Banko Recounts His Six-Year Stint Leading Sony Music West Africa as He Returns to Basics
As General Manager, Banko, in six years, built a blueprint for patient, principled leadership in an emerging market like West Africa where leadership must be rooted in service, not status.
In the early days of April, Oluwaseun Lloyd [popularly known as Banko] announced that his time as General Manager of Sony Music West Africa was coming to a close, marking the end of a chapter that began in 2019. It dawned on me as a perfect time to reflect on the evolution of Sony’s West African operations under his leadership as I’d been meaning to do something like that.
Banko had succeeded Michael Ugwu, who first occupied that position following Sony Music’s formal re-entry into the West African market in 2016. The expansion was led by Adam Granite, who, at the time, was President, Northern & Eastern Europe and Africa, Sony Music International but now Chief Executive Officer, Africa, Middle East and Asia (“AMEA”) at Universal Music Group (UMG).
Back in 2020, during my early days of exploring the business side of music, I caught up with Ugwu for a conversation published on OkayAfrica, trying to understand the inner workings of the major label system. Interestingly, I only remembered that conversation while piecing this story together; a full-circle moment perhaps and subtle reminder how long I’ve been around 🤦.
Sony's re-establishment in Nigeria under Ugwu had laid the groundwork, but when he moved on, the company needed a new leader to carry the momentum forward. That search eventually led them to Banko. At the time, he was serving as President of Davido Music Worldwide (DMW), helping orchestrate the label’s rise alongside its flagship artist, Davido. Sony’s first outreach to Banko had been transactional via a proposed deal with DMW that ultimately didn’t materialize. Yet the relationship built during those early discussions came handy when, a year later, Sony returned to Banko with a different offer to lead their West African operations.
Initially reluctant, Banko offered to help Sony scout for a suitable candidate. But in the process, something shifted. “I had a gut feeling that I could actually do this,” he told me during our call. Banko put his own name forward, in a decision that would not only shape his career but also fundamentally alter the trajectory of Sony Music West Africa over the next six years.
In Banko’s exit announcement, he didn’t reveal immediate details about his next move. While I was privy to speculation making the rounds, I decided to reach Banko directly and what I thought would be a few minutes fact-check turned into a sprawling, hours-long conversation that offered a vivid, insider view into the realities of steering a major label’s machinery in a volatile but promising market like West Africa. From opportunities seized, to hurdles navigated and lessons learned - you name it!
Banko walked me through the six-year journey; from Sony’s modest beginnings operating out of a single-room office at Landmark Towers to the full-fledged regional operation now headquartered at The Wings Complex, and hosting other Sony-affiliated businesses like The Orchard, Sony Music Publishing, and AWAL in the Nigerian market.
Under his leadership, Sony Music West Africa secured key artist signings such as Mayorkun, Gyakie, and more recently, Morravey ; who have all become central to Sony’s local narrative.
Gyakie, in particular, emerged as a breakout success due to the enduring popularity of her hit “Forever”, and its remix featuring Omah Lay, which peaked at #11 on the UK’s Afrobeats Chart. In 2024, she was the most-streamed female Ghanaian artist on Spotify.
Morravey’s ascent follows similar path after her feature on Davido’s Timeless album, her solo single "Ifineme" gained viral momentum towards the end of 2024, earning her a spot on Shazam’s Artists to Watch for 2025.
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But…all these don’t do justice to the real story, so we’ll go into the DETAIL.
LOCAL MARKET, GLOBAL MACHINERY
During our conversation, Banko was reflective when asked what he considered his proudest wins during his time at Sony Music West Africa. His answer revealed a deeper layer to the work he had been doing, one less concerned with headline numbers, and more about building institutional credibility.
“With Sony Music West Africa, one thing that has always been important for us was our own story,” Banko began.
Under the broader Sony Music umbrella, countless artists across the US, UK, and Europe are signed directly to different divisions. For artists within Africa, however, the allure has often been towards those larger, more established arms such as Sony Music UK or Sony Music US, rather than their relatively smaller West African counterpart. “Artists want Sony but not Sony Music West Africa,” Banko explained. This was the environment Banko inherited in 2019 and despite Sony's historical presence in Nigeria during the 1970s; by the time Banko assumed leadership, Sony’s local brand equity was questionable and the earlier rebuild had left much work still undone.
