On 17 August 2026, the Bank of Industry (BOI) announced the full oversubscription of its inaugural N250 bn Series 1 fixed‑rate bond. Issued through BOI Financing SPV Plc under the bank’s US$1 bn Multi‑Currency Instruments Programme, the bond closed after just five working days of trading, attracting a diverse pool of institutional investors.
Pension fund administrators, commercial banks, development finance institutions and corporates formed the core investor base, while significant anchor investments came from the Nigeria Sovereign Investment Authority (NSIA) and the International Finance Corporation (IFC). The robust demand underscores growing confidence in BOI and Nigeria’s domestic capital market.
In addition, President Bola Ahmed Tinubu granted specific incentives to stimulate investor participation, and an approved N100 bn fund allocation will be used to blend pricing on the bond. This mechanism is intended to offset prevailing high interest rates for commercial borrowers and manufacturers.
Proceeds from the issuance will be deployed to expand BOI’s long‑term financing capacity for businesses operating in priority sectors. The bank aims to support industrial expansion, strengthen local value chains, create jobs, and advance economic diversification.
