[REVISION HISTORY]

Bank of Industry N250bn bond issuance

Updated 1 time since CLSTR started tracking revisions of this situation.

What changed

2026-08-18 18:52 UTC → 2026-08-28 11:34 UTC · added ~~removed~~

The Bank of Industry (BOI) ~~announced that its maiden~~ successfully raised N250 billion through its inaugural domestic Series 1 Fixed Rate ~~Bond~~ Bond, which was oversubscribed within five working days. ~~The bond was issued~~ Issued via BOI Financing SPV Plc as part of a $1 billion Multi-Currency Instruments ~~Programme. Institutional investors,~~ Programme, the bond attracted institutional investors including banks, corporates, and Pension Fund Administrators, ~~participated in the offer,~~ with the Nigeria Sovereign Investment Authority (NSIA) and the International Finance Corporation (IFC) acting as ~~institutional~~ anchors. BOI Managing Director and CEO Olasupo Olusi ~~stated~~ noted that the rapid response ~~demonstrates~~ reflects confidence in the bank and the capacity of Nigeria’s domestic capital market to mobilize long-term capital. The ~~funds~~ issuance is viewed as a strategic move to reduce reliance on foreign-denominated loans and government grants, thereby mitigating exchange rate risks linked to Naira volatility. Proceeds are intended to finance industrial expansion, job creation, and domestic value chains. ~~Olusi credited~~ To support these goals, President Bola Tinubu ~~for approving~~ approved investor incentives and a N100 billion fund ~~that will be used~~ to blend bond pricing, ~~helping to mitigate~~ aimed at mitigating high interest rates for manufacturers and other customers. Additionally, the North-West Development Commission (NWDC) has entered discussions with the BOI to explore structured financing for Micro, Small and Medium Enterprises (MSMEs) and industrial sectors across seven North-West states.

Versions

Only revisions since CLSTR began indexing content versions appear here. Select a version to see what changed compared to the one before it.