PRESS RELEASE NIGERIAN FILM FUND Ltd 2nd Floor 145-157 St. John Street, London EC1V 4PY United Kingdom RE: DISCLAIMER AND UNWARRANTED DISPARAGE Our attention has been drawn to a disclaimer said to have been issued by the Nigerian Film Corporation. And published in Nigerian newspapers concerning the establishment of our Nigerian Film Fund. We notice that the emphasis of the complaint was the use of the word, "NIGERIAN" We need to state categorically as follows; · The Nigeria Film Fund is registered in the UK with Reg. number 06707434 by well-meaning Nigerians based in the UK & USA. · That prior to the registration, the promoters conducted a name availability search and the name used was confirmed available. · We do not have any reason to believe that the use of the generic term 'Nigerian' is the exclusive reserve of the Nigerian government. It is our understanding that the use of this entirely generic term predominantly relates to a person's or group's affiliation to the Nigerian culture, heritage or origin. · Therefore our main focus is, and remains, the Diaspora only, and we have no intention to engage in conflict or rivalry with the Nigerian Film Corporation's activities in Nigeria. · That ours is an entirely private sector initiative designed to fund and facilitate world class movie film production here in the Diaspora using talented Nigerian actors and projecting positive image of the people of Nigeria. · That our members are hard working and credible professionals who have made their mark in various spheres of the industry, and not faceless frauds as the publication has attempted to portray us. · That rather than embark upon a smear campaign as they have done the N.F.C should have examined areas of interface with us for the purpose of benefiting at least from our technical expertise. · That the N.F.C are better advised to do a soul searching and determine whether and how far they have impacted the welfare and competency and quality of the industry practitioners in Nigeria, their area of operation, rather than cast aspersions on well-meaning Nigerians in Diaspora. · The Disclaimer issued is reckless and vicious, and has injured our reputation as it is capable of creating wrong impression about us in the minds of members of the public and we have passed the same over to our Solicitors. When we set up the Nigerian Film Fund we recognised the need for reliable film funding and the benefits that professional production standards can bring about. The Nigerian government has set up its own film fund but we believe strongly that private sector funding has its own Additional advantages. The Nigerian film fund has a strong commercial orientation which is poised to create excitement among both private and professional investors looking to invest in the film industry.Structured film finance within the private sector is as yet largely untapped in Nigeria but would free Film makers from the constraints of underfunding and an uncertain project future and allow them to focus on making better films. However, Nigerians films will better be able to compete in an international market if productions standards are sufficiently raised. We believe talent in Nigeria cannot just rival their European and American counterparts but offer a unique African perspective on life unseen before in the mass media and the film industry. The Nigerian Film Fund will tap into this talent and combined with good productions standards and the appropriate level of marketing bring this talent to film audiences in Nigeria and across the world. While awaiting the advice from our solicitors we hereby caution the N.F.C against further dissemination of such manner of injurious statements. Ken Smart Otukoya Board of Directors of Nigerian Film Fund Ltd.