Nigerian huge title David Adeleke popularly known as Davido has prolonged been a cherished settle within the music commerce, known for his catchy songs and welcoming performances. Nevertheless, his popularity has been tarnished by a number of allegations of scamming his fans.
One of basically the most important conditions happened in June 2024, when he launched his cryptocurrency, $DAVIDO. Marketed as a formula to uplift his fans and the community, it rapidly became what many bask in known as a “pump-and-dump” contrivance, leaving plenty of fans feeling betrayed and financially devastated. Listed below are some vital allegations which bask in marred Davido’s popularity over the years.
The $DAVIDO Cryptocurrency Intention
Join the community $DAVIDO ! Extra spaces coming rapidly and you’ll be REALLY infected by who we purchased constructing next! @davidotoken_sol
— Davido (@davido) Could well per chance additionally merely 30, 2024
In June 2024, Davido excitedly launched his cryptocurrency, $DAVIDO, promising that it would profit his fans and the broader community. He closely promoted the project, attracting plenty of traders alive to to be portion of this fresh project.
Unfortunately, many fans invested their onerous-earned cash, often ignoring the warnings about capability scams. Soon after the open, the worth of the currency plummeted, leading to broad financial losses for plenty of traders. This incident sparked outrage among fans, who felt deceived by Davido’s alive to promotion.
The ₦218 Million Debt to Abu Salami
In 2023, businessman Abu Salami took to social media to accuse Davido of defaulting on a ₦218 million debt linked to a failed sports actions project. Salami claimed that Davido took the funds however disappeared, leaving him within the lurch. While the sing gave the look to be resolved privately, the final public nature of the accusations painted Davido in a destructive mild once again, elevating concerns about his financial dealings.
The ₦2.3 Billion Lawsuit from Amaju Pinnick
Later in 2023, but some other storm hit as Amaju Pinnick filed a staggering ₦2.3 billion lawsuit in opposition to Davido. Pinnick alleged that Davido breached a efficiency agreement for the “Warri Again” tournament. He claimed that Davido received ₦70 million however silent failed to advise up. This lawsuit no longer handiest raised eyebrows however additionally additional tarnished Davido’s image as a legit artist, especially among tournament organizers and fans who expected his dedication.
The Racksterli Ponzi Intention
In 2021, Davido came across himself in hot water again when he promoted a controversial investment platform known as Racksterli. Alongside diversified Nigerian celebrities, he inspired fans to make investments within the contrivance, which became later identified as a Ponzi operation. Many people misplaced their cash because the contrivance collapsed, and plenty of calls for accountability went unanswered. Followers felt betrayed no longer honest by Davido however additionally by the diversified celebrities who endorsed the platform.
The Festival of India-Lagos Cancellation
This isn’t the first time Davido has faced accusations referring to his commerce dealings. Reduction in 2016, he became booked to manufacture at the Festival of India in Lagos for a hefty price of ₦7 million. Nevertheless, he all straight away canceled his efficiency at the final minute and failed to earn cash aid. Followers and organizers had been left upset and excited, leading to lawsuits in opposition to him. The incident raised questions about his dedication to his guarantees and tasks to fans and tournament organizers.
