RE: BETWEEN MIKE EJEAGHA VS PREMIER RECORDS LIMITED: SETTING THE RECORDS STRAIGHT.

We have observed the controversy over setting the records straight as regards royalties and fairness to the legendary Pa Mike Ejeagha.

We would like also to set the records straight as regards the issues mentioned.

The company instituted a court case against the legendary Gentleman Mike Ejeagha sometime in 2006, basically for infringement purposes. The case was a fair one and was taken as a last resort because the marketer involved refused to come to the table for negotiations despite knowing there was an infringement.

After many years, it was agreed that the matter be settled out of court by both parties with the intervention of the then Enugu state government. There was an agreement signed by both parties in which Mr. Charles Ogbu might not have been aware of.

This agreement was signed in 2019. Based on the case and agreement, both parties through their legal representatives agreed that royalties due within the trial years would be forfeited to compensate for the legal cost the company was made to bear.Mr. Toju Ejueyitchie, the then Managing Director, had made several appeals and kept a very healthy relationship as attested to by Mr. Ogbu even after the case.

From 2019, the company has constantly paid out royalty as they come and report on earnings sent to the artist through the first son, Mr. Emmanuel Ejeagha.

We are committed to transparency and willing to share these royalty reports with permission from the Ejeagha family, as we consider this confidential between both parties for safety purposes.

The only outstanding royalty is that of last quarter of 2023 and first quarter of 2024. the last royalty paid was on the 22nd of December 2023 being the sum of N155,229.00 for the first to Third quarters of 2023.

This payment was made to the son’s account and report of breakdown of payments sent via mail. The sum of N475,000 was paid on the 22nd of November 2021 for a sample licensing by a prominent artist.

This represented a 50% share for publishing royalty from the deal. Prior to these, all outstanding royalties due to the artist after the court case had been paid. The family can confirm this.

As regards the 8% allegation, we find this very untrue. We reviewed all royalty rates for Masters and Publishing for all artists years ago, aligning with industry practices and the reality of things in the country. Contracts signed years back with an 8% share are no longer realistic. We are committed to fair royalty rates and suggest Mr. Charles Ogbu verify from the family.

We now pay 20% for Masters and 50% for Publishing as part of the three year review process. The family can verify all reports and payments.

There is no truth concerning the alleged fixed N30,000 quarterly payment. No record label pays a fixed amount except under specific terms. Royalty payments vary each quarter based on streaming performance. We have never paid Gentleman Mike Ejeagha a fixed N30,000 quarterly, as the numbers do not add up. Royalties are paid in foreign currencies based on current market rates, with the artist’s approval. All actions taken by the company are with the artist’s family consent.

Gentleman Mike Ejeagha trending every year as alluded by Mr. Ogbu is incorrect. Viral trends, like the song on Tiktok and other legal platforms, are part of our efforts to boost revenue for both the artist and the label. However, users like DSPs account for streams quarterly and pay out a month after accounting. The trending song, which started gaining traction last week, will only be reflected in our figures at the end of the next quarter.

We value our artists as family and maintain strong relationships with them. Our General Manager, Mr. Michael Odiong, visited Gentleman Mike Ejeagha some two months ago to reassure the artist and family of our commitment to royalty payments and exploring new revenue streams. this visit occurred before the recent events. The recent pictures posted by Mr. Ogbu were taken years ago, presenting a misleading impression.

Mr. Michael Odiong adheres to company policies and upholds our standards. However, he has recently been unfairly attacked. We urge the public to stop attacking his character and seek clarification from the company and the legal team.

We have copied Mr. Emmanuel Ejeagha on this statement to confirm our position and possibly confirm royalty reports sent to the family.

Signed
Management.