BOI Boss Gets Banking Award

The Chief Executive of Nigeria’s Bank of Industry, Mr Kayode Pitan, has received the Special African Banking Leadership Commendation Award from the 9th edition of the International Forum on African-Caribbean Leadership.

IFAL is an annual event of the African Leadership Magazine held on the sidelines of the 78th United Nations General Assembly in New York, United States of America with the theme, ‘African-Caribbean Cooperation and today’s geo-politics’.

A statement on Tuesday said the award was in recognition of Pitan’s contributions to the growth of Nigeria’s industrial sector.

It stated: “As the managing director and chief executive officer of the Bank of Industry, Nigeria’s oldest and largest development finance institution, Mr Pitan draws from significant experience gained across various financial services sectors, including banking and capital markets, during his over 30-year career in carrying out the mandate of the Bank.

“Under his leadership, the Bank of Industry has significantly transformed Nigeria’s industrial sector by providing affordable long-term financing and counter-cyclical loans diversified across various sectors of the Nigerian economy.

“In the last five years, he has pioneered several innovative transactions in the Nigerian capital market and the international financial market towards Nigeria’s economic development.”

It added: “To date, he has led the Bank of Industry to successfully raise about $5bn from the international market through syndications and the bond market over the last four years and the bank, under his leadership, has also consistently promoted financial inclusion by supporting the expansion of over three million enterprises, which created over seven million jobs for the Nigerian people.”