Filmmaker Kunle Afolayan has dismissed reports alleging that he is embroiled in a ₦5 billion loan dispute with FirstBank over the financing of his 2022 blockbuster, “Aníkúlápó”, describing the claims as entirely false.
Afolayan reacted to the reports in a video shared on Friday, insisting that neither he nor his production company owes ₦5 billion to any financial institution and that there is no court case involving FirstBank.
Addressing the rumours, the filmmaker said the publication had generated unnecessary concern among his family, friends and supporters.
“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.
He jokingly added that he would gladly accept such a loan facility if any bank was willing to provide it.
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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,” he said.
The award-winning filmmaker explained that “Aníkúlápó” was produced through a straightforward co-production agreement between his company, Golden Effects Pictures, and Netflix, stressing that the arrangement did not leave any outstanding financial obligations.
“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 dismissed claims that FirstBank had instituted legal proceedings against him, describing the bank as a longstanding partner with whom he maintains a cordial 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.
Although he suggested that he knew those responsible for circulating the allegations, the filmmaker declined to reveal their identities.
“The people behind this are my gurus, so that’s all I’ll say,” he added.
He expressed appreciation to fans, colleagues and well-wishers who contacted him following the circulation of the reports, reiterating that the allegations were baseless.
“Thanks to everyone who has been sharing the links and the messages. We’re not owing anybody ₦5 billion. Thank you,” he said.
The rumours, which gained traction on social media, particularly on X, alleged that Afolayan had obtained a ₦5 billion loan from FirstBank to finance “Aníkúlápó” and was subsequently served court papers after allegedly defaulting on repayment.
According to the unverified claims, the filmmaker secured the facility under an agreement to repay it within three years but allegedly repaid only part of the loan after Netflix acquired the film, prompting the bank to commence legal action.
Afolayan, however, has categorically denied the allegations, insisting that there is no loan dispute, no outstanding debt and no litigation involving either himself or his production company.
