NOLLYWOOD PLAYERS UNABLE TO ACCESS N6BN FG FUND BY NGOZI EMEDOLIBE
In spite of the optimism that trailed the announcement of a N6bn fund to support the creative industry by President Goodluck Jonathan in 2011, only four companies have been able to access the money so far.
National Mirror investigations revealed that the companies were Film House Ltd, Tony Abulu Films, Gabosky Films and the producers of Half of a Yellow Sun, who got part of their funding the money, bringing the total number of successful applicants to just four in three years.
This has made the over N6bn lying in the vaults of NEXIM Bank and the Bank of Industry one of the most unsubscribed government backed facilities, as less than two per cent of the total funds has been accessed so far. A majority of the successful applicants got averagely $200,000 (N33m).