Nigeria: Emefiele to Unveil 5-Yr Plan As Central Bank Plans Movie, Music Academies

Savings, money.

Lagos — As the governor of the Central Bank of Nigeria (CBN) is set to unveil his five - year plan today, the director, Corporate Communications of the apex bank has said it would be centered on growth and job creation, as he revealed plans to build music and movie academy to support the creative industry.

Emefiele had on resumption of office for his second tenure earlier this month said he would be unveiling the pathway to be towed by the apex bank later in the month. The CBN spokesman, Isaac Okoraofor, during an interactive session with organised labour at the weekend noted that the details of the CBN policies would be centered on growth and job creation.

He noted that the policies were tailored to make sure that "we produce and add value and expert. For you to produce you must have workers, for you to add value you must employ workers and when you export, you earn more and you are able to expand and employ more workers."

He further revealed that in addition to the Creative Industry Financing Initiative (CIFI) which was recently launched, the CBN was planning academies for both the music and movie industry. He added that a plan to create an information technology hub is also in the pipeline.

Noting that Nigerians dominate the music and movie industry in Africa, he said, "We are going to build a music academy where they will be trained so that their talents will grow and conquer the world. We are going to build a film academy, we are going to build an IT hub.

"We are going to get the best trainers abroad so that when these people are undergoing training they can better use their creative energy and then we will lead them to bank loans that will make them run on their own."

Okoroafor, who said the CBN in collaboration with the Bankers Committee was putting together the fund to ensure that all Nigerians who are in the creative sector have access to funding noted that "Nigerians are one of the most creative people around the world and our youths are very good in the development of software applications."

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