Music Executive Paulo Okoye Responds to Spyro’s Financial Struggles Allegations

Music executive Paulo Okoye has hit back at singer Spyro, who recently claimed that he faced financial struggles when he signed with Okoye’s record label. In a series of statements, Spyro accused Okoye of failing to support him financially during his time with the label, even going so far as to say that he had to take out a loan to sustain himself.

Spyro’s Claims: Financial Struggles Under Okoye’s Record Label

In his allegations, Spyro stated, “I was signed to a record label owned by a billionaire who owns like 3 Rolls Royce… but I was signed and nothing was happening. I wasn’t even getting a dime.” The singer criticized Okoye for what he described as poor label management, suggesting that he was left to fend for himself without earning any money.

Paulo Okoye’s Response: Proof of Support with Detailed Expenses

However, Paulo Okoye has strongly refuted these claims. To set the record straight, he shared detailed receipts on his Instagram stories, showing the significant amount of money he invested in Spyro. According to Okoye, he spent a total of N12 million on the artist, which included N4.2 million in expenses, two music videos, and Spyro’s first international trips to Dubai and the UK.

In his Instagram post, Okoye shared a breakdown of the expenses, saying: “Wow wow – 2017. Spyro expenses 4.2m + 2 music videos + first ever travel, Dubai, UK etc. Flight, hotel etc. Total spend N12m. Money made with Spyro = 0 Kobo Naira. But it is well, I’m happy for him.”

Okoye’s response provides clear evidence of his financial investment in Spyro’s career, despite the allegations of mismanagement. The music executive expressed his satisfaction with Spyro’s success and showed no ill will, despite the financial challenges that marked their partnership.

In conclusion, while Spyro’s claims suggest dissatisfaction with his time at Okoye’s record label, the evidence shared by Okoye highlights his substantial financial commitment to the artist’s growth and career development.