The Bank of Industry (BOI) has introduced a new digital platform, MyBOI, aimed at making it easier for businesses to access financing, reducing barriers to credit and speeding up the processing of loan applications.
The bank disclosed this in a statement issued by its Divisional Head of Public Relations, Theodora Amechi, who said the platform became operational at noon on Friday, October 2, 2026.
MyBOI allows existing and prospective BOI customers to access the bank’s conventional lending products as well as its Non-Interest Banking facilities through web and mobile platforms.
The digital service enables users to create accounts, complete the required onboarding and assessment processes, apply for financing, upload supporting documents, and monitor the progress of their applications without having to rely solely on physical visits to BOI offices.
Speaking ahead of the platform’s rollout, BOI Managing Director and Chief Executive Officer, Dr Olasupo Olusi, said MyBOI represented a broader transformation in the way businesses engage with the development finance institution.
Olusi explained that the platform was designed to eliminate unnecessary delays and make the financing process more convenient for businesses.
He said reducing the time and effort required to access funding would enable businesses to obtain financial support when it was most needed, while also improving customer experience and the bank’s overall development impact.
According to BOI, MyBOI has been developed largely as a self-service solution, allowing customers to complete significant portions of the financing process remotely.
The bank said users can access Frequently Asked Questions (FAQs) and User Manuals on the platform to assist them in navigating the application process.
However, BOI cautioned that the speed at which applications are processed would depend on applicants providing complete and accurate information and documentation, as well as meeting the relevant eligibility conditions.
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It therefore advised prospective borrowers to ensure that all information and supporting documents submitted through the platform are accurate and complete to prevent avoidable delays.
The bank also warned customers to use only verified BOI channels when accessing MyBOI. These include the official BOI website and the authorised MyBOI application available through the Google Play Store and Apple App Store.
BOI urged users to avoid clicking on links from unverified sources and warned them not to share passwords, One-Time Passwords (OTPs) or other login details with third parties.
Customers who need additional assistance after reviewing the FAQs and User Manuals can contact BOI through its recognised customer service channels.
The bank also said Customer Support Desks had been made available at its state offices nationwide to assist customers who require further guidance or face-to-face support.
BOI clarified that customers who submitted financing applications before the introduction of MyBOI should continue using the process under which their applications were originally submitted. Such customers, it said, should not submit fresh applications through the new platform.
To ensure a smooth transition following the launch, the bank said it had put in place a post-GoLive Hyper-care arrangement and established a MyBOI Situation Room.
The monitoring structure will focus on the performance of the platform, cybersecurity, customer experience and the movement of applications, while also coordinating the resolution of any challenges that emerge after the rollout.
The launch forms part of BOI’s broader digital transformation efforts aimed at improving access to development finance and making its services more efficient and responsive to the needs of Nigerian businesses.
BOI is Nigeria’s development finance institution, with a mandate to provide financial and business support to enterprises across the industrial sector.
Its interventions are designed to assist businesses with establishment, expansion, diversification, modernisation and rehabilitation, with emphasis on areas such as import substitution, employment generation, poverty reduction and economic diversification.
