Ace actor, Ramsey Noah has explained why the Bank of Industry does not grant loan facilities to some Nollywood filmmakers.
He made this known in an interview with TheCable published on Saturday.
According to him, the actions of some filmmakers who borrowed money and failed to refund the loan led to the BoI’s reluctance to fund some Nollywood projects.
He said, “There are so many criteria that actually allow you to get a film. Of course, it’s still profit oriented. So it’s not as if the government does not put intervention money into an industry without making good returns, without money circulating. They want money to circulate. However, there have to be factors. Either your story is good, or you have a good track record that you are a great filmmaker. All of those things are very important to them so that they do not throw their money away because in the end that’s what it’s going to mean. And BOI unfortunately has been burnt by some producers they’ve given money so we don’t even know that they’re going to continue.”