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ARTICLE · 11 NOVEMBER 2024

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Regulatory Update: Federal Executive Council Approves Creative Economy Development Fund And IP Monetization Pilot

Stren and Blan Partners
Stren and Blan Partners
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Stren and Blan Partners

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On 24th October, 2024, the Federal Executive Council approved the Creative Economy Development Fund (CEDF) and the implementation of the Intellectual Property (IP)...

NigeriaStrategy
Christian Aniukwu
Christian Aniukwu
Omonefe Irabor-Benson
Omonefe Irabor-Benson
Stanley Umezuruike
Stanley Umezuruike
Justina Okachi
Justina Okachi

Introduction

On 24th October, 2024, the Federal Executive Council approved the Creative Economy Development Fund (CEDF) and the implementation of the Intellectual Property (IP) Monetization Pilot, to promote the financial expansion and use of IP assets by the creative sector. The CEDF objective is to offer funding through various financial instruments such as debt, quasi-equity, equity instruments etc., enabling creators to use IP as collateral.

The Federal Ministry of Art, Culture, and the Creative Economy (FMACCE) in collaboration with Ministries of Justice, Finance, Industry, Trade and Investment (JFITI), the Federal Inland Revenue Service, the Nigerian Copyright Commission (NCC), and the African Development Bank through its Investment in Digital and Creative Enterprise (iDICE) ensured the success of establishing the Creative Economy Development Fund and implementation of the Intellectual Property Monetisation Pilot.1

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