The Bank of Industry (BOI) and Ecobank Transnational Incorporated, have signed a memorandum of understanding on promoting financial inclusion in Nigeria.
The signing took place at BOI’s headquarters in Lagos on Monday as the management of both banks said that they believe the initiative would increase the awareness of MSMEs in Nigeria and Africa.
Ecobank partners with BOI due to the lender’s reputation as the best development finance institution in Nigeria and also seeing the country as an important market to execute the programme.
The partnership between the two banks is a roll out of an Africa-wide financial inclusion programme, initiated by Ecobank, to address lack of inclusive growth on the continent, which has resulted in lingering poverty and unemployment
