In a surprising revelation, Don Jazzy, co-founder of Mo’hit Records, disclosed that he attempted to sell the label for a mere 1 million naira in its early days. During a 2018 interview on Bounce Radio, Don Jazzy confirmed that he tried to sell Mo’hit Records to Obi Asika, founder of Storm Records, due to financial constraints.
At the time, D’banj’s single “Tongolo” had gained popularity but didn’t generate the expected income. Don Jazzy and D’banj needed funds, leading to the attempted sale. However, the deal fell through, and Mo’hit Records went on to achieve immense success, signing notable artists like Wande Coal, Dr. Sid, and D’Prince.
Although the label eventually dissolved in 2012, Don Jazzy’s second label, Mavin Records, found success, with a majority stake sold to Universal Music in 2024 for a rumored $150 million. This near-miss sale serves as a reminder that even the most successful endeavors can have humble beginnings.
