Business
‘How M.I Abaga almost destroyed my Music career + His many lies against me’ – Rapper, Milli cries out
It’s no more news that Chocolate city rapper, Milli has parted ways with the label over some unsettled disputes between him and the label’s management. Last week when the news broke out, M.I, Who is the current Chairman of the Label, accused the rapper of being too proud to be controlled.
However, contrary to this report, the Victim, Milli has decried M.I’s accusations levied against him and also revealed the main reasons behind his exit from the label.
READ BELOW
Part One
It’s no longer news that the time has come for me to move on from Chocolate City, but until now, no one has heard my side of the story.
It’s been a long journey – one year in 2014 with M.I. writing and co-producing theChairman album, and another year in 2015 being signed with Loopy and Choc City, writing and co-producing the TICBN album, and working on individual Choc City artist projects.
I have a lot of love for my CC family, especially for Koker and Dice, but for me, things didn’t turn out how I thought they would at all… I was getting held back all the time, I wasn’t allowed to put out music like I wanted to, and it was getting really hard to be myself…
I’m not going to say much out there, about what really happened, that’s why I created this private Facebook group. I don’t want to do interviews and talk about what happened, I wouldn’t even want to write all of it down because it’s quite painful.
But I haven’t told anyone what’s been happening, and you guys have been showing me love all this time, even in my absence, so it’s only fair that you know more than everyone else… What I want to share with you will come in five parts and this is Part 1.
I really love you guys and feel so blessed.
Part Two:
I started working on the Childish EP in 2014, and all the tracks on the EP were ready by the end of 2014, but when I got signed to Loopy in January 2015, M.I asked me to go back and re-record the entire EP.
When Mr Audu left in February 2015 and handed over to M.I, I automatically became a Choc City artist. I was told dropping my EP under CC was going to be great for me so I was really excited. But there was a lot going on at that time, so attention shifted from my EP and I was told I couldn’t drop it for the next few months after the handover because I had to wait for the label to reorganise itself. In March, I figured out a way to drop music though, that’s how I started #FreeMusicFridays. But after three Fridays, they pulled the plug on it and said I couldn’t continue putting out free music…
When the handover was completed, we were asked to start putting together the TICBN album in order to promote the Choc City brand, so again I was told to be patient, and I was… I came up with the idea to drop the Childish EP on Children’s Day (May 27th, which is also my birthday), but no one at the label paid attention and M.I didn’t want me to drop it at the end of May because the TICBN Album would still being promoted around that time, so I had to be patient again. Once the TICBN album that I was also working on was recorded and dropped, I still wasn’t allowed to drop the Childish EP, but instead I was asked to pay attention to the TICBN album and promote it, which I did…
\The TICBN album
Around August, after the TICBN promo, it was time for individual artists to drop projects they had been working on before the TICBN album, so I was excited and thought I could finally put out Childish. But then a new rule was invented: New music could only be dropped if it came with a music video… Sigh. More patience.
The music video for Unlooking was shot in September last year but turned out a disaster, a lot of things that were supposed to happen didn’t and it just didn’t look right. I wasn’t proud of it, and you wouldn’t have liked it at all, but I couldn’t afford to shoot another one, and I couldn’t drop Childish unless I dropped a video, so I was willing to live with it. I just wanted to drop my EP… But when M.I saw the footage, he said I couldn’t drop the video yet, because we had to shoot additional scenes. The next shoot was set for January 2016 (four months after the first shoot!), which meant Childish wouldn’t drop till then. One year of waiting, and more patience…
Part Three
In November last year, I realised the year was almost over and I hadn’t put out any single yet. It bothered me, because people were waiting, and with all my frustrations I had to ask that the rule be waived in my case for Unlooking because my video was already shot, but not yet ready. Luckily it was approved but M.I wasn’t fully behind my decision, so I wasn’t very confident. But I knew I had to drop something with or without his support…
I know some of y’all have been asking about the Wizkid feature and if it that was even true. Well, it did exist, and still exists. I did have a song with Wiz, which was also supposed to have M.I on it, but unfortunately he took it from me. M.I gave me a choice – if I wanted to put out Unlooking, I would have to give up the Wizkid feature.
I guess nobody in their right mind would give up a feature with Wiz, but I did believe in Unlooking, and everybody around me wanted me to release it. Also, I didn’t want my first release to be a feature, and I knew I could always find him again, so I gave up the Wizkid track and prepared the release of Unlooking.
