What is Bank Of Indusrty (BOI)?
What does BOI NG stand for?
The BOI stand for Bank Of Industry (BOI), and NG stand for Nigeria (NG) and the PLC stand for Public Limited Company (PLC) and LLC stand for Limited Liability Company (LLC) or Ltd for Limited.
Bank of Industry (BOI) ...transforming Nigeria's industrial sector.
The Bank of Industry or BOI for short is a private banking company owned by the Central Bank of Nigeria (CBN),
the Ministry of Finance incorporated Nigeria and private shareholders focused on providing loan credit facilities for
industrial & manufacturing sectors.
The Bank of Industry Limited (BOI) is Nigeria’s oldest, largest and most successful development finance institution. It was reconstructed in
2001 out of the Nigerian Industrial Development Bank (NIDB) Limited, which was incorporated in 1964.
The International Finance Corporation held 75% of its equity along with a number of domestic and foreign private investors,
while Nigerian government held 25% of the equity.
Today BOI is 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.
BOI have a Vision to be Africa’s leading Development Finance Institution (DFI) operating under global best practices. And
Mission to transform Nigeria’s industrial sector by providing financial and business support services to enterprises.
With a Mandate of providing financial assistance for the establishment of large, medium and small projects as well as expansion,
diversification and modernisation of existing enterprises, and rehabilitation of ailing ones.
BOI with the Federal Government wants to strengthen the existing relationship in good faith with various industries
domiciled in all the states to ensure that the Public-Private Partnership (PPP) agenda is built upon.
BOI will lend you money as long as you're determined to make your business a success. You don't need to know anybody
within BOI before it lends you money.
Note that if BOI loans you money and you defaulted, your name will be put in a "BLACK-LISTED" and no
banks in Nigeria will ever loan you money again. So, think very carefully before looking for a loan facility.
Just forget about planning how not to pay back before looking for loan facilities.
BOI will help you and suggest a number of practical steps or ways to build a resilience business for the future by
emphasizing on 3As- Act, Analyse, and Anticipate.
The Act focused on the short term horizon, and the initial few weeks of response to the crisis to ensure the
current situation was managed properly, continuity plans were brought into place and the wellbeing of workers was protected.
On Analyse, the emphasis on the medium-term horizon reflected the focus on starting to build a recovery path in
order to resume its business operations, planned in manageable phases.
In the Anticipate phase, the emphasis is on the longer-term horizon focused on innovation and understanding how
business must evolve in the face of the crisis.
BOI will encourage you to demonstrate a firm understanding of business development issues bordering on resource
mobilisation,collaboration with government agencies, development partners, follow due process, transparency and the rule
of law, which is in line with best practices and approach to managing business in civilised climes.
BOI CORE VALUES
• Innovation
• Integrity
• Passion
• Professionalism
• Resourcefulness
• Service
• Teamwork
E-passports, digital wallets, building access cards, debit and credit cards, banking information, transit passes, voter information,
and health records [all in one place for every person on Earth] - ID2020.org.
A number of central banks are actively exploring central bank digital currency options, and the Federal Reserve is monitoring these
developments closely. Because USA need the digital currency to help preserve the primacy of the dollar worldwide.
As cashless society allows the government total knowledge of, and control over the finances of every body.
Even though [Blockchain Feb 20] Sweden is now testing its digital version of cash, the e-krona. Also [Home/ Business News 27 May 2020 12:55] China to launch digital yuan next year {2021} to replace cash.
In general - All federal reserve banks shall, not later than January 1, 2021, make digital wallets available to all residents and
citizens of the United States and do businesses domiciled in the United States.
BOI INTERVENTION COVERAGE
Agro and food processing, Oil and Gas, Solid Minerals, Healthcare and Petrochemicals etc.
FUNDING
- Commercial credits
- Commercial banks
- Microfinance banks
- Developmental funding
- Development Financial Institution
- Bank of Industry (BOI)
- Bank of Agriculture (BOA)
- Federal Mortgage Bank (FMB)
- Development Financial Institution
- Intervention Funds
- Textile Intervention Fund
- Power Intervention Fund
- Aviation Intervention Fund
25th Edition of Micro, Small and Medium Scale Enterprises (MSME) Clinic In Asaba, Delta State
MSME was designed to drive growth of local businesses linking government agencies and small businesses.
