The Bank of Industry Has Been Faulted For Its Inability To Track SME Loans

ABUJA, Nigeria– The Bank of Industry (BOI) leadership was chastised by the Senate yesterday, Wednesday, for its inability to identify the whereabouts of loans disbursed to beneficiaries of government credit facilities under the Small And Medium Enterprises (SMEs) support program. Members of the Senate Committee on Trade and Investment took turns questioning the BOI’s Managing Director, Olukayode Pitan, who claimed that the bank was unaware of the loan recipients. The BOI’s Managing Director went before the Committee on Industry for an interactive discussion on the 2021 budget. Pitan stated during his budget defense that the loans are secured by bank […]