BoI, AADFI Hold Peer Review on DFIs


Senator Iroegbu in Abuja

The Bank of Industry (BoI) has concluded plans to host delegates from over 100 countries aimed at peer review of the performances as well as standard of Development Finance Institutions (DFIs) in Africa.

The Managing Director of BoI, Mr. Olukayode Pitan, disclosed this wdnesday in Abuja when the organisers of the event, Association of African Development Finance Institutions (AADFI) paid him a courtesy visit.

Pitan said that Nigeria had put necessary security and logistics arrangements in place to ensure successful hosting of the 2017 AADFI conference.

He said that hosting of the conference, especially this year that focuses on peer reviews of DFIs of over 100 countries would be of immense benefit to BoI and Nigeria.

He added: “There will be so many takeaways from the forthcoming conference like the peer review that the BoI will be doing with about 100 other countries.

“We will also use the opportunity to network with other DFIs , learn how to be creative with funds, learn best practices, collaborations and exchanges. It will create opportunities for further trade and commerce.”

Speaking further, Pitan stated that the BoI is one of the most successful DFIs in Nigeria.
“Our rating is AA+ and we take risks in Nigeria thatmost DFIs cannot take,” he said.

Earlier, the Secretary-General/Chief Mission, AADFI, Mr. Joseph Amihere, commended BoI’s plan to host the forum, which he noted was a prestigious event that requires enormous sacrifice.

Amihere noted that AADFI is owned by government of various countries with heavy participation of countries in Europe, US and other parts of the world.

According to him, the Institute is the only organisation in Africa with observer status in the World Bank.

He said that this year’s forum in Nigeria would be used for reviewing of the AADFI document aimed strengthening their mandate functions on Asset Loan Management and sound policy management of financial institutions.

To this end, he said the peer review was to “examine ratings of all the DFIs of all the countries and grade them”.