In a move to boost the entertainment industry, Central Bank of Nigeria has set up a financing initiative to help upcoming musicians and filmmakers.
The initiative known as the Creative Industry Financing Initiative (CIFI) will give loans ranging from 3 million naira to 500 million naira.
CIFI was announced today on Twitter by the AsoRock social media account.
Here’s the official statement below.
Did you know that the @cenbank has developed a Creative Industry Financing Initiative (CIFI)? Interested applicants in the creative industry are advised to submit applications to their banks for approval & disbursement. The initiative has four pillars- Fashion, IT, Movie & Music.