The Nigerian Copyright Commission has called on the Central Bank of Nigeria, banks, and other financial institutions to collateralise intellectual property.

The Director General of the commission, John Asien, stated this on Monday in Abuja in commemoration of the World Intellectual Property Day with the theme, ‘IP and SMEs: Taking your ideas to Market.’

He stated that collateralising IP works would help the creative industry and talents to get value for their hard work.

Mr Asien added that financial institutions embracing the collateralisation of IP would support SMEs in the creative sector and enhance their contribution to the nation’s gross domestic product.

According to him, creating the right ambience will also help showcase the nation’s talents to the world in music and movies.

He stated, “We need to grow SMEs, encourage their works, protect and make their works assets bankable.

“Nigerian Copyright Commission owes the creative industry a duty to ensure and provide a safe corridor for the ideas to be good, nurtured, and taken to the market.

“In providing those safe corridors, we must also encourage them to use the facilities under the copyright system and exploit the licensing regime.”

He noted further that the commission would find a solution to any form of copyright to ensure that owners got the facilities needed to enable them to create, grow ideas, and “exploit their ideas to compete favourably in the marketplace.”

(NAN)