Award-winning filmmaker Kunle Afolayan has dismissed reports claiming he owes FirstBank N5 billion, describing the allegation as completely false.
The response followed a viral report that alleged Afolayan borrowed N5 billion from FirstBank in 2022 to finance his hit movie Anikulapo.
The report also claimed that only half of the loan was repaid after Netflix acquired the film and that the bank had obtained a court order against him.
However, the filmmaker has strongly rejected the claims. He insisted that the story was fabricated and urged the public not to believe the circulating reports.
Speaking in a video posted on his Instagram page, Afolayan said he rarely responds to rumours. However, he decided to address the issue because of the concerns raised by family members, friends and supporters.
He said, “Good day, everyone. I try not to, like, do this, but I think for whatever it’s worth, and also for those who are, you know, well-wishers and friends, family, who are really worried about the publication and this nonsense they are spreading around, saying we’re owing 5 billion.”
Furthermore, he jokingly dismissed the allegation while stressing that no such loan exists.
According to him, “I really wish, please, if I see a bank that will give me 5 million, I definitely will take it because I will use it for the betterment of the country. But the honest truth is there’s nothing of such.”
The filmmaker also addressed claims linking the alleged loan to Anikulapo, one of his most successful productions.
He explained that the movie was produced through a partnership between Golden Effects Pictures and Netflix.
Moreover, he maintained that the agreement was transparent from the beginning.
According to Afolayan, “One, Anikulapo, even from the film, you know, was a co-production between Golden Effects and Netflix, and it was a clear, straightforward deal, and no money is owed, no money is owed to anyone.”
He further questioned why such reports continued to circulate despite having no factual basis.
In addition, the filmmaker denied claims that legal proceedings had been started against him.
He insisted that his relationship with FirstBank remains cordial.
According to him, “So without prolonging the matter, there’s no litigation. 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 also thanked supporters who reached out after seeing the report online.
Meanwhile, Afolayan reinforced his position in the caption accompanying the video.
He wrote, “We are not owing Firstbank or any bank at all N5 billion. Thank you to everybody who reached out and to everyone in their comment sections defending our reputation.”
The report further claimed that the bank had obtained a court order over the alleged outstanding debt.
However, no official court documents or statement from FirstBank were presented alongside the allegation.
Meanwhile, Anikulapo remains one of Nigeria’s biggest streaming successes. The film premiered on Netflix on September 30, 2022.
It became Netflix’s number one non-English film worldwide within 11 days.
Furthermore, it received 16 nominations at the 2023 Africa Magic Viewers’ Choice Awards.
The story later expanded into Anikulapo: Rise of the Spectre in 2024. In addition, another mini-series titled Anikulapo: The Ghoul Awakens premiered on Netflix in January 2026.
