The house which is located along Admiralty Way, Lekki Phase 1, Lagos is where popular singer lives.
The fire started in 6 am on Tuesday, February 28, 2017 which was allegedly caused by faulty air conditioner.
The singer was said to have started quenching the fire before his neigbhours joined him but their joint effort was not enough.
The officials of the Fire Service were said to have arrived the scene of the fire by 7.30 am and helped to stop the fire.
Banky W was said to have lost a lot of things including his music awards among other things.