BOI N250bn Series 1 Bond Oversubscribed Within Five Days, Bank Hails Tinubu’s Leadership
Deji Elumoye in Abuja The Bank of Industry Limited (BOI) has hailed President Bola Tinubu for his leadership and support after its ₦250 billion Series 1 Fixed Rate Bond was
The Bank of Industry's (BOI) ₦250 billion Series 1 Fixed Rate Bond has been oversubscribed within five days, showcasing investors' confidence in the bank and Nigeria's domestic capital market, according to a statement released by President Bola Tinubu's spokesperson. The bond was issued through BOI Financing SPV Plc as part of the bank's $1 billion Multi-Currency Instruments Programme.
BOI CEO Olasupo Olusi credited President Tinubu's support, executive approval, and incentives for encouraging investors, which played a crucial role in the bond's oversubscription. The transaction aims to translate investor confidence into increased financing for Nigerian enterprises, facilitating job creation, a healthier economy, and industrial expansion.
The ₦100 billion fund approved by President Tinubu will help cushion the impact of high interest rates for manufacturers and other BOI customers.
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