If what is getting to Nollywoodgists.com is anything to go by, then, all may presently not be well between Jude Abaga, who is better known as MI, and his Audu Maikori led record label, Chocolate City.

According to the gist making round, the self-acclaimed Africa's number one rapper is set to launch his own record label.

From what Nollywoodgists.com gathered, the short dark dude from Jos has concluded plans to launch his Loopy Record Label on Saturday, March 3, 2012, which we learnt is located around Gbagada area of Lagos State.

Unconfirmed reports said there is a strain between the once smooth working relationship between MI and Chocolate City Label boss, Audu.

Chocolate City has under its label Ice Prince; Jesse Jagz, who is the younger brother of MI; Brymo and MI. We could not confirm if other acts under Chocolate City would join Loopy Record having joined Chocolate City through MI.