Renowned filmmaker Kunle Afolayan has flatly denied viral reports alleging that he is facing a court case over an unpaid ₦5 billion loan from FirstBank, describing the claims as entirely false.
Rumors had circulated widely on social media, particularly on X (formerly Twitter), claiming that Afolayan secured the massive facility to finance his hit 2022 movie Aníkúlápó. The posts alleged that he defaulted on the three-year repayment agreement after Netflix acquired the film, forcing the bank to institute legal action.
Reacting to the speculation in a video shared on Friday, July 17, 2026, the Golden Effects Pictures boss assured fans, friends, and family that there is no litigation whatsoever.
“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,” Afolayan joked. “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.”
Afolayan clarified the financial structure behind Aníkúlápó, emphasizing that the project did not rely on heavy commercial bank debt.
The movie was a direct, transparent co-production between Golden Effects Pictures and global streaming giant Netflix.
The filmmaker stated that the deal was entirely clean and that no money is owed to any third party.
Dismissing any friction with the financial institution, Afolayan maintained that his production company enjoys an excellent working relationship with the tier-1 bank.
“There is no litigation,” he affirmed. “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.”
While the director hinted that he knew the individuals responsible for orchestrating the false rumors, calling them his “gurus,” he declined to mention any names publicly. He concluded by thanking his supporters for flagging the fake news and reiterated that his business remains debt-free.
