Don Jazzy Almost Sold Mo’Hit Records for 1 Million Naira

Don Jazzy, co-founder of Mo’hit Records, once tried to sell the label for 1 million naira in its early days.

In a 2018 interview, he shared that he attempted to sell the record label, which he started with Afrobeats legend D’banj.

This attempt happened after D’banj’s single “Tongolo” gained some attention but didn’t bring in the expected revenue.

Don Jazzy revealed that they needed money urgently, which led him to approach Obi Asika, a renowned Nigerian music executive, about selling Mo’hit. Obi Asika was then leading Storm Records, one of Nigeria’s top labels. However, the deal did not happen.

This failed sale turned out to be a blessing. Mo’hit Records went on to become very successful, producing stars like D’banj, Wande Coal, Dr. Sid, D’Prince, and K Switch. Don Jazzy himself became a prominent label boss and celebrated music producer.

Mo’hit Records eventually broke up in 2012 after nearly a decade of success in the Nigerian music scene. Despite the early setback, Don Jazzy continued to thrive in the music industry.

In 2024, he successfully sold a majority stake in his second record label, Mavin Records, to Universal Music for an estimated $150 million.