BoI spent N8bn on MSMEs in 2016 - Olagunju

The Bank of Industry (BoI) disbursed N8 billion on Micro, Small and Medium Enterprises (MSMEs) in 2016, being an increase of 42 per cent from the N5.6 billion disbursed in 2015.

The Acting Managing Director of the development bank, Mr. Waheed Olagunju, revealed this at the weekend shortly after receiving an award from the Alumni Association of the National Institute (AANI), for BoI’s efforts at financing development across the country.

Olagunju said the bank would sustain the increment on a yearly basis with a view to ensuring more Nigerians get access to finance to create opportunities for rapid development of the country.

The President of AANI, Major General, Lawrence Onoja (Rtrd), while presenting the award, noted that the contributions of the BoI in providing financial supports to enterprises across the country had endeared the bank to the association.

Olagunju said, “It is gratifying that the work of the Bank of Industry under my leadership is being recognized by virtually all segments of the Nigerian society. It is a good feedback that we are getting because we are Nigeria’s premier and leading finance institution.”

He said the bank is engaging on several activities geared towards the promotion of industrial activities and funding of such activities.

“On Tuesday we were in Ibadan with First Bank working with the First Lady of Oyo State to see how we can increase access of women in Oyo State to financing. On that same Tuesday we were with the Lagos State Chamber of Commerce and Industry to educate them on how they can access BoI facilities,”he said.