Bank Of Industry (BOI) Salary Structure & Allowances

In this post we are quickly going to reveal how much the
Bank Of Industry which is pay their staff and also the allowances that BOI workers receive.

The Bank of Industry Limited is a financial institution that is headquartered in Lagos Nigeria. 

The bank is the oldest and largest Development Finance Institution in Nigeria. 

BOI is owned by the federal government of Nigeria and managed through the Ministry of Finance, the Central Bank of Nigeria (CBN) and private shareholders.

BOI was founded in 1959,with the aim of supporting and financing industrial projects that will boost the Nigerian economy. 

The bank sponsor projects such as Engineering and Technology,Solid Minerals,Arts and Entertainment,Agro and Food Processing,Light Manufacturing,Gas and 
Petrochemicals,Entrepreneurship,Renewable Energy and also promoting youth and women owned businesses in Nigeria. 

Read Also: Administrative Officer Salary Range Structure 

Bank Of Industry (BOI) Salary Structure & Allowances For Their Workers

Q: BOI Salary Structure & Allowances?

Most often companies do not reveal the salary structure/ remuneration of their staffs,this however has lead to estimation of what the company pay it's workers.

BOI entry level employees earn lower than other staffs,however the amount of money earned by the new employee is expected to increase with promotion and experience.
Bank Of Industry (BOI) workers are among the highest paid workers in Nigerian banking sector. 

The current estimated salary earned by entry level BOI graduate worker is about ₦ 250,000 - ₦ 300,000 per month (After Tax)* excluding allowances.


  • The information on this page is subject to change,figures stated here are only estimates and not 100% accurate.
  • The current minimum wage in Nigeria,applicable from 2011 is ₦18,000 per month,exclusive of all deductions,however there is a plan to increase the minimum wage paid to civil servants in Nigeria. 
  • Low paying companies sometimes bolster their pay with allowances.
  • The salary paid to interns and trainees are less than the amount paid to entry level workers.
  • Most multinational companies pay according to global standards and are among the highest paying companies in Nigeria.
  • Figures stated here represent net total amount with tax deductions.