• Privacy Policy
  • Terms
  • About us
  • Contact Us
Thursday, March 30, 2023
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

Bank of Industry creates 9m jobs

Jobs

The Matters Press by The Matters Press
March 31, 2022
Reading Time: 2 mins read
0
BOI wins award for $1bn syndicated term loan facility

President Muhammadu Buhari has praised the Bank of Industry (BOI) for creating over 9 million jobs in the last seven years.

RELATED POSTS

U.S. hikes visa fee

DMO, Centre task incoming administration on revenue generation

NMDPRA to resume safety audit of petrol outlets, tankers operations

He on Thursday also commended the bank for disbursing over N1.24 trillion to 4.2 million beneficiaries in Micro, Small, Medium and Large enterprises.

Speaking at the commissioning of the Second Tower of BOI building, President Buhari said that the Bank has continued to successfully execute its mandate as a policy institution of the Federal Government, extending single digit interest rate loans to manufacturers.

ALSO READ  Premium Trust Bank enters Nigeria’s financial sector

He commended the management of the Ministry of Industry, Trade and Investment and BOI for their contributions to the economic development of the country and wellbeing of Nigerians.

The President said: “In order to further enhance its capacity to impact the industrial sector on a transformational scale, I approved the issuance of a sovereign guarantee to help the Bank raise funds in the Eurobond market.

‘‘I am glad to note that the Bank has recently completed the transaction by raising 750 million Euros from international investors.

“The proceeds of this Eurobond will be disbursed to Large, Medium & Small Enterprises, and women entrepreneurs with bankable projects.

ALSO READ  Manufacturing sector creates 1.64m jobs

‘‘It is commendable that the Bank sources its own funds for lending based on its investment grade ratings by the rating agencies.”

President Buhari, therefore, urged the management of the Bank to ensure that its impact is felt all over the country.

On the new building, the President said he was “particularly impressed that this world class building was financed from Internally Generated Revenue (IGR) of the Bank.

“The building represents the Bank’s contribution to the growing list of work-related infrastructure in the Federal Capital Territory. It is another remarkable milestone in the Bank’s growth.”

Mr Adeniyi Adebayo, the Minister of Industry, Trade and Investment, thanked the President for the confidence reposed in the bank, appointing it partner of several laudable projects which have helped in poverty reduction, job creation and sustenance of indigenous enterprises.

ALSO READ  Shameful for importing petrol

He also lauded the President for approving the sovereign guarantee for the BOI’s maiden 50 million Euro-Bond issue which was successfully concluded in February this year.

He added that the feat represents BOI’s first Euro-Bond denominated transactions from Nigeria, which will create a benchmark for other prospective issuance from Africa.

Tags: Jobs
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Visa-on-arrival counters expanded
Economy/Technology

U.S. hikes visa fee

March 30, 2023
DMO raises N615bn Sukuk fund for roads
Economy/Technology

DMO, Centre task incoming administration on revenue generation

March 30, 2023
NMDPRA to release regulations on midstream, downstream operations
Economy/Technology

NMDPRA to resume safety audit of petrol outlets, tankers operations

March 30, 2023
Zenith Bank unveils N765.6bn gross earnings
Economy/Technology

Zenith Bank grows gross earnings to N945.5bn in 2022

March 29, 2023
Eswatini for $140m Afreximbank’s credit
Economy/Technology

Afreximbank releases $10m finance facility to Parallex Bank

March 29, 2023
New Naira notes unavailable even as CBN campaigns for acceptance
Economy/Technology

NLC, TUC concede two weeks to CBN to end cash crunch

March 29, 2023
Next Post
Maritime workers begins strike July 3

Ganduje to discuss Kano Inland Dry Port at governor's forum

SON sure to certify 75% products in Enugu, Ebonyi states by 2023

SON urges manufacturers to fight counterfeiting

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended Stories

Trading in Nigerian stock market dips further N83bn

Stock market recedes by 0.26%

April 2, 2022
5G network for launch 2020

Telecoms record 199.5m active voice subscribers

June 28, 2022
Nigeria mulls crude-for-product deal

CSOs seek dialogues on PIA and Divestments by oil firms from onshore assets

March 21, 2022

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • U.S. hikes visa fee
  • DMO, Centre task incoming administration on revenue generation
  • NMDPRA to resume safety audit of petrol outlets, tankers operations

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2022 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2022 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?