CBN-BOI Industrial Facility

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.
MANAGING AGENT: BOI
HOW TO APPLY: All loan requests are to be submitted to the Bank of Industry (BOI) for appraisal and review.

Frequently Asked Questions (FAQs)

Questions Answers
How can I apply? You apply only through the Bank of Industry (BOI).
What is the interest rate? 9%.
What is the maximum amount one can apply? ₦2 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 2 years.