The Bank of Industry (BoI) has secured Central Bank of Nigeria (CBN) licence after meeting the requirements for Development Finance Institutions (DFI), a statement from the institution said.
CBN had stipulated that “all existing DFIs whether established directly by an Act of the National Assembly, incorporated under Companies and Allied Matters Act (CAMA) or any other law shall be required to obtain licence from the CBN.”
Similarly, the bank noted that, to drive industrialization, it has embarked on strategic and tactical initiatives to reposition its operations.
“We have in recent times taken bold steps, both strategic and tactical, to reposition the Bank among which are the formulation of Strategic Plan 2015-2019; institutionalization of corporate governance structures; implementation of enterprise wide risk management and compliance systems; and introduction of mobile and digital platforms for interfacing with SMEs, thereby improving our efficiency.
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