Kunle Afolayan denies owing ₦5bn to FirstBank for Aníkúlápó

Filmmaker Kunle Afolayan has denied claims that he owes FirstBank ₦5 billion. This money was supposedly borrowed to fund his 2022 film, Aníkúlápó. Afolayan called the reports false.

In a video shared on Friday, Afolayan said there is no legal issue with the bank. He emphasized that neither he nor his company owes anyone ₦5 billion.

“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 mentioned that he would gladly accept such a loan if a bank was ready to offer it.

“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.

Afolayan clarified that Aníkúlápó was a simple co-production between his company, Golden Effects Pictures, and Netflix. He insisted that no debts are owed to anyone.

“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 said.

He also dismissed any claims of a legal battle with FirstBank.

“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 stated.

While suggesting he knows who started the rumors, Afolayan did not reveal their names.

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

He expressed gratitude to supporters who reached out about the rumors and again stated that the claims are completely false.

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

Rumors spread on social media, especially on X, suggesting that Afolayan had received court papers over an alleged ₦5 billion loan from FirstBank to finance Aníkúlápó.

The posts claimed that he secured the loan with a promise to pay it back in three years. They also said he only repaid part of the loan after Netflix took on the film, leading to the bank taking legal steps.