Investor Presentaiton
CONFIDENTIAL
2
Trusted Partner with Consistent and Strong Shareholder Support
BANK OF INDUSTRY
...transforming Nigeria's industrial sector
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Bank of Industry's main shareholders are *Ministry of Finance Incorporated (MoFI) and the Central Bank of Nigeria (CBN) with 50.44% and 49.56% 1
respective shareholdings.
BOI receives strong support from both shareholders (MoF and CBN), including direct equity contributions, provision of guarantees and facilitation of
government and parliamentary approvals.
Examples of Shareholder Support Demonstrated
The Bank's Board of Directors comprises of 3 non-Executive Directors representing:
Ministry of Finance Incorporated;
CBN; and
Federal Ministry of Industry, Trade & Investment (FMITI) as well as an Executive
Director appointed to BOI by the CBN.
Anchored by the MOFI, BOI was allocated #100bn, initially contributed via debt as
direct intervention fund for the textile sector, before being subsequently
converted to equity in 2013.
Between 2010 and 2011, CBN invested #535bn in a zero coupon debenture
instrument, managed solely by BOI, as part of its intervention programs in the
Nigeria economy to support the power and aviation sector, as well as to
refinance and restructure facilities to the SME sub-sectors.
The CBN has supported BOI to secure foreign currency loans in the past, providing
a guarantee to the lenders of the US$750mn Medium Term Facility in 2018 (which
has since been repaid); the €1bn CBN Guaranteed Facility and US$1bn CBN
Guaranteed Facility, in 2020 and the €1bn CBN Guaranteed Facility in 2022.
FGN provided sovereign guarantees for BOI to access USD 100Mn term loan from
AfDB and our recently concluded EUR 750Mn maiden Eurobond
CBN also entered into a foreign currency swap (FX-swap) with BOI concerning the
above listed loans.
24 | Private & Confidential *MOFI is the investment vehicle of the Federal Ministry of Finance
Trusted Partner to Nigerian, African and Global Institutions
FEDERAL GOVERNMENT OF
NIGERIA
IsDB
البنك الإسلامي للتنمية
Islamic Development Bank
○ AFD
AGENCE FRANÇAISE
DE DÉVELOPPEMENT
WORLD BANK GROUP
IFC
LOPMENT FUN
Implementing Partner for the facilitation of the disbursement of Federal Government's
#75bn MSME Survival Fund to support businesses and households that were significantly
affected by the COVID-19 pandemic - N 58.33bn disbursed to 872,184 beneficiaries.
Signed a Custodian Fund Agreement with the Nigerian Export Promotion Council
(NEPC), as the implementing partner of its #50bn Export Expansion Facility Fund.
The fund aims to provide financial support to organisations in the non-oil export value
chain, particularly those adversely impacted by the pandemic.
Local executing agency of the Islamic Development Bank's (IsDB) Business Resilience
for Value Adding Enterprises (BRAVE) program, aimed at supporting women-owned
businesses in economically disadvantaged regions.
We have begun the capacity-building phase with 550 women entrepreneurs across the
three pilot states - Edo, Kano and Gombe.
The French Development Agency (AFD) € 100mn line of credit under its Transforming
Financial Systems for Climate (TFSC) programme. A blended finance initiative with the
Green Climate Fund.
Appointed as the local executing partner of the World Bank's US$ 750mn COVID-19
Action Recovery and Economic Stimulus (CARES) intervention project.
IFC has on-boarded BOI as an SOE. Hence, eligible to access financing and capacity-
building opportunities. Discussions are ongoing for a $150m bilateral line of credit.
Appointed the executing agency of the US$ 617mn Investment in Digital and Creative
Enterprise (i-DICE) programme, a collaboration between the AfDB, ISDB, AFD and the
Nigerian Federal Government.
The programme aims to boost innovation, create jobs, encourage entrepreneurship,
enhance social development, and achieve economic transformation by fostering
growth among Nigerian MSMEs in the Technology and Creative Sector segments.
Currently collaborating with AfDB and other partners on the Special Agro-industrial
Processing Zones Program. The partners are expected to mobilize $520 million for Phase
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