The Bank of Industry (BOI) has achieved significant global recognition within the first half of 2026. For the bank, 2026 is rolling out as a year of operational excellence and sustainable impact. The institution was recently honoured as “Sustainable Bank of the Year” at the 20th edition of the African Banker Awards 2026, held in Brazzaville, Congo.
BOI was also awarded as the “Best Bank in Sustainable Finance (Nigeria)” by the Global Finance Magazine. These recognitions represent the institution’s continuous adoption of financing models that prioritise environmental responsibility, social inclusion, and long-term economic resilience.
The Bank of Industry is Nigeria’s oldest, largest, and most successful development finance institution (DFI). BOI was originally incorporated in 1959 as the Investment Company of Nigeria (ICON). It was later transformed into the Nigerian Industrial Development Bank in 1964 before becoming the Bank of Industry in 2001.
BOI’s mission is to enable the transformation of Nigeria’s industrial sector. To achieve this, the bank provides financial and advisory support for the establishment, expansion, modernisation, and rehabilitation of large, medium, and small enterprises.
The bank’s vision is to be Africa’s leading development finance institution operating under global best practices. BOI remains a cornerstone of the Federal Government’s economic strategy. It supports vital sectors such as agro-processing, renewable energy, technology, and the creative industries.
The recent international achievements are a direct result of the strategic vision led by the Managing Director and Chief Executive Officer, Dr. Olasupo Olusi. Since his appointment in October 2023, the ambitious CEO has been instrumental in embedding sustainability at the core of the bank’s operations.
Directed by Dr Olusi, the institution successfully implemented a comprehensive sustainability financing framework. This framework has been independently validated by international rating agencies. His proactive approach to governance has ensured that the bank’s capital deployment now mirrors global standards. This has empowered the institution with the ability to compete and win against some of the continent’s most established financial entities.
A primary pillar of the bank’s progress in 2026 has been its dedication to the circular economy. The institution’s “Paper Decluttering Initiative,” implemented across 34 locations nationwide, has reduced paper usage by up to 65%, significantly minimizing operational waste. This initiative demonstrates the bank’s commitment to walking the talk regarding climate resilience.
Furthermore, the Managing Director has overseen the rollout of the Guaranteed Loans for Women (GLOW) programme. The focus is on gender-inclusive economic growth by empowering female entrepreneurs. The initiative has also become a benchmark for development finance across Africa.
Beyond internal operational shifts, the Managing Director has been pivotal in forging high-level global partnerships. In May 2026, Dr. Olasupo Olusi represented the institution at the Africa CEO Forum. He participated actively at the forum, which involved critical discussions on development financing.
Other global leaders were in attendance, including President Bola Ahmed Tinubu and representatives from the International Finance Corporation (IFC). These engagements have already yielded tangible results, such as the strategic agreement to assess the development of a major conference and exhibition hub in Abuja. A move that presents Nigeria as a destination for international trade.
As the institution moves through the remainder of 2026, it remains focused on its six thematic pillars: MSME Financing, Infrastructure Growth, Gender & Women, Youth & Skills, Climate Resilience, and Digital Transformation.
Through the disciplined execution of its 2025–2027 corporate strategy, BOI is set to continue its trajectory as the powerhouse of Nigeria’s industrial growth. Under the steady guidance of Dr. Olasupo Olusi, the bank remains committed to enriching lives and ensuring that its financing activities foster a sustainable, prosperous future for every Nigerian.
Samuel Agboola is a member of the editorial team of TheScript Newspapers
