‘BoI invested N1 trillion in economy’

The Acting Managing Director of the Bank of Industry (BoI), Mr. Waheed Olagunju has disclosed that the bank invested N1 trillion in the economy in the past 16 years.

The BoI chief, who appeared before the ad-hoc committee of the House of Representatives probing the activities of development finance institutions (DFIs) also revealed that out of the N4 billion approved for micro finance banks, his outfit had been able to disburse the N3.1 billion as at January this year.

Expressing support for the proposed Development Bank of Nigeria (DBN), Olagunju said plans were afoot to embark on a solar project supported by the United Nations Development Programme (UNDP) in each of the 36 states of the federation.

Olagunju said $100 million pilot project had already commenced in six states within the six geo-political zones of the country.