BoI unveils direct loan access for startups
As part of new efforts to drive self employments in Nigeria, the Bank of Industry (BoI) has launched a social intervention fund to help artisans, farmers, market women have access to funds to start up businesses in the country.
The new fund access plan is salutary to the federal government’s social intervention plan to help business men and women get access to loans to start and expand their businesses at no interest rate, is expected to help over 100,000 people to fund their daily household spend.
The acting Managing Director, BoI, Waheed Olagunju who was represented by the Group Head of Treasury, Taiye Emagha, at the ongoing Lagos International Trade Fair, BoI special day, said the scheme which has started across the 36 states of the federation, will go a long way to bring many Nigerians into the inclusive financial space.
“To access this loan, associations need to get registered with the BoI where they nominate credible beneficiaries to represent them,” he added.
Continuing, he said “At BoI we are focused on creating job opportunities and value addition. We will continue to develop innovative products and services to meet the growing demand of Nigerians with the aim of reducing unemployment and sustaining economic development.