Heritage Bank has announced its partnership with the Performing Musicians Employers Association of Nigeria (PMAN) for the launch of a Biometrics Card Scheme for members of the music body.
The PMAN Biometrics Card Scheme, a flagship multi-purpose identity card project which was initiated to re-validate the association’s eminent status in the nation’s entertainment industry, is conceived as a starting point of an all-inclusive scheme to ensure significant levels of protection for Nigerian musicians’ commercial rights.
PMAN President, Pretty Okafor, explained that the scheme is a product of a comprehensive assessment of the nation’s entertainment business landscape which shows that Nigerian musicians and their colleagues in the entertainment sector have been earning far below the commercial value of their works due to a variety of factors such as poor infrastructure and weak institutional and policy environment.
According to him, the scheme would make it possible for PMAN to develop a sound database of genuine practitioners in the nation’s music business sector, thereby strengthening the anti-piracy campaign.
Additionally, the card would serve as a debit ATM Card as well as avail members a CUG (Close User Group) platform to call their music business associates for a fixed monthly flat rate using the network service provider that is also partnering with PMAN in the Scheme.
Heritage Bank’s Group Head of e-bank, Tobe Nnadozie, said the bank’s decision to be part of the PMAN Biometrics Card Scheme is informed by its unwavering commitment to wealth creation, preservation and transfer in the entertainment sector.
“The entertainment sector has been identified as one of the biggest economic blocs in the country with potential to contribute hugely to the development of the national economy. Sadly, entertainment practitioners are being hampered from enjoying large chunks of what they deserve as income from their creative investments. As a bank that is wholly committed to the mantra of wealth creation and preservation, Heritage Bank is more than ready and willing to partner PMAN in the task of sanitizing the environment so that entertainment practitioners can really flourish”.
Nnadozie revealed that the bank has, over the last 18 months, midwived nearly USD100Million in funding for a variety of transactions in the entertainment industry, adding that it would continue to explore ways of assisting the sector to achieve further qualitative growth.