A federal high court in Ikoyi, Lagos, has adjourned proceedings until April 20, 2026, in a lawsuit alleging fraudulent conversion and breach of fiduciary duty against Aristokrat Records and its founder, Piriye Isokrari.
The legal battle stemmed from a dispute over the sale of
Burna Boy’s early catalogue.
960 Music Group, a minority shareholder, initiated a legal
action to overturn the multimillion-dollar sale of the singer’s catalogue from
his former label, Aristokrat Music, to his current company, Spaceship Music.
According to court filings, Aristokrat Music sold the
intellectual property and master recordings from Burna Boy’s foundational years
to Spaceship Music — owned by the artiste and his mother-manager, Bose Ogulu —
in a transaction dated May/June 2024.
960 Music Group, which holds a 40% equity stake in
Aristokrat Music, claimed it was completely sidelined.
Following the sale, 960 Music Group filed a suit seeking to
nullify the transaction. The dispute has since escalated, leading to criminal
charges against Isokrari.
The Force Criminal Investigation Department (FCID) accused
him of diverting proceeds from the multi-million dollar sale away from the
company’s official accounts, thereby defrauding 960 Music Group of its share.
On Wednesday, the case was again stalled after Isokrari
failed to appear in court. Sources close to the matter said the repeated delays
have become a source of frustration.
The matter was first called in December 2025 and adjourned
to February 10, 2026 — dates on which neither the defendant nor his legal
representatives appeared.
The court has now fixed April 20 for the next hearing.
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