The initiative will create a business-friendly ecosystem where MSMEs have unfettered access to relevant government
agencies.
Sponsoring the MSME Clinic at the Dome Event Centre, Okpanam Road, Asaba in Delta State are:
- Bank of Agriculture (BOA)
- Bank of Industry (BOI)
- Corporate Affairs Commission (CAC)
- Development Bank of Nigeria (DBN)
- Federal Inland Revenue Service (FIRS)
- Industrial Training Fund (ITF)
- National Agency for Food and DrugAdministration and Control (NAFDAC)
- National Information TechnologyDevelopment Agency (NITDA)
- Nigerian Export Promotion Council (NEPC)
- Nigerian Export-Import Bank (NEXIM)
- Raw Materials Research and DevelopmentCouncil (RMRDC)
- Small & Medium EnterprisesDevelopment Agency of Nigeria
- Standards Organisation of Nigeria (son)...improving life through standards
BOI STRATEGIC FOCUS
• Creative Industries
• Engineering and Technology
• Healthcare and Petrochemicals
• Oil and Gas
• Renewable Energy
• Solid Minerals
• Women and Youth
Occasionally, BOI brings in the Business Development Service Provider (BDSP) or the subject matter expert
(SME) Consultants to enhance credit delivery process for Small and medium-sized enterprises (SMEs) in Abuja,
Lagos, South East, South West, South South and South North.
The Business Development Service Provider BDSPs (created in 2014) Geographical Spread as follows:
| REGION | NUMBER |
|---|---|
| North Central | 47 |
| North East | 9 |
| North West | 22 |
| South East | 31 |
| South South | 43 |
| South West | 104 |
| National | 95 |
BDSP Responsibilities
• Develop bankable business plans andproposals
• Conduct periodic postfinancemonitoring
• Provide post-finance mentorship,hand-holding, financial advice
• Conduct capacity building programmes for prospective and current customers
• Inculcate the benefits of cluster ship,networking and cooperative formation
• Support SMEs in developing synergiesand sustainable relationship
REGIONAL DISTRIBUTION OF PROJECTS SUPPORTED IN 2019+
| REGION | ALLOCATION DISBURSED |
|---|---|
| North Central | N27.1bn disbursed to1456 enterprises |
| North East | N410.4mn disbursed to 89 enterprises |
| North West | N14.77bn disbursed to 363 enterprises |
| South East | N5.78bn disbursed to 241 enterprises |
| South South | N22.17bn disbursed to 121 enterprises |
| South West | N163.3bn disbursed to 7852 enterprises |
BDSP Performance Review (2015 - 2019 Summary)
• A total of 207.58million naira insuccess fees was paid to BDSPs between Sept 2015 - Nov 2019
• 126.55million naira in success fees waspaid to BDSPs between July 2018 - Nov 2019
• 61% of the total success fees paid so far to BDSPs werepaid in the last 16 months (July 2018 - Nov 2019).
This increase was primary driven by the upward review in fees earned by the BDSPs.
• A 75% (147.7mn) of the success fees paid were for loan approvals Vs 25% (49.1mn) of the success fees paid were for loans disbursed reflecting the fact that more work needs to be done in following up/monitoring of clients to achieve disbursement.
BDSPs Loan Performance FY'2015 (Jan) - FY'2019 (June) [Source: Risk Management Division (RMD), Bank of Industry]
Major Trends, Referred Customer Loan Performance FY2015(Jan) - FY2019 (June)
• By value, 92% (N13.8bn) of loans are performingvs 8% (N1.2bn) that are non-performing. This shows that BDSPs are getting goodquality transactions.
• 62% (92) of number of loans are performing Vs 39% (60) that are non-performing
THREE CORE PILLARS
- Risk Assets
- Balance sheet
- Income Statement
- Business Environment
- Economy
- Industry
- Competence
- Skills & Principles
- Integrity
Bank of Industry Supports Fashion Industries
• The current value of the global fashion industry stands at $3 Trillion Dollars.
• African Fashion industry is currentlyworth $31 Billion Dollars.
• Nigeria Fashion industry valued at $4.7Billion Dollars.... [source: Euromonitor 2019 data]
Bridging the gap of access through technology...
