Davido: OBO was involved in financial scandals five times, fans lost money twice

• Wizkid’s new dispute with Davido amid rumors that it centered around the latter’s new deal with global clothing brand Puma has divided netizens
• While several 30BG fans defended Davido’s ability to promote brands better than Wizkid, another side accused the DMW label boss of promoting scams to the detriment of his fans
• In this article, Legit.ng lists instances where Davido was involved in financial scandals that made headlines

Nigerian International Actor Ayo Balogun Wizkid’s new feud with a series of dramas surrounding the birth of his pal David Adeleke Davido during the week.

Wizkid, who described Davido as talentless and stupid, extended the dispute to his associates and family members. The Starboy Entertainment frontman has thrown subtle shade at OBO’s uncle and Osun State Governor, Ademola Adeleke.

In one of his conversations with Davido’s collaborator on

Wizkid’s revelation caused confusion, with fans taking sides. About 30BG insisted that their favorite was a better brand promoter than his colleague, citing his success with some foreign brands.

Amid the drama, some netizens also claimed that Davido will accept any brand regardless of whether it is a scam.

Legit.ng the article listed instances where Davido was embroiled in financial scandals where his fans lost their hard-earned money twice.

1. Davido releases a meme coin

In June 2024, the Unavailable boss ventured into cryptocurrency by launching his $Davido meme coin with a promise to uplift his fans and community.

However, it turned out to be an alleged scam in the cryptocurrency world, known as a pump and dump scheme, as several fans took to social media to lament the loss of money.

Legit.ng recalls a report that the Securities Exchange Commission (SEC) warned the public against investing in meme coins, including $Davido, labeling them as highly risky.

2. Davido allegedly takes N7m without performing

In 2016, the owner of the DMW label made headlines after he was accused of pocketing $7 million for a performance at the India-Lagos Festival.

He is said to have canceled the show at the last minute without a refund. Reports indicate that lawsuits began following his action.

3. Davido promotes Racksterli

After the Covid-19 era that kept millions of people at home, Davido, along with several Nigerian celebrities, has returned from “Racksterli”, which in 2021 was tagged as a Ponzi scheme.

Under his influence, several Nigerians and his fans have lost their investments and many are still calling for justice which has not yet been resolved.

4. Businessman Abu Salami calls Davido

The year 2023 is another era of dramas between businessman Abu Salami and the owner of the DMW label.

Abu Salami has summoned Davido to pay a N218 million debt related to an alleged failed sports project.

The businessman accused Davido of taking the funds and threatening him.

Although the issue seemed to have been resolved on social media, Abu Salami is currently the president of the music star Burna Boy’s football club.

5. The case of Davido and Amaju Pinnick

Moreover, in 2023, Davido and former president of the Nigeria Football Federation, Amaju Pinnick gained popularity on the Internet.

OBO has been sued for N2.3 billion for breach of performance contract during “Warri Again”, an annual event held in Delta State.

Pinnick claimed that Davido collected N70 million and still failed to show up at the event. The problem was solved outside of social media.

As part of the agreement reached, Davido, who will pay N30 million in compensation, is said to have agreed to perform at the ‘Warri Again 2024’ concert for free.

Amid various financial scandals and allegations against Davido, controversial critic Martins Otse aka Verydarkman, popular for speaking out against celebrities involved in dirty schemes, has never commented on Davido.

Recall that the new VDM drama with Bobrisky, which involved prominent lawyer Femi Falana and his rapper son Falz, began as a result of the crossdresser’s refusal to repay $4 million borrowed from a friend who reported him to a critic.

Davido shares songs about his blessings

Meanwhile, Legit.ng reported that Davido may have slapped Wizkid during their new feud, which caused a stir online.

Davido, while celebrating his co-worker’s birthday, seemed to have responded to Wizkid by including a snippet of his song “The Godfather.”

The song was about his blessings and message to his haters.

Source: Legit.ng