By Oratokhai Jesusemen O.
Mo’hit Records co-founder Don Jazzy revealed that he once tried to sell the label in its early days for 1 million naira. In a 2018 interview on Bounce Radio, Don Jazzy recounted his attempt to sell Mo’hit Records, which he co-founded with Afrobeats legend D’banj, for the modest sum.
When asked about this attempt, Don Jazzy confirmed that he did try to sell the label to renowned Nigerian music executive Obi Asika. This decision came after D’banj released the single ‘Tongolo,’ which garnered some mainstream attention but did not generate the expected financial returns.
Don Jazzy explained that the need for immediate funds influenced the decision to approach Obi Asika, who at the time was the founder and head of Storm Records, one of Nigeria’s leading music labels. Although the deal with Obi Asika didn’t materialize, this turned out to be a blessing in disguise. Mo’hit Records went on to achieve massive success, boasting an impressive roster of artists including D’banj, Wande Coal, Dr. Sid, D’Prince, and K Switch. Don Jazzy himself became a celebrated music producer and a highly successful label executive.
Mo’hit Records eventually disbanded in 2012 after nearly a decade of dominating the Nigerian music scene. Despite the unsuccessful attempt to sell Mo’hit Records, Don Jazzy later sold a majority stake in his second record label, Mavin Records, in 2024 to global music giant Universal Music. This deal was reportedly valued at around $150 million.
