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Nollyfund gives film makers a financial boost

29 April 2015, 15:06

Lagos -Nollywood film makers get a financial injection from the Bank of Industry (BOI) with a special project called Nollyfund, reports Nigerian Entertainment Today(NET)

The product will identify international quality films and screen them through various platforms of movie distribution available both in Nigeria and internationally.

 The Bank has set up a NollyFund Implementation Advisory Group made up of two  cinema management experts, one  national film distributor, two production and post-production experts, two  film critics/reviewers, and two  film producers, to get viable scripts.

The Group’s mandate is to critically review all the film scripts and associated budgets submitted to BoI by movie producers and make technical recommendations to the management for final credit appraisal and subsequent approval in line with the Bank’s Credit Policy.

NollyFund has an initial Program Limit of N1.0bn and a single obligor limit of N50m for individual loans. The Fund can be accessed by companies engaged in film production.

Read more at NET

- News24

Tags nollywood

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