Some members of the Senate Committee on Industry on Wednesday disagreed with the Managing Director/Chief Executive Officer of the Bank of Industry, Olukayode Pitan, over the choice of the bank’s loans beneficiaries across the country.
Pitan appeared before the committee to defend its 2021 budget. There was, however, a mild drama when the Managing Director of BOI claimed that the commercial banks determine the loan beneficiaries.
He explained that the loans were secured through guarantees provided by commercial banks on behalf of the beneficiaries. Not comfortable with the submission of Pitan, Senators Adamu Bulkachuwa,
Christopher Ekpenyong and Danjuma La’ah feigned ignorance of the activities of the bank in their senatorial districts. Danjuma said, “I don’t know what is going on concerning Bank of Industry activities in my senatorial district.” In his own reaction, Ekpenyong in noted that most of his constituents were finding it difficult to access loans from the bank.
He alleged that some commercial banks were not guaranteeing the loans requests of his constituents. Bulkachuwa on his part said, “The MD/CEO, you said you were not in the position to know exactly where these loans are going to, with regards to the geopolitical areas of the country.
