BOI Opens MyBOI Portal for Business Loans and Non-Interest Financing

The Bank of Industry (BOI) has launched MyBOI, an online portal that lets Nigerian businesses apply for conventional loans and non-interest financing without visiting a physical office. The platform went live on Friday, October 2, 2026.

BOI says the portal is meant to simplify applications, improve customer experience and cut delays caused by manual paperwork. New and existing customers can register, complete assessments, submit applications and track progress online.

What Applicants Need

First-time users need a valid company registration number, such as an RC or BN number, a valid email address and necessary company information. They must also complete identity verification and know-your-customer (KYC) checks. That may require a Bank Verification Number (BVN), National Identification Number (NIN), identification documents and proof of address.

Applicants can access MyBOI through BOI's official website. They create an account, receive a one-time password (OTP) at their registered email address, verify it, and proceed. New customers must complete onboarding, including identity verification, KYC compliance and submission of relevant business information. The portal validates company name, registration number, BVN, NIN and bank account information.

Application Steps

Existing BOI customers who have completed onboarding can move directly to the financing application stages. All applicants must complete mandatory impact and sustainability assessments before submitting requests. These help BOI assess the proposed project's expected development impact and environmental, social and governance considerations.

After the assessments, applicants log in to their dashboard and select the option to apply for a facility. They provide the amount requested, purpose of financing, repayment period, proposed repayment source and other details required by the bank. They then upload documents through the portal's documentation section. Depending on the business and facility, documents may include company registration records, identification documents, financial statements, bank statements, business plans and collateral information. BOI provides a document checklist and application guidance.

After completing forms, uploading documents and making necessary declarations, applicants can submit review requests. They can monitor updates on their dashboard and respond to requests for additional information or corrections. BOI offers conventional and non-interest financing options. But submitting an application does not guarantee approval. Every request is subject to credit assessment and other eligibility requirements.

What It Means for Businesses

The portal could reduce the time and travel costs for small businesses seeking BOI facilities. It also makes the process more transparent, though approval still depends on credit assessment. Earlier, the Nigerian government announced plans to provide zero-interest loans of up to N100,000 to market women, small-scale traders and artisans through MarketMoni and TraderMoni. MarketMoni will offer interest-free loans to market women to grow working capital, restock inventory and expand businesses. Beneficiaries will get zero collateral, a 3-month moratorium before repayment, and nationwide coverage across all six geopolitical zones.