- Popular Nigerian singer, Seun Kuti publicly blasted cryptocurrency, calling it a scam that exploits the poor.
- Seun Kuti revealed that his sister lost over ₦50 million in a cryptocurrency scheme, sharing the emotional impact it had on his family.
- Seun Kuti described cryptocurrency as a “wealth transfer” from the poor to the rich, likening it to gambling and accusing its promoters of criminal activity.
- The video of Kuti’s passionate condemnation quickly went viral on X (formerly Twitter), sparking widespread reactions from concerned Nigerians.
Nigerian singer, Seun Kuti, has stirred up a wave of controversy after revealing that his sister allegedly lost over N50 million in a cryptocurrency investment scheme.
The shocking revelation was made in a viral video posted on X (formerly Twitter), where Kuti passionately condemned the crypto market, accusing it of being a scam.
In the video, Seun Kuti expressed his frustration and disbelief at the impact of cryptocurrency on ordinary Nigerians.
He strongly criticized cryptocurrency promoters, calling them “criminals” who exploit vulnerable individuals, especially 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 said.
He went on to describe the cryptocurrency system as a “scheme” designed to funnel wealth into the pockets of the wealthy, leaving the less fortunate at a loss.
Seun Kuti also shared a deeply personal account of the toll cryptocurrency has taken on 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.” he added.
The video quickly gained traction online, with many social media users voicing their concerns about cryptocurrency and its risks.
Netizens Reactions…
@ARCHangel0_1 said: “She doesn’t know how to do crypto Oga. No day shout up and down, go and sit down.”
@olisaobioha said: “Crypto is only a scam when you don’t understand how to approach it. Y’all buy any coin and come and cry.”
@icecyclone said: “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.”
@MRFLOYD_247 said: “If you don’t know, kindly ask questions oga. You don’t go into investment with ignorance, or greed.”
@lyndeloff said: “Africa this Africa that… Like say dem design crypto to milk Africans…. Pan-Africanists do too much atimes.”
@OGUCCHE said: “Ur sister has no brain to have invested 50m without diligence research.”
@glitch_8200 said: “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.”
@Elvissantaviou1 said: “This one doesn’t know anything about crypto. your sister was scammed by fake mentors, lol, same crypto weh I use buy house?”
See below;
“Crypto is a fcc*ing lie… My sister lost over 50 million to crypto”
– Seun Kuti pic.twitter.com/4oIgbORKMq
— @𝗼𝗻𝗲𝗷𝗼𝗯𝗹𝗲𝘀𝘀𝗯𝗼𝘆 (@OneJoblessBoy) January 29, 2025
