Damilola “Dapper” Akinwunmi, chief executive officer of Dapper Music and Entertainment, has rejected allegations of financial mismanagement, contract irregularities and exploitation made by some of the company’s former artists, insisting that the company invested more in their careers than the revenue generated has so far recovered.
In his first detailed response to the latest accusations, Akinwunmi said the financial position of the disputed artist accounts was the opposite of what has been portrayed publicly.
“The investment exceeded the earnings, the balances remain unrecouped, and what is outstanding is owed to the company, not by it,” he said.
Akinwunmi’s response comes amid renewed scrutiny of Dapper Music following allegations involving former artists including Shallipopi and Seyi Vibez. The dispute has centred on contracts, financial transparency, ownership of recordings, catalogue revenues and the extent to which the label recouped money spent on developing and promoting its artists.
The Dapper Music CEO said the public debate had increasingly relied on social media claims rather than contracts, accounting records and other documents. He said he had remained silent for an extended period because he believed commercial disputes should be resolved through established business and legal processes.