When Banko stepped into the role, global heavyweights like Davido and Wizkid were already under the Sony system, but importantly, they were signed directly to Sony's UK or US operations, not to Sony Music West Africa. This distinction mattered and you’ll wonder why...🤔
For the West African office to have any true autonomy, relevance or reverence, it needed its own success stories - artists nurtured, signed, and developed under its direct stewardship. Thus, one of Banko’s foremost goals became crystal clear, which is to build Sony Music West Africa’s name. Not just administratively, but culturally - among artists, managers, and the wider music ecosystem. Two stories [Gyakie and Mayorkun] have since crowned this effort.
“Signing her from development and now seeing her become a hundred-plus-million streamer; that's one of our biggest stories," Banko said of Gyakie.
A similar, though slightly different, trajectory played out with Mayorkun. Having known him from their time together at DMW, Banko was instrumental in transitioning Mayorkun into the Sony fold for his second album Back In Office. The partnership bore fruits such as “Holy Father” and “Certified Loner”. These two projects [Gyakie and Mayorkun] symbolized Banko’s broader strategy of not just associating with success, but building success from within. “We wanted to put our names behind the artists we actually signed,” he explained, “instead of only representing the repertoire of already-established names like Davido, Wizkid, or Tems.”
The goal was to mirror their global momentum with strategic, localized support as streams from the region contribute directly to Sony Music West Africa’s revenue topline
That said, Sony Music West Africa under Banko still played key supporting roles for artists outside its direct roster. Handling local campaigns for international Sony signees such as Wizkid, Central Cee, Tems, Davido, Tyla, and more recently Shallipopi, was part of a broader mandate to ensure that Sony’s global stars were properly represented and amplified within the West African market. The goal was to mirror their global momentum with strategic, localized support as streams on such catalogue from the region contribute directly to Sony Music West Africa’s revenue topline. Banko’s leadership reflected an understanding that West Africa’s role in the global music economy was evolving; not just as a content engine but as an increasingly important consumer market, a dual identity that required careful handling.
EARLY DAYS…
Beyond the artist signings and growing brand recognition, Banko’s time at Sony Music West Africa was also marked by quieter, but no less significant, internal victories. When I asked him about milestones that perhaps had not been widely recognized outside the company, he spoke discreetly about the reality he had walked into in 2019, and the scale of the transformation that followed.
“When I got into the company, we were at a negative, not even break-even,” Banko recalled. He was careful not to reveal sensitive figures, but the message was clear that Sony Music West Africa was, at the time, an operation running at a loss, hence there was little appetite for major initiatives. Also, not only were there financial bottlenecks, but the operational setup itself was bare.
“It was just me; one person, in a one-room apartment office at Landmark, VI,” he said. “I remember thinking, this isn’t an office.”
The early days of his tenure required a strategy rooted in patience and fundamental rebuilding. He began by bringing in two new hires - including Jim Donnett [former Editor/Music Critic at TooXclusive] who would handle PR, carefully scaling the team step by step. At that point, signing local artists was not even an immediate priority. First, they needed to understand exactly how the company could realistically generate revenue within the West African context.
Every time a Nigerian listener streamed a Beyoncé song, or played Chris Brown or DJ Khaled, Sony Music West Africa was entitled to a share of revenue.
Working closely with Sony’s leadership in South Africa, Banko and his small team identified that much of the revenue potential lay in streams of global Sony repertoire within Nigeria [West Africa, if you may]. Every time a Nigerian listener streamed a Beyoncé song, or played Chris Brown or DJ Khaled, Sony Music West Africa was entitled to a share of revenue. So, rather than rushing into aggressive local signings, Banko focused first on maximizing visibility and engagement around these international releases within the Nigerian market. This period of cautious groundwork paid off. Local awareness campaigns, targeted digital activations, and steady PR support ensured that when Sony's global superstars released music, Nigerian audiences were aware and engaged, which led to generating incremental revenue streams critical to stabilizing the local operation.
