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BoI Affirms Commitment To Attracting Cheap Funds For Industrialisation



The Bank of Industry (BoI), has reaffirmed its commitment to attracting foreign investments into the country. Indeed, the development finance institution (DFI) pointed out the need to boost the confidence of foreign investors in the Nigerian economy while also providing access to capital for investments in a bid to create wealth and job opportunities for the teeming unemployed youths.

Managing director, BoI, Olukayode Pitan, at a meeting with the ambassador of the United Arab Emirates to Nigeria, Fahad Obaid Al Taffag, in Lagos yesterday, said the bank was ready to support genuine foreign businesses that were willing to invest in Africa’s biggest market.

“So if you are thinking about bringing in companies to invest in the country, we will be willing to partner with you and give those companies the kind of facilities we have to support their investments. We know that we have a good relationship with your country. I understand you want to know what we do and how we can mutually cooperate for the benefit of the two countries,” he said.

He added that the bank just concluded a syndication trying to raise about $5 million to support industrial development in the country.

In his response, the ambassador said the meeting was to understand the mechanism at which the bank operates, while also seeking areas of cooperation where both countries could explore in the nearest future.