BOI disburses over N1bn loans to entrepreneurs  

BOI disburses over N1bn loans to entrepreneurs  

Business

BOI disburses over N1bn loans to entrepreneurs 

 

From Ismaila Muhammad, Dutse

 

The Bank of Industry (BOI) Limited, Kano and Jigawa Office has said that it has disbursed whopping sum of over N1 billion to small and medium scale industries in the two states within the first quarter of 2020, which indicated significant achievements.

This was disclosed by the Manger of the Bank in charge of Kano and Jigawa Branch, Dr. Dahiru Bala during an interview with The Triumph in his office.

“We secured approval with cumulative value of N2.4 billion from our corporate headquarters, out of which we disbursed over N1 billion  small and  medium enterprises to support them enhance their production capacity,’’ Bala further noted.

He said the bank has within the time under review, supported over 200 small and medium scale industries who can employ between 50 and 100 people, adding that they had supported small micro credit of over 500 of them with soft loans to boost their businesses during the first quarter of this year.

He said in Jigawa State, being an agrarian, they had a discussion with the Permanent Secretary of the state Ministry of Commerce and Cooperatives with a view to mapping out strategies on how  people of the state would benefit from the  facilities provided by the bank, adding that the discussions were fruitful.

Dr. Bala said they created awareness and even held a forum with owners of Aliyu Farms located at Birnin Kudu and owners of Hadejia Rice Company on how they would be assisted to boost production of their products.

“Based on this performance, it indicates that  we are up and  doing in supporting new and emerging businesses as well as old  customers.

“The bank is really adding value to the Nigerian economy through industries which generate employment through direct and indirect bases,’’ the Manager pointed out.

He stated that the bank was not established for profit generation, but it is interested in development impact of the nation’s economy as well as building enterprises so that they could pay taxes to the Federal Government.

Leave a Reply

Your email address will not be published. Required fields are marked *