Omololu stated that Iyanya’s illiteracy when it comes to the legal and business part of music cost him a lot.
‘I watched both interviews that Iyanya and Ubi Franklin granted the media where they both made assertions against one another. My take is that Ubi Franklin, who has a legal background, cheated Iyanya. Iyanya’s illiteracy in the legal and business side cost him some money.’
During the interview that Ubi Franklin granted, Ubi Franklin asserted multiple times that Iyanya suggested he wanted nothing to do with the “business side” of music but the same Ubi Franklin decisively suggested that Iyanya was hungry for financial success when they both decided to work together.
This is the most ridiculous contradiction I have heard from a lawyer and businessman. Ubi Franklin had to be forced to attach Iyanya’s name to the legal documents of Made Men Music Group because of a loan they sought: This means Ubi Franklin was in no way bothered about a legally binding document that made sure Iyanya was properly compensated for his talent and music.
Why will an upcoming artist say he wanted nothing to do with the “business side?” Everyone knows upcoming artists want financial success — the “business side” is how artists get paid so even if Iyanya stated that to Ubi Franklin at the beginning of their partnership, Iyanya was obviously ignorant of the legal consequences of his words.
Furthermore, Ubi Franklin stated during the interview, that proceeds to Made Men Music Group would be split 50/50 between Iyanya and Ubi Franklin. How do you refuse to give Iyanya his 50 per cent because you asserted that Iyanya said he “wanted nothing to do with Tekno?” A legally binding document has nothing to do with verbal discussions except the document has been legally modified.
So regardless of the assertion regarding what Iyanya said, he should have been paid his 50 per cent coming from the proceeds of Tekno’s work. Paulo, another businessman, supposedly had to convince Ubi Franklin to begin the payment of Iyanya’s 50 per cent off Tekno’s work. With all these drama, the conclusion is that — money is important. Education is also important.”