New BOI MD assumes duty, promises to make institution more competitive

The newly appointed Managing Director and Chief Executive Officer of the Bank of Industry, Mr Rasheed Adejare Olaoluwa resumed duties at BOI's head office in Lagos. The former Acting Managing Director and CEO of the Bank of Industry, Mr Waheed Olagunju who handed over to the new CEO received him alongside other members of the Bank's Executive Management Committee.

Speaking at the brief ceremony , Mr Olaoluwa  said all hands must be on deck towards ensuring that BOI strengthens its  operations for  global competitiveness and be at par with some of the world's leading development finance institutions.  He stated that the task of increasing the contribution of the manufacturing sector to Nigeria's Gross Domestic Product cannot be undertaken by BOI alone. According to the new CEO of BOI, for the bank to effectively deliver on its mandate the institution would have to work closely with other relevant stakeholders towards addressing the non-financial issues facing the manufacturing sector and Micro Small and Medium Enterprises.

Mr. Olaoluwa  added that ''urgent steps would have to be taken to improve on BOI's service delivery to enable it meet the unemployment challenges facing the country especially in the areas of wealth and job creation.