The Presidency has attributed the rapid oversubscription of the Bank of Industry’s (BOI) N250 billion Series 1 Fixed Rate Bond to growing investor confidence in Nigeria’s domestic economy and the supportive policies of President Bola Ahmed Tinubu.
The bond was oversubscribed within five working days, with BOI Managing Director and Chief Executive Officer Olasupo Olusi describing the strong investor response as a vote of confidence in the bank and Nigeria’s capacity to mobilise long-term capital for productive investment.
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.
