The attention of the Nigerian Film Corporation, the agency responsible for the development and promotion of the Nigerian Film Industry has been drawn to the purported establishment of a ”Nigerian Film Fund” (NiFiFu), ostensibly for the development of the Nigerian film industry.

The NFC wishes to state categorically that neither the Government of the Federal Republic of Nigeria, the Federal Ministry of Information and Communications and any other Government Agency or parastatal, which has the statutory rights to bear the name 'Nigerian' against its name and mandate is behind or has established the said Nigerian Film Fund.

While the Nigerian Film Corporation welcomes Private, Corporate and individual initiatives and positive contributions towards the development of the Nigerian Film Industry, it behoves on her to guide the public and at the same time, provide the necessary policy direction and framework for such participation.

Thus in 2005, four National Committees were inaugurated by Chief Chukwuemeka Chikelu (the then Minister of Information) to design a blue print that was intended to reposition the Film Industry.

The four committees were the National Film Policy Review Committees, The Committee on Motion Picture Council of Nigeria, the National Film Village Committee and the National Film Development Fund.

Reports of the various Committees were submitted to the then Minister, Mr. Frank Nweke, Jnr. on Thursday November 30, 2006. The committees, especially that of the National Film Development Fund, recommended modalities and processes that will lead to the creation of a pool of funds for the development of the Film Industry in Nigeria.

In the last few months government has initiated actions and is in the process of approving the take off of the proposed National Film Development Fund.

Therefore, any such existing ”Fund” with the toga ”Nigerian” intended to give the impression of a Federal Government established Agency/Project for Film matters (Funds) in particular, is fraudulent and unacceptable.

The public, therefore, is to note the above, and refrain, desist and report any such ”Funds” – intended to mislead the public and would be investors in the National Film Development Fund for the Nigerian Film Industry when established.

The investing public is further urged to note that the Nigerian Film Fund (HiFiFu) promoted by Messers Ken Otukoya, Berend Rah and Dele Ajakaiye does not have the endorsement of the Federal Government of Nigeria, the Federal Ministry of Information and Communications and relevant government parastatals, particularly the Nigerian Film Corporation, and are therefore urged not to subscribe to the fund in the erroneous believe that it is an initiative of the Federal Government of Nigeria.