Home Entertainment True Story Behind Wizkid & Banky’s Split

True Story Behind Wizkid & Banky’s Split

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Facts have begun to emerge regarding the real story
behind Wizkid and Banky is fallout. The reason is connected 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… 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.
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Adebayo Folorunsho-Francis is a communicator, Journalist, blogger, business coach and, of course, a prolific writer. He has Dip (Journalism) and B.A. (History & International Relations) from the Lagos State University (LASU). The self-effacing young man has worked for national, regional and local newspapers. He had worked with THISDAY covered community news for ISLAND NEWS and corresponded with P.M. NEWS (evening tabloid). Presently, he is the editor of CITYPULSE MEDIA and senior correspondent of PHARMANEWS, West Africa foremost health and pharmaceutical journal.

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