Nigeria's Bank of Industry (BOI) has opened subscriptions for its inaugural Series 1 Fixed Rate Bond, raising up to N250 billion to finance industrial lending.
The issuance is part of a broader $1 billion multi-currency instruments programme designed to channel capital into the country's manufacturing and processing sectors.
BOI's move follows a recent agreement with the European Investment Bank (EIB) for a €60 million credit line.
The bond launch coincides with aggressive liquidity management measures by the Central Bank of Nigeria (CBN).
The CBN has scheduled a N600 billion ($370 million) Treasury bills auction for Tuesday, aiming to absorb excess liquidity from the banking system.
This dual approach highlights the central bank's strategy to tighten monetary conditions while supporting targeted industrial growth through development finance.
BOI's move follows a recent agreement with the European Investment Bank (EIB) for a €60 million credit line.