• Performance and Growth Pattern As At 31st October 2019 (Cumulative Risk Assets)
1. CONTENT PRODUCTION (N2.830bn)
2. PRODUCTION INFRASTRUCTURE (N1.283bn)
3. DISTRIBUTION INFRASTRUCTURE(N7.494bn)
4. MEDIA & PUBLISHING (N6.580bn)
5. HOSPITALITY & CULINARY(N21.958bn)
6. RECREATIONAL PARKS (N0.829bn)
7. ENGINEERING & TECHNOLOGY(N26.9bn)
8. FASHION (N0.005bn)
FINANCIAL LIFE-CYCLE
- Infancy and Childhood - Age 0-21 Focusis on Education/learning skills for the other stages of life.
- Professional Adolescence - Age 21-34 Focus on Building Financial Foundations
- Professional Maturity - Age 35-50 Wealth Accumulation and advanced planning
- Full Financial Freedom - Age 55 and above Wealth Harvest and Preservation.
• Disciplined budgeting
• Saving/Investment
• Asset Protection/Insurance
• Estate planning
• Retirement plan
SME Academy 2019 is about Optimising People, Process& Products
BOI with Procter & Gamble (P&G), BusinessDay Editorial Collaborate to support SME Academy 2019 - A commitment
to Nigeria's Entrepreneurship Ecosystem. Note that Procter and Gamble has been in business for 180+ years.
P&G give advice to be clear about your offering but never compromise excellent service delivery.
Also adhering to global standards will open international doors for local businesses. Entrepreneurs must learn
to build enduring, excellently structured businesses.
TOP 10 AGOA PRODUCTS
• 2. Shoes and Leather
• 3. African Foods
• 4. Coffee
• 5. Cocoa
• 6. Vegetables, Fruits and Nuts
• 7. Gemstones
• 8. Live Ornamental Fish
• 9. Furniture and Artworks
• 10. Printed Books, Brochures
TRADER MONI
TRADER / MARKET MONI Disbursement is a Government Enterprise& Empowerment Programme - A collateral-free loan
(from N10000.00 naira and N100000.00 naira) is targeted at Nigerian market men and women, to help boost their businesses.
Federal Government to disburse 30 thousand "TRADERMONI" LOANS in each state of the federation.
BOI and Vatebra Tech-Hub Providing Corporate Social Responsibility
- Co-work spaces
- Incubation
- Training
- Robotics
BOI sponsors Vatebra tech hub, Ajah. Also, 9 MOBILE partners BOI to supply high speed internet. BOI is a supporting hub in recognition of ingenuity and creativity of Youths inNigeria. BOI would replicate projects across the country.
Frequently Asked Questions (FAQ) on States Address of Bank of Industry:
• address of bank of industry
• address of bank of industry in port harcourt
• branches of bank of industry in nigeria
• establishment of bank of industry
• explain bank of industry
• explain the establishment vision and mandate of the bank of industry
• how can i get loan from bank of industry in nigeria
• how do i get loan from bank of industry
• how much does bank of industry pay
• how to apply for bank of industry grant
• how to apply for loan in bank of industry
• how to get grant from bank of industry
• how to get loan from bank of industry
• how to open account with bank of industry
• list the functions of bank of industry
• location of bank of industry in abuja
• the role of bank of industry in entrepreneurship development in nigeria
• what is bank of industry all about
• what is the function of bank of industry
• what is the meaning of bank of industry
• when was bank of industry established
• when was bank of industry established in nigeria
• where is bank of industry in abuja
• where is bank of industry in lagos
• where is bank of industry located in enugu
• where is bank of industry located in nigeria
• where is bank of industry located in lagos
• where is bank of industry located in ibadan
• where is bank of industry located in calabar
• where is bank of industry located in abuja
