Banky W Earns 80% of Wizkid’s Albums, Asake’s YBNL Exit Revealed

Banky W’s 80% Cut from Wizkid’s Albums and Asake’s YBNL Exit: A Lawyer’s Explosive Revelations

In the glittering world of Nigerian music, where fame and fortune seem boundless, the fine print of contracts often tells a different story. Entertainment lawyer Oluwayemisi Faleye recently pulled back the curtain on two of the industry’s biggest stars, Wizkid and Asake, exposing the harsh realities of music deals gone wrong. Her revelations about Banky W’s staggering 80% royalty share from Wizkid’s early albums and Asake’s dramatic exit from YBNL have sent shockwaves through fans and industry insiders alike. This is a tale of talent, trust, and the costly lessons of signing on the dotted line without a lawyer by your side.

Wizkid’s Early Deal: A Star’s Shine Dimmed by Royalties

Imagine creating a chart-topping album that defines a generation, only to see 80% of its earnings go to someone else. That’s the reality for global superstar Wizkid, born Ayodeji Balogun, according to Faleye. In a candid interview, she revealed that Banky W and Tunde Demuren, co-founders of Empire Mates Entertainment (EME), still pocket 80% of the revenue from Wizkid’s first two albums, Superstar (2011) and Ayo (2014). These albums, packed with hits like “Holla at Your Boy” and “Jaiye Jaiye,” catapulted Wizkid to fame, but the financial rewards have largely eluded him.

Faleye explained that Wizkid, then a young artist eager to break into the industry, signed a contract with EME that heavily favored the label. “Many artists don’t understand the long-term implications of these deals,” she said. “Wizkid was young, hungry, and trusting. The contract was standard for the time, but it locked him into a royalty structure that’s hard to escape.” Even as Wizkid’s star power soared, making him a global icon with collaborations alongside Drake and Beyoncé, the shadow of that early deal lingers. Banky W, a respected figure in the industry, has not publicly responded to these claims, leaving fans wondering if the mentor-protégé relationship was as equitable as it seemed.

This revelation sparks a broader question: how many young artists are signing away their futures for a shot at stardom? For Wizkid, the success of Superstar and Ayo laid the foundation for his career, but the financial cost remains a bitter pill. Fans on social media platforms like X are buzzing with reactions, with some praising Banky W’s business acumen and others calling for fairer contracts for emerging talents.

Asake’s YBNL Exit: A Dream Deal Turned Sour

Across town, another Nigerian superstar faced his own contract woes. Asake, the soulful voice behind hits like “Sungba” and “Amapiano,” made headlines when he parted ways with YBNL, the label owned by rap icon Olamide, in February 2025. Faleye’s insights into Asake’s departure paint a picture of ambition clashing with unfavorable terms.

According to Faleye, Asake signed with YBNL in 2022 without legal representation, a decision that would haunt him. “He was excited to join a label with Olamide’s reputation,” she noted. “But excitement doesn’t replace due diligence.” The contract, while initially promising, left Asake feeling “cheated and hurt” as his albums Mr Money With The Vibes (2022), Work of Art (2023), and Lungu Boy (2024) skyrocketed to success. These projects cemented Asake’s status as a leading light in Afrobeats, but the financial split with YBNL didn’t reflect his contributions, Faleye claimed.

Rather than renew his contract, Asake chose to walk away, launching his own label, Giran Republic, to take control of his destiny. “It was a bold move,” Faleye said. “He saw the numbers and realized he deserved better.” Asake’s exit underscores a growing trend among Nigerian artists who, emboldened by global streaming platforms, are seeking greater autonomy. Yet, his story is a cautionary tale for others: a lawyer’s advice could have saved him years of frustration.

The Bigger Picture: A Call for Change

Faleye’s revelations are more than just gossip, they’re a wake-up call for the Nigerian music industry. Young artists, dazzled by the promise of fame, often sign contracts without fully understanding terms like royalty splits, publishing rights, or contract durations. “The industry thrives on talent, but it’s the business side that determines who truly wins,” Faleye emphasized. Her advice? Always consult a lawyer before signing anything.

For fans, these stories add depth to the music they love. Wizkid’s journey from a Lagos teenager to a global icon is inspiring, but the 80% royalty cut reveals the cost of that ascent. Asake’s bold move to leave YBNL shows resilience, but it’s a reminder that even the brightest stars can be dimmed by bad deals. As the industry evolves, with streaming platforms like Spotify and Apple Music amplifying African voices, the need for fair contracts has never been more urgent.

What’s next for Wizkid, Banky W, and Asake? Will Banky W address the royalty controversy, or will Wizkid renegotiate his early deal? Can Asake’s Giran Republic set a new standard for artist-led labels? The answers are unfolding, but one thing is clear: in the high-stakes world of Nigerian music, talent alone isn’t enough. Knowledge is power, and a good lawyer might just be the key to keeping it.