Popular Filmmaker, Kunle Afolayan Cries Out Over Huge Debts He Owes Bank Of Industry
Popular Filmmaker, Kunle Afolayan Cries Out Over Huge Debts He Owes Bank Of Industry
Popular filmmaker, Kunle Afolayan in a chat with LIB, revealed that his recent film The CEO cost him several millions of Naira, in which he had to take a bank loan from The Bank of Industry and since he hasn’t recouped the money, he doesn’t know how he is going to pay back.
“It costs a fortune; we are talking hundreds of millions of naira. We haven’t recouped the money and am not sure I will recoup that money ‘cos now the economy is bad and I have said this several times and there is really no point saying it again; but part of the funding for CEO, we got from Bank OF Industry (BOI) and that money needs to be paid back, I think I even have about maybe eight months left to pay back and it’s a bit scary, because I don’t know how I am going to pay it. But I want to believe that somehow, it will get paid.”
Explaining how the cinemas can help ease his debts, Kunle said;
“The success of a film is not determined by the number of publicity given to it, or on whether the film is great or not, no; a lot of the factor boils on, how the film is been presented, by the cinemas.
For instance, if a film is so good and in a day, they give it four (4) slots showing in the cinema; if the first slot showing is 10: am, 12noon, 2: pm and 4: pm; that film will not make money. But if the film gets three (3) slots and the 3slots are; 5: pm, 7: pm and 9: pm, then the film will make more money. So a lot of times the fate of an average film is determined by how the cinema positions the film.”
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