QUESTION: Did Iyanya sell 50% stake in MMMG to Paul Okoye?

Despite co-founding Made Men Music Group (MMMG) over four years ago, Iyanya Mbuk shocked everyone by opting to ditch the record label.

First, he joined Temple Management, before ending up with Mavin Records – all within a few months.

His decision was even more surprising because while at MMMG, he was a co-owner but in Mavin, Iyanya was to be one of the top artistes, alongside Tiwa Savage.

FRANKLIN AND IYANYA SING DIFFERENT TUNES

Interestingly, his former partner and co-founder of MMMG, Ubi Franklin, did not go berserk over the incident as is wont to happen between Nigerian record companies and wantaway artistes.

In fact, the artiste manager said he was privy to Iyanya’s plan to set up his own shop.

To douse the speculation surrounding his partner’s exit, Franklin had said, “Iyanya had approached me about a year ago and notified me of his intentions to start up a label. He wanted my blessing to do so and I told him it was a welcome development”.

He added: “I assured him of my support to help structure his planned label with the existing company (Made Men Music Group) whenever he was ready and the process was initiated.

“I was also privy to the information that he had identified a few artistes with potential he wants to nurture. Iyanya is starting a new label which will be a company out of Made Men Music with a different structure and a different focus, aiming at growing our industry.”

But that never happened.

Iyanya said he wasn’t ready for the stress of running a record label while being a full-time recording/performing artiste.

The ‘Kukere’ singer had subsequently said his decision to join Mavin was largely due to the influence of Don Jazzy, Mavin CEO, and the prospect of working with him.

“I made the decision to join Mavin because I saw that they have what I want.

“First of all, Don Jazzy is an amazing producer, musician, legendary. So working with him, or having him supervise my projects is a blessing for me. I’m just trying to get it right,” the singer had said in an interview with TheCable Lifestyle.

TEKNO’S PREGNANT REVELATION

Augustine Kelechi, his former label mate who’s known as Tekno, has made a revelation that has got many wondering what really transpired behind closed doors.

Tekno, who had a fantastic 2016 in terms of hit songs, awards and endorsements, on New Year’s day said Paul Okoye, CEO of Upfront and Personal, bought a 50% stake in his “record label”.

At the moment, his record label is MMMG.

The singer said in a video: “My people, listen. I’m happy and excited about life. That’s all that matters despite this year being a crazy year.

“So, I want to use this opportunity to say thank you to Upfront and Personal. Thank you Paul O for becoming a part of my label, for buying into the company… owning 50% shares of the company.

“This is really good. I’m excited because it really facilitated a lot of things.”

#happynewyear🎉 #thankyou

A video posted by TIA (@teknoofficial) on Dec 31, 2016 at 12:16pm PST

WHO IS PAUL O?

Paul Okoye a.k.a Paul O, is a popular music promoter whose company is into event management, celebrity bookings/endorsements, media buying and public relations.

Paul O’s company organised the historic One Africa Music Fest series in the United States; he also owns a news website and a record label, Upfront Records.

The music promoter, in response to Tekno’s video, reposted it on his page and said in part, “Tekno, I believe in you. 2017 will be your year”.

That belief in Tekno was perhaps, what led to the facilitation of a music distribution deal with Sony Records for the ‘Pana’ singer.

Although there’s little evidence backing it, Tekno’s revelation about Paul O buying 50% of MMMG in the wake of Iyanya’s exit raises a lot of fresh questions and leaves a lot to wonder about.

TheCable Lifestyle has reached out to Iyanya, Ubi Franklin and Upfront & Personal to confirm if the ‘Desire’ singer sold his stake in MMMG to one of Nigeria’s biggest music promoter.