Filmmaker Kunle Afolayan dismisses ₦5bn loan rumors

Filmmaker Kunle Afolayan has vehemently denied circulating reports that he owes FirstBank ₦5 billion, allegedly for a loan used to finance his 2022 film, 'Aníkúlápó'. Afolayan addressed the claims in a video, dismissing them as "nonsense" and assuring his supporters that there is no litigation between him or his company, Golden Effects Pictures, and the bank.

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If I see a bank that will give me ₦5 billion, I definitely will take it because I’ll use it for the betterment of the country, but the honest truth is there’s nothing of such.

Jokingly, Afolayan mentioned he would gladly accept such a substantial loan if a bank were willing to offer it, stating he would use it for the "betterment of the country." However, he stressed the "honest truth" is that the reports are entirely false. He explained that 'Aníkúlápó' was a straightforward co-production deal between his company and Netflix, emphasizing that "no money is owed. No money is owed to anyone."

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Aníkúlápó, even from the film, was a co-production between Golden Effects and Netflix, and it was a clear, straightforward deal. No money is owed. No money is owed to anyone.

Afolayan also refuted any legal disputes with FirstBank, describing their relationship as positive. "FirstBank, we are good friends of the bank. We’ve done collaborations in the past and we’re still doing stuff, but we don’t have any issue of any sort," he stated. While suggesting he knew the individuals spreading the rumors, Afolayan declined to name them, referring to them only as "my gurus." He expressed gratitude to his supporters for their concern and reiterated that the ₦5 billion debt claim is completely untrue.

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There is no litigation. FirstBank, we are good friends of the bank. We’ve done collaborations in the past and we’re still doing stuff, but we don’t have any issue of any sort.