Information according to Leadership Newspaper: Facts have begun to emerge regarding the real story behind Wizkid and
Banky is fallout. The reason is not unconnected with the rising
sensational singer being made a cash cow for the EME label. An Insider
opened up to Entertainment Rendezvous that Wizzy (his nickname) is at
war with Banky W and EME because he wants a contract review which Banky W
has refused to grant him.
The source pointed out that since
Ayodeji Balogun known as Wizkid signed with EME, he has been getting
just 25% from whatever he gets paid to perform at an event with Banky W.
Empire Mate Entertainment EME is owned by Banky W and Segun Demuren and
Segun and Osagie, Wizzy’s ex-manager who introduced him to Banky after
big record labels like Mo-Hits and Storm records rejected him, also gets
25% each from his hard earned money.
“It is true they are
having problems and this might just be the end of EME and Wizkid. When
Wizzy signed a 2-year contract with EME late in 2009, he saw Banky as
his messiah because he was nobody in the music industry. It was a 50-50
sharing formula.
Then Wizkid didn’t mind because he was bent on
building his musical career. In his contract, Banky W promised to take
care of his accommodation, feeding and also his school and based on this
fact, Wizkid accepted all the terms of agreement. Later, Wizzy sacked
his manager, Osagie replacing her with Godwin because he felt she was
getting too much. Wizkid was getting just 25% from every show because
Banky W would take 50% while Osagie was taking 25%.
Wizzy sacked
Osagie because she was not ready to receive 10% which other management
companies were taking from artistes. This development obviously did not
go down well with Banky W but because Wizzy was close to the end of his
contract with EME, Banky gave in. When Wizkid’s contract expired late
last year, he wanted a contract review requesting the 50-50 sharing
formula to be reviewed to 70-30 but Banky would not accept his proposal.
This
issue had been dragging since September 2012 and that could have
explained why Wizkid moved out of Banky’s Ogudu GRA residence and got a
new apartment in Lekki. What got Wizzy miffed was that he was making all
the money for EME and was getting less. Also, the money being made was
being used to finance the project of other EME stars namely, Niyola,
Skales and Shaydee.”
Apparently Wizkid’s international fame gave
him more confidence to stand out on his own. Riding on this platform,
he signed a management deal with Disturbing London, an international
management company. Right now, his second Album is ready and it is with
Banky W. Wizzy is bent on leaving if they don’t agree with his terms and
float his own label STARBOI Records.
Banky W may not have given
their side of the story but insiders noted that Banky has spent a lot
to make Wizkid who he is now. He feels Wizkid is not grateful and has
forgotten where he was coming from.