I created Unlooking in a really unique way. When I first wrote it, the verses were different, not Pidgin, but M.I asked me to rewrite the song, and had me change it from English into Pidgin, to be more ‘street‘… so I did, even though I never enjoyed remaking the song. But I wanted to make him happy so I would get all the support I needed by the time Unlooking was coming out. Unfortunately, after so much time rewriting it, when I finally dropped the song, he didn’t support me and Unlooking wasn’t pushed.
He didn’t put much effort into promoting it, I could tell, and after Unlooking, all these new dab songs started coming out and the move that I had started was jacked from me… I saw M.I supporting Olamide’s dab and it really hurt me.
I thought M.I was ashamed of me. He was telling people that Unlooking was just 60% of what it could have been, and that the only reason people liked it was because it was in Pidgin. There was no budget for promotion, so I had to hustle by myself, but I am just one person and I can’t win if my own people don’t believe in me…
And all this while, M.I told me to be more like this or that artist, be more ‘street’, and people told me that he kept saying that my music wasn’t gonna fly in Naij… It’s like they had decided my sound wasn’t going to work before they even gave it a chance. It made me really, really sad…
Part Four
In December last year, I met some cool and serious people that not only believe in me and my music, but they also want to see me shine. My new team wanted to work with Choc City but Choc City didn’t want that. All this while, all CC artists were told to build their own teams. And here I was, with a dope team that wanted nothing from the label but the opportunity to invest in me, and work on my promo and branding together with the label, and CC said no.
They said ‘Either all us or nothing’. So what choice did I have? Sit and wait some more, or work with people who actually believe in me? I didn’t want to leave the label, but they didn’t really leave me a choice… So as much as it pained me to leave my fam behind, we started the release process in January…
Right after the meeting with M.I, my new team and I travelled abroad for four weeks to shoot two music videos. The change of environment was good for me as I was really down at the time, I felt abandoned because after all the hard work I had put into the various CC projects and the Chairman album, the label was ready to just give up on me like that…
Then things started picking up and I did more work with my new team in one month than with Choc City in an entire year, and I’m grateful. They get me and my music. They wanna make me succeed the way I am, not change my sound. They see the big picture, and way beyond Nigeria.
Not everyone is happy about my departure from CC though, and even for me, it wasn’t easy to make that decision… In ‘Everything’ M.I. really went deep, calling me disloyal for leaving the family and so on. People in the label office stopped talking to me. It became difficult for me to work with Reinhard, my producer that I introduced to M.I. at the time we produced Chairman. They talked to radio OAPs and other media people and told them their side of the story, making me look bad and as if I don’t care about anyone.
And then it took almost five months to release me from the label, so I was stuck. Choc City was delaying me and crushed my vibe… My new team said I shouldn’t be on social media until things are settled with Choc City, so that they don’t change their mind about releasing me or delay us some more when they see how well things are going for me. That’s why I went quiet at some point. I didn’t even know what to say or post anyway, I was just really, really sad…
Part Five
Being signed to Choc City was a big opportunity in my life that I will forever be grateful for. I’ve learned a lot, the good and the bad. But to keep following my dream, I needed to let go, even if it hurts and it still does…
But I’ve got my own label now, Up Next, a dope team, and I’ve got you guys, and that’s all I need. But I can’t lie, it’s gonna be tough. I already know that he and his people have been talking to the media, and I don’t know how that will affect what the blogs will write, and how much radio and TV airplay I will get for my music… Maybe they will shut me out, he has people everywhere, so its possible for him to do things his way… Some of the social media influencers even told me they don’t want to promote my new projects, for fear of upsetting M.I or Choc City…
It’s scary and I don’t know what will happen but I’m ready for the challenge, and as long as you guys have my back and help me post, RT, Regram and spread the word about the#UpNextMovement and my new music to your people, we don’t even need all the fake hype!
Much more happened than what I’ve told you, a lot of personal things that really disappointed and hurt me deeply, coming from a person I admire and respect so much. I won’t speak about details because I don’t want this to be about any of those personal things. That’s between him and me. #DontAskMeWhatHappened.
But I will never forget how I was put down again and again, how my confidence in my sound was broken, and how it was impossible for me to put out my music. I even stopped believing in myself at some point… Your messages all this while really helped me a lot and gave me new motivation. I felt your love and I’m grateful for that.
What I’m going to drop this week is daring, but it’s my way of overcoming my fear, stand up for the Art I believe in and move on. I hope I can count on you to have my back and get others to join the #UpNextMovement. The Movement is about the art of good music, and about giving other artists that make ‘different’ sound the courage and strength to BE different, instead of getting frustrated by the industry.
I’m sure many people will say I’m ungrateful and I want to cause drama but what I really want to do is to leave the old structures behind that suppressed my art and my sound, follow my dream and #SetArtFree! That’s my mission with the #UpNextMovement.
