How To Benefit From FG’s Loan Under The Creative Industry Financing Initiative

Buhari Approves Loan For Nigeria’s Creative Industry

The federal government has made available over N500m as loan to Nigerians under the Creative Industry Financing Initiative (CIFI).

Under the initiative, eligible persons can get loans at the maximum interest rate of 9% per annum.

Naija News understands the initiative has four pillars- Fashion, IT, Movie and Music.

A statement on the development as made available to newsmen on Wednesday in a press release from the Aso Rock Villa via its official Facebook page.

It reads:

Did you know that the Central Bank of Nigeria (CBN) has developed a Creative Industry Financing Initiative (CIFI)?

Interested applicants in the creative industry are advised to submit applications to their banks for approval and disbursement. The initiative has four pillars- Fashion, IT, Movie & Music.

You can get a loan of up to:
– N3m for Software Engineering student;
– N30m for Movie production business;
– N500m for movie distribution business;
– Cover rental/service fees for Fashion, and IT business;
– Cover fees for training, equipment, & rental/service for Music business.

Go to any bank of your choice to access the fund. The maximum interest rate of 9.0% per annum is applicable to all loans. For more information, please visit http://www.cbn.gov.ng