Basketmouth Exposes Nollywood Producers Who Embezzle Streaming Platform Investment Funds (VIDEO)

Renowned Nigerian comedian and filmmaker, Basketmouth, has made a shocking revelation about the mismanagement of funds by Nollywood producers. In an interview on AriseTV, Basketmouth alleged that producers use only 10 percent of the monies invested by streaming platforms to produce movies.

“There was a lot of money when these streaming platforms came in and these producers use only 10 percent of the monies to make the movies,” Basketmouth said. “More than 70 percent of these producers, to the extent that the streaming platforms had to pay the actors directly, but some of the producers coerce the actors to give up the monies.”

Basketmouth’s allegations have sparked outrage in the Nollywood industry, with many calling for greater transparency and accountability in the management of funds. The comedian’s comments also highlight the long-standing issue of corruption and mismanagement in the Nigerian film industry.

While Basketmouth refused to mention names, his comments suggest that the problem of mismanagement is widespread in the industry. “They know themselves, but I won’t mention names,” he said.

The allegations come at a time when Nollywood is experiencing a surge in growth and investment, thanks in part to the rise of streaming platforms. However, the industry’s growth is being threatened by issues of corruption, piracy, and mismanagement.

Basketmouth’s comments have sparked a heated debate in the industry, with many calling for greater transparency and accountability in the management of funds.