Gradually, Sony Music West Africa also re-entered local artist development, signing T-Classic as their first official local act. This was before TikTok’s reign, during the height of Triller’s popularity in Nigeria, and T-Classic’s flair for short-form video creation made him an ideal bet. His success helped Sony re-establish some local relevance, even as they continued building cautiously behind the scenes.
In this early phase, they also worked closely with Kiddominant, who would later go on to become one of Afrobeats' most sought-after producers. “We just started doing little things here and there,” Banko explained. Bit by bit, the team expanded; from two, to five, to six, and eventually to seven staff members. This slow but steady growth eventually saw them move into a new office space that matched Sony's international standards - no longer a makeshift room at Landmark, but a professionally outfitted office at The Wings Complex, Victoria Island.
“Coming from where we were, to now moving into that office... it created an avenue for more Sony Music companies to come into the market,” Banko said.
Indeed, Sony Music West Africa’s stabilization under Banko's leadership opened the door for other Sony entities including Sony Music Publishing, The Orchard, and AWAL to establish formal presences in Nigeria. This expansion has since translated into employment opportunities for over fifteen people across various divisions, contributing to the institutionalization of the Nigerian music industry, as we often speak/hear about. Yet, as Banko noted, much of this work was invisible to the wider public.
“When we started, nobody knew it was just one person in a tiny office,” he added. “But when we moved to The Wings and started curating moments like the recent Women’s Month Mixer, people started to see Sony Music as a serious player in the market.”
Summarizing his journey at the major label from 2019 to 2025, Banko's tone shifts from clinical recollection to something more emotive and personal.
“Leaving behind something that the company now sees as important enough to carefully hand over is special to me.”
Importantly, Banko stressed that his decision to leave was a personal one. It was not driven by dissatisfaction or corporate pressures, but rather a recognition that his journey at Sony had come full circle. “It is time for me to explore something different,” he said.
THE PLOT THICKENS…
While the external markers of success [re: expanded offices, successful artist signings, and increased brand visibility] told one story, the actual reality of running a major label in West Africa was far more complex. Behind the scenes, Banko and his team were constantly navigating an unpredictable economic terrain stacked with challenges upon the other.
“Honestly, the dollarization of the Nigerian economy has to be the toughest part,” he said. “Everybody wants to deal in dollars,” he continued, “but when the money comes back, it’s in Naira and that Naira is going to be worth about 20% of the dollar invested.”
Buoyed by impressive streaming numbers, many acts would approach Sony with lofty financial expectations, but what those raw stream counts masked was the geographic reality as the majority of those streams often came from Nigerian listeners, where Average Revenue Per User (ARPU) was minimal.
“When you’re negotiating, they’ll tell you, ‘I have 10 million streams,’” Banko said. “But they won’t break down where those streams are coming from.”
I have personally, at different instances, seen this lead companies into deals that only later proved to be financially unsustainable, which is a lesson that Banko and his team learned early, and one that informed Sony Music West Africa’s cautious approach to signing new and somewhat unproven acts. For deals that exceeded what the local office could support, they would escalate them to their global counterparts, as seen in cases of Shallipopi and Qing Madi’s eventual deals with Sony Music UK and US divisions.
“Those bigger offices can absorb risk better,” Banko explained. “They have massive artists bringing in good money. So, spending a little on ‘Afro’ isn’t a big deal to them. But for us, that could be our whole budget for the year.”
Beyond negotiations, revenue itself remained a recurring challenge for Banko. Streaming platforms pay royalties based on localized metrics, meaning that earnings from Nigerian streams were directly tied to the limited revenue power of the region; further compounded by the dominance of non-paying users over premium subscribers. Rather than lament these structural limits, Banko led Sony Music West Africa in targeting South Africa, East Africa, the UK, the US markets, and other diaspora hubs through deliberate marketing and PR campaigns.
“Our most successful artists, Gyakie and Mayorkun, now generate 80% of their revenue outside their primary market,” he noted.
Of course, that wasn’t a walk in the park, but Banko’s penchant to network across Sony’s global system was helpful. Annual global conferences brought together Sony executives from every region, and Banko seized such opportunity each year to forge relationships that would advance his agenda.
“I always used that opportunity to talk to the Latino guys, the US teams,” he said. “Because when I return to my market, I know who to call.”
