Sharon Ademefun, elder sister and Chief Financial Officer of Afrobeats star David Adeleke, popularly known as Davido, has disclosed how she helps manage the singer’s finances and keeps an eye on his spending on luxury items.
Ademefun said she holds regular financial meetings with Davido to review his spending and encourage him to exercise restraint, particularly when it comes to expensive cars and jewellery.
She made this known during an appearance on The Morayo Show hosted by television presenter Morayo Afolabi-Brown, which was posted on YouTube on Tuesday.
According to her, the meetings are designed to ensure that Davido understands how his money is being spent and to promote greater financial discipline.
“Me and Davido sit and have a finance meeting every week because I think it is important for him to know how his money is being spent. I will now say, ‘David, please, no more cars,’” Ademefun said.
However, she admitted that her brother does not always heed her advice and can still make major luxury purchases shortly after their discussions.
“No more jewelry. 24 hours later, you know how they normally say it, ‘2 to 3 business days’, I’ll just see on the blogs. This latest car.”
Ademefun also explained that her involvement in Davido’s career dates back to the early stages of his professional journey. She said her current position as his financial officer developed naturally from her previous involvement with his management.
She recalled that their professional relationship was sometimes marked by disagreements because she was prepared to challenge her brother whenever she believed it was necessary.
“The problem is that me and David were always fighting. If other people can’t tell him, me I’ll tell him. And so, I think the truth of the matter is it was a natural progression.
“I think that we both needed to go off and do our own things. And now I can take what I’ve learned in business and then help him put structure into his business. So, it’s just more official.”
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When asked whether she was the person with detailed knowledge of Davido’s wealth, Ademefun declined to disclose such information, citing a non-disclosure agreement.
“I’ve signed a non-disclosure agreement! I can’t confirm or deny!” she said.
She further revealed that Davido has a management team responsible for his everyday logistics, although she occasionally steps in when she believes attempts to reduce expenses could compromise his comfort.
Ademefun gave an example involving air travel, saying efforts to cut costs could sometimes leave Davido dissatisfied with his arrangements.
“You know, if you book him on an airline that doesn’t have a good first class, he can get to the airport and say, ‘Yeah, if you want me to go to an event, buy first class’… I’ve bought a ticket at the airport many times.
“Because maybe they tried to cut corners or cut costs somewhere. So, there’s lots of funny things.”
Away from her role in Davido’s business affairs, Ademefun also discussed her personal business, Body Politics, a clothing brand she said was created after she became frustrated by the limited options available to women with different body shapes.
The brand offers clothing in sizes ranging from XXS to 5XL, according to Ademefun.
She said she was not interested in expanding the business recklessly, choosing instead to strengthen its existing operations before pursuing bigger opportunities.
“I think the next big thing is to do what I’m doing better. I don’t want to make the mistake of over-expanding too quickly, but I think you’re going to see more of me, more pop-ups, and more availability,” she said.