The Bank of Industry (BOI) has announced delays in releasing approved loans to applicants under its funding programs, attributing the hold-ups to temporary IT system challenges and pending directives from the Federal Government.
In a statement issued Thursday, the bank expressed regret over the delays and reassured applicants that corrective measures are underway to expedite the loan process.
“The delays originate from temporary computer problems and the need to wait for certain orders and recommendations from the Federal Government to ensure the loan process is seamless and reliable,” the statement read.
BOI confirmed that loan disbursements would resume once the system has been updated and the necessary approvals obtained.
“We deeply regret the delays and inconvenience caused, and we assure all stakeholders that every measure is being taken to resolve the issue as quickly as possible,” the bank added.
The institution thanked applicants for their patience and understanding, reaffirming its commitment to supporting entrepreneurs, marketers, and industrial development across Nigeria.
As Nigeria’s largest industrial bank, BOI plays a critical role in financing businesses, promoting industrial growth, and sustaining the national economy.
For inquiries, applicants can reach the bank via WhatsApp at 09060206541.
The Bank of Industry (BOI) apologizes for delays in loan disbursements due to temporary system issues and pending Federal Government approvals, assuring applicants that corrective measures are in progress.
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