BOI Seeks Financial Bodies’ Support On Economic Growth

The Managing Director, Bank of Industry, Mr Olukayode Pitan, has called for support of other development financial bodies under the Association of Nigerian Development Finance Institutions to boost the pace of growth in the country.

Pitan who is also the chairman of the association said this during a meeting with chief executive officers of DFIs.

A statement on Monday titled ‘BOI MD seeks support of other Development Finance Institutions to boost economy’, said the association was inaugurated on October 15, 1982 with 15 foundational members.

It stated that it was created with the primary objective to create a forum for DFIs in Nigeria to discuss and exchange ideas on issues of common interests, while providing a platform for members to cooperate in areas of investment, finance and capacity building.

Pitan told members that time had come for the association to play its role in creating a conducive atmosphere for operations of the DFIs towards achieving a sustainable real sector development.

He said the existence of the Association of Nigeria Development Finance Institutions was key to the growth of Nigerian the economy.

The managing director said the meeting was to strategise on how the association would meet once or twice in a year, while assuring them of an office space in the Abuja Bank of Industry building.

The space, he said, could sit a minimum of six staff including the secretariat.

Pitan said the Central Bank of Nigeria had interest in ANDFI and wanted it to play a very active role in the continental association.

He noted that South Africa provided chairman for AADFI before handing over to Botswana, adding that East and North Africa had been very active, while West African has witnessed less representation.

This, he said, had made it imperative for Nigeria to play a vital role in ensuring good representation.