Banko’s relationship with senior executives like Sylvia Rhone [Chairwoman & CEO, Epic Records] helped open doors for Sony West Africa in certain territories. In global markets, a few hundred thousand dollars to support an African act was a relatively small investment. But in a region where revenue streams remained fragile, that kind of support was game-changing.
Generally, even for artists outside Banko’s direct roster, the slow but steady traction laid by efforts like these helped change perceptions about the viability of African music beyond diaspora audiences. Banko’s navigation of the market was hardly about ambition, but about careful resource management and balancing the dream of building African stars with the cold economics of survival.
These challenges, I would chime, aren’t exactly peculiar to Sony as I believe its a reflection of the deeper economic issues affecting Nigeria’s entire music industry. “Nigeria needs to increase the value of its currency,” Banko adds. “We need to export more as a country…not just oil, but culture, technology, ideas. That’s actually what makes an economy stronger.”
So far, the reality is that the recorded music sector in Nigeria remains heavily dependent on streams with little income from live entertainment, publishing, or other ancillary rights that artists in more mature markets enjoy. On the surface, Nigerian artists generate impressive streaming numbers. Nigerian listeners are actively engaged, consuming local content at high rates and everything looks well on paper. However, the fundamental issue lies in the actual financial return on those streams.
“When you look at the numbers, Nigerians are really edging South Africa in terms of stream count,” Banko explained. “But our streams don’t really count for much in the grand scheme of things.”
Even when streaming platform reports seem to show encouraging figures, the truth is often concerning. “Spotify reported that they paid ₦58 billion to Nigerian artists last year,” Banko noted. “But if you break it down, you’d be surprised how much of that money actually came from Nigeria.”
Also, South African artists operate in a market where streaming royalties are bolstered by well-established publishing structures such as the Southern African Music Rights Organisation (SAMRO) and the South African Music Performance Rights Association (SAMPRA), while Nigeria lacks a similar system.
“That’s why Sony Music Publishing came into Nigeria,” Banko said, “to try and fix these things.”
So, for a company like Sony Music West Africa, whose primary income should ideally be generated within Nigeria and Ghana, this created an unsustainable dynamic. There was simply not enough money circulating locally to support heavy investments in new signings, as many people expected. This is why Sony Music West Africa adjusted its strategy early. Instead of blindly signing large numbers of local artists, the company focused on leveraging existing international Sony signees like Davido, Tems, Wizkid, Central Cee, ensuring that their catalogues were well-supported in the region.
“We support those guys well enough to give us sales,” Banko explained. “Because they’re not our direct repertoire, we don’t have to spend so much on marketing and production. Once those guys sell well, they give us money.”
“But say we sign an artist today,” Banko continued. “If they’re not making enough revenue from here [Nigeria], then we now have to start marketing them in London, the US, Germany... and honestly, we can’t even do it. Not every artist is going to get that international push. We have to be realistic in the kind of deals we do.”
For this reason, Sony Music West Africa adopted a highly selective approach to artist signings. Gone were the days when major labels threw money at any promising talent without carefully analyzing the financial sustainability of the deal.
“The artist might ask for a $100,000 advance; which in today’s economy is about ₦160 million,” Banko explained. “But then when the money is coming back, it’s $2000, maybe $3000... in one year?! How do you rationalize spending $100k and making back only a certain amount in an entire year?”
For Sony Music West Africa, it was clear that while Nigeria had cultural influence, it doesn’t yet have the financial ecosystem to support traditional major label business models. “A lot of people have lost money in the last three years because of this,” Banko admitted. “But people are wiser now. You don’t see deals flying up and down anymore because labels are doing their data analysis properly.”
ARTIST DEVELOPMENT ERA
While cautious investment strategies were necessary, Banko admitted that Sony did, at one point, attempt to build a deliberate artist development pipeline, but the realities of the market soon exposed just how difficult that model was to sustain.
“We tried it,” Banko said, reflecting on a specific period when the company decided to shift focus toward developing new talents from the ground up. “Nobody was going to sign with us because we don't have their money, so we thought, let's find the raw talents and develop them ourselves.”
