Don Jazzy’s Attempt to Sell Mo’hit Records

In the early days of Mo’hit Records, co-founder Don Jazzy tried to sell the label for 1 million naira. He recalled this attempt in a 2018 interview, revealing that he approached Nigerian music executive Obi Asika about the sale, but it didn’t work out.

Don Jazzy explained that the idea to sell Mo’hit came after D’banj’s single ‘Tongolo’ gained attention but didn’t bring in the expected money. They needed funds at the time, so they considered selling the label to Obi Asika, who owned Storm Records, one of Nigeria’s major labels.

Although Don Jazzy didn’t say why the deal fell through, it turned out to be fortunate. Mo’hit Records went on to become very successful, with stars like D’banj, Wande Coal, and Dr. Sid. Don Jazzy himself became a renowned label boss and music producer.

Despite the unsuccessful attempt to sell Mo’hit, Don Jazzy later sold a majority stake in his second label, Mavin Records, to Universal Music in 2024 for a deal reportedly worth around $150 million.