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Home Business News

BOI denies running a loan empowerment scheme

Chike Olisah by Chike Olisah
April 21, 2020
in Business News, Company News, Politics
Bank of Industry seals landmark $1 billion syndicated term loan, Female entrepreneurs get N26 billion BOI loans , BOI donates N700 million to aid fight against coronavirus, BOI denies running a loan empowerment scheme

Managing Director, BoI, Mr. Olukayode Pitan

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The Bank of Industry (BOI) has dissociated the organization from several online publications, mostly on social media, claiming that it is running a program called “Bank of Industry Loan Empowerment for Entrepreneurs.”

This was disclosed by the Bank of Industry through posts on its Twitter handle and its Instagram page on Tuesday, April 21, 2020.

The BOI, in an important public notice to its customers, said:

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“Our attention has been drawn to several online publications mostly on social media claiming that Bank of Industry is running a program called ‘Bank of Industry Loan Empowerment for Entrepreneurs.’ 

“We wish to draw the attention of all concerned that no such program exists. Please do not fall victim to this scam.”  

Tweets by BOINigeria

Due to the economic crisis, several Federal Government institutions like the Central Bank of Nigeria (CBN) and the Federal Ministry of Finance, Budget and National Planning have been announcing stimulus packages for businesses and households.

(READ MORE: BOI donates N700 million to aid fight against coronavirus)

Fraudsters seem to be taking advantage of this as they have, in a bid to deceive the unsuspecting public, been sending these scam messages about an empowerment program from the Bank of Industry.

It can be recalled that about 2 weeks ago, CBN issued a fraud alert to the general public about the activities of cyber-criminals, who are taking advantage of the coronavirus outbreak to defraud innocent citizens by stealing sensitive information, or gaining unauthorized access to computers or mobile devices through different techniques.


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Tags: COVID-19 relief effortsloan empowerment schemeNigerian Business NewsThe Bank of Industry
Chike Olisah

Chike Olisah

Chike was a banker with over 11 years experience in retail and commercial banking, risk management, treasury portfolio management and relationship management. He also acquired some experience in financial management and do have some special interest in investment analysis and personal finance. He had stints with financial institutions like the former Intercontinental Bank and Fidelity Bank.

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