We Didn’t Receive Jonathan Govt’s $200m Nollywood Funds, Says Bank of Industry

Nollywood Observer

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The Bank of Industry (BoI) has denied receiving $200 million Entertainment/Nollywood Fund from the former administration of President Goodluck Jonathan, for the development of Nigeria’s entertainment industry.
In a statement issued Tuesday, the bank described as untrue a news report calling for the probe of the bank on the premise that the former president had released the money to it, clarifying that it never received such money.
“The attention of the bank has been drawn to a news report titled ‘Probe Jonathan’s $200 million Nollywood Fund, Lari Williams tells Buhari’, wherein Mr. Lari alluded to the domiciliation of $200 million with the Bank of Industry Limited for eventual disbursement to artists who are able to come up with viable business plans.
“BOI would like to state for the records that it is not managing any $200 million Entertainment/Nollywood Fund and at no time did the bank receive any such fund…

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