When I first heard this story I was like, N160million from where? #longthing! lol.
So here's what happened. When he hit the scene in 2006, he was signed to a music label called Colosal Entertainment. In 2007, Soul E left the record label and they sued him for breach of contract. The case went to court in Oct 2007 and only just concluded recently.
The record label won the case and Federal High Court, Lagos has ordered that the singer pay the label the sum of N168, 486, 320 and five more albums to complete their agreement.
The agreement, which was signed in 2005, states that Soul E will release 6 albums under Colossal Records, and so many other things which the singer agreed to and signed. The label claim they spent millions on Soul E in the two years he was with them and want their money back. And unless Soul E pays Colossal that money and give them the 5 albums, he can never perform on stage again as Soul E.
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