How to benefit from the Creative Industry Financing Initiative
The CBN in collaboration with the Bankers’ Committee as part of efforts to boost job creation in Nigeria, particularly among the youth, has developed a Creative Industry Financing Initiative (CIFI).
The initiative has four pillars, namely:
- Information Technology
Interested applicants in the Creative Industry are hereby advised to submit applications to their banks for approval and disbursement.
How to benefit from the Creative Industry Financing Initiative:
Is your business in any of the following areas?
- Information Technology
- Movie Production
- Movie Distribution
- Music and
- Software Engineering Student Loan
- Prepare your business plan or statement on how much you want for your business.
- You can get a loan of up to:
a) N3 million for Software Engineering Student.
b) N30 million for Movie Production business.
c) N500 million for Movie Distribution business.
d) Cover your rental/service fees for Fashion and Information Technology business.
e) Cover your training fees, equipment fees, and rental/service fees for Music business.
How to Access the Fund
- Go to any bank of your choice to access the fund.
- Tell your bank how much you need.
- Your bank will discuss your request and provide you the money.
- The maximum interest rate of 9.0% per annum (all charges inclusive) is applicable to all loans.
Period for the repayment of the loan:
a) For Software Engineering Student Loan, it is a maximum of three years.
b) For Movie Production and Distribution, it is a maximum of ten years.
c) For Fashion, Information Technology (IT) and Music, it is a maximum of ten years.
You can contact us NOW via 08105636015 or 08076359735 or send a mail to firstname.lastname@example.org to get professional help with the application.
For more information, please visit: CBN webpage
Serial Entrepreneur - International Business Planning and Development Consultant - Speaker - Trainer - Author - Blogger - Network Marketing professional.
- 2018 SME Business Trainer and Coaching Advisor at GIZ (Deutsche Gesellschaft für Internationale Zusammenarbeit) for SME Loop.
- 2018 Executive Director/ Project Manager, Dayo Adetiloye Empowerment and Development Initiative
- 2018 YALI RLC Online Cohort 9
- 2017 Fellow, Inspire Africa Train-the-Trainer Entrepreneurship programme sponsored by US Consulate Lagos and the Dickey Center, U.S.A.
- 2016 Fellow, Tony Elumelu Foundation Entrepreneurship Programme
- 2016 CEO, Dayo Adetiloye Business Hub
- 2015 Top 50 Innovative Entrepreneurs, BET5 by Diamond Bank and EDC, PAU.
He is an alumnus of Enterprise Development Centre (EDC) of the Lagos Business School (LBS), Pan-Atlantic University (PAU). And Obafemi Awolowo University (OAU) Ile-Ife, Nigeria.
Through his training, mentoring, speaking and coaching programmes, he has empowered many young people over the years to start and grow their own business, build wealth, create multiple streams of income and achieve financial independence.
- He is a Certified Trainer in Design Thinking by the U.S Consulate, Lagos and the inspire Africa Entrepreneurship Institute.