• who is the ceo of bank of industry ANSWER: Mr. Olukayode A. Pitan - Managing Director / Chief Executive Officer (CEO)
BOI Presence Across Nigeria as of Year 2020
| Head Office BOI Building, 23 Marina Road, Lagos Island, Lagos State www.boi.ng |
Corporate Office Plot 256, Zone A O, off Herbert Macaulay way, Behind Unity Bank, Central Business District, FCT-Abuja |
|||
|---|---|---|---|---|
| Abia State 25B Adelabu Street, Adelabu Housing Estate, Umahia, Abia State |
Anambra State 39, Zik Avenue, Akwa, Anambra State |
Bauchi State BOI House, Maiduguri Road, Bauchi State |
Benue State Plot BNA 8837, beside Fajeh Global Resources Filling Station, Ankpa Road, Makurdi |
Borno State 5 Sir Kashim Ibrahim Way, Opposite GT Bank, Maiduguri, Borno |
| Cross River State 115 Marian Road, Calabar, Cross River State |
Delta State Karyle Tower, No. 10, Delta State Broadcasting Station (DBS) Road, opp Deputy Governor's Office, Asaba Delta State |
Edo State Edo Production Centre, Magistrate Court Compound, Evbuoriaria, Sapele Road, Benin City, Edo State |
Enugu State 47 Coal City Garden Estate, Behind Central Bank, Osapara Avenue, Enugu State |
Gombe State Shonga Estate, near NNPC Depot, Gombe State |
| Kaduna State BOI House, PMB 2141 Muhammadu Buhari way, Kaduna State |
Kano State Plot 7, Guda Abdulani Road, City Center (Farm Center) Tarauni, Kano |
Katsina State 10, WTC Road, Zamani House,Opp CBN Building, GRA Katsina |
Kebbi State Plot A1, Sultan Abubakar Rd, GRA, Birin Kebbi, Kebbi |
Kwara State Adanma Bola Saad House, by Mat-Rite Supermarket, Ahmadu Bello Way, G.R.A llorin |
| Lagos State 3 Ashabi Cole Street, Agidingbi Road, CBD Alausa, Ikeja, Lagos |
Niger State DST Plaza, Paiko Road, by FRSC Oce, Tunga, Minna, Niger state |
Ogun State Oluwatoyin House, Lalugu Road, Okelewo, Abeokuta, Ogun State |
Ondo State Oba Adesida Road, opp First Bank, Alagbaka, Akure, Ondo state |
Osun State 10 Obafemi Awolowo way, Igbona, Osogbo |
| Oyo State Green Plaza, NTC Leaf Road, Beside FIRS Oce, Iyaganku GRA, Ibadan, Oyo |
Plateau State 15 Jengre/ Richard Road, Murtala Muhammed Way, Jos, Plateau State |
Rivers State 105 Olu Obasanjo Road, opp. Dominos Pizza, Port-Harcourt |
Sokoto State 6 Ahmadu Bello way, Sokoto |
Taraba State 72, Ham Maruwa Way, opposite GTBank, Jalingo, Taraba |
THE LENDERS OF BANK OF INDUSTRY
(Funding Bank of Industry Projects)
Who are the lenders or funding of industry funding projects? Following institutions are the bank of industry lenders:-
- African Export Import Bank
- African Finance Corporation
- Atlantic Forfaitierungs AG
- Commerzbank Aktiengesellschaft, Filiale Luxembug
- Credit Europe Bank N.V.
- Credit Suisse AG, London Branch
- Credit Suisse International
- Federated Project and Trade Finance Core Fund
- Federated Project and Trade Finance Tender Fund
- Finantia UK Ltd
- First Rand Bank Limited (London Branch),acting through its Rand Merchant Bank division
- ICBC Standrd Bank Plc
- Investec Asset Management Proprietary Limited acting as agent and portfolio manager of Investec Africa Credit Opportunities PCC Limited, relating to its Cell Investec Africa Credit Opportunities Fund 1A
- Investec Asset Management Proprietary Limited acting as agent and portfolio manager of Investec Assurance Limited
- Investec Asset Management Proprietary Limited acting as portfolio manager of Investec Africa Credit Oppotunities Fund 2
- KfW IPEX-Bank GmbH
- RMB International (Mauritius) Ltd
- Sanlam Life Insurance Limited (acting through its Sanlam Capital Market division)
- SBM Bank (Mauritius) Ltd
- Stanbic IBTC Bank Plc
- Standard Chartered Bank
- Sumitomo Mitsui Banking Corporation, London Branch
- Tunis International Bank
- Zenith Bank (UK) Limited