At first glance, it seemed like simple logic of:
Identifying young, unsigned artists with potential
Nurture them carefully until they could stand shoulder-to-shoulder with bigger names.
However, Banko quickly learned that artist development - TRUE, THOROUGH artist development - is one of the toughest endeavors in the music business. “You almost have to camp an artist for a year,” he explained. “And that means constant investment - time, resources, personnel, infrastructure etc.”
Sony Music West Africa simply wasn't equipped for it. They did not even have a recording studio, which is a basic but critical piece of infrastructure needed to support an artist through an intensive development process. And while the intent was there, artist development was not a strategic priority for Sony's global system in the region at the time. “We realized that to do real artist development, we would have had to basically become an artist development label, and nothing else,” Banko said. “And we just didn’t have the resources, time, or personnel to do that properly.”
For perspective, Banko cited the work done by companies like Mavin Records and Jonzing World, both of which have earned reputations for intensive, hands-on artist grooming. “They have systems in place,” Banko said, admiringly. “You need one A&R per artist, people going to the studio almost daily, activities planned every week; from choreography training to live rehearsals to media grooming. etc”
At Sony Music West Africa, by contrast, the small team - at its peak only about five to seven people - was stretched thin already. Taking on full-scale artist development would have meant either dramatically increasing headcount, which wasn’t economically feasible given the limited revenue environment, or neglecting other essential operations. They did, however, make an attempt regardless. Sony signed a few emerging talents like Feline and Milar (Ayra Starr's brother and co-writer), trying to see if they could build success stories through a lean, minimalist development process but it quickly became apparent “we were doing development on a budget,” Banko said frankly. “And doing development on a budget is near impossible.”
Ultimately, after a period of experimenting, Banko and his team concluded that thorough artist development was not a viable path for Sony Music West Africa under existing conditions. “We explored it,” he said. “But it wasn’t successful, and we had to be honest about that.”
It was another instance of the hard, often unseen decisions that shaped Banko’s leadership which was characterized by balancing ambition with realism, and understanding when to pivot rather than pursue strategies that could threaten the fragile but growing foundation they had painstakingly built.
CULTURAL TUSSLE
Amidst the financial and operational complexities Banko was faced with while leading the major label, there were also cultural battles that came with working within the framework of a global major label system. When I asked Banko what he thought African music executives and artists often misunderstood about operating within a multinational label structure, he didn’t hesitate, “One thing for sure,” he said, “is processing times.”
Unlike in the independent world, where decisions and actions could happen within days or even hours, the machinery of a major label moves more slowly. “In the independent world, you can say 'yes' today and by tomorrow, there’s action,” Banko explained. “In the major label system, a 'yes' today might only be actioned three weeks from now.” This lag isn’t due to negligence or bureaucracy for its own sake. It’s simply the reality of operating within a large, interconnected system where every release, marketing campaign, and payment has to pass through multiple departments; such as production, business affairs, legal, marketing, finance, and operations - before it is finalized and executed.
Even basic financial processes, such as disbursing an artist’s advance, are subject to this timeline. “If you're going to get an advance, it doesn’t mean you’re going to collect it tomorrow,” Banko said. “Sometimes it doesn’t even mean you’ll collect it completely within a year. Sometimes you get 50% initially and 50% on delivery.”
This slower pace can cause friction, especially in Nigeria, where the business culture [across industries] tends to favour fast, cash-and-carry transactions. “Artists and their managers sometimes become restless,” Banko notes. “They spend the money in their heads before it’s actually disbursed. And when the money doesn't come in the first, second, or third week; it becomes a problem.”
For Banko, one of the subtler but key parts of his role became managing expectations - not just internally with his team, but externally with artists, managers, and even external collaborators like producers. “I've had to, on numerous occasions, school people on how this works,” he said. “Because when things take time, some people get angry. They threaten to pull out of deals or cancel activities, not realizing it’s just the standard process.” Understanding this rhythm and adjusting expectations accordingly was, Banko believed, necessary for anyone hoping to succeed within a global music system. “It’s important for executives and custodians of artists to understand this,” he said. “Because if they understand, they can better manage the artist’s expectations and contain the pressure.”
