Nigerian singer Fido has accused his former record label, Inner Circle Entertainment, of withholding the bulk of his advance payment for his breakout single Awolowo.
In a recent radio interview, the Joy is Coming hitmaker alleged that out of a $20,000 advance, he received only about N1.5 million, claiming the label withheld as much as 95 percent of the funds.
“I was transparent with you guys. Even when I was with you guys, you took all my advance from me. The advance that I was given for Awolowo, you guys took 70% from it. What am I even saying? They took 95%. They just gave me only like N1.5 million out of $20,000. This is the first time I’m saying this, and it’s true. There are facts to all these things,” Fido said.
He explained that the financial dispute with Inner Circle was a major factor in the setbacks he faced in his music career.
“We’re working on the situation now, and what stopped whatever progress I was supposed to make was because of these issues I was having. People never knew that that was what I was facing,” he added.
Fido, who broke into the mainstream with Awolowo, began his career with Inner Circle Entertainment. He has also accused the label of a lack of transparency and withholding his music financial records.
Earlier this year, Fido stated that no one discovered him, insisting he carved his own path with God’s guidance.
In February, his current label, Oosha Records, announced a partnership with independent music company EMPIRE.