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FG to boost Bank of Industry’s capital base to N45bn

By on February 28, 2013

The Federal Government is making arrangements to boost the capital base of the Bank of Industry to N45 billion, according to the Managing Director of the bank, Dr Mohammed Santuraki.

Santuraki disclosed in an interview with newsmen in Sokoto on Wednesday, shortly after he paid a courtesy call on the Sultan of Sokoto, Alhaji Sa’ad Abubakar III.

“The bank’s current capital base is currently N30 billion and the gesture is aimed at shoring up the capital base to N45 billion to make the bank stronger and more efficient. This is in line with the Federal Government‘s Agricultural Transformation Agenda of President Goodluck Jonathan.”

Santuraki also said that the bank had in the last 10 years distributed N43 billion as loan facilities to farmers across the nation.

 

 

[ Daily Times]