The Economic and Financial Crimes Commission (EFCC) has urged filmmakers to exercise caution when accepting funding for movie production, ensuring they conduct thorough due diligence to avoid unwittingly supporting illicit activities.
EFCC Chairman, Mr. Olanipekun Olukayode, made this appeal at the National Film and Video Censors Board (NFVCB) Round Table Forum, emphasizing the need for the film industry to avoid becoming a conduit for laundered funds.
He encouraged filmmakers to prioritize ethical considerations and scrutinize funding sources to prevent the infiltration of illegally obtained funds into the industry.
This contained in a statement the National Film and Video Censors Board released on Thursday, which was shared on its X account.
The chairman according to the statement was represented by EFCC’s Head, Public Affairs, Lagos Directorate, Ayo Oyewole.
Speaking, he challenged filmmakers to ensure that the film industry does not become a soft target for funds laundered illegally from outside the financial system.
“Filmmakers must conduct due diligence on funds for their productions otherwise they act as courier for illicit funds,” Oyewole, said adding, “there is need for filmmakers to carry out know your customer test before accessing any funding.”
Oyewole, however, admitted that the EFCC does not provide funding for film productions and also have no say on the direction of the script, however, the appeal to filmmakers is for the betterment of the economy.
The Executive Director of the National Film and Video Censors Board, Dr Husseini Shaibu collaborated the claim by the EFCC.
According Husseini “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.”
He, however enjoined filmmakers to pay greater attention to the sources of funds for their film productions and the promotion of crimes in their film.
He expressed regret that, “the consequences of crime in some films are usually not commensurate with the crime committed by the antagonist in some movies.”
Responding, the President of the Cinema Exhibitors Association of Nigeria, Mr Opeyemi Ajayi, stated that request by the anti-graft agency was difficult for the film industry to meet, stating that the sector is a private driven.
“Moreso, the film industry doesn’t receive any funding or grants from the government,” he said.
Another prominent filmmaker, Teco Benson, shared the same sentiment, advising the EFCC to put money down for Productions if they want certain films produced 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.
