Banks should accept intellectual property as collateral for loans – D’banj

Popular singer, Oladapo Oyebanjo, aka D’banj, has advocated the use of intellectual property as collateral for obtaining bank loans.

A statement issued on Friday by the singer’s manager, Damian Okoroafor, quoted the artiste as saying this in Abuja, at the inauguration of the Nigerian Export-Import Bank’s Women and Youth Export Fund platform for easy access to funds.

D’banj said, “Our creative industry is a bigger and better export than the oil industry. So, there is the need for more access to stress-free funds for those in the creative industry, using their intellectual property as collateral.

“When you look around the world, one of our biggest exports is the creative sector, thanks to our music, movies and photos.

“So, WAYEF is another opportunity to fully throw some weight behind the creative industry, through capacity training or access to funds.”

D’banj, had on March 26, rewarded five young talented Nigerians, in different fields, with one million naira each to develop themselves.

He extended the gesture through his Cream Platform, which is supported by Heritage Bank’s YNSPYRE Initiative.