Don Jazzy clarifies sale of Mavin Records

Michael Collins Ajereh, aka Don Jazzy, has set the records straight about the alleged sale of Mavin Records, a record label he founded in 2012 following the closure of Mo’ Hits Records, a record label owned by him and his former partner, Dapo Oyebanjo aka D’Banj.

Last year, it was rumoured that Don Jazzy was considering selling Mavin Records or seeking external investment. The rumour brought to the fore, no doubt, discussions about the future trajectory of the label considered to be one of Nigeria’s most influential music brands. According to reports, there were bids from major players like Universal Music Group (UMG) and HYBE with valuation estimated between $125 million and $200 million with Shot Tower Capital, an independent investment bank facilitating the negotiation process.

But clarifying the issue, Don Jazzy revealed that the label had had investors for five years, but they were leaving and that would naturally open the doors for other interested investors. He said investors were bidding because they possessed valuable assets.

Mavin Record is home to recording artists, such as Divine Okubor, aka Rema; Oyinkansola Sarah Aderibigbe, aka Ayra Starr; Charles Chibueze Chukwu, aka Crayon; John Ighodaro, aka Johnny Drille; Ladipo Eso, aka Ladipoe; and Alexander Adelabu, aka Magixx. It also houses producers such as Don Jazzy himself and five other in-house producers.

In 2014, Nonso Temisan Ajufo, aka DJ Big N, became the label’s official disc jockey. Tiwa Savage, Oluwatobi Wande, Ojosipe aka Wande Coal, Ayoleyi Hanniel Solomon, aka Reekado Banks and Iyanya Onoyom Mbuk were all formerly signed to the label.

In 2019, Mavin Records secured a multi-million dollars investment from Kupanda Holdings, a subsidiary of Kupanda Capital and TPG Growth. The label has received numerous accolades, including the MTV Africa Music Award for Best Record Label in 2013 and 2014.