Paulo responds to Spyro’s claim of not earning a dime under his label

Paulo Okoye, the showbiz promoter and founder of One Africa Music Fest, has responded to Spyro’s recent claims that he never earned a dime while signed to his record label.

In an interview with Echoroom, Spyro alleged that he was signed to Paulo’s label but never received any payment.

The singer claimed he had to borrow money from his former record label boss whenever he needed it.

“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.