BoI Digitises Credit Process, Cuts Funding Delays for Businesses

The Bank of Industry (BoI) has unveiled a fully digital lending portal, MyBOI, to cut barriers to credit and make financing more accessible to Nigerian businesses. The end-to-end lending portal seeks to simplify the credit process for Nigerian enterprises, shorten the path to credit and expand access for productive activity. Managing Director and Chief Executive of BoI, Dr. Olasupo Olusi, said access to finance should not be measured only by the amount of money available to businesses but also by how efficiently they can navigate the process of obtaining it. The bank said it expects a 30 per cent rise in credit applications with the new portal.

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