Banky W gave Wizkid the platform for his first big break in the music scene after he got rejected by trending record labels like Don Jazzy’s MoHits and Storm Records. Tickling the musical tastebuds of Nigerians with his “Superstar” album, Wizkid quickly rose to become the voice of Afrobeats, before he suddenly departed from Banky W’s EME record label.
As a young kid in Surulere, Wizkid had no money to record a song, so he often strolled into OJB Jezreel’s Silver Point Studios to sit down and watch stars like Tuface, Ruggedman, and other celebrity musicians record. Too many times, he would beg the producer, OJB Jezreel, to use the remaining time slot of these top acts to quickly record his music.
Wizkid became a studio rat, constantly frequenting OJB Jezreel’s studio from school to clean, hang around, and look for free opportunities to record his music. He would often ask OJB to let him record a song, but for a year, the producer insisted that the young Wizkid just watch and learn from the studio recordings of other top artistes.
At 17, Wizkid finally met a talent manager, Osagie Osarenkhoe, who arranged opening acts to perform at the concerts of established artistes. She asked Wizkid to hop on stage, and Wizkid performed a song he made that was produced by OJB Jezreel.
Osagie admitted that Wizkid wowed her with his swag and his stage performance which seemed like he was a 28-year-old man in the body of a 17-year-old.
In that same concert, Banky W happened to be there as he was slotted to perform. Osagie introduced him to Wizkid, and Banky W agreed to sign him into his Empire Mates Entertainment (EME) record label. The contract involved Wizkid producing five albums for the label.
EME was owned by Banky W and Segun Demuren. Wizkid’s contract saw the owners, Banky W and Segun, get 50% of his earnings, and Osagie who became his manager received 25% of his revenue, leaving Wizkid with the remaining 25% of his profits from every show.
To Wizkid, this was a 75-25 sharing formula and he didn’t mind at the time because he was just so pumped up to let the world hear his music. Wizkid quickly released his first album “Superstar” which shot him into instant limelight. He followed it up with another successful album, “Ayo,” that cemented his “most sought-after” status.
However, as Wizkid started getting up to three shows that each paid the sum of 3 million naira every week, and raking in around 24 million naira per month, he observed that he worked his back to the ground only to receive a paltry sum at the end.
Banky W and Segun Demuren made double the amount out of his sweat, and Osagie received the same amount he got from his intellectual labors. And by the way, Wizkid was no longer comfortable with Osagie bossing him around because she still saw him as the little teenager she picked up from the gutters.
Over the five-year period she managed the “Holla At Your Boy” crooner, he had grown into a man and a celebrated national icon, yet she failed to see that. Wizkid became tired of the controlling tone she used in speaking to him, and that led to a hot exchange as they called each other unutterable names before he finally sacked her.
Banky W wasn’t okay with the sack, yet he made no move to stop it because Wizkid was approaching the end of his five-album deal with EME record label. Wizkid previously wanted Osagie to take 10% of his earnings instead of 25%, but she refused. He replaced her with Godwin hoping to give him 10%, but Banky W insisted that the new manager, Godwin, gets 25% and that was final.
Wizkid’s contract came to an end, but he hadn’t completed the five albums stated in the clause as he only made two albums so far. So, he approached Banky W and requested their contract sharing formula to be reviewed to 50-50 instead of 75-25.
Explaining that he’d like to get fifty percent of his earnings, Wizkid tried persuading Banky W by highlighting that he would pay his manager, bodyguard, and entourage out of his own pocket. He thought this was reasonable, but Banky W thought otherwise and rejected his proposal.
The revenue sharing issue started creating a gulf between the signee and record label boss, as Wizkid at a point had to move out from Banky W’s Ogudu GRA residence into a rented apartment in Lekki.
Wizkid brought in the bulk of money for EME, and the management used his revenue to finance the project of other label signees like Niyola, Shaydee, and Skales who weren’t achieving as much stardom as Wiz.
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In order to quell the side talks already flying around the record label, Banky W invited Wizkid to his office and asked him what he wanted. Wizkid indicated that he was grateful to him for all the promotions and hard work he undertook to push the Wizkid brand so far and that he would like to move on to his own projects.
Not wanting an artiste to stay when he doesn’t want to, Banky said that Wizkid was free to go and EME would release him, but he should complete the five-album contract he had with the label, as he had only released two albums.
Wizkid was unwilling to do the backbreaking work of creating three more albums, just to get 25% percent of his earnings. His dillydallying created a silent rift with Banky W who was all about business.
What broke the camel’s back was when Banky W did his album launch without inviting his biggest music signee, Wizkid. Out of loyalty to his boss, Wizkid showed up at the event with his girlfriend, Tania Omotayo.
To his embarrassment, however, Banky W snubbed Wizkid as though he wasn’t there. There was no acknowledgment of his person, which made his girlfriend squirm in her seat with pure embarrassment, with Wizkid bowing his head in shame.
This was it. It dawned on Wizkid that he had no place there anymore, so he left the record label unceremoniously.
When he left, Banky W refused to give him the 25% that was due to him. He made Wizkid leave with zero naira in his name. Having nowhere to sleep and a rent that was almost expired, Wizkid was on the verge of being homeless, even though he was a star.
He was about to be thrown into the street and crawl back to his father’s house in shame, if not for Wande Coal who had compassion on him and took him into his home. Wande Coal provided free food for him and took Wizkid like a little brother, and that’s why Wizkid still looks up to Wande Coal to this day.
After settling for a while in Wande Coal’s home, Wizkid approached UBA to get a loan that would kickstart his career. Completely strapped for cash, he used his proven star power as collateral and Tony Elumelu seemed in agreement, as he approved the loan.
The rest was history as the music Wizkid made overthrew every other African artiste, and he made his steady rise as a boy driven out with nothing to the King of Afrobeat whom all other musicians aimed to sound like.
To date, Wizkid sees Wande Coal as a big brother, ignores Banky W as his boss, and calls Tony Elumelu his mentor.
