President Muhammadu Buhari has approved the renewal of the appointments of Mallam Aliyu AbdulRahman Dikko as Chairman and that of Mr. Olukayode Pitan as the Managing Director/CEO of the Bank of Industry, BOI, for another term of five years.
The renewal which takes effect from May 27, 2022, was conveyed in a letter signed by the Secretary to the Government of the Federation, Mr Boss Mustapha, and dated March 11, 2022.
Under the leadership of the duo, BOI delivered results on its mandate to transform Nigeria’s industrial sector by providing long-term financing and counter-cyclical loans diversified across industries such as agro-processing, gender businesses and renewable energy, among others.
In the last five years, BOI has promoted financial inclusion by supporting the expansion of over three million enterprises, thereby creating over seven million jobs.
To expand its capital-base, meet the needs of its customers and contribute to Nigeria’s economic growth the BOI under the current leadership forayed into the international market and raised about $3.8billion in the last five years.
This includes a $750 million syndicated medium-term loan in 2018 (fully paid); a €1billion syndicated loan in March 2020; a $1billion syndicated loan in December 2020; and a €750million Senior Eurobond (the first by any African national DFI) in February 2022.
Vanguard News Nigeria