Creative Industry Financing Initiative (CIFI)

The CBN and the Bankers' Committee established the CIFI in 2018 as part of efforts to boost job creation in Nigeria, particularly among the youth. The initiative has four Verticals: Fashion, Information Technology, Movie, Music, and depending on the vertical, applicants can access loans ranging from N3 million to N50 million and N500 million for Movie Distribution business. Training, equipment and rental/service fees also be covered under the facility for fashion and other ICT entrepreneurs.

Objectives of the Facility

1. To improve access to long-term, low-cost financing to entrepreneurs and investors in the Nigerian creative and information technology (IT) sub-sectors
2. Initiative targeted at:
   • Existing enterprises in the creative industry;
   • Start-ups engaged in the creative industry; and
   • Students of higher institutions engaged in software development.
3. applications to their banks for approval and disbursement.
4. Interested applicants in the Creative Industry are hereby advised to submit

How to Apply

To apply for CIFI, please visit your PFIs.

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