BoI gives N11.6bn loans to Kwarans, commissions Ilorin office

The Bank of Industry (BoI) at the weekend doled out a whopping N11.6 billion to businesses in the state. This is coming just as it unveiled its head office in Ilorin, the Kwara State capital.

The Acting Managing Director of the Bank, Waheed Olagunju, who spoke on the activities of BoI in the state, said the decision to create a strong presence in Kwara was to deepen BoI’s credit delivery process”.

According to Olagunju, the Kwara office is coming up as one of the 22 States Offices established by BOI across the country.

He said with the presence of the Bank in Ilorin, it is execrated that it will further strengthen the existing partnership between BOI and the Kwara State Government by way of enhancing financial inclusion for entrepreneurs in Kwara State, as well as greatly improved Service Turn-Around-Time to its customers.

He said the situation is better appreciated when viewed against the fact that entrepreneurs in Kwara State were previously served by BOI Offices in Abuja, Akure and until last week, Osogbo. Olagunju said “BoI has recorded a total loan approval of N11.6 billion to 66 projects, including large enterprises (LE) as well as Medium, Small and Micro Enterprises (MSMEs) in Kwara State “Of the figures, about N365,254,402.61 is in respect of 42 MSMEs under the Matching Fund Scheme. In terms of developmental impact, more than 5,018 direct and indirect jobs have been created. “Some of the enterprises BOI has assisted here include: Kam Industries Nigeria Limited, Lubcon Limited, Tranquil Mazab, Gbose Quarries Limited, Wahan Foods Limited, Foodpro Limited, Mount Olive Nigeria Limited and Biomedical Limited”. He however appreciated the efforts of Governor Abdulfatah Ahmed for his support in setting up the bank office.

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