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Bank Of Industry (BOI) Opens New Branch In Kwara

Bank of Industry commissions Kwara State Office in Ilorin to boost financial inclusion for entrepreneurs in the state and improve turnaround time for customers.

Bank of Industry has approved loans totaling N11.6bn for 66 projects which created 5,018 direct and indirect jobs in Kwara, acting managing director/ CEO of the Bank of Industry (BOI), Waheed Olagunju says.

Waheed Olagunju, who spoke to the activities of the bank in the state, said the decision to create a strong presence in the state was to “deepen BOI’s credit delivery process”.

“It is noteworthy that the Kwara State Office is coming up as one of the twenty-two (22) State Offices established by BOI across the country,” he said.

“It is our hope and expectation that the establishment of the State Office will further strengthen the existing partnership between BOI and the Kwara State Government by way of enhancing financial inclusion for entrepreneurs in Kwara State, as well as greatly improving our service Turn-Around-Time to our customers.

“This is better appreciated when viewed against the fact that entrepreneurs in Kwara State were previously served by BOI Offices in Abuja, Akure and until last week Osogbo.”

Olagunju said “to date, BOI has recorded a total loan approval of N11.6 billion to 66 projects, including large enterprises (LE) as well as , medium, small and micro enterprises (MSMEs) in Kwara State of which about N365,254,402.61 is in respect of 42 MSMEs under the Matching Fund Scheme”.

“In terms of developmental impact, more than 5,018 direct and indirect jobs have been created. Some of the enterprises that BOI has assisted in Kwara State include: Kam Industries Nigeria Limited, Lubcon Limited, Tranquil Mazab, Gbose Quarries Limited, Wahan Foods Limited, Foodpro Limited, Mount Olive Nigeria Limited, Biomedical Limited”.

Olagunju appreciated the efforts of Abdulfatah Ahmed, governor of Kwara state for his support in setting up the bank.

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