The managing director and chief executive officer of Bank of Industry (BOI), Dr. Olasupo Olusi, has commended the management and staff of Thisday newspaper for giving the bank “Transaction of the Year Award” at the 30th Commemoration Awards organised by the media company.
Receiving the award, which has as its theme: “Thisday @ 30 When the going gets tough the tough gets rewarded,” in Lagos on Monday, Dr Olusi expressed his gratitude to Thisday’s publisher, Nduka Obaigbena and the newspaper’s management for recognising the efforts of those driving development financing in Nigeria.
Dr Olusi said BOI’s milestone fundraising in the African continent represented the largest ever raised by an African Development Finance Institution, remarking that it shows growing investor confidence in Nigeria and the Bank of Industry. He said, “We are very proud because we are positioned to support enterprise development in the country.”
Dr Olusi highlighted that this milestone fundraising reflects growing investor confidence in Nigeria and the Bank of Industry.
“We are very proud because we are positioned to support enterprise development in the country,” he said.
Addressing challenges faced by MSMEs, Dr. Olusi said, “We need to manage risk in organizations we are financing.”
According to the bank, BOI’s successful syndication of €1.879 billion from international financial markets represents a historic milestone, the most significant amount ever secured by any Nigerian or African development finance institution (DFI). According to BOI, this capital inflow is earmarked for MSMEs, a sector crucial to Nigeria’s economic landscape. The bank further stated that the new funds have significantly bolstered its balance sheet, increasing it from N3.9 trillion in 2023 to N7.1 trillion by December 2024.
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