The African Export-Import Bank has committed part of its $2 billion fund to finance the upcoming Nigerian movie “77: The Festac Conspiracy”. The agreement was signed by the bank’s commercial subsidiary, Canex Creations Incorporated, and the production house during the 2026 Canex Weekend held in Lagos, with the film expected to hit cinemas in early 2027.
Key details of the partnership include: the involvement of Prince Tonye T.J.T Princewill, Executive Producer and board chairman of Adonis Production; the presence of Afreximbank’s Executive Vice President, Mrs. Kanayo Awani, who also chairs the CCI board; and the venue, the Banquet Hall of the National Theatre in Lagos. The deal marks a significant investment in local storytelling and aims to showcase African narratives on a global stage.
"We are fully committed to supporting this project and believe it will become a film Africa can be proud of," said Osahon Akpata, Chief Executive Officer of Canex Creations Incorporated. Akpata added that the bank’s team would provide comprehensive assistance throughout production and encouraged other filmmakers to pursue similar standards of excellence.
Princewill expressed gratitude to the CCI team, stating, "Your confidence in our vision motivates us to deliver a film that justifies further investment. We intend to make a story that resonates across the continent and beyond." He highlighted that the sequel builds on the success of the original “76”, which continues to stream on Netflix.
What is the film about?
"77: The Festac Conspiracy" follows a true‑to‑life narrative set against the backdrop of Lagos’s historic Festac Village, a site originally created for the 1977 Festival of Arts and Culture. Princewill noted that the film draws inspiration from the real events and cultural legacy of the area, emphasizing that "reality is often stranger than fiction."
The production aims to celebrate the 50‑year anniversary of the original festival while delivering a compelling thriller that showcases Nigerian talent and heritage. Adonis Production has a reputation for focusing on authentic African stories, believing that the continent possesses a wealth of untold truths.
The signing ceremony, attended by industry stakeholders and government officials, underscored the growing confidence of financial institutions in the Nigerian creative sector. By backing "77: The Festac Conspiracy", Afreximbank’s fund signals a broader commitment to nurturing home‑grown content that can compete internationally.
The film is slated for a theatrical release in early 2027, with plans for subsequent distribution on streaming platforms after its cinema run.