After 10 fruitful years at the helm of affairs, Chocolate City CEO, Audu Maikori, has finally stepped down.

The lawyer who founded the record label in 2005, along with with Paul Okeugo and Yahaya Maikori, was instrumental in growing it to become one of the biggest and most successful urban labels in Africa.

A new CEO has taken over with immediate effect, and that is no other than Jude Lemfani Abaga aka M.I Abaga. M.I joined Chocolate City in 2006, and prior to this, served as a Vice President of the record label.

The move to announce M.I as the new CEO has been speculated for many weeks after Audu Maikori first announced his resignation as CEO in April, at the Nigeria Entertainment Conference. But no confirmation was given at the time.

M.I's assumption of CEO duties leaves a void at the Vice President position which has been quickly occupied by fellow labelmate and Hip-hop artiste, Ice Prince Zamani.

The announcement of Ice Prince Zamani as a management executive of the record label is sure to take many by surprise, as there are quiet rumors that the award-winning rapper is heading for the exit. Ice Prince already owns his label imprint, Super Cool Catz, and also has his head in merchandising enterprises.

This move continues a period of sweeping changes for Chocolate City who restructured their operations by expanding their artiste base via annexing the defunct Loopy Music.

The label is home to fourteen music acts which include M.I Abaga, Ice Prince, Jesse Jagz, Ruby Gyang, Pryse, Koker, Milli, Loose Kaynon, Victoria Kimani, Kahli Abdu & VHS Safari, Nosa, DJ Caise, and Dice Ailes. Chocolate City also handles the management of Afrobeat star, Femi Kuti.

The group currently have a compilation album titled 'The Indestructible Choc Boi Nation'.