OBO’s jet. Source: Instagram.

DMW boss, Davido, has not been completely truthful about the ownership of the private jet he claimed to have bought, according to latest report circulating in media circle.

Concise News had reported few days ago that the singer announced that he had bought a private jet and he would be arriving Nigeria with it.

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This report has, however, been debunked by TheCapital.ng, who alleged that an exclusive source said the singer did not buy the jet.

OBO’s Jet. Source: Instagram.

The news outlet claimed that the jet was a “fractional ownership” aimed at giving Davido prominence.

Concise News gathered that what Davido announced was actually “fractional ownership” in which his financial commitment in the arrangement is meagre while the major financiers have chosen to play down their involvement to give him ‘conceded prominence’.

They further explained that the investors conceding prominence in the private jet ownership to Davido was part of a business deal to make Davido “very bankable in the showbiz industry.”

“This arrangement is to present Davido as a viable brand with a view to cornering lucrative deals from multinational businesses, countries and other foreign entities. The guys at the vanguard of the jet ownership narrative are said to have agreed on a sharing formula with Davido when the deals start coming in. The jet upon delivery would be deployed to Davido’s peripatetic needs and those of others in need of it,” reported TheCapitalNG.

The news outfit also claims to know the people involved in the jet ownership.