21 months ago President Goodluck Jonathan announced a 3 billion Naira intervention fund for Nollywood.
Today not one single film has been made and visible with that money.

Lets say you give 5 million naira as grant to one filmmaker, 600 films could have been made by now.
That could have created 1 million jobs directly and indirectly(all the way to the street hustlers) and not just benefiting some Oyinbo schools.

But here is what Madam Okonjo Iweala and the executors of the grants including Supo Olusi the Project Coordinator has been doing.

1. Flying from one 5 star hotel to the other having meetings about how to spend the money while reducing the funds with their expenses
2. Flying actors to different international schools to go and learn about film directing instead of acting.
3. At some point it was said they had exhausted the capacity building funds which is a real Nigeria Magic right there

It is a shame because Goodluck Jonathan could be voted out in 3 months and every filmmaker that could have truly benefited will have no choice but to forget about it.

There is a legend that says they gave a chunk of the money to Ben Bruce but don't know how true that is.

The funds could truly be Gone With the Wind

A trust fund means that each project owner can go to the funds manager and get loan and pay back to the trust later. Go back to school.

It looks like a scam or some poor management of funds


front page things

This is definitely an accusation from a faceless individual. All the allegation here are false. It is clear that AfricanKing is just running with news from the grapevine. I don't think anyone should take him serious.

mlane:
This is definitely an accusation from a faceless individual. All the allegation here are false. It is clear that AfricanKing is just running with news from the grapevine. I don't think anyone should take him serious.

Since you are better informed, tell us what they have done with the money.
Mention one single film project they have done out of the 3 billion.


based on the threads you have previously created, you are likely an agent of our dear Madam.
Madam Okonjo Iweala's Agent 007

[size=15pt]Film fund: FG doles out N215.5m to filmmakers[/size]

TWENTY six filmmakers, who applied for the film intervention fund grant made available by President Goodluck Jonathan under the Project ACT Nollywood, knew their fate Tuesday, as they were called to Abuja for the presentation of the grants.
Although sources say the monies will take two weeks to clear, the filmmakers got between N15million and N2million, depending on the magnitude of the film project they proposed.
Disbursed by the Ministry of Finance, managers of the fund, Minister of Finance, Dr Ngozi Okonjo-Iweala, noted that the Federal Government was committed to using the creative arts industry as vehicle to boost the nation’s economy.
“President Goodluck Jonathan is very much aware of the contribution of creative industry to the economic development of the country and I think several states have also tried to attract the industry.
“From what I understand, issues of intellectual property, quality and so on, are paramount and that is why the president thought that he would put this initiative together to support the industry.
“He had always believed in the power of the creative industries to try and help transform the country.
“This is through the employment that the industry will create for our young people, particularly those that have left the university,” she said.
According to Okonjo-Iweala, the N215.5 million that was being disbursed was part of the N700million earmarked for the film producing segment of the fund, and the 26 filmmakers are the first batch of beneficiaries.
She said that the industry had so far created no fewer than 200,000 direct and one million indirect jobs worth 250 million dollars, but added that, “One of the problems we have with you is that we often have a little more of a contentious approach within the industry.”
The Project Director, Project ACT Nollywood, Dr Supo Olusi, explained that the amount was being disbursed as grants to industry operators who met the benchmark for accessing the money.
“There is a provision in their MoUs that they must produce movies from the grant within three months after the due date in the MoU to ensure that they deliver,” he said.
Notable filmmakers whose production companies applied for the fund and who were seen at the event included, Kunle Afolayan, Desmond Elliot, Akin Konhi, Emeka Ossai, Greg Odutayo and producer of Living in Bondage, Keneth Nnebue.

It seems like the purpose of this post is working..


@mlane has reported back to madam