(VIDEO) Afrexim Bank Commits $200m as FEC Okays Creative Economy Fund

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The Federal Executive Council meeting presided over by Nigeria’s President Bola Tinubu has approved the establishment of the Creative Economy Development Fund to pool resources for those in the creative industry.

Minister of Arts, Culture and Creative Economy, Hannatu Musawa revealed this shortly after the meeting, which was held at the Council Chambers of the Presidential Villa, Abuja.

She said the Ministry has gotten commitment from Afrexim Bank to the tune of $200 million to kick start the Fund.

According to Musawa, the IP will allow creatives to use it to get collateral for access to funding.

SOURCE: swifteradio.com