Bank of Industry earmarks N22 billion for Women owned businesses 2018

The Managing Director, BOI, Olukayode Pitan, explained that in 2017, a cumulative disbursement of about N20.5 billion was made to support women businesses in the country, maintaining that the N22 billion by way of disbursement this year, would represent a record breaking achievement of what the bank has done in the past 12 years.

The BoI boss represented by the Executive Director, SMEs, Waheed Olagunju, during an event to commemorate the international women’s day, said, “We are looking at ways to support businesses promoted by women, businesses owned by women, businesses led by women in terms of management or businesses that generate huge employment for women.

Source:  Guardian.ng

Bank of Industry Limited (abbreviated as ‘BOI’) is the oldest and largest Development Finance Institution (DFI) currently operating in Nigeria. It is owned by the Ministry of Finance Incorporated (MOFI) Nigeria (94.80%), the Central Bank of Nigeria (CBN) (5.19%) and private shareholders (0.01%). The bank has 11 members on its board and it is chaired by Aliyu Abdulrahman Dikko.

The bank is a parastatal under the Federal Ministry of Industry, Trade and Investment tasked with providing financial assistance for the establishment of large, medium and small projects as well as the expansion, diversification and modernisation of existing enterprises; and rehabilitation of existing ones. In line with the Nigeria Industrial Revolution Plan and Economic Recovery and Growth Plan (ERGP) released by the Government of Nigeria, the bank focuses on financing industrial projects in key sectors of the economy such as: Agro and Food Processing, Light Manufacturing, Gas and Petrochemicals, Engineering and Technology, Solid Minerals and Creative Industries (arts and entertainment). BOI also focuses on promoting youth entrepreneurship, women-owned businesses and renewable energy projects.

Source: https://en.wikipedia.org/wiki/The_Bank_of_Industry