DFI invests N1trn in the economy — MD

The acting Managing Director of Bank of Industry, BOI, Waheed Olagunju, yesterday, told the House of Representatives Ad-hoc Committee investigating the activities of Development Finance Banks, DFI, that the bank has invested N1 trillion in the Nigerian economy in the past 15 years.

This is as the Emeka Anohu-led committee said that DFI must impact positively on the economy.
Meantime, the BOI acting MD, Olagunju has informed the committee that the bank was on the verge of completing a  $100 billion solar power project facility from the African Development Bank, AfDB.
Fielding questions at the on-going investigation hearing in Abuja, yesterday, on the position of the management of BOI on the proposed Development Bank of Nigeria DBN, to be established by the Federal Government, Olagunju said based on the official explanation offered on the proposed bank, BoI was not opposed to it.
According to him, “BoI is not opposed to the proposed bank because the official explanation was that the DBN would source for funds and retail it to DFIs.”