Bank of Industry Disburses N700m To MSMEs In Taraba

The Bank of Industry (BoI) has disbursed N700 million for on-lending to entrepreneurs in Taraba State.
According to the bank, the funds, which were pulled together by the state government and BoI under its matching fund scheme following the execution of a Memorandum of Understanding for the establishment of a N700 million Micro, Small and Medium Enterprise Development Fund, will boost economic activities and curtail unemployment.
Managing Director BoI, Rasheed Olaoluwa, while speaking at the cheque presentation ceremony to beneficiaries under the scheme, said a large number of the loan applications were deficient in either documentation or by virtue of line of businesses not covered by the bank.

- Daily Trust