NEXIM Bank Storms Cannes Film Festival

The Nigerian Export-Import Bank and the Nigerian Film Corporation co-sponsored the just concluded 65th edition of Cannes International Film Festival, held in Cannes, France.

The NEXIM team was at the festival to seek co-financing/co-production opportunities in support of the Nigerian motion picture industry. At a special session held on 23 May, in conjunction with the Federal Inland Revenue Service (FIRS) and the NFC, the bank enjoined exhibitors to explore areas of synergy between producers and film makers.

Highlights of the bank’s participation included a paper presentation led by Awami Mohammed, NEXIM’s Assistant Manager, Credit Insurance and Guarantee Department, on co-financing/co-production opportunities for the Nigerian motion picture industry.

Mohammed, who represented the Managing Director of the Bank, Roberts Orya, explained that NEXIM as a government-owned financial institution has the mandate that includes the provision of credit facilities in both local and foreign currencies. The bank, he added, considers the creative arts and entertainment industry as an important sector with sustainable growth and foreign exchange potential that would generate and sustain employment as well as create wealth and continuous pool of talents.

The session which was attended by other officials of NEXIM, FIRS, NFC (led by Mr. Afolabi Adesanya, MD, NFC), and filmmakers from France, Germany, Kenya, South Africa and other countries also had in attendance, Nigerian filmmakers like Mahmood Ali-Balogun (Tango with Me) and Kunle Afolayan (Figurine) availing themselves with opportunity of the $200 million Intervention Fund for the entertainment industry that is being co-managed by NEXIM.

—Funsho Arogundade