Bank of Industry Launches MyBOI Portal for Loan Applications

The Bank of Industry (BOI) has introduced the MyBOI Portal, which went live on a Friday, allowing Nigerian businesses to apply for financing facilities online. This new platform is designed to streamline access to BOI's financing options and enhance the application turnaround time.

Businesses registered with the Corporate Affairs Commission can apply for loans, provided they meet specific requirements, including having a valid Bank Verification Number (BVN) and a verifiable business bank account. Eligible sectors include manufacturing, agro-processing, digital economy, creative industries, and energy.

First-time applicants must register on the portal, providing a valid company registration number, email address, and other company details. After verification via an OTP sent to the registered email, new customers can begin the onboarding process, while existing customers can directly apply for facilities.

Required documentation typically includes CAC registration documents, identification, bank details, tax identification, and a business plan. Financing can be utilized for various purposes, including working capital and equipment financing.