By Blessing Fali
The Bank of Industry, BOI, has praised President Bola Tinubu for his leadership and support following the successful oversubscription of its N250 billion Series 1 Fixed Rate Bond within five working days.
The bond, issued through BOI Financing SPV Plc under the bank’s $1 billion Multi-Currency Instruments Programme, attracted strong demand from institutional investors, which BOI described as a vote of confidence in the bank and Nigeria’s domestic capital market.
BOI Managing Director and Chief Executive Officer, Olasupo Olusi, said the strong investor response demonstrated the capacity of Nigeria’s domestic market to mobilise long-term capital for productive investment.
The bank also disclosed that a separate N100 billion fund approved by President Tinubu would be used to support the bond’s pricing and cushion the impact of high interest rates on manufacturers and other BOI customers.
The development is being seen as a significant boost for long-term financing and industrial investment in Nigeria.
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