BoI Engages Nollywood At AFRIFF

Rasheed Olaoluwa, MD BoI

Rasheed Olaoluwa, MD BoI

IN line with its resolve to regularly interact and give support to the Nigerian movie industry popularly known as Nollywood, Bank of Industry, BoI, will be engaging filmmakers through a meet and greet session at the forthcoming Africa International Film Festival, AFRIFF.

The forum, which will take place at the Eko Hotel and Suites on Tuesday, November 10, 2015, from 3pm to 5pm, is expected to provide a platform between filmmakers and staff of the bank to interact better on the much publicised BoI NollyFund (BNF), an initial Program Limit of N1.0billion and a single obligor limit of N50million for individual loans.

The special product program enables Nigeria’s leading movie producers receive financial support to produce international quality films and screen them through various platforms of movie distribution available both in Nigeria and internationally.

AFRIFF will provide the first largest platform to discuss the opportunities therein for filmmakers through in an informal setting.

Notable filmmaker, Kunle Afolayan is one of the filmmakers who have accessed the fund for their different projects. Afolayan’s movie, The CEO, for which the loan was obtained, is predicted to be one of the best pan-African movies to come out of Nigeria.

Interestingly, the Bank has already accredited some reputable Distributors such as G-Media, Filmone Distribution Company, Silverbird Distribution Company and Genesis Deluxe Distribution Company, as well as Studio Operators such as Fans Connect Online Nigeria Limited (i.e. Afrinolly), Kingsley Ogoro Productions Limited and 4Screams International Nigeria Limited) to support this initiative.

It would be recalled that the Bank of Industry had in the recent past, financed the following creative-industry projects: Half of A Yellow Sun, Flower Girl, Digitization of Silverbird Cinemas, The Filmhouse, Viva Cinemas, Ozone Cinemas, G-media etc.

Few months after it launched the Nollyfund, BoI extended the same facility to the fashion industry as part of the bank’s support for Small and Medium Enterprises (SMEs).

The Bank’s MD had said during the launch of the fashion fund that Nigerian fashion designers are one of the most creative in the world, adding that the fund was an initiative under the Gender Unit of the bank, and also targeted toward women-owned businesses only.

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