Last year, I’d personally witnessed how misunderstanding of such delay spiralled into unnecessary dispute, that ended up ruining the relationship and jeopardized the work everyone was trying to accomplish.
SONY MUSIC WEST AFRICA; POST-BANKO
Beyond reflecting on his own journey, Banko was thoughtful when considering the future of Sony Music West Africa following his exit. The next chapter of the company's story, he emphasized, would depend heavily on the mindset and approach of whoever would assume leadership. At the time of our conversation, Christel Kayibi is acting as interim General Manager, but the search for a permanent replacement was well underway. For Banko, the question is not about who would step in but about how they would approach the role.
“An understanding of how we got here would be very important,” he said.
Without grasping the challenges, sacrifices, and strategic pivots that built Sony Music West Africa’s current foundation, a new leader risked misinterpreting the company’s strengths - or worse, underestimating its vulnerabilities.
“For any strategy you want to introduce; whether it’s artist development, marketing, or whatever else, first understanding the operational history of the company is key,” Banko explained.
During his early months at Sony, Banko made it a point to learn as much as possible about the company’s evolution; reaching out regularly to his predecessor, Michael Ugwu, to understand both the successes and stumbling blocks. That groundwork, he believed, had given him the acumen to weather difficulties without becoming disillusioned.
“I never got frustrated on the job,” Banko said. “Because I took the time to understand where we were starting from; operationally, financially, talent-wise.”
This understanding shaped how Banko navigated the broader Sony Music system, particularly Sony Music Africa's relationship between West Africa and South Africa.
Unlike other executives who viewed the reporting line to South Africa with skepticism, citing a preference for Nigerian autonomy; Banko saw it differently.
“My boss in South Africa was very important to me,” he explained. “Their music industry might not have the biggest pop stars in the world, but the business structure there is way ahead of Nigeria’s.”
“Learning from South Africa helped me build a business that could survive,” he continues. “A lot of companies came and went. Some of our competitors who once had bigger offices than us slowed down. But we’re still here.”
Banko credits much of this durability to the spirit of collaboration and humility he fostered. “I always made sure we moved as one Africa,” he said. “Not Nigeria against South Africa; but one voice, one mission.”
He recounted small but telling examples of how patience and adaptability shaped Sony’s evolution in Nigeria.
“When I first started, let’s imagine all they could approve for my marketing budget per release is ₦2 million but instead of complaining, I worked with it. And after proving to them what we could do with such amount, they were confident to start approving tens and hundreds of thousands of dollars later on”.
According to Banko, it was one of the principles that shaped his strategy - “prove value first, then push for growth,” as he puts it.
For a company reborn from a single-room office to a multi-entity operation, Banko reiterates, “Understanding the history, challenges, systems is key. Only then can you move the company forward without falling into the same traps others fell into.”
BANKO’S NEXT MOVE
Banko’s exit from Sony had stirred curiosity and speculation about his next chapter. I have heard whispers, and thought to just reach Banko directly to confirm but somehow ended up here… 😅 [this entire piece wasn’t planned before making the call]
When I asked directly about his next move, Banko remained deliberately guarded, choosing his words carefully. “The actual for me is that I'm going back to basics,” he said. What’s clear, however, is the spirit behind his next venture, which stems from a desire to return to the core of artist building; to the painstaking but rewarding work of nurturing raw talent into future stars.
At a time when African music [and Afrobeats in particular] has ascended to unprecedented global acclaim, Banko sees both opportunity and responsibility. He envisions a future where, as Africa’s internet penetration and digital infrastructure improve, the continent’s music market will mirror the explosive growth seen in regions like Latin America over the past decade.
In this new chapter, Banko’s personal mission is to contribute meaningfully to the next phase of African music’s global journey.
“The impact I would love to have,” he explained, “is to build a growing pipeline - starting now, with this new venture, and seeing what it looks like in five years.”
But importantly, Banko’s immediate goal isn’t to chase global virality or hit international charts at all costs. “Going global is not Strategy 1,” he emphasized. “It’s just to break new artists first.”
He dubs it Artist Development 101, powered by the years of experience, lessons, and network he had amassed. The focus would be on creating a fertile environment where emerging talents could build strong foundations first, before seeking global attention. Beyond the artists themselves, Banko also sees this next phase as an opportunity to contribute to the broader ecosystem by developing people [read: professionals from A&Rs to marketers] as much as music.
