The Bank of Industry (BoI) said it has initiated moves with the Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) and the Nigeria Export and Import Bank (NEXIM) to simplify loans to small and medium enterprises (SMEs) in the country by de-risking its loan portfolios to small businesses.
Managing Director, BoI, Olukayode Pitan, disclosed this, in Abuja, at a meeting with officials of the Secretariat of the Presidential Enabling Business Environment Council (PEBEC). He said the bank is working closely with the agencies to embark on SMEs’ rating and how to ensure easier credit lending to those that meet risk-acceptance criteria for loan access.
Pitan said the bank is taking steps to ascertain the credit behaviour of small and medium enterprises aimed at ensuring their easier access to credits.
“We are working with SMEDAN and NEXIM together to have a credit…
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