Award-winning Nigerian filmmaker Kunle Afolayan has firmly dismissed circulating rumors claiming that he or his production company owes FirstBank or any financial institution the sum of ₦5 billion.
In a video statement shared widely on social media today, Afolayan addressed the allegations head-on.“We are not owing Firstbank or any bank at all ₦5 billion,” he declared, speaking directly to fans and followers.
The rumor, which gained traction earlier today, alleged that Afolayan borrowed approximately ₦5 billion around 2022 to fund his epic Netflix-backed project Aníkúlápó, with only partial repayment following the streaming deal.
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Some unverified reports, according to the filmmaker, even suggested impending court action. However, no credible evidence, court records, or official statements from FirstBank have surfaced to support these claims.
Afolayan, known for elevating Nollywood’s production standards with films like The Figurine, October 1, and the Aníkúlápó franchise, has never shied away from discussing the financial realities of filmmaking in Nigeria.
In previous interviews and public appearances, he has openly shared experiences of self-funding projects and securing bank loans, including a ₦50 million facility from the Bank of Industry for his 2016 film The CEO.
His successful partnership with Netflix has been widely credited with providing more sustainable funding models for high-quality African content.
As of this report, neither FirstBank nor any regulatory body has commented on the matter.
