BOI Disburses N1.24trn To 4.2m Beneficiaries

The  Bank of Industry (BOI) disbursing over N1.24 trillion to 4.2 million beneficiaries drawn from the micro, small, medium and large enterprises.

President Muhammadu Buhari, who  disclosed this  at the  commissioning of  the Second Tower of the BOI building, in Abuja,also said that the bank  has created over nine million jobs in the last seven years.

He also  said the bank has continued to  execute its mandate as a policy institution of the Federal Government, extending single-digit interest rate loans to manufacturers.

He also commended the management of the Ministry of Industry, Trade and Investment and the BOI for  invaluable contributions to the economic development of the country and the wellbeing of Nigerians.

He added:“To further enhance its capacity to impact the industrial sector on a transformational scale, I approved the issuance of a sovereign guarantee to help the Bank raise funds in the Eurobond market.

‘‘I am glad to note that the Bank has recently completed the transaction by raising 750 million Euros from international investors.The proceeds of this Eurobond will be disbursed to Large, Medium & Small Enterprises, and women entrepreneurs with bankable projects.