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Get to know Bank of Industry Limited

The Bank of Industry Limited (BOI) is a Nigerian development finance institution established to power the industrial development process of Nigeria. Reconstructed in 2001 from the Nigerian Industrial Development Bank (NIDB), its core mandate is to provide long-term financing and business support services to small, medium, and large enterprises across various sectors of the Nigerian economy. The bank is primarily owned by the Ministry of Finance Incorporated (MOFI) and the Central Bank of Nigeria (CBN), and it plays a crucial role in implementing the government's industrialization policies by funding projects with high development impact.

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Bank of Industry Limited

Nigeria

Founded in

1964 (62 Years)

Founded

Last online: No recent activity

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BridgerPay

(180 reviews)

Cyprus

2017

(9 years)

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A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.