Davido’s Sister Opens Up on Efforts to Curb His Luxury Spending

Sharon Ademefun, the elder sister of Nigerian music star Davido, has given an insight into the financial structure behind her brother’s music business and the challenges involved in managing the singer’s spending.

Ademefun, who is the Chief Financial Officer of Davido Music Worldwide, made the disclosure during an appearance on The Morayo Show with television host Morayo Afolabi-Brown.

Speaking about her responsibilities, she revealed that she and Davido hold financial meetings every week. She said the meetings are designed to keep the singer informed about his finances and how his money is being allocated.

According to Ademefun, one of the recurring issues she raises during their discussions is Davido’s spending on luxury vehicles and jewellery.

She recalled telling her brother, “David, please, no more cars,” only to discover shortly afterwards through media reports that he had acquired another vehicle.

She similarly said she has warned him about buying more jewellery, but acknowledged that such conversations do not always stop the singer from making expensive purchases.

Ademefun said her relationship with Davido has also involved disagreements because she is prepared to tell him things other people may hesitate to say.

“The problem is that David and I were always fighting. If other people can’t tell him, me I’ll tell him,” she said.

She explained that she had been involved in Davido’s career from its early years and that her current financial role developed from her previous experience within his management structure.

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According to her, both siblings eventually went their separate ways professionally before her business experience became useful in helping to create more structure around Davido’s operations.

Ademefun was also asked whether she knew the exact extent of Davido’s wealth. She responded that she could not disclose such information because she had signed a non-disclosure agreement.

“I’ve signed a non-disclosure agreement! I can’t confirm or deny!” she stated.

She further revealed that Davido has a dedicated management team responsible for handling his everyday logistics. However, she sometimes intervenes when cost-cutting efforts result in arrangements that do not meet the singer’s expectations.

Using air travel as an example, she said there have been occasions when she had to purchase a first-class ticket at the airport because cheaper arrangements had been made for Davido.

Beyond her work with the singer, Ademefun also spoke about her fashion company, Body Politics. She said the brand was created partly because of the limited clothing options available to women with different body types.

The clothing line currently caters to sizes ranging from XXS to 5XL.

Ademefun said she is taking a cautious approach to business expansion, preferring to strengthen the company’s existing operations before expanding significantly. She added that customers can expect more pop-up events and wider product availability.