For those of you out there that have been searching for information on how to get BOI’s loan. This article contains the basic knowledge of BOI and the criteria/requirement for getting loan from the financial institution.
Overview:
The BankOf Industry Limited (BOI)is Nigeria’s oldest, largest and most successful development financial institution. It was restructured in 2001 out the Nigerian Industrial Development Bank (NIDB) Limited, which was incorporated in 1964. The bank took off in 1964 with an authorized share capital of 2million (GBP).
The International Finance Corporation which produced its pioneer Chief Executive held 75% of it’s equity along with a number of domestic and foreign private investors. Although the bank’s authorized 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.
Mandate:
BOI was established and mandated to provide financial assistance for the establishment of large, medium and small projects as well as expansion, diversification and modernization of existing enterprise; and rehabilitation of ailing ones.
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