“Kunle Afolayan Denies Owing FirstBank ₦5bn” — Says Aníkúlápó Was Netflix Co-Production, No Loan Dispute Or Litigation

Filmmaker Kunle Afolayan has dismissed reports alleging that he owes FirstBank ₦5 billion over a loan said to have been obtained to finance his 2022 film, Aníkúlápó.

Afolayan, in a video shared on Friday, described the claim as false, insisting that neither he nor his company owes anyone ₦5 billion.

The filmmaker said he decided to respond because many of his friends, family members and well-wishers had become worried after seeing the reports online.

“I try not to do this, but for whatever it is worth, and also for those who are well-wishers, friends and family who are really worried about the publication of this nonsense they are spreading around, saying we’re owing ₦5 billion, I really wish,” he said.

Afolayan jokingly added that he would accept such a facility if any bank was willing to give it to him, saying he would use it for productive purposes.

“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,” he said.

He explained that Aníkúlápó was a clear co-production arrangement between his company, Golden Effects Pictures, and Netflix, and not a project funded through any ₦5 billion loan from FirstBank.

According to him, the deal was straightforward and no money is owed to any party.

“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,” he stated.

Afolayan also denied reports suggesting that there is any litigation between him and FirstBank.

He said he has a good relationship with the bank, adding that they had collaborated in the past and still maintained a cordial working relationship.

“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,” he said.

The filmmaker suggested that he knew those behind the report but declined to mention names.

“The people behind this are my gurus, so that’s all I’ll say,” he added.

He thanked those who reached out to him after the reports began circulating and restated that the claim was untrue.

“Thanks to everyone who has been sharing the links and the messages. We’re not owing anybody ₦5 billion. Thank you,” he said.

The denial followed social media rumours, particularly on X, claiming that Afolayan had been served court papers over an alleged ₦5 billion loan obtained from FirstBank to finance Aníkúlápó.

The posts alleged that the filmmaker secured the facility with an agreement to repay within three years, but later repaid only part of the money after Netflix acquired the film, prompting the bank to allegedly commence legal action.

Afolayan has now denied the entire claim, insisting that there is no debt, no dispute and no litigation with FirstBank.