LAPO makes in-road into creative industry, collaborates TGMA on film funding

As the creative industry continues to expand and enjoy renewed global attention, LAPO Microfinance Bank is positioning itself to play a more active role in the sector’s financing landscape. This direction became clearer when the financial institution hosted the leadership of the Golden Movie Ambassadors of Nigeria (TGMA) in Lagos to explore collaborative opportunities.

The visit, led by TGMA President Saidi Balogun, focused on identifying new funding pathways for filmmakers who often battle with limited access to structured loans and institutional financial support.

Balogun explained that TGMA embarked on the engagement to ensure filmmakers can secure the kind of financing needed to produce globally competitive content without the burden of relying solely on personal or informal sources.

He noted that Nollywood’s global recognition has not matched its access to funding, stressing that many creative projects struggle to reach their full potential because financial institutions have yet to tap deeply into the industry’s value.

The TGMA president expressed optimism that LAPO’s interest could mark a turning point for film financing by providing filmmakers with more predictable, transparent, and supportive financial options.

Responding, the Managing Director of LAPO Microfinance Bank, Cynthia Ikponmwosa, praised TGMA for initiating the conversation, describing the creative industry as one of the most vibrant contributors to Nigeria’s economy.

Ikponmwosa stated that LAPO is actively looking to make meaningful in-roads into the creative sector because of its growth potential, job-creating capacity, and increasing contribution to national GDP.

She noted that LAPO’s extensive experience in supporting small-scale entrepreneurs aligns well with the structure of the creative sector, which is dominated by independent producers and emerging creators.

Highlighting the bank’s long-standing support programmes, she said LAPO has consistently provided lending, financial literacy training, and advisory services that have helped thousands of small businesses build resilience.

Ikponmwosa also addressed public misconceptions about LAPO’s loan recovery methods, dismissing allegations of mistreating defaulters—including claims of locking people in toilets—as “baseless, misleading, and completely untrue.”

She emphasised that the bank operates under strict ethical guidelines and ensures that all customers are treated with dignity, adding that its procedures comply fully with regulatory standards.

Both LAPO and TGMA agreed to continue their discussions through a joint working group that will explore practical funding models tailored specifically for filmmakers, raising hopes for a new era of structured financing in Nigeria’s expanding entertainment industry.