BOI Named ‘Best Development Bank’

Must Read

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is...

List of Access Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...

Top 10 Most Expensive Universities In Nigeria

For many Nigerians, high-quality higher education is a luxury. There are many private universities who are known not only...
BOI Named ‘Best Development Bank’BOI Named ‘Best Development Bank’

The International Bankers Magazine has conferred the Bank of Industry with the best Development Bank award.

The organiser of the award presented the award to the Bank at the London Stock Exchange recently, in recognition of its relentless drive to widen the spectrum of financial support to the nation’s entrepreneurs, especially the micro, small and medium scale enterprises and the players in the creative industry.

The award, according to industry players, was 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.

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.

Read:  The new Mercedes-Benz Actros – Truck of the Year 2020
- Advertisement -

In his remarks at the occasion, the Bank’s CEO, thanked the organisers of the award, assuring that the BoI would not relent on its efforts to boost Nigeria’s real sector through 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 institution to raise more funds to support more ventures with the potential to generate employment opportunities for the youths.

Read:  Bleak revenue prospect amid rising budget size: Paradox of Nigeria’s budgetary process

Pitan recently disclosed that a total of N44.34 billion was disbursed to beneficiaries of the federal government’s social intervention programmes at the end of 2018. He said through the implementation of the N-Power programme, one of the social protection schemes, soft loans valued at N15.34 billion were provided to 199,989 beneficiaries to purchase work-tools in sectors such as agriculture, health and education.

Read:  Fitch Affirms Bank of Industry at 'B+'; Outlook Stable
- Advertisement -

He added that under the Government Enterprise and Empowerment Programme (GEEP), which is also a component of the social investment programme, the Bank facilitated the disbursement of N29 billion to 1,550,000 beneficiaries nationwide through its flagship intervention namely TraderMoni and MarketMoni.

- Advertisement -

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

Uni-Bio Science Group Limited 2019 Announces Annual Results

Turnover Increased by 54.9% YoY to HK$209.4 millionRecording EBITDA of HK$28.4 millionAchieved Significant Progress towards Pipeline Product with 2...

Take the Emotion Beyond the Screen with the Philips OLED 804 TV

Lifelike imaging can only be experienced in pure 4K with UHD OLED Display SINGAPORE - Media OutReach - April 1, 2020 - The Philips OLED 804 TV is available...

Fashion Destination K11 MUSEA MUSE EDITION Launches First-Ever Global Fashion Venture K11|ANTONIA

Spread across 5,700 sq ft, the K11|ANTONIA flagship debuts at K11 MUSEA MUSE EDITION, the cutting-edge fashion destination for fashion insiders, with over 50...

Introducing SENTR™ by Primal: Asia’s First Campaign Management Platform (CMP)

Leading Local Agency Launches the Regions First Hybrid Customer Relationship Management and Project Management Tool KUALA LUMPUR, MALAYSIA - Media OutReach - 1 April 2020 -...
- Advertisement -
BrandsPur Weekly Cartoons
%d bloggers like this: