CONDUCT DUE DILIGENCE ON YOUR FUNDING SOURCES, EFCC TELLS FILMMAKERS
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The Economic snd Financial Crimes Commission has urged Nigerian filmmakers to conduct due diligence before accepting funding for movie productions.
The chairman of the Commission,Mr Olanipekun Olukayode stated this at the National Film and Video Censors Board Round Table Forum with film producers,exhibitors and distributors, titled ” Morality and Ethics in Film Production in Nigeria at the Second Lagos International Film and Cinema Convention.
The chairman who was represented at the event by the Head,Public Affairs,EFCC, Lagos Directorate,Ayo Oyewole challenged filmmakers to ensure that the film industry does not become a soft target for funds laundered illegally from outside the financial system.
According to Oyewole,” filmmakers must conduct due diligence on funds for their productions otherwise they act as courier for illicit funds”.
Oyewole,who is also a deputy commander in the commission stated,”there is need for filmmakers to carry out know your customer test before accessing any funding.”
The Executive Director of the National Film and Video Censors Board, Dr Husseini Shaibu collaborated the claim by the EFCC.
Husseini adominished filmmakers to pay greater attention to the sources of funds for their film productions and the promotion of crimes in their films, noting that his only regret is that ,” the consequences of crime in some films are usually not commensurate with the crime committed by the antagonist in some movies”.
His words: ” with the abrogation of tobacco advertising in the electronic and print media, and the EFCC closing down on Estate Developers,the film industry naturally becomes the next target for illicit funds”.
Responding, the President of the Cinema Exhibitors Association of Nigeria,Mr Opeyemi Ajayi informed the EFCC representative that his request is difficult for the film industry to meet because the sector is private driven. Moreso,”the film industry doesn’t receive any funding or grants from the government”, he averred. Another prominent filmmaker,Teco Benson,shared the same sentiment, advising the EFCC to put money down for Productions if they want certain films prodced or commission documentaries. He said the onus is on the EFCC to track the owners of the funds,while filmmakers are concerned on how to repay the funds advanced to them.
Responding further,Oyewole admitted the EFCC does not provide funding for film prodctions and also have no say on the direction of the script,rather,the EFCC is only appealing to filmmakers to change the narrative for the betterment of the economy.
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