Uche Usim, Abuja
The Bank of Industry (BOI) has released its 2018 operational report indicating it disbursed N259.6 billion to various business concerns in line with its mandate and government’s industrialization template.
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The funds, disbursed between January and December 2018 represents an increase of N147.1 billion (or 130 per cent) when compared to the N112.5 billion credit which the bank provided to businesses in the 2017 financial period.
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).