Heritage Bank earmarks N5bn support funds for creative industry

Heritage Bank Plc has arranged N5 billion as support funds to drive and stimulate sustainable growth in the Nigeria’s creative and entertainment industry.

The lender said the focus of the funds is to give a new lease of life to the sector which has been acknowledged as one among worst hit sectors by the adverse effect of Coronavirus pandemic.

Meanwhile, Heritage Bank doled out the sum of N1 million to Damilola Adeyemi, a winner of an online giveaway competition to celebrate the bank’s product, Ynspyre ambassador, Oladapo Daniel Oyebanjo, better known by his stage name D’banj, which heralds launching of the Ynspyre Account set aside for talented young Nigerians in the different spectrum of the creative and entertainment industry.

Ifie Sekibo, the managing director and chief executive officer of the bank, who affirmed Heritage Bank’s commitment to the development and growth of the nation’s creative sector, described the sector as one of the leeway to solving the unemployment occasioned by the prevailing adverse macro-economic environment.

Sekibo, during the presentation of the N1 million cheque, said the development and growth of the entertainment industry will get as many people as possible involved as manufacturing, banking and other sectors cannot do it alone.

The bank, in statement, yesterday, signed by the Divisional Head, Corporate Communications of the bank, Fela Ibidapo, assured “the entertainment is going to take a new leaf of life, with the Ynspyre platform; we are hoping to start with this and obviously it will grow to another level. You will see greater things in couple of months.”

Sekibo said the music industry has done so much for Nigeria in terms of employment and foreign exchange earnings and if more resources could be put into it, the country would be better for it.

Besides supporting individual artistes in the industry, the bank has also partnered with some organisers to perform and produce some entertainment shows.

In similar manner, whilst confirming the N5billion set aside for the creative sector and commending Heritage Bank for its numerous bold steps in supporting the industry, D’banji stated, “The reason for setting up this fund is for creative people like me, you (Adeyemi) and the other upcoming artists to have access to it.

“I want to commend Heritage Bank for believing not just in me but the creative industry. Over the years, Heritage Bank has worked behind the scene to sponsor and invest in lots of creativity projects.”

Speaking on the modalities of the product, he disclosed that the Ynspyre Account is the perfect account, specifically created to accommodate and support creative ideas in the industry, which do not need collateral.