Banky W Accused Of Turning Wizkid Into Money-Making Machine

wizkid banky w money eme

Feb 18, 2013 – Banky W Accused Of Turning Wizkid Into Money-Making Machine

According to Leadership newspaper report, 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. (Leadership Ng)

8 thoughts on “Banky W Accused Of Turning Wizkid Into Money-Making Machine

  1. they shud sit down and solve issue themself. The 50 50 wont do. They both help each other in their career. Banky w helps wizkid to finance his music career why wizkid makes banky w richer and famous. The w experience guy just have to accept the offer or he is back when. Congrat to wizkid on his new lekki house. The sky is tie starting poing 4u, goodluck to both of u

  2. I think enough is enough, though that thou make him up, fine! But thou don’t know when he’s been tryin to keep his head up. Prayer for all that “where to show what you got, that God should take you there, and that God should show me the way to ways” that’s how i spray my prayer everyday. EME is just being the way to ways for wizzy. Atleast you guys suppose try to promote his payment, i think is too late for now. Omo wa ni wizzy, Oga Nla ni o. You can join me in sayin my prayer too.

  3. I think both of them shuld be patience so dat money wil not be d separation.4 wizy pls kindly think abt d past and ask GOD directn so dat ur journey wont end of destruction.we luv u.wiz

  4. many pple wranqle vhat wiskid wont b with EME records for ever….quite true..but he shouldnt leave on a quarrelsome manner…as far as humanity is concerned..banky W copiously contributed multitudinously,humonqously nd immensely tew duh success of wiskid today…remember two other record labels rejected him b4 banky W accptd him…xo dia is a strikinq fact dat if banky W had rejected him,..a biq possibility is it that anoda record label will accpt him..lykwise d fact dat none would have accptd him….for nw,he should see banky W as d bed rock of his success aside God..ppl still portray vhat he earns 25 percent of duh whole income which is FALSE…its a 50-50 deal on which wiskid pays his first manaqer 25 percent share out of his own income…tho he later sacked the woman..turninq to banky’s side…all duh xpenses pertaininq wiskids music rests on him..makinq d task equal…wiskid askinq for a re-neqociation is beta…buh wiskid z bent on takinq a walk #Fact#…with or without a re-neqociation..bcos he finks he has acquired duh fame,money nd so on to b on his own…forqettn vhat duh qrave is duh richest place in duh world..cos it enclaves xo many ppl dat died wiv dia talent..one tin z certain here,..dose rubbn his shoulder to climb on will one day let him down…fans are qrt ppl but in a way mis-leaders…tnx

  5. Both Wizzy and Banky should sit down and iron out the issue,they should not wash their dirty linens out side in the public.

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