Filmmaker Debunks Rumours of Owing Debt To Bank

 

Making the rounds is a speculation that a renowned Nollywood filmmaker is heavily indebted to a financial institution in his country, Nigeria, and a court case has been filed against him. 

Kunle Afolayan is the filmmaker in the mix, and rumours have it that he owes First Bank of Nigeria a whopping $3.67 million (#5 billion), a loan offered to him for the production of his blockbuster film, Anikulapo. He has come out to debunk the rumour and promised to go after the rumour peddlers.

"I try not to overdo this, but I think that for whatever it is worth and for friends and well-wishers who are really worried about the publication (rumour) they are spreading around," he said in an Instagram video.

He went further, reminding his audience that the film was made in collaboration with Netflix against claims that the digital streaming platform purchased the movie after he was already in debt. He also clarified that Golden Effects Pictures was part of the production. 

"The honest truth is there is nothing of such. One, Anikulapo, is a co-production between Golden Effects and Netflix. It was a clear, straightforward deal. No money is owed, no money is owed to anyone. Without prolonging the matter, there is no litigation [between me and the bank]. We are not owing anybody #5 billion."

Midway this week, rumours surfaced online that the filmmaker owes First Bank. He was rumoured to have managed to resolve half of the amount owed. However, the remaining amount remained unpaid, despite Netflix's investment in the film, and the bank's patience is running dry.

Anikupa was a highly successful film on Netflix. It garnered 8.5 million views in its first week, and it became the most watched non-English film globally. In 2023, it received five African Movie Academy Awards (AMAA) and five Africa Magic Viewers' Choice Awards.