I DON'T KNOW HOW I AM GOING TO PAY BACK MY BANK LOANS -- KUNLE AFOLAYAN { READ HERE @OGUNGBE FILMS }
– Despite the recent accolades Nollywood has been getting, it seems all is not well with the industry
– Popular filmmaker Kunle Afolayan revealed recently that he took a loan to make his latest film The CEO
– He further said he doesn’t know how he is going to pay back the loan as the film hasn’t made much money
Looking at Kunle Afolayan, one will think since he is a well-known filmmaker, all is well with the finances regarding his films right? But alas, this is not the case
He revealed in a recent interview with Linda Ikeji’s blog that not only did making his most recent film The CEO cost him several millions of Naira, he took 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
Kunle Afolayan says his latest film The CEO hasn’t made much money
He also explained how the cinemas are a very important source of recouping investment from movies.
“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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– He further said he doesn’t know how he is going to pay back the loan as the film hasn’t made much money
Looking at Kunle Afolayan, one will think since he is a well-known filmmaker, all is well with the finances regarding his films right? But alas, this is not the case
He revealed in a recent interview with Linda Ikeji’s blog that not only did making his most recent film The CEO cost him several millions of Naira, he took 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
Kunle Afolayan says his latest film The CEO hasn’t made much money
He also explained how the cinemas are a very important source of recouping investment from movies.
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