D’Banj is the Bank of Industry’s (BOI) new ambassador

D’Banj announced via his Twitter page that he is the new ambassador for the Bank of Industry (BOI). He is pictured above with Ms Evelyn Oputu, the Managing Director & Chief Executive Officer of Bank of Industry. Hmmm!!! I’d like to know what his responsibilities are.

Here’s a brief overview of the Bank of Industry, as culled from the organisation’s website

 The Bank of Industry Limited (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).

The International Finance Corporation which produced its pioneer Chief Executive held 75% of its equity along with a number of domestic and foreign private investors. Although the bank’s authorized share capital was initially set at N50 billion in the wake of NIDB’s reconstruction into BOI in 2001, it has been increased to 250 billion in order to put the bank in a better position to address the nation’s rising economic profile in line with its mandate.

Following a successful institutional, operational and financial restructuring programme embarked upon in 2002, the bank has transformed into 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.



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