We need to allow Art to exist in Nigeria and I’m not shutting up no more. And if that upsets some people, so be it.
Bless you all and thanks for being with me.
Milli
Bank
Fidelity Bank grows gross earnings by 38% to N434.95b in Q1
Fidelity Bank grows gross earnings by 38% to N434.95b in Q1
Fidelity Bank Plc recorded 37.9 per cent growth in gross earnings to N434.95 billion in first quarter 2026 as the international commercial bank continued to expand its core banking market share.
Interim report and accounts of Fidelity Bank for the three months ended March 31, 2026 released at the Nigerian Exchange (NGX) showed that gross earnings rose from N315.42 billion in first quarter 20025 to N434.95 billion in first quarter 2026, representing an increase of 37.9 per cent.
The top-line performance was driven by impressive growth in the bank’s core business operations with interest incomes rising by 22.8 per cent to N314.48 billion in first quarter 2026 as against N256.10 billion in first quarter 2025.
With net interest income at N180.97 billion, the bank closed the period with profit before tax of N92.48 billion. After taxes, net profit stood at N74.47 billion for the three-month period. Earnings per share remained high at N5.69, underlining the capacity of the bank to reward its shareholders.
The balance sheet of the bank also emerged stronger. Total assets crossed the N11 trillion mark to N11.35 trillion by March 2026 compared with N10.46 trillion recorded in December 2025. Customers’ deposits increased from N6.89 trillion to N7.38 trillion. Total equity rode on the back of earnings growth to a 27.5 per cent increase from N1.09 trillion in December 2025 to N1.39 trillion by March 2026.
The first quarter 2026 results further consolidated the strong earnings outlook of the bank, which had successfully completed its recapitalisation amidst impressive earnings performance in 2025.
Fidelity Bank had recorded double-digit growths in interest and non-interest incomes as well as key balance sheet items during the year ended December 31, 2025.
The audited report showed that gross earnings rose from N1.04 trillion in 2024 to N1.52 trillion in 2025, an increase of 45.6 per cent. Interest and similar incomes had grown by 38.7 per cent from N803.1 billion in 2024 to N1.11 trillion in 2025. Fees and commission incomes also rose by 44.7 per cent from N78.4 billion to N113.4 billion. The bank recorded net profit after tax of N242.4 billion in 2025.
The bank’s balance sheet emerged stronger with total assets rising by 18.6 per cent to N10.46 trillion in 2025 as against N8.82 trillion in 2024. Customer deposits increased by 16.1 per cent from N5.94 trillion to N6.89 trillion, reflecting continued franchise strength and an improved funding profile. Net loans and advances meanwhile declined by 2.4 per cent to N4.28 trillion in 2025 as against N4.39 trillion in 2024, attributable to customers paying down on their mature obligations.
The bank had in 2025 strengthened its capital position, with eligible capital rising to N561 billion, above the regulatory minimum of N500 billion for banks with international authorisation. In addition, capital adequacy had remained robust, with Capital Adequacy Ratio of 30.94 per cent by December 2025 as against 23.47 per cent by December 2024.
Managing Director, Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe, said the first quarter 2026 results reinforced the bank’s strong and resilient business model.
She noted that with the remarkable success of its recapitalisation programme and continuing expansion, Fidelity Bank has entered a new era of growth and impressive returns.
“We are on a stronger footing and confident that we will set new growth records that are reflective of our legacy and the future we are working on,” Onyeali-Ikpe said.
Business
Dangote Refinery Ends Nigeria’s Era of Fuel Import Dependence, Boosts GDP, FX Earnings — EIU
Dangote Refinery Ends Nigeria’s Era of Fuel Import Dependence, Boosts GDP, FX Earnings — EIU
The operational ramp up of the 650,000 barrels per day Dangote Petroleum Refinery & Petrochemicals is fundamentally reshaping Nigeria’s downstream oil sector, significantly reducing the country’s dependence on imported refined petroleum products and strengthening its external position, according to the Economist Intelligence Unit (EIU).
In its latest assessment on Nigeria’s fuel market and regulatory environment, the EIU said the refinery has already transformed a sector that was previously characterised by heavy reliance on imported fuel despite Nigeria being Africa’s largest crude oil producer. The report noted that the refinery met nearly 80 per cent of domestic petrol demand in April and produced enough volumes to satisfy local consumption requirements as operations approached full capacity.
The EIU described Nigeria’s downstream petroleum sector before the refinery as “long dysfunctional”, noting that the country had remained almost entirely dependent on costly imported fuel while producing nearly 1.5 million barrels of crude oil daily.
