Damilola “Dapper” Akinwunmi, CEO of Dapper Music & Entertainment, has publicly denied allegations of exploitative contract agreements with artists, asserting that every artist received their contract in advance, had time to review it with legal counsel, and negotiated terms before signing. In a detailed statement, Akinwunmi invited an independent forensic audit to examine the company's financial records and contracts, vowing to accept the findings.
Contracts Were Negotiated, Not Imposed
Akinwunmi emphasized that the relationships with artists such as Seyi Vibez, Shallipopi, and T.I Blaze began in good faith. “Every artist was sent their contract in advance, with time to read it and take advice on it before anything was signed, and the terms were negotiated rather than presented,” he stated. He noted that Seyi Vibez was accompanied by his own legal counsel from the first meeting, and that Shallipopi had multiple witnesses present during the signing process. Akinwunmi also refuted claims that artists were unaware of what they signed, arguing that a person who negotiates terms, improves them, and operates under a contract for years without complaint “knows what he signed.”
Label Investments and Financial Realities
Akinwunmi detailed the substantial investments made by Dapper Music, including recording, production, marketing, and multiple music videos shot in Nigeria, South Africa, London, Dubai, and the United States. He revealed that two videos for one artist, shot in America, cost the company $52,000, and a single trip to the United States for recording camps and video shoots exceeded $200,000. “There was no show and no fee attached to it. That was money spent purely on making the work, long before anyone knew whether it would return,” he explained. He clarified that advances are recoupable, a standard industry practice, and that the investment exceeded earnings, leaving balances unrecouped. “These accounts do not show a label holding money that belongs to an artist. They show the opposite,” he added.
Masters Ownership and Legal Cooperation
Addressing claims about master recordings, Akinwunmi stated that ownership follows the money and risk: “When a label funds the making of a record, it holds the recording it paid for. That is not a Dapper invention.” He denied selling any artist's catalogue, asserting that ownership sits exactly where the agreements state. He also rejected allegations of forged documents, calling them “false” and verifiable. Akinwunmi confirmed that the company has cooperated fully with authorities and that a date for dispute resolution has been set through proper legal channels. He urged the public to let the facts emerge from the audit rather than from social media allegations.
