CBN-BOI Industrial Facility (CBIF)
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Intro
The Central Bank of Nigeria in January 2018 established the CBN-BOI Industrial Facility to address the financing needs of the industrial sector of the country. The sum of ₦50 billion was approved to the Bank of Industry Limited (BOI) under the scheme.
Objectives-
- The objectives of the Facility include:
- To improve access to concessionary finance to expand and diversify the industrial sector.
- .Attract new investments to the industrial sector and encourage reinvestments in value-added projects
- Shore up industrial sector productivity and create more jobs
- Support companies to upscale and expand their industrial operations
- Broaden the scope of financing opportunities available to the industrial sector
How to Apply:- All loan requests are to be submitted to the Bank of Industry (BOI) for appraisal and review.
FAQs
| Questions | Answers |
|---|---|
| How can I apply? | You apply only through the Bank of Industry (BOI) |
| What is the interest rate? | The facility shall be granted at an “all-in” interest rate of 5% to be reversed to 9% in March 1, 2022 |
| What is the maximum amount one can apply? | N2 Billion |
| Does it support Working Capital? | Yes, 1 year with 2 years option to roll over |
| Is there provision for moratorium? | Yes, not more than 2years |
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