Viva Cinema Company Limited has again opened a new film house in Ilorin, the Kwara State capital. Sponsored by Bank of Industry (BoI), the company’s latest cinema house was opened to movie goers amidst a huge ceremony, last Friday. The gesture by BoI is part of its ‘Nollyfund’ initiative, whereby an initial of N1.0billion has been earmarked, with a single obligor limit of N50million for individual loans.

Rasheed-Olaoluw-MD-BoI

The Bank, which has been at the forefront of providing facilities for film production and distribution chain, is also helping filmmakers to produce international quality films which are screened through various platforms of movie distribution available both in Nigeria and abroad.

The opening of Viva Cinema which is located within the popular Shoprite Mall, Ilorin, attracted a huge crowd that thronged the Cinema Hall, to relish the opening films and the physical presence of their adorned stars. Some of the Nollywood stars at the event are Olumide Bakare, Bukunmi Oluwasina and Muyiwa Oladapo.

Speaking at the event, representaetive of the sponsoring company and Bol’s Divisional Head for Large Enterprises, Joseph Babatunde, said the Bank has invested millions of Naira into the industry. He recalled that VIVA Cinema was also established in Ibadan, Oyo State, recently.

“We have spent quite some money to support the company,” he said.

According to Babatunde, “the entertainment industry holds a lot in terms of provision of employment. You will recall, the 2013 rebased Gross Domestic Product (GDP), the creative industry contributed about 1.6 percent (six million Dollars). That means the industry holds a lot of potentials.

Scores of youths who come out of the university with a lot of talents can exercise themselves through the promotion of the creative industry. It will be recalled that BoI recently gave opportunity to filmmakers who desire sponsorship for their scripts, having accredited some reputable distributors to support the initiative. They include, G-Media.