to the nation’s movie industry. To deal with the issue, BoI is funding the country’s first credible, […]

BOI and Gombe State Government Launch N3 Billion MSME Development Fund

Barely two years after the Bank of Industry and the Gombe State Government jointly launched a N1 billion Micro Small and Medium Enterprises Development Fund (MSME) which was soon after Alhaji Ibrahim Dankwambo emerged as the Governor of Gombe State in May 2011, the two development partners launched the second phase of the Scheme in […]

Boi and Kano State Government Launch N2 Billion MSME Development Fund

Bank of Industry has consolidated its niche as a highly competent National Development Finance Institution with unique hands-on experience in the management of specialised development schemes and funds by co-launching a N2 billion Micro Small and Medium Enterprises (MSME) Development Fund with the Government of Kano State. The ceremony which took place recently in Kano […]

BOI, SMEDAN and ITF to Drive NEDEP to create 3.5 Million new jobs

The Bank of Industry, the Small and Medium Enterprises Development Agency of Nigeria and the Industrial Training Fund are the major drivers of the recently launched National Enterprise Development Programme (NEDEP) that has been designed to create at least 3.5 million jobs across the country through the development of the Micro, Small and Medium Enterprise […]

AFDB signs agreements with Bank Of Industry and Nigeria Export-Import Bank

The African Development Bank (AfDB) has signed two  agreements for the provision of two sovereign-guaranteed multi-tranche Lines of Credits (LOCs) with the Bank of Industry (BOI) and the Nigerian Export-Import Bank (NEXIM). Under the programme that is designed to support export-oriented small and medium enterprises, boost job creation and diversify Nigeria’s economy, a $500 million […]

BOI And The Enterprise Development Centre Of The Pan Atlantic University Conduct Training Programme For Executives Of Small Growing Businesses

One of the major challenges that has limited the access of small and medium-sized enterprises to credit facilities is their inability to present bankable proposals to financial institutions. Having recognised this, the Enterprise Development Centre of the Pan Atlantic University, Lagos in collaboration with the Bank of Industry organised a capacity building programme in Lagos […]

24th Quarterly Meeting Of Chief Inspectors Of Banks Hosted By BOI In Lagos

As part of BOI’s efforts at deepening its relationship with financial institutions across the country, the Bank hosted the 24th Annual Quarterly meeting of Chief Inspectors of Banks in Nigeria. The Managing Director/CEO Bank of Industry Ms Evelyn Oputu, who was chairperson of the occasion used the platform to canvass for banks in the country […]

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 […]

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 […]

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 […]

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 […]

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 […]

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