The Managing Director/ Chief Executive, Heritage Bank Limited, Mr. Ifie Sekibo, has called for appropriate legislation that will enhance flow of funds to the creative industry and help maximise the potential of operators in the industry.
Sekibo, made this call while speaking on the contributions of Heritage Bank to the creative industry.
He said: “Financial institutions will be able to invest more if there is a proper law militating against piracy, there will be value for your money and creativity and thereby making the banks to want to invest more in the creativity industry.”
He noted that collaboration between the government and banks was needed to maximise the potential of the creative industry.
A statement quoted him to have explained: “We need to push government to be able to create legislations, policies that will enhance this seeming passion and turn it into business opportunities and by so doing, it will turn to economic and empowerment of our people.
“There is a lot we need to do as banks and government so that we can enhance creativity in terms of culture.
“Government policies are extremely important in achieving this. If there are no proper policies, funding becomes a problem.
“And the collaboration between banks and government is needed to define what kind of policy and what kind of funding needs to applied. These and many more are things to look at critically.
“Take for example, Nollywood script writer that has no proper propriety or intellectual property law protecting his script, he is unable to monetise it.
“But if there is proper government policy, then he is able to take it to the bank and monetise it and he is able to grow the industry.
“This cuts across, even if it is an artist and there is no law or policies guarding artworks, anybody can steal and sell his ideas anytime.”
He highlighted various contributions of the bank to the creative industry.