Bank of Industry disburses N780bn to real estate sector, others in 2014

Managing Director of the Bank of Industry(BOI), Rasheed Adejare Olaoluwa, has disclosed that the Bank has given intervention funds and loans worth N780 billion  to the nation’s real estate industry and other key sectors  as at the end of 2014.

According to the Leadership News, Olaoluwa while speaking at the annual conference of the Nigerian Institute of Estate Surveyors and Valuers in Osogbo, Osun State recently, explained that the bank has increased its intervention to critical sectors of the economy within the last five years; specifically, between 2010 and 2014.

“BOI has become impactful within the last five years and at least 1.8million jobs have created through such efforts.  Before 2009, the level of intervention was below N30 billion, but we have been able to improve access of customers to the funds as well as increase their capacity in the utilisation of such facilities. We are doing a lot of things to ensure that we can provide that comprehensive support to our small and medium enterprises,” he said.

Olaoluwa added that the bank is reviewing its regional status to state offices in order to be able to serve  customers better.