Nigerian singer, Seun Kuti has sparked controversy with his revelation that his sister allegedly lost over N50 million to a cryptocurrency investment scheme.
Seun Kuti made the shocking revelation in a viral video posted on X (formerly Twitter), where he passionately criticized the crypto market, labeling it a scam. In the video, he voiced his frustration and disbelief over the devastating impact of cryptocurrency on ordinary Nigerians.
He fiercely condemned cryptocurrency promoters, branding them as “criminals” who prey on vulnerable individuals, particularly the poor.
“Crypto is a lie. You people are criminals trying to steal from poor people. It’s nothing but a wealth transfer from the poorest to the richest, just like gambling.”
“You all promote it, you push it, but it’s all about wealth transfer. You’re all part of this plan to shift wealth from the poor to the pockets of the rich.”
“There’s no freedom in crypto. More Africans have lost money to this than those who have made a profit from it.”
He further described the cryptocurrency system as a “scheme” engineered to enrich the wealthy while leaving the less fortunate at a loss.
Seun Kuti also shared a personal account of how cryptocurrency has directly impacted his own family.
“You know how much my sister has lost to crypto. I’ve been warning her, but she didn’t listen. I can’t even tell you how much I’ve lost—over ₦50 million. My sister, my own blood sister—this is how many Nigerians have lost millions.”
The video quickly went viral, sparking widespread debate as social media users shared their concerns about cryptocurrency and its potential risks.
One lyndeloff wrote: “Africa this Africa that… Like say dem design crypto to milk Africans…. Pan-Africanists do too much atimes.”
One Ogucche wrote: “Ur sister has no brain to have invested 50m without diligence research.”
One Glitch wrote: “It takes 2 bull runs to be rich in crypto, which is 5 years of learning and extreme patience… Do not invest in anything without first, taking time to learn… My advice to your sister is for her to first and foremost go and read the Bitcoin white paper before anything else.”
One Elvissantaviou1 one: “This one doesn’t know anything about crypto. your sister was scammed by fake mentors, lol, same crypto weh I use buy house?”
One ARCHangel wrote: “She doesn’t know how to do crypto Oga. No day shout up and down, go and sit down.”
One Olisaobioha wrote: “Crypto is only a scam when you don’t understand how to approach it. Y’all buy any coin and come and cry.”
One Icecyclone wrote: “He is talking about something he knows little or nothing about, and he is wrong. Most people go into crypto and stock trading without knowledge, and they get burnt.”
One Mrfloyd_247 wrote: “If you don’t know, kindly ask questions oga. You don’t go into investment with ignorance, or greed.”
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