Bank of Industry disburses N2.4bn to SMEs in Osun

The Bank of Industry has disbursed N2.4 billion to the Small and Medium-size Enterprises in Osun to enhance businesses and facilitate the growth of the economy of the state.

The managing director of the BOI, Mr Rasheed Olaoluwa, disclosed this during the official commissioning of a branch of the bank in Osogbo, Osun State capital.

He said the bank has put mechanism in place to provide working capital for the SMEs and assured that more funds would be provided for the benefit of more business owners in the state.

The MD also said BOI had partnered with 10 banks to attract working capital for the SME’s to make their operations easier.
Speaking on the occasion, Osun State governor, Rauf Aregbesola, charged federal and state governments to direct effort towards developing local industries to reduce the nation’s import bills and enhance growth of local ones.