Afreximbank Backs Movie On 1977 Festac Festival

Canex Creations Incorporated (CCI), a subsidiary of the African Export-Import Bank (Afreximbank), has signed an investment agreement with Adonis Production for the production of 77: The Festac Conspiracy, a film based on the 1977 Festival of Arts and Culture (FESTAC).

The agreement was signed during the 2026 Creative Africa Nexus (CANEX) Weekend in Lagos by the film’s executive producer, Prince Tonye T. J. T. Princewill, who is also Chairman of the Board of Adonis Production, and representatives of CCI.

The film is a sequel to 76, which is currently streaming on Netflix, and explores events surrounding the 1977 FESTAC, held in Lagos to celebrate African arts and culture.

Speaking at the signing ceremony, CCI Chief Executive Officer, Osahon Akpata, said the organisation was supporting the project as part of its involvement in the development of Africa’s creative industry.

Princewill said the investment reflected confidence in the film’s subject, noting that the FESTAC legacy remained an important part of Nigeria’s cultural history.

“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 be celebrating it with our film,” he said.

The signing ceremony, held at the Banquet Hall of the National Theatre, was witnessed by Afreximbank Executive Vice-President, Mrs Kanayo Awani, who is also Chair of the CCI board.