The 25 years-old songwriter and also an afro-beat singer, disclosed this in a video posted on his instagram page citing pursuing other opportunities as his reason.
“Growing forward, Banks Music,” he wrote as the caption of the video unveiling the label.
He also revealed that a creative agency known as Probot will be his new management company.
Banks had previously announced his depature from Don Jazzy’s Mavin Records, five years after the label discovered him.
Joining the @mavinrecords family was the best thing to have happened to me in the last decade. @donjazzy took me in and treated me like his own son. I’ll be eternally grateful to him for sacrifices he made towards the growth of my career.
“Thank you all for all the times you’ve lifted me at my lowest moments, for the support, the amazing hits and most especially, the LOVE. Taking this bold step and moving on from Mavin Records onto bigger opportunities is something that, though not easy, is absolutely necessary because of my growth.
“I am very ecstatic about what the future holds and I cannot wait to share with everyone what new opportunities have come. Long Live Mavin Records.”
Banks began his career in 2008 and became a part of the Mavin family in 2014 and has a degree in History and Strategic Studies from the University of Lagos.
He won the Headies next rated award in 2015 and was the eighth Nigerian to become verified on Instagram.