Advertisement

Buhari Commissions BoI Tower, Says Bank Has Continued To Execute Its Mandate

Channels Television  
Updated March 31, 2022
BoI Tower 11 Building.

 

President Muhammadu Buhari has commissioned the new Tower of the Bank of Industry (BoI) named Tower II Building.

The official commissioning of the 15-story building was held on Thursday in Abuja with various dignitaries in attendance.

The President who participated in the commissioning via zoom explained that the Bank of Industry has disbursed loans worth billions of naira and created jobs for over nine million persons.

READ ALSO: Oil Prices Sink As US Considers Tapping Reserves, Stocks Struggle

“I’m particularly impressed that this world-class building will finance internally generated revenue of the bank. The BoI has continued to successfully execute its mandate as a policy institution of the Federal Government. Through the Bank of Industry, this government extended the single-digit interest rate loans.

“As part of this mandate, the Bank of Industry disbursed over N1.4trillion and over N4.2billion including micro, SMEs, and large enterprises, creating over nine million jobs from its inception,” President Buhari said.

The edifice which serves as the Corporate Headquarters of BoI is in the Business District of the nation’s capital in Abuja.

Dignitaries at the event include members of the Federal cabinet, captains of industries among others.

The mandate of the financial institution is to provide financial assistance for the establishment of large, medium, and small projects as well as the expansion, diversification, and modernisation of existing enterprises; and rehabilitating of ailing ones.