BOI records N50b profit in 13 years – Acting DG

The Bank of Industry has announced that it recorded an average profit of N50 billion in 13 years since its inception.
The Acting Director-General, Waheed Olagunju, announced this in an interview with the News Agency of Nigeria in Lagos.
Olagunju said the profit was made in spite of the prevailing economic challenges since its establishment in 2003.
He urged other institutions to look inwards to see how they could weather the storm and generate revenue for their organisations.
He said: “In 2013, we had N2 billion.
“In 2014, we moved up to N6 billion.
“In 2015, completing profit for everything.
“If you add the exceptional income from the sale of average shares, which is N37 billion, that is about N50 billion.
“So if we can do this in BOI, it can be replicated in Nigeria, in other institutions.
“We are not infallible.
“We are human beings.
“We make mistakes, but we don’t make one mistake two, three times.
“We learn from each mistake and move forward.
“So we are saying that in this assignment, please help us.
“Under our five-year strategy plan, we want to expand our risk assets in SMEs.”
NAN.