PMAN plans to support upcoming musicians with loans  

Pretty Okafor, National President of the Performing Musicians Association of Nigeria, has disclosed plans to provide upcoming musicians with loans to support their careers.
Okafor told the News Agency of Nigeria on Friday that the idea was informed by the several complaints from musicians about the commercial banks denying them loans.
According to him, this would get them busy with work, while keeping them off the streets.
He said: “Plans are huge for the year.
“There’s a programme we’ve been able to initiate, where every registered member of the union can go to the bank and submit their intellectual property.
“Their collateral is what is in their heads.
“Their intellectual property is what they’re going to be banking on for the loans.
“Before now, Intellectual properties were not recognised in Nigeria.
“We are going to start now.
“A singer can wake up in any state he finds himself and submit his intellectual property as collateral for the loan.”
Okafor explained that musicians got discouraged because whenever they approached a bank for loan, the bank would ask them for huge collateral.
He said: “How will they bring collateral when they don’t even have food to eat and their parents don’t even have property?
“Only registered members can access the loans.
“A musician can walk up to the bank and get a loan and submit his intellectual property as collateral.
“The loan is going to be like a grant.
“We are doing this so that our musicians don’t litter the streets anymore.”
Okafor said his regime was introducing the new generation and now have a uniform system where musicians can enjoy welfare and other working structures.
He said: “We’ve been able to harmonise the states.
“So we are moving to actualise our plans.
“Musicians are going to have welfare, with health insurance, pension plan and much more.
“In the past four years, we have been here pushing the industry forward, running the association and some people have been trying to form a faction.
“In my tenure, young musicians are coming for meetings, coming together to run the association.
“People in my executive are Sunny Neji, Rugged Man, Tu face, MI, Zacky Azzay, Asa Gangali and Terry G.
“This has never happened before.
“We are working hard to re-orientate upcoming musicians.”