Bank of Industry (BoI) has denied
receiving $200 million Entertainment/
Nollywood Fund from the former
administration of President Goodluck
Jonathan, for the development of Nigeria’s
entertainment industry.
The bank described as untrue a news report
calling for the probe of the bank on the
premise that the former president had
released the money to it, clarifying that the
bank never received such money.
“The attention of the bank has been drawn to
a news report titled “Probe Jonathan’s $200
million Nollywood Fund, Lari Williams tells
Buhari” wherein Mr. Lari alluded to the
domiciliation of $200 million with the Bank of
Industry Limited for eventual disbursement to
artists who are able to come up with viable
business plans.
“BOI would like to state for the records that it
is not managing any $200 million
Entertainment/Nollywood Fund and at no time
did the bank receive any such fund from the
government for the Entertainment/Nollywood
sector.
“This publication became necessary as some
practitioners in the creative industry believe
that BOI is in receipt of $200 million
Entertainment/Nollywood Fund.
“Due to the commercial potentials of the
entertainment industry in Nigeria, the bank
has been making investments in the industry
from its own resources since 2011. It has
provided financial and advisory support to the
following sub-sectors of the industry: movie
production, cinemas, amusement/theme parks
production studios, etc. Recently, the Bank
launched the NollyFund with a fund size of
N1.0 billion to support movie production and
distribution.
“Based on the foregoing, we hereby state
unequivocally that the Bank of Industry
Limited is not in custody of $200 million
meant for the Entertainment/Nollywood
sector,” said the statement. http://www.premiumtimesng.com/arts-entertainment/nollywood-nigeria/188611-jonathan-govt-didnt-give-us-200m-nollywood-funds-bank-of-industry-2.html

my brother...

Omo see gobe!

So where did the $200million go to?... Another scam may just be uncovered pretty soon. Probably the money was shared to some connected nollywood individuals without recourse to any formal process. No wonder some popular nollywood faces were ready to die ontop GEJ matter.

GEJ is busy enjoying himself in Kenya, while Nigerians are busy looking for spiritual funds.

ABRACADABRA! $200 million vanished?!?! Now that's a magic trick!

Chai!

African Magic Has Eventually Materialized. Hehe

hum