BoI signs MoU with Ecobank on financial inclusion

BoI Ag. CEO, Waheed Olagunju

The Bank of Industry (BoI) and Ecobank Transnational Incorporated, have signed a memorandum of understanding on promoting financial inclusion.

The partnership between the two banks is a roll out of an Africa-wide financial inclusion programme, initiated by Ecobank, to address lack of inclusive growth on the continent, which has resulted in lingering poverty and unemployment Relying on BOI’s reputation as the best development finance institution in Nigeria, and seeing the country as an important market to execute the programme, Ecobank decided to partner with the Bank of Industry on the project in Nigeria.

During the signing ceremony at BOI’s headquarters in Lagos on Monday, the management of both banks said that they believe the initiative would give MSMEs in Nigeria and Africa some appreciable mileage.