REVEALED: The Real Reasons Why Wizkid Left EME To Float StarBoy Records

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.