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Nollywood filmmaker Kunle Afolayan has denied reports alleging that he owes FirstBank N5 billion, describing the claims as completely false and without any factual basis.
The award-winning producer addressed the rumours in a video shared on his social media platforms, reassuring fans, business associates and supporters that there is no financial dispute between him and the bank.
He stated that reports suggesting he had defaulted on a massive loan were inaccurate and should not be taken seriously.
Afolayan explained that neither he nor any of his companies is involved in a legal battle with FirstBank. He maintained that his relationship with the financial institution remains cordial, adding that they have collaborated successfully on projects in the past and continue to enjoy a positive working relationship.
The filmmaker also dismissed suggestions that his acclaimed movie Anikulapo was financed through an unpaid bank loan.
According to him, the project was produced through a legitimate partnership arrangement, with all financial obligations properly handled. He insisted that no outstanding debt exists in connection with the film or any of its related productions.
Expressing disappointment over the spread of the allegations, Afolayan questioned why false stories continue to gain attention despite the absence of evidence.
He thanked the many fans, colleagues and well-wishers who contacted him after reading the reports, as well as those who defended his reputation online.
The controversy began after online reports claimed the filmmaker secured a multibillion-naira loan in 2022 to finance
Anikulapo and later failed to repay the full amount after Netflix acquired distribution rights to the film. The reports also alleged that legal action had been initiated against him.
However, Afolayan firmly rejected every aspect of the story, stressing that there is no court case, loan default or conflict involving FirstBank. He urged the public not to believe unverified reports circulated on social media and gossip platforms.
Released in 2022, Anikulapo became one of Nigeria's most successful films, earning widespread praise from audiences and critics.
The movie enjoyed global recognition on Netflix and later expanded into a successful franchise with additional series that further boosted its popularity.
Widely regarded as one of Nigeria's leading filmmakers, Afolayan has built a reputation for producing high-quality films that celebrate African history and culture.
His latest clarification appears aimed at protecting both his personal reputation and the credibility of his production company while putting an end to speculation surrounding the alleged loan.
For now, the filmmaker insists there is no financial crisis, no litigation and no debt owed to FirstBank.
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