‘The Black Book’: Back Story of Nigeria’s Film Funding and Investment Revolution

Ololade Adeyanju/

As Editi Effiong’s cinematic masterpiece, ‘The Black Book,’ rose to unprecedented heights on the global stage, becoming the first-ever Nollywood film to claim the number one spot on Netflix worldwide, one of the film’s executive producers and SEC-licensed fund manager, Adesubomi Plumptre, shares the story of how the blockbuster movie has redefined African middle-class wealth creation.

In a post on X, formerly Twitter, Plumptre writes, “TheBlackBook is now Number 1 globally on Netflix. It’s at the top of the charts in Nigeria, USA, South Korea and a significant number of other countries.

“I was an executive producer for this Nollywood movie, but few people know its financial backstory.

“The largest backer of the film was an innocuous Investment Club called Vizient Coop, the brainchild of a SEC-licensed asset management company that I co-founded with Kola Oyeneyin.

“Our investment in The Black Book would become the first private equity movie deal led by an investment club. Now here’s the real story.

“The members of our investment club are everyday middle-class professionals. I like to use UKAid’s definition of this group – working individuals who have disposable income to invest.

“By coming together as a community, our members participated in a deal they would ordinarily be precluded from as individuals.

“I am happy to say that even though they invested in their local currency, they exited in USD, overcoming currency risk and enjoying dollar gains.

“The mission of our investment club is simple. We are helping middle-class Africans and Diasporans accelerate wealth creation through alternative investments.

“You see, traditional asset classes alone won’t help the middle-class to close wealth gaps or attain generational wealth. Here’s why.

The financial odds are typically in favour of large capital. Watch the movie on GameStop – ‘Dumb Money’ – to understand.

“Financial literacy is a problem among people of black descent. Without a foundation of knowledge, it’s hard to know where and how to invest, or even the questions to ask a financial advisor.

“Risk is directly proportional to profit. Many retail investors are risk averse, and regulators are right to exclude them from risky assets with higher profit margins. The way to overcome this is by becoming a knowledgeable investor or by joining an accredited syndicate.

“By putting a SEC-licensed fund manager in the middle of our investment club, we dimension each investor’s risk profile and then suggest investments that are appropriate for them.

“We created our own AI-powered and African-themed investor profiler to do so.

“We crashed the cost of professional fund management and legal due diligence, as each club member only pays a fraction of the cost borne by the club as a whole.

“Because we are a large syndicate, we have a seat at the global investment table. With our negotiation power, we demand for better terms for our club members.

“The future of African middle-class wealth is alternative investments, and not traditional instruments.”

The film’s storyline revolves around the relentless quest for justice by Paul Edema, a former mercenary portrayed by Nollywood icon Richard Mofe Damijo (RMD). The movie delves deep into themes of redemption, and the haunting specter of the past.

What truly sets the movie apart is its ensemble cast, which showcases the immense talent that Nollywood possesses. Veterans like Sam Dede, Alex Usifo, Patrick Doyle, Shaffy Bello, Ireti Doyle and Taiwo Ajayi-Lycett deliver performances that not only elevate the film but also reinforce Nollywood’s position as a cinematic powerhouse.

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