{"id":274287,"date":"2011-01-17T07:32:28","date_gmt":"2011-01-17T07:32:28","guid":{"rendered":"http:\/\/www.ghanamma.net\/?p=48096"},"modified":"2011-01-17T07:32:28","modified_gmt":"2011-01-17T07:32:28","slug":"stake-holders-react-as-govt-releases-us200m-entertainment-fund","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/01\/17\/stake-holders-react-as-govt-releases-us200m-entertainment-fund\/","title":{"rendered":"Stake holders react as Govt releases US$200m Entertainment Fund"},"content":{"rendered":"<p><a rel=\"attachment wp-att-37533\" href=\"http:\/\/www.ghanamma.net\/2010\/11\/27\/nollywood-stars-making-fortunes-from-music\/nollywood-stars1\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-37533\" title=\"nollywood-stars1\" src=\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2010\/11\/nollywood-stars1.jpg\" alt=\"\" width=\"263\" height=\"300\" \/><\/a>The dust raised over the announcement of\u00a0 US$200, 0 00,000 (grant for the  entertainment industry may have finally settled, as government  announced during the week, the release of the funds.<br \/>\nThe Honourable Minister of Finance, Mr. Olusegun Aganga, who  confirmed the provision of Special Entertainment Fund which has since  been released to the Bank of Industry (BoI).<br \/>\nThe bank,\u00a0 according to our source has been appointed the custodian  of the Fund, while the Lagos Business School will provide  entrepreneurial capacity training for beneficiaries of the Fund.<br \/>\nApplication to access the funds accordingly opens on January 17, 2011 and borrowing will attract a single digit interest rate.<br \/>\nAnd to make the funds accessible to interested applicants, the bank  has a new site http:\/\/www.boinigeria.com in place and advise would be  applicants to visit the website.<br \/>\nAt the 30the anniversary of the Silverbird group, the President, Dr.  Goodluck Jonathan\u00a0 shocked the audience especially members of the  entertainment community with the announcement of\u00a0 US$200,000,000 funds  for the entertainment industry.<br \/>\nThe furore that greeted the announcement few days later was such that  some stakeholders who feared they may be short changed cried wolves  even government was yet to announce modalities for disbursing the funds.<br \/>\nReacting to the news, Actors Guild of Nigeria (AGN) President, Segun  Arinze said the news was a welcome development pointing that the  decision of officials of the ministry of finance to hand pick a few  individuals to a meeting on a matter concerning the entire entertainment  industry was suspect.<br \/>\n\u201cWhat the ministry ought to have done, was to invite all the  rellevant arms of the industry to that round table, after all we all  have vested interest in the business.<br \/>\nThey can be forgiven now that the fund is a reality. The next thing  to do is for the bank to set up a check system that will discourage  people who borrow and don\u2019t pay back,\u201d Mr. Arinze stated.<br \/>\nDelta State Commissioner of Youth Development, an actor and a stake  holder, Mr. Richard Mofe -Damijo in a telephone interview was  conservative with his words.<br \/>\n\u201cWhen the President made the announcement, I was excited but that\u2019s  as far as it goes. I need to understand the modalities, know the  consultants advising on the project and the criteria that requires one  to access the funds\u201d were all he could volunteer.<br \/>\nPlaywright and producer, Dr. Ola Balogun was ignorant of the  development, saying \u201c I have not been following the event, but as soon  as I have more information at my disposition, I will certainly get back  to you\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The dust raised over the announcement of\u00a0 US$200, 0 00,000 (grant for the entertainment industry may have finally settled, as government announced during the week, the release of the funds. The Honourable Minister of Finance, Mr. Olusegun Aganga, who confirmed the provision of Special Entertainment Fund which has since been released to the Bank of [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-274287","post","type-post","status-publish","format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Stake holders react as Govt releases US$200m Entertainment Fund - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/01\/17\/stake-holders-react-as-govt-releases-us200m-entertainment-fund\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Stake holders react as Govt releases US$200m Entertainment Fund - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"The dust raised over the announcement of\u00a0 US$200, 0 00,000 (grant for the entertainment industry may have finally settled, as government announced during the week, the release of the funds. 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