Ubi Franklin has finally granted his tell all interview and is spilling dirt about former partner and label mate, Iyanya.
Recall Iyanya granted an interview telling the world that Ubi Franklin swindled him, without giving him money from the business they co-owned together.
Ubi Franklin is telling the world his own truth and what happened before the drama began. According to Ubi, when they were to start the company, Made Men Music Group, Iyanya categorically stated that he was only interested in singing and wanted Ubi to handle the business side of the label.
So, when registering the business, Ubi had to add the names of his brothers as shareholders in order to get the documents approved by CAC (Corporate Affairs Commission). According to Ubi, Iyanya's single ‘Kukere’ was gaining attention but they needed money to shoot a video and also push the song, so they resorted to borrowing money from Access Bank.
The Manager of Access Bank, upon seeing their business documents, refused to grant them the loan because Iyanya's name was missing from it. At that point, Iyanya realized that he should have been more invested in the business part since he was the known face of the company which was just starting.
Ubi's brothers relinquished their shares and they drafted a new company document, making Iyanya and Ubi equal shareholders in the company with 50% each. They went back to take the loan and Freda Francis, who was Iyanya's girlfriend at the time, stood in as their security to help them acquire the loan.
This explanation by Ubi Franklin contradicts what Iyanya said earlier about being left out of the business.
Who do you think is lying; Ubi Franklin or Iyanya?