“I want to give opportunities to as many talented people as I can,” he said, “giving them a real shot at breaking globally.” Banko spoke with particular pride about his ability to build effective teams, something he sees as a core, if often under-appreciated, skill.
“One thing I'm very good at, and I don't think I've ever said this publicly, is building teams,” he said. “I've always built teams to win.”
Referencing his years at Sony, Banko noted that almost every team member he worked with was personally handpicked; selected not just for credentials but for qualities he observed during interviews; some of which are hunger, understanding, adaptability etc. Banko’s next phase is heavy on building an entire ecosystem of talents and professionals equipped with the real skills, real understanding, and real resilience needed for African music to sustain its place across the world.
TRANSFERABLE LEARNINGS
As we began to wrap up, I asked Banko what he would carry forward from his years at Sony. More like the skills, systems, or philosophies that would define his next chapter and at the top of the list was organizational structure; the kind that supports people, reduces pressure, and allows ideas the time they need to mature.
“Processing times, even though they can be frustrating, actually help. They buy you time for planning,” he said. “That reduces pressure on everybody.”
In tandem with structure came an emphasis on financial planning. “In this business, you can spend more than you make in a day,” he said. “So proper financial accounting is very key. I’m not playing with that at all.”
Banko also highlighted the importance of Business and Legal; often treated as backend disciplines, but which in reality form the core of sustainable music operations. “Get great lawyers. Get great contracts,” he advised. “That’s how you build great business.”
And then, of course, there’s A&R; a skill Banko spoke about with precision. “A lot of people think A&R is just about finding music,” he said. “But that’s the easy part. The real challenge is getting the result.” He described the role as one that demands creativity, resourcefulness, and grit; whether it’s figuring out how to secure a feature from a Jamaican artist for a Nigerian single, or navigating the interpersonal nuances of helping talent evolve. “It takes you out of your comfort zone,” he said. “That’s when your real A&R skills come out.”
All of these lessons [ranging across structural, financial, human] are things Banko plans to take with him as his return to the “the basics” is rooted in the full weight of what he’s learned over the years.
FULL CIRCLE
When I asked what, if anything, he would change about the Nigerian music industry as a whole. “I would create avenues for more streams of income, especially local touring,” he said. “One of the ways to reduce pressure on everybody is to improve local touring.”
“If you fix local touring, you reduce the pressure on advances”
“Let these university gigs be worth something,” he said. “Artists should be able to go on campus tour knowing that after making expenses, there’s a system in place. Such that if they sell 5,000 tickets per school at ₦500, and get a percentage deal for each school, multiplying that by 10 universities would mean the artist should go home with a few millions.”
That kind of grassroots structure, he believes, would empower a different segment of the industry such as artists who may not have global visibility but are thriving locally. Right now, those acts often have no real path to financial security and rely heavily on label advances to survive. “If you fix local touring,” Banko argued, “you reduce the pressure on advances.”
As our conversation came to a close, I found myself circling back to the start - that one-room office at Landmark, the negative balance, the tiny team figuring it all out as they went. Going from such a modest beginning to the Sony Music West Africa we know today, it’s safe to say that Banko, in six years, built a blueprint for patient, principled leadership in an emerging market like West Africa where leadership must be rooted in service, not status.
Very insightful, foundational economic reality always catches us, from tech to the music industry the external dependence isn’t sustainable.
I wonder what informed the 2 artist signings though, considering the fact that there are artists who essentially have some sort of self-operation that would potentially have exponential impact from smaller budgets & label leverage, an artist with similar effect as blaqbonez comes to mind.
Absolutely agree with Banko's insights! The piece beautifully highlights the realities and potential of the Creative and Cultural Industries. His emphasis on building institutional credibility and navigating the unique economic landscape resonates deeply. The need for infrastructure and strategic investment to scale the broader CCI across Africa cannot be overstated. We need to focus on constructing lasting institutions and platforms that empower our talent and build a truly sustainable ecosystem for generations to come. This article is a crucial read for anyone passionate about the future of African creativity.