Nigerian singer Seun Kuti has stirred up the internet after revealing that his sister lost