Bank of Industry Nigeria Recruitment 2020/2021: Get first-hand information about the much anticipated Bank of Industry mass recruitment exercise.
We have carefully put down this article to help you start and successfully complete the bank of industry application process.
We are going to show you the practical steps to apply for Bank of Industry Nigeria Recruitment through the official portal with out asking anyone to help you apply, because there won’t be any need for that.
Table of Contents
BANK OF INDUSTRY
The Bank of Industry, BOI remains the largest and the oldest Development Finance Institution (DFG) still operating in Nigeria. The bank is a jointly owned venture by the Central Bank of Nigeria (5.19%), private shareholders (0.01%), and the Ministry of Finance Incorporated (MOFI) Nigeria (94.80%).
Founded in 1959, the Bank of Industry is a government-owned corporation and is a parastatal under the Federal Ministry of Industry, Trade and Investment. It is charged with the responsibility of providing financial assistance for small, medium, and large projects establishment. It is responsible for modernizing, diversifying, and expanding in all ramifications existing small, medium and large businesses.
Also, the Bank of Industry focuses on key sector industrial financing which is in line with the Nigeria Industrial Revolution Plan and Economic Recovery and Growth Plan (ERGP). Among the sectors financed by the Bank of Industry are light manufacturing, creative industry, agro and food processing, solid minerals, gas and petrochemical, and engineering and technology.
With 11 members on its board, the Bank of Industry has four (4) major subsidiaries including BOI Investment Trust Company (BOI-ITC), BOI-Microfinance Bank Limited (BOI-MFD), BOI Insurance Brokers (BOI-IB) Limited, and LECON Financial Services. Among the products being provided by the Bank of Industry are savings, trustee services, term loans, working capital loans, and leasing services.
The Bank of Industry’s strength lies in its staff strength and its operational efficiency. So far, the Bank of Industry has financed numerous small, medium, and large businesses across the country. The Bank of Industry has equally started up a good number of youth empowerment initiatives including the notable Graduate Empowerment Fund (GEF). Also, the Bank of Industry has an estimated number of 335 employees.
What is the Primary Role of the Bank of Industry?
The primary role of the Bank of Industry is explicitly stated in its mandate. On this note, the Bank of Industry was incorporated with the mandate of providing financial assistance including loans and equipment procurement for the establishment of small, medium, and large enterprises. BOI is also mandated to expand, diversify, and modernize other existing enterprises and rehabilitate them where necessary.
Altogether, the Bank of Industry sets the Nigeria economic sector in the right direction by funding the sector through the provision of funds for startups, SMEs, and large enterprises. More interestingly, the Bank of the industry does not just provide the funds but also facilitates the entire process including the pre-loan application.
The Bank of Industry is reputed to be one of the best paying corporations in the banking sector but this isn’t surprising as the Bank of Industry boasts of a Net Income estimated at over N14.57 billion and assets estimated at 682.97 billion.
Altogether, the Bank of Industry employees averagely earn between…and…monthly.
What are the Branches of the Bank of Industry?
Like every other organization, the Bank of the Industry has about twenty-four (24) strong branches in several states across Nigeria. These states include;
Cross River State.
The Bank of Industry also has about four (4) subsidiaries including;
Bank of Industry Investment Trust Company.
Bank of Industry Microfinance Bank Limited.
Bank of Industry Insurance Brokers.
LECON Financial Services.
Also, the Bank of Industry has about three (3) Youth Empowerment Initiatives including;
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this articles was written by Ikechukwu Michael for youwin.org.ng, the writer is a University graduate, he holds a degree in Economics from the University of Nigerian Nsuka (UNN).
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