Kunle Afolayan debunks ₦5bn debt claims

​Renowned Nigerian filmmaker Kunle Afolayan has firmly debunked widespread social media reports alleging that he is embroiled in a ₦5 billion litigation dispute with FirstBank. The rumours, which recently gained traction on platforms like X, claimed the filmmaker had been served court papers over an unpaid loan allegedly secured to fund the production of his 2022 hit film, Aníkúlápó.

​In a video statement released this Friday, July 17, 2026, the award-winning director characterized the allegations as entirely false and a product of misinformation. He clarified that neither he nor his production outfit, Golden Effects Pictures, is indebted to the financial institution or any other party regarding the film.

​”I try not to do this, but for the sake of well-wishers, friends, and family who are worried about the publication of this nonsense, I am clarifying that we are not owing anyone ₦5 billion,” Afolayan stated.

​He further emphasized the professional integrity of his past projects, noting that Aníkúlápó was executed as a straightforward co-production deal with Netflix, leaving no room for the alleged debt.

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​Addressing his relationship with the bank, Afolayan dismissed the existence of any legal conflict. “There is no litigation. FirstBank and I are good friends. We have done collaborations in the past and are still working together; there is no issue of any sort,” he affirmed.

​While the filmmaker acknowledged he has suspicions regarding the origin of these claims, referring to the perpetrators as “my gurus,” he declined to name them publicly. He concluded the address by expressing gratitude to his fans and supporters who reached out to verify the reports, reiterating that the narrative of a ₦5 billion lawsuit is completely unfounded.