The project is being funded through the Creative Industry Funds Initiative (CIFI) of the Bankers' Committee. The CBN and the bank CEOs had set up the Creative Industries and Financing Initiative through which banks set aside, on an annual basis, five percent of their profit after tax (PAT). "This facility will be a convenor – providing space, support network, business development and community engagement for the creative, cultural and technology sectors. "The Signature Cluster will consist of a building each for music, film, fashion and information technology verticals. In addition to these, a welcome/visitor's centre, police and fire stations and structured parking for up to 500 vehicles will be built, "CBN Governor, Mr. Godwin Emefiele explained. Emefiele stated that the 44-hectare site adjourning the National Theatre would be developed and utilised for the development of purpose-built creative hubs for the music, film, fashion and information technology.