“Up Till Now, Banky W Earns 80% of Wizkid’s First Two Albums” – Entertainment Lawyer Oluyemisi Falaye Reveals

In a revelation that has reignited debate over artist-label contracts in Nigeria’s music industry, prominent entertainment lawyer Oluyemisi Falaye has disclosed that singer and music executive Banky W still earns 80% of the revenue generated from Wizkid’s first two albums, despite the Starboy’s global rise and label independence.

Falaye made the statement during a recent media appearance, where she discussed the structure of music contracts in Nigeria and how many upcoming artists unknowingly sign away the lion’s share of their early work in exchange for fame, exposure, and financial backing.

“Up till now, Banky W earns 80% of Wizkid's first two albums,” she said, referencing the singer’s time under Empire Mates Entertainment (EME), the record label co-owned by Banky W that shot Wizkid to stardom with hit albums like “Superstar” (2011) and “Ayo” (2014).

The bombshell has stirred massive buzz across social media, with fans split between outrage and realism. While many are shocked that Wizkid, one of Africa’s most successful artists, could still be earning just 20% off his early classics, others argue that such splits are common industry practice, especially when a label takes on all the early financial risk.

“This is why new artists need proper legal advice,” Falaye warned, adding that many talents focus on blowing up fast and neglect to read the fine print, only to regret it once they become successful.

Wizkid, who has since parted ways with EME and launched his own Starboy Entertainment, has never publicly called out Banky W over the deal, though rumors of contractual tension between them have lingered for years. He famously missed Banky W’s wedding and has occasionally made cryptic posts hinting at dissatisfaction with the past.

As fans revisit “Superstar” and “Ayo”—albums that gave us hits like “Holla at Your Boy,” “Don’t Dull,” and “Ojuelegba”—many are now viewing them through a different lens: a cautionary tale about what it really costs to become a star.

Whether this new revelation will lead to further public fallout or behind-the-scenes renegotiation remains to be seen. One thing is clear: the music may be timeless, but the business behind it is never as sweet as the beat sounds.

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