This was late 2008, Ayodeji Balogun popularly known as WIZKID, just dropped out of school, Lagos State University after he was discovered by Banky W.
Wizkid was still a teenager, (18) looking smaller and shorter in the video, and most definitely, he was totally grateful to his “messiah” Banky W for discovering his raw talents and for giving him a platform (EME Records) to become a super star.
He went on to sign a contract in the year 2009, then he gladly agreed to be getting 25% from whatever he gets paid to perform at an event with Banky W’s Empire Mate Entertainment.
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%
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.
This is 2013 Wizkid is no more that “upcoming artiste” anymore, he is popularly known all across Africa and even gone International after the success of his first and only album. Performing on the same stage with Chris Brown says a lot about his rise to fame.
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 features stars like Wale, Chris Brown, Tinie Tempar and others. He now floats his own ‘Star boy Records’
So 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.
Wizkid surely got bigger than even Banky W, and he clearly saw this felt cheated.
He recently tweeted ‘Don’t mistake loyalty for stupidity’ showing his frustrations to his former boss.
The innocent, grateful, loyal Wizkid in the video above is gone with the wind.