Bank of Industry

Bank of Industry Limited
Company type	Government Owned Corporation
Industry	Financial Services
Predecessor	Investment Company of Nigeria (ICON) Limited; Nigerian Bank for Commerce and Industry (NBCI); Nigerian Industrial Development Bank (NIDB) Limited
Founded	1959
Headquarters	23 Marina Street; P.M.B 12855; Lagos Island, Lagos; Lagos State; Nigeria
Key people	Olukayode Pitan, (Managing Director) ; Aliyu Abdulrahman Dikko, (Chairman)
Products	Term Loans; Working Capital Loans; Insurance Products; Trustee Services; Leasing Services; Savings
Net income	₦14.57 billion (2016)
Total assets	₦682.97 billion (2016)
Number of employees	335 (2016)
Subsidiaries	BOI Investment Trust Company (BOI-ITC); BOI-Microfinance Bank Limited (BOI-MFB); BOI Insurance Brokers (BOI-IB) Limited; LECON Financial Services
Rating	National Long Term Rating; Moody's: Aa3(11/2017); Fitch: AA+ (2017); Agusto & Co.: Aa (2017)
Website	Bank of Industry

Bank of Industry Limited (abbreviated as 'BOI') is the oldest Development Finance Institution (DFI) currently operating in Nigeria. It is owned and managed by the Ministry of Finance.^[5]

History change

Bank of Industry Limited began it operations in 1959 as the Investment Corporation of Nigeria (ICON) Limited. Later, ICON Limited was reconstituted change to Nigerian Industrial Development Bank (NIDB) Limited under the directives of the World Bank.

Branches change

The Bank of Industry has a numerous branches network across Nigeria with 24 branches, a headquarters in Lagos State, Nigeria and a corporate office in Abuja. The branches are:

Abia State
Abuja, Federal Capital Territory
Taraba State
Rivers State
Sokoto State
Osun State
Oyo State
Ogun State
Ondo State
Niger State
Benue State
Borno State
Cross River State
Delta State

|

Enugu State
Gombe State
Kaduna State
Kano State
Katsina State
Kebbi State
Kwara State
Lagos State

References change

↑ ^1.0 ^1.1 ^1.2 Bank of Industry Annual Report & Accounts 2016^{[permanent dead link]}
↑ "Moody's downgrades eight Nigerian banks following downgrade of Nigeria's government bond rating". 10 November 2017.
↑ https://www.fitchratings.com/site/pr/1019022
↑ ":: Agusto & Co. Limited". Archived from the original on 2018-09-18. Retrieved 2021-10-10.
↑ "Nigeria's Bank of Industry Plans $883 Million Eurobond Sale". Bloomberg.com. 2021-08-16. Retrieved 2021-10-10.

[AR2016-1] 1.0 ^1.1 ^1.2 Bank of Industry Annual Report & Accounts 2016^{[permanent dead link]}

[Moodys2017-2] "Moody's downgrades eight Nigerian banks following downgrade of Nigeria's government bond rating". 10 November 2017.

[Fitch2017-3] ttps://www.fitchratings.com/site/pr/1019022

[Agusto2017-4] ":: Agusto & Co. Limited". Archived from the original on 2018-09-18. Retrieved 2021-10-10.

[5] "Nigeria's Bank of Industry Plans $883 Million Eurobond Sale". Bloomberg.com. 2021-08-16. Retrieved 2021-10-10.

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