The Financial Institutions Training Centre has urged financial institutions in the country to create funding interventions for Nollywood to enable it to be more productive and have a greater impact on the economy.
The FITC Managing Director/Chief Executive Officer, Chizor Malize, stated this at the fifth edition of the annual seminar and Short Film Screening of Nollywood Creative Mind forum held in Lagos recently.
While speaking during her keynote address themed, ‘Finding Common Grounds for Collaboration Between the Film Industry and Financial Institutions,’ she emphasised the noteworthy achievements recorded by the industry.
According to her despite the potential of the Nollywood industry, the sector remains underfunded. She added that the industry’s frequent funding challenges have forced some filmmakers to seek external support and assistance, which have stringent requirements attached to them.
She said, “Just like Sports, Nollywood is too strategic, an economic dynamic to be left to the vagaries of government-inspired policy intervention alone.
“It requires a more rigorous and robust funding intervention that will become more amenable to a private sector-driven management dynamic, than what the solely government-driven control can yield.”
Malize noted that a handshake between the Nollywood industry and the financial sector could only lead to prosperity. She explained that there are common grounds that can be reached between the Nollywood Industry and the nation’s financial services sector.
She added, “This will invariably increase the overall Gross Domestic Product of Nigeria thus stimulating growth and development and better position the country as a powerhouse in Movie production.”
The President, Nollywood Creative Mind Forum, Mrs Ijeoma Richards, said the event was an annual gathering of professionals within the Nollywood industry aimed at identifying and harnessing opportunities, providing mentorship, and creating a viable platform for artists to collaborate.
She highlighted that professionals from the financial sector and the media were invited to see how both sectors can collaborate with Nollywood to identify new windows of openings and innovation to help develop the industry beyond where it is.
