The Bank of Industry (BoI) and the Nigeria Content Monitoring and Development Board (NCDMB) have signed a Memorandum of Understanding (MoU) on a $100 million Nigerian Content Intervention Fund (NCIF) equity investment scheme to support high-potential Nigerian companies.
The scheme will also complement traditional debt financing and strengthen access to the long-term risk capital required for scale, competitiveness, and value creation.
Olasupo Olusi, the managing director and chief executive officer (MD/CEO) of the bank, who spoke briefly at the ongoing Practical Nigeria Content (PNC) forum in Yenagoa, Bayelsa State, said the collaboration between the BoI and the board marks a significant expansion of their long-standing relationship.