Read the passage below carefully and evaluate the statement that follows:
The National Film and Video Censors Board (NFVCB) was established by Decree No. 85 of 1993 as the official regulatory body for the Nigerian film and video industry. Headquartered in Abuja, the Board is statutorily empowered to license all classification centers, censor films, and register film distribution outlets throughout Nigeria. Funding for the Board's operational expenses is derived primarily from federal budgetary allocations, supplemented by licensing fees collected from registered distributors. Unlike private trade associations, the NFVCB possesses exclusive authority to ban films deemed harmful to public morals. In 2018, the Board established digital verification portals to combat unauthorized film duplication.
Statement: The National Film and Video Censors Board derives its operational funding exclusively from licensing fees collected from registered film distributors.
Answer: Answer