BoI Gives Customers 30 Days to Complete Loan Applications

By Dipo Olowookere

Customers who have approached the Bank of Industry (BoI) for loan application have been given one month to complete their documentations or risk being snubbed.

This, according to the bank, was necessitated by the present administration’s Ease of Doing Business mandate to remove critical bottlenecks and bureaucratic constraints to doing business in the country.

General Manager of BoI, Mr Joseph Babatunde, disclosed that this move will help businesses get fast and improved service delivery.

Speaking at the lender’s gender business group customers’ forum in Lagos, Mr Babatunde said, “We are advising our customers to make available all the required documents to evaluate their proposal between 30 days and if they do not meet with this deadline, we will return whatever they have given us until they meet up with the full documentations for loan application.”

He said further that, “As a development bank, the Key Performance Indicators (KPIs) is to see how many people we can create employment for using our different intervention funds.

“To us, this is very important and we want a situation where you can take advantage of most of the services we offer to improve on your operations to get more people employed.”

“We want feedbacks from you beginning from when you applied for the loan, we want to know what has been your experience even up to the point of your operations. We want you to share with us what lessons you have learnt to enable us deliver better services,” Mr Babatunde stated.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via

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