Afreximbank’s $2bn fund bets on ’77: The Festac Conspiracy’

By Omeiza Ajayi

LAGOS: The African Export-Import Bank (Afreximbank) has staked money on a Nigerian film, with its $2 billion fund’s commercial subsidiary, Canex Creations Incorporated CCI, signing a landmark agreement to back “77: The Festac Conspiracy”.

Executive Producer of the film and Chairman of the board of Adonis Production, Prince Tonye T. J. T Princewill, signed the deal for the production house at the ongoing 2026 Canex Weekend in Lagos.

The sequel to the much acclaimed “76”, which is still showing on Netflix, goes behind the scenes to give audiences what CCI’s Chief Executive Officer, Osahon Akpata, described as “a film Africa can be proud of”.

Akpata pledged his team’s full support to the project. He also urged other filmmakers to emulate Adonis Production in aiming for excellence.

Princewill thanked the CCI team for their show of faith in investing in the film and promised to give them reason to do more investments like it.

The signing took place at the Banquet Hall of the National Theatre. The signatories were joined on stage by the Executive Vice President of Afreximbank, Mrs Kanayo Awani, who also doubles as Chair of the CCI board.

“77: The Festac Conspiracy” is due in cinemas in early 2027. Adonis Production focuses on true stories because Africa has so much truth to tell. Reality is stranger than fiction. This building, our Festac village were both inspired by that Festival of Arts and Culture and I feel honoured that 50 years later, we will get to be celebrating it with our film,” Princewill said.