Nigerian music executive, singer, and former EME boss Banky W has opened up about one of the most discussed topics in Afrobeats history — his contract with Wizkid and the reasons behind taking 80% of the royalties from the superstar’s first two albums, Superstar and Ayo. In a rare, detailed explanation, Banky W clarified the truth behind Wizkid’s early deal, their relationship, and why he allowed the young star to leave EME long before his contract was completed.
According to Banky W, Wizkid initially signed a five-album deal with Empire Mates Entertainment (EME). However, before completing the agreement, Wizkid expressed his desire to move on after releasing just two albums. Despite still owing three more albums, Banky W said he chose not to force him to stay.
He explained:
“Wizkid’s contract with EME was a 5-album deal and he had done just 2 when he wanted to leave. He still owed me 3 albums, but I told him there was no reason for us to try and tie him down.”
In a music industry often filled with bitter disputes, lawsuits, and long legal battles, Banky W insists he took a different approach because he genuinely wanted Wizkid to grow.
“Most labels would've had a fight with him and kept 100% royalties and rights,” he said.
“I did nothing wrong by taking just 80% of the royalties of his first 2 albums and letting him go.”
Banky W added that his decision wasn’t about business alone. He sensed that Wizkid had mentally outgrown what EME could offer at the time. Instead of holding him back with contract enforcement, he believed it was time to step aside.
He said:
“I didn’t stop Wizkid from leaving because I felt he was already bigger than what EME could offer. I’m very happy he succeeded. I still do work for Wizkid till date.”
This statement highlights the level of respect between both artistes despite public speculations of conflict. Banky W made it clear that he has never had any regrets about releasing Wizkid early and has remained connected to some aspects of his career even after his departure.
Banky W’s career offers context for his decision. He released six albums between 2006 and 2021, establishing himself as a respected R&B artiste before becoming one of the most influential label executives in Nigeria. Signing Wizkid was one of the biggest moves in his executive journey. Under EME, Wizkid transformed from a young, talented boy in Surulere to an undeniable global sensation.
Banky W also clarified a major misconception:
If Wizkid had stayed under EME to fulfill his five-album contract, his global masterpiece “Made In Lagos” would have been released under the EME umbrella. That would mean the label retained 80% of the royalties, while Wizkid kept 20%—a structure far more generous than what many Nigerian labels offered at the time.
However, Banky emphasized that he intentionally avoided taking advantage of the massive success Wizkid later achieved.
Instead of forcing Wizkid to complete his contract or claiming ownership of future albums, he chose a fair, amicable exit — one that allowed Wizkid to keep his master rights and artistic freedom moving forward.
Banky W also clarified that taking 80% royalties on Superstar and Ayo was not exploitation but compensation for the massive investment, branding, production, promotions, and strategic support EME provided at the start of Wizkid’s career. He explained that most labels would have taken 100% and still held Wizkid legally bound, but EME chose a more humane path.
Today, Wizkid stands as one of Africa’s biggest global exports, and Banky W remains proud of the role he played in shaping his early foundation.
“I’m very happy he succeeded,” Banky W emphasized, closing the chapter with maturity and goodwill.
His revelation further confirms what many already suspected:
Wizkid’s rise was a product of talent and hard work — but also of guidance, structure, and a rare, supportive label environment that allowed him to fly when the time was right.