CBN unveils the Creative Industry Financing Initiative, offers N500m loans

"The Central Bank of Nigeria (CBN) in conjunction with the Bankers’ Committee has finally unveiled the Creative Industry Financing Initiative (CIFI)" which will enable businesses to access a 9% per annum all charge interest loan facility up to the tune of N500 million.

This initiative of the apex financial sector in collaboration with the bankers committee is expected to guarantee availability of funding for the Nigerian Creative industry which are as specified, Fashion, Information Technology, Movie Production, Movie Distribution, Music and Software engineering students loan. I believe the measure will see growth in the various sectors aid job creation and ultimately impart the Nigerian economy.

However, I must express fear in the implementation and accessibility of the facility believing that transparent and flexible modalities are put in place for businesses that meets the requirements to access the facility regardless of who they know or do not know.

Please look to https: https://nairametrics.com/2019/05/07/cbn-unveils-the-creative-industry-financing-initiative-offers-n500m-loans/