EFCC advises film makers to conduct due diligence on funding sources

The Economic and Financial Crimes Commission has appealed to filmmakers to conduct due diligence before accepting funding for movie production.

The chairman of the Commission, Olanipekun Olukayode, stated this at the National Film and Video Censors Board Round Table Forum with film producers, exhibitors, and distributors, tagged: ‘Morality and Ethics in Film Production in Nigeria’ at the second edition of the Lagos International Film and Cinema Convention.

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The chairman, who was represented 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 couriers for illicit funds.”

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Oyewole, who is also a deputy commander in the commission said further, “There is a 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 (NFVCB), Husseini Shaibu collaborated on the claim by the EFCC.

Husseini said, “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.”