Don’t grant loans based on recommendations, A’Ibom gov urges BOI

The Governor of Akwa Ibom State, Umo Eno, has charged the management of the Bank of Industry to approve loans based on who meets the criteria and not on recommendations from top government functionaries.

He assured the management that he would not put unnecessary pressure on the managing director and his team in the state.

Eno stated this in Uyo, the state capital while inaugurating the new BOI Office complex in the state on Tuesday, adding that he would not recommend anyone for loan disbursement.

The governor said, “Let me assure you, the MD and your management team that I will not bring pressure to your office, and please do not take recommendations from people from any quarter that do not meet your criteria, because the money that I am going to give today is Akwa Ibom investment.

“You know that the grant we are giving you, you will refund our money, so please, I am telling you upfront, don’t give loan to anybody that does not meet your criteria. That is the truth I want to say and I am saying it upfront. I will not recommend anyone to you and don’t listen to anyone.

“In the state today, I am the governor, so if I tell you that I will not put pressure on you, no one should put pressure on you. Make sure you assess the people who meet your needs, but spread them across the 31 local governments of the state.”

The governor expressed delight over the advent of BOI in the state, adding that the establishment of the bank is a bold move towards realising the lofty goals of the second and fourth aspirations of the ARISE Agenda, which include job creation, economic prosperity and promotion of the spirit of industry and entrepreneurship, as well as sustainable economic growth among Akwa Ibom people.

Earlier, the Managing Director and Chief Executive Officer of BOI, Dr. Olasupo Olusi, lauded Eno’s commitment to promoting entrepreneurship in the state.

He said such commitment was obvious in the governor’s expressions at the 28th United Nations Climate Change Conference, COP28, at the United Arab Emirate held in December 2023, where the bank was compelled to bring its operations closer to Akwa Ibom people by establishing its 32nd Nigeria branch in the state.

Olusi maintained that BOI was delighted to partner with Akwa Ibom State Government in its operations and assured of support to small, medium and large-scale enterprises with facilities that cannot be obtainable in the regular commercial banking system.

He said, “Our mandate to create development impact is in harmony with the economic blueprints of the Akwa Ibom State governor, to transform the social, economic landscapes of Akwa Ibom through sustainable economic growth and job creation and also in furtherance of President Bola Tinubu’s Renewed Hope Agenda.

“In recognition of this, BOI is poised to support private investment that will bring about transformation in agriculture, Oil and Gas, aviation as well as in tourism and hospitality industries.”