Facts have begun to emerge regarding the real story behind Wizkid and Banky's fallout. The reason is not unconnected with the rising sensational singer being made a cash cow for the EME label.



An Insider opened up 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�s Empire Mate Entertainment.

EME is owned by Banky W and
Segun Demuren who get 50%;
and Osagie, Wizzy's ex-manager
who introduced him to Banky
after big record labels like Mo-Hits
and Storm records rejected him, also got 25% 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 his first (and last)
contract with EME late in 2009, he
saw Banky as his messiah because he was nobody in the
music industry. It was a 75-25
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 EME would
take 50% while Osagie was
taking 25%." Says an inside
source.




Wizzy sacked Osagie because she
was not ready to receive 10%,
but it doesn't end there. He was
also having problems with Osagie
who refused to come to terms
with the fact that he was no longer the boy she picked up 4
years ago and couldn't be
bossed around.



The two had a bad falling out
during which things deteriorated
to the point where they began
calling each other names. After
the fight, he sacked Osagie.

This development did not go
down well with Banky W but
because Wizzy was close to the
end of his contract with EME, he
gave in.

Osagie was replaced by
Godwin, who works for EME, and still continued too get 25%. So till
the expiration of the old contract,
75% was still going to EME, while
Wizkid made do with 25%. When Wizkid's contract expired
late last year, he wanted a
contract review requesting the
75-25 sharing formula be
reviewed to 50-50 but Banky
would not accept his proposal.



Banky wanted EME to provide a
manager who would keep taking
25%, but Wiz insisted he wanted
50%, and that he would pay his
manager out of his own pocket. 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 features stars
like Wale, Chris Brown, Tinie
Tempar and others. Another inside source also adds:


"the last time Wizkid charged
1million for a show was about 3
years ago. Before his fracas with
EME, he was charging nothing
less than three million per show, and the fee for corporate shows
was way higher. In a week, Wiz was doing at least
three shows, and raking in
nothing less than 6million naira
for EME on the average, totaling
up to about 24 million naira per
month.

During festive periods, particularly Christmas,

the
amount he raked in was about
triple that amount or more, and
he charges even more for
international shows. Then there were endorsements,
the biggest of which was the
PEPSI deal for which he was paid
a staggering sum of $365,000. Of
all these, Wizkid was only getting
25%.


" The final straw was Banky's
album launch recently. Wizkid
was not invited for the show but
he went all the same to show
solidarity for his former label
boss. Also, before the show, the contract review argument was
still on ground and Wizkid was
hoping the label would
reconsider and take his offer.


What he really wanted was 50%,
out of which he would pay his manager, bodyguard, and mopol
entourage, which he thought
was reasonable. However, during the show, Wiz
was snubbed. The label refused
to acknowledge his presence,
and with this, the relationship
with EME was severed. Wizkid is
now operating under his own label STARBOY RECORDS. So serious is the EME-Wizkid
fallout that the label is now
making people take sides.
Sources say EME members no
longer want to have anything to
do with Wizkid and anyone that has any dealings with him.
Banky W may not have given his
side of the story but insiders note
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.

Sources say that
Segun Demuren, Co-owner of EME
has vowed to deal with Wiz-kid
and make him regret ever leaving label.



With all said and done, here is
wishing both

Issokay!

Mr Banky W! You are wicked ooo....Monkey dey work Baboon dey chop....kai

This story reminds me of 2face and kennis music.
Banky should have reveiwed his contract terms. He's no longer the nobody he picked up years before.
Wizkid I pray your story ends like that of 2face.

Banky and wizzy was realy doing good is good dey come back again