Functions Of Nigeria Bank Of Industry

1. It Finances Plant And Equipment
The Bank of Industry main objective is to promote industrial sector of the economy, in doing so, it is targeted at financing plants and equipment only.

Financing raw materials and working capital of businesses are not in its financing preferences, lest alone financing lands and buildings.

2. It Disburses Funds To The Suppliers Of Equipment
Another function of the Bank of Industry is that, in line with the equipment businesses require to carry out its production, the Nigeria Bank of industry would disburse funds to the manufacturers or the suppliers of these equipment so as to supply businesses these equipment.


3. It Helps Businesses Source For Working Capital Requirements
One of the functions of the Bank of industry is that, it do assist businesses in sourcing for their working Capital requirements, and this is done through organizations who partners with the Bank of industry.


4. Provides Business Support
The Nigeria Bank of industry is saddled with the responsibility of financing equipment used in value chain production. This is true, but besides provision of funds,the Nigeria Bank of industry is ready to give businesses the necessary support they may desire.


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