BOI boss Olasupo Olusi says the media remains Nigeria’s biggest development partner as the bank expands MSME funding initiatives
Managing Director and Chief Executive Officer of Bank of Industry, Olasupo Olusi, has described the media as Nigeria’s biggest development partner, stressing that effective communication remains vital to national growth and institutional impact.
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Olusi made the remark during an interactive session with media partners in Lagos on Wednesday, where he highlighted the critical role journalists play in promoting accountability, progress and national development.
“The media is the biggest agent of development anywhere,” Olusi said.
“Communicating what needs to be done and what has been done is critical in the journey of any development institution.”
During the engagement, the BOI chief unveiled major milestones under the bank’s ongoing transformation agenda aimed at strengthening support for Nigeria’s private sector and driving inclusive economic growth.
Olusi said he inherited a strong institution upon assuming office, describing the bank as a “Rolls-Royce” among development finance institutions in Africa.
He noted that the current leadership is repositioning the institution to deepen long-term financing and developmental impact across critical sectors.
According to him, BOI has established an Impact Fund financed through a portion of the bank’s annual profits to support strategic national investments.
He disclosed that the fund invested $15 million in the New Africa Medical Centre of Excellence in Abuja and committed ₦25 billion to the National Credit Guarantee Company to improve access to finance for Micro, Small and Medium Enterprises lacking collateral.
“The objective is to remove the long-standing barriers preventing small businesses from accessing finance,” he explained.
Olusi also announced plans to commence non-interest banking operations pending final approval from the Central Bank of Nigeria.
He said the initiative would provide broader and more inclusive financing options for Nigerians seeking non-interest financial products.
In a major youth empowerment push, the BOI boss revealed that the bank has established more than 20 youth and skills hubs nationwide.
The hubs focus on ICT, agro-processing, fashion, printing and entrepreneurship development, with the aim of equipping young Nigerians with practical business and innovation skills.
“These hubs are designed to help young Nigerians learn, innovate, package products, and eventually establish sustainable businesses,” he stated.
Olusi reaffirmed BOI’s commitment to driving economic transformation through impactful investments and strategic partnerships across Nigeria.
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“The opportunities for making a difference in Nigeria are enormous across all sectors and spheres of life,” he added.
