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Runsewe commends Emefiele for creative industry financing initiative

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The Director-General National Council for Arts and Culture (NCAC), Otunba Olusegun Runsewe has commended Central Bank Governor, Mr. Godwin Emefiele, for developing a creative industry financing initiative.

Runsewe, who gave this commendation in Abuja, said that the initiative would allow investors in the creative industry access loan up to five hundred million naira (¦ 500,000,000) with nine percent (9%) interest rate.

He said that the initiative would greatly boost the industry and enhance the capacity of key players in the sector to optimise their potential.

The NCAC boss noted that more than ten countries of the world have used similar initiative to fight poverty, unemployment, crime and youth restiveness.

“With this noble and patriotic initiative, the CBN Governor has clearly demonstrated his commitment to President Buhari’s economic development agenda with emphasis on diversification and job creation” Runsewe said.

He said: “As one of the highest employers of labour, if the creative industry is fully developed, it will not only create mass employment, it will also stimulate rapid socio-economic growth and development”.

Runsewe called on key players in the creative industry to take advantage of the opportunity of the facility to develop and strengthen their businesses.

He also enjoined prospective beneficiaries of the facility to ensure that they comply with the terms and conditions of repayment.

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