One Africa Music Fest founder and showbiz promoter Paulo Okoye has responded to Spyro’s recent assertions that he never made a dime while he was signed to his record label.
Spyro claimed in an interview with Echoroom that despite being signed to Paulo’s label, he never got paid.
According to the singer, everytime he needed money, he had to borrow it from his former boss at the record firm.
“Myself and my partner, we were signed to a record label. My record label was owned by a billionaire, he had about three Rolls Royce. I was signed and nothing was happening, I was not even getting a dime,” he said.
“If I needed money, I had to go borrow money for him to return. I mean he is a nice person, but I do not think he understands the label business as at then, I do not know about now.”
In his reaction via Instagram, Paulo shared a screenshot of the expenses incurred on Spyro during his time at the label in 2017, totaling N12 million.
He disclosed that the amount covered expenses such as music videos, travel, and accommodation.
Paulo argued that despite investing heavily in Spyro, he didn’t make any money from the singer.
“Wow @spyro_official. Wow wow 2017 Spyro expenses. N4.2m + 2 music videos. First ever travel Dubai, UK etc. Flight, hotel, total spent N12m. Money made with Spyro, zero kobo naira. But it is well, I am happy for him,” he wrote.
