Okunnu Hits Back at Olasco Over 16-Year Debt

Nollywood Veteran Okunnu and Marketer Olasco Films Engage in Public Dispute Over 16-Year-Old Debt

A longstanding financial dispute between veteran Nollywood actor Wale Akorede, popularly known as Okunnu, and film marketer Olasco Films has erupted into a public accusations exchange, spotlighting persistent payment issues within Nigeria’s film industry.

The conflict centers on the 2008 production of a film, which Okunnu claims he produced and directed for Olasco Films. According to the actor, he never received his agreed-upon share of the film’s profits, leading to a 16-year period he describes as silent endurance. The issue was recently brought to public attention when Okunnu directly accused the marketer of owing him money.

In response, a representative of Olasco Films, in an interview with journalist Tunde Ola-Yusuf, rebutted the claims and labeled Okunnu an “ingrate.” The marketer’s side stated that Okunnu was provided with ₦2 million to produce the film, implying the debt was settled. This characterization prompted a sharp rebuttal from the actor.

Reacting publicly beneath the interview on Instagram, Okunnu intensified the dispute. He directly addressed Olasco Films, stating, “I’m still coming for you in a BIG way. My silence for 16 years is coming soon.” The comment signals his intent to make further disclosures, effectively ending his prolonged public silence on the matter.

This public feud underscores a chronic challenge within Nollywood: equitable compensation and transparent financial practices between creatives and distributors or marketers. Disputes over profit sharing, upfront payments, and accounting are frequently cited by industry professionals as sources of conflict. Okunnu’s case is notable for the extended duration before his public airing of grievances.

The significance of the dispute extends beyond a personal conflict. It highlights the need for clearer contractual agreements and financial accountability in film productions. For now, the matter remains a war of words in the public domain, with Okunnu promising imminent revelations. The next steps may involve formal legal action or further public statements from both parties as the industry watches closely.