Presidency has attributed the successful oversubscription of the Bank of Industry’s N250 billion Series 1 Fixed Rate Bond to growing investor confidence in Nigeria’s economy and the supportive policies of President Bola Tinubu.

The Special Adviser to the President on Information and Strategy, Bayo Onanuga, disclosed this in a statement yesterday, saying the bond was oversubscribed within five working days.

The bond was issued through BOI Financing SPV Plc under the bank’s $1 billion Multi-Currency Instruments Programme.

According to Onanuga, BOI Chief Executive Officer, Olasupo Olusi, credited President Tinubu’s leadership and support for the strong investor response, describing the development as a vote of confidence in both the bank and Nigeria’s domestic capital market.

Olusi said the investor response demonstrated the domestic market’s capacity to mobilise long-term capital for productive investment.

The BOI chief executive, according to Onanuga, also acknowledged the President’s executive approval of incentives designed to encourage investors, saying the intervention provided leverage and sent a positive signal to the investment community.