“Where Is The Billion?” — Olaiya Igwe Challenges Funke Akindele Over Box Office Earnings

The glitz and glamour of Nollywood’s “Billion Naira Club” has been met with a cold splash of reality as veteran actor Ebun Oloyede, popularly known as Olaiya Igwe, publicly challenged the financial narrative surrounding the industry’s biggest hits.

​In a stirring address that has since sent shockwaves through the Yoruba film sector, the veteran thespian specifically called out the record-breaking success of Funke Akindele, questioning how much of the celebrated billions actually makes it into the filmmaker’s pocket.

​While the nation stood still to celebrate Akindele’s historic feat as the first filmmaker to cross the N1 billion mark at the Nigerian box office, Olaiya Igwe suggests the celebration might be premature—or at least, mathematically misleading.

​”Even the President congratulated Funke when she hit a billion,” Olaiya noted, acknowledging the massive publicity the milestone received. “But please ask Funke, did she see even 50% of that money?”

​His comments suggest a massive disconnect between the “gross earnings” reported by cinema aggregators and the “net profit” that eventually reaches the producer.

​Olaiya Igwe painted a grim picture of the modern distribution system, alleging that cinema houses and distributors prioritize their own operational costs over the creative minds behind the projects. According to him, the “Billion Naira” figure is heavily bled by overheads before the filmmaker is settled.

​”They would deduct money for popcorn, they’d deduct money for fuel, and even money for electricity,” he lamented. “They’d deduct all sorts of things before they give the movie owner the remaining.”

​The veteran actor warned that the current system creates a “mirage of wealth” where filmmakers are forced to maintain a high-status image that their actual bank balances may not support. He argued that the era of cinema pioneers like Hubert Ogunde and Adebayo Salami (Oga Bello) offered more financial security because filmmakers had direct control over their revenue.

​”You’d just be using that money to take photos; it is not your own,” Olaiya warned, suggesting that the industry’s obsession with “Box Office” records is creating a generation of “celebrity paupers” who look rich on Instagram but struggle behind the scenes.

​Directing his gaze toward Femi Adebayo, whose epic Jagun Jagun also faced the complexities of cinema and streaming distributions, Olaiya Igwe urged a return to more traditional, producer-centric models of business. He believes that unless Nollywood re-evaluates its relationship with distributors, the “Billion Naira” tag will remain a decorative title rather than a sustainable business achievement.

​”If we go back to the way we were doing things before, we’d be successful and become important people. We won’t have to suffer anymore,” he concluded.