The Bank of Industry Limited (BOI) is Nigeria’s oldest, largest and most successful development financing institution. It was reconstructed in 2001 out of the Nigerian Industrial Development Bank (NIDB) Limited, which was incorporated in 1964. The bank took off in 1964 with an authorized share capital of 2 million (GBP).
The International Finance Corporation which produced its pioneer Chief Executive held 75% of its equity along with a number of domestic and foreign private investors. Although the bank’s authorized share capital was initially set at N50 billion in the wake of NIDB’s reconstruction into BOI in 2001, it has been increased to 250 billion in order to put the bank in a better position to address the nation’s rising economic profile in line with its mandate.
Following a successful institutional, operational and financial restructuring programme embarked upon in 2002, the bank has transformed into an efficient, focused and profitable institution that is well placed to effectively carry out its primary mandate of providing long term financing to the industrial sector of the Nigerian economy.
Eight (8) things you should know before you commence your application on this platform
Please note that the Bank is willing to share assets previously pledged to other lenders provided the Bank’s loan is adequately covered in the arrangement. Also note that the Bank is willing to accept third party collateral.
Please find out the documents you will be required to provide as you apply for the loan with the bank using their platforms. This enables you to be prepared and make your application process easier and quicker.
Equity Mobile App is a new mobile banking app that replaces the old Eazzy Banking…
Loop by NCBA is a digital banking service by NCBA Bank Kenya that lets customers…
What are the requirements for a customer to have a Timiza Account? Be a registered…
Absa Bank launched Timiza, a mobile banking App that allows people to apply for loans…
1. Fuliza Fuliza is an on-going overdraft service available for Safaricom’s M-PESA customers for them…
1. Mobile Loan Family Bank mobile loan allows both their customers’ and non-customers to access…