About BOI
Who Are We?
Bank of Industry is Nigeria’s oldest, largest and most successful Development Finance Institution...

What is the role of Bank of Industry in Nigeria’s Industrial Sector?
Bank of Industry encourages local industrial production and value creation through manu...

What sectors do the bank target for support?
Being a key implementing institution of the Federal Government’s economic plans, the sectors supp...

What kinds of products & services does the bank provide?
The Bank of Industry provides both financial (loans) and non-financial (business advisory, mentor...

Who owns the Bank of Industry?
The Central Bank of Nigeria (CBN) and the Ministry of Finance Incorporated (MOFI) both own over 9...

How many states of the country does BOI have offices?
The Bank of Industry currently has offices in 24 states of the federation. The bank has presence ...

Are there specific areas that the bank does not finance?
Currently, the bank does not support infrastructure (roads, rails etc.), real estate development ...

How does the Bank of Industry differ from commercial banks?
The Bank of Industry is a Development Finance Institution, which is different from commercial ban...

What is the Bank of Industry’s Business operating hours?
The Bank of Industry is open from 8.00am to 5.00pm, every working day.

Popular in About BOI

What kinds of products & services does the bank provide?
How many states of the country does BOI have offices?
What sectors do the bank target for support?
What is the role of Bank of Industry in Nigeria’s Industrial Sector?
How does the Bank of Industry differ from commercial banks?
About BOI Financing
What type of financial support does the bank provide to its customers?
The bank provides working capital for raw material procurement and asset finance for the procurem...

Who is a typical customer of the bank?
The typical BOI customer is a registered business entity i.e. Micro, Small and Medium enterprise ...

Does the Bank of Industry support start-up businesses?
Yes, the Bank of Industry supports start-up businesses.

What type of support does the bank provide to start-ups?
The bank provides support for both existing and start-up businesses by way of Equipment financing...

Does the Bank of Industry support youths?
Yes, the bank supports youth-owned enterprises. What type of support does the bank provide to yo...

Does the bank support women-owned businesses?
Yes, the bank supports women-owned businesses. It has a Gender desk that is responsible for provi...

I am a Nigerian running a business overseas, am I eligible to apply for financing for my business over there?
No. Businesses supported by the Bank of Industry must be domiciled in Nigeria.

Does BOI finance foreign companies in Nigeria?
Yes. The bank provides financial support to enterprises operating in Nigeria, irrespective of nat...

Popular in About BOI Financing

What type of support does the bank provide to start-ups?
Does the Bank of Industry support youths?
Does the Bank of Industry support start-up businesses?
What type of financial support does the bank provide to its customers?
I am a Nigerian running a business overseas, am I eligible to apply for financing for my business over there?
Products – Loans
How do I apply for a BOI loan?
Loans can be applied for either physically or online. For physical application, customers are adv...

Are there criteria my project must meet to be eligible for financing?
Yes there are criteria that must be met for a project to be eligible for financing. These include...

Is there a loan checklist to guide my application for a loan?
Yes, there is a checklist that can guide loan applicants. The list of requirements to apply for a...

Where do I submit my loan application?
All loan applications are submitted either at the various state offices closest to the customer (...

Does BOI have a loan threshold for enterprises?
Yes, the bank has a loan application threshold for enterprises. Micro-enterprises can apply fo...

What is the pricing on loans?
Interest rate for Term Loan: Maximum of 10% per annum Interest rate for structured Working C...

Are there any other payments asides interest rates?
Yes. Depending on the type of loan, you may be required to pay the following fees and charges; ...

What is the tenor of repayment / payback?
Term Loan:  3 – 10 years Working Capital:  2 years Moratorium 6 months – 1...

Does Bank of Industry loan require security?
Loan Amount Security Arrangement ≤ N10 million A combination of; Irrevocable Personal Gua...

Can I make use of Treasury Bills as an alternate form of security?
Yes. Under specific circumstances, the bank does accept Treasury Bills as an alternate form of se...

Does Bank of Industry finance imported machineries or equipment?
Yes, the Bank finances machineries or equipment imported from other countries; as well as locally...

How long does it take to process the loan?
It takes within 30 to 40 working days to process and obtain Management’s approval after submissio...

What is the loan application process?
The loan application process effectively begins when all required documents have been received...

Is it compulsory to process a loan in the State office where the business is located?
Yes. Your loan application would be handled by the state office responsible for the location of t...

What can delay my loan processing?
Loan processing can be delayed if the customer does not provide all the documents itemised in the...

Is the loan amount paid into my account?
No. The loan sum is paid into the account of the supplier. The customer never has access to the l...

How do I know that the loan amount has been paid into the suppliers account?
A message will be sent notifying customers that have been able to meet the pre-disbursement condi...

Is there a list of accredited valuers for the valuation of assets?
Yes. The list of accredited BOI accredited valuers can be accessed via the link – Download Accred...

Is there a list of approved auditors for the audit of company’s financial statements?
Yes. The list of BOI approved auditors can be accessed via the link – Download List of Acceptable...

Popular in Products – Loans

How do I apply for a BOI loan?
What is the loan application process?
Is there a loan checklist to guide my application for a loan?
Where do I submit my loan application?
Does BOI have a loan threshold for enterprises?
BOI Publications and Documents
How do I obtain background information on BOI?
All publications (annual reports and working papers) are available on the bank’s website.

How do I get information about MSMEs in Nigeria?
The primary source of information about MSMEs in Nigeria is the Nigerian Bureau of Statistics web...

Popular in BOI Publications and Documents

How do I get information about MSMEs in Nigeria?
How do I obtain background information on BOI?
Additional Information
Does Bank of Industry offer grant?
The Bank of Industry does not give grant but business loans.

Does the Bank of Industry finance Trading activities?
Yes, the bank has a partnership with Dangote Foundation to support trading in Made-In- Nigeria pr...

How can I contact the Bank of Industry?
You can contact us at Bank of Industry via our Customer Care dedicated line – 0700 CALL BOI (0700...

Where can I locate a Bank of Industry office in my State?
Bank of Industry has state offices to facilitate the processing of loan and easy access to the pr...

Is Bank of Industry active on social media?
Yes. Bank of Industry is on social media.  Please, (if you have not); kindly follow the Bank...

Popular in Additional Information

Where can I locate a Bank of Industry office in my State?
Does Bank of Industry offer grant?
Is Bank of Industry active on social media?
How can I contact the Bank of Industry?
Does the Bank of Industry finance Trading activities?

Bank of Industry, Nigeria.

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