FG Suspends Disbursement Of Project Act Nollywood Fund
Arts, Entertainment News, Featured, Latest Headlines Monday, July 18th, 2016
ABUJA, NIGERIA (AFRICAN EXAMINER) – Nigerian Film practitioners might have to wait indefinitely for the approval of N3 billion Innovative Distribution Fund (IDF) application, as the Federal Government (FG) has directed suspension of its disbursement and distribution.
The directive to this effect emerged last weekend at a meeting between the Finance Minister Mrs. Kemi Adeosun and her Information and Culture counterpart, Alhaji Lai Mohammed and representatives of the film practitioners.
The meeting resolved that the disbursement will be delayed till the outcome of the committee’s report which was set up to investigate the funding initiative.
The practitioners had expected the approval of N1.9 billion – the first tranche of the fund, otherwise referred to as Project Act Nollywood fund.
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