According to the report, the emergence of the refinery has reduced import dependence, improved domestic fuel availability and strengthened Nigeria’s balance of payments position through lower import demand and rising exports of refined petroleum products.
“The gradual ramp up of the 650,000 barrel/day Dangote refinery since May 2023 has transformed Nigeria’s long dysfunctional downstream sector,” the report stated. “The country’s main refineries, all state owned, had been inoperative for years and Nigeria was almost entirely reliant on costly imported fuel.”
The research and analysis division of The Economist Group, London added that the refinery’s attainment of full operational capacity and its planned expansion would further support Nigeria’s economic growth and foreign exchange earnings over the medium term.
“Meanwhile, the attainment of full capacity at, and an increase in exports from, the Dangote refinery will support real GDP growth and foreign exchange earnings in 2026 and 2027 and beyond, as a planned doubling of the plant’s output comes on stream around the end of the decade,” it added.
Industry analysts said the refinery is increasingly positioning Nigeria as an emerging refining and export hub, altering energy trade flows across Africa and reducing the vulnerability associated with fuel import dependence.
The EIU noted that the refinery’s expansion has coincided with major reforms in Nigeria’s downstream sector, including the removal of fuel subsidies and the introduction of market driven pricing mechanisms.
The report, however, said the transition from a state dominated fuel import structure to large scale domestic refining has triggered resistance from interests linked to the old import regime.
The latest tensions emerged following the decision by the Nigerian Midstream and Downstream Petroleum Regulatory Authority to relax restrictions on petrol imports despite the refinery’s growing capacity to meet domestic demand.
Dangote Industries subsequently initiated legal action, arguing that continued import approvals undermine domestic refining investments and conflict with the objectives of the Petroleum Industry Act, which seeks to encourage local refining capacity and reduce import dependence.
Analysts noted that the availability of large-scale domestic refining capacity has improved Nigeria’s energy security and reduced exposure to external supply shocks and foreign exchange volatility.
The Centre for the Promotion of Private Enterprise also cautioned against unrestrained importation of petroleum products, warning that such a policy could weaken Nigeria’s industrialisation drive and discourage investments in domestic refining.
Chief Executive Officer of CPPE, Muda Yusuf, said continued dependence on imported fuel had historically contributed to pressure on foreign reserves, exchange rate instability and fiscal leakages.
The refinery’s growing impact is also being reflected in Nigeria’s broader macroeconomic indicators. Earlier this month, S&P Global Ratings cited increased domestic refining capacity and rising hydrocarbon exports among the major factors supporting Nigeria’s sovereign credit rating upgrade – the first in 14 years.
Beyond Nigeria, analysts said the refinery is increasingly being viewed as a strategic industrial asset for Africa, where many countries remain heavily dependent on imported fuel despite rising demand for transportation, manufacturing, and power generation.
Business
BREAKING: Court Dismisses $19.6 Million Claim Against NNPCL — Rules Contract Scope Cannot Be Changed Orally
BREAKING: Court Dismisses $19.6 Million Claim Against NNPCL — Rules Contract Scope Cannot Be Changed Orally
In a landmark ruling on Friday, May 22, 2026, the Federal Capital Territory High Court in Abuja threw out a $19.6 million lawsuit filed by Alternate Dimensions Ventures Ltd against the Nigerian National Petroleum Company Limited (NNPCL), affirming a key legal principle: a written contract cannot be expanded through oral agreements or conduct.
Alternate Dimensions had sought $19,600,000 in professional fees, claiming the scope of its Direct Sale, Direct Purchase (DSDP e-pro) contract with NNPCL was orally expanded. Represented by counsel Patrick Peter, the firm argued it was entitled to the revised sum for services rendered under the alleged new terms.
But NNPCL, through its lawyer Ituah Imhanze of KENNA LP, pushed back sharply, arguing that parties are bound exclusively by the clear terms of their written agreement. Imhanze contended that without any written amendment, the claim was legally unsound, and the court agreed.
Delivering judgment, Justice Hamza Mu’azu upheld NNPCL’s defense, stating that the contract was unambiguous and that no evidence was adduced during the trial, which supported the alleged scope expansion. The court further found that NNPCL fully complied with all contractual terms and committed no breach.
Dismissing the suit as meritless, Justice Mu’azu reinforced the doctrine of sanctity of contract: any amendment to a written agreement must be express, unequivocal, and documented, not implied or verbal.
The ruling spares NNPCL from the S19.6 million claim and also a floodgate of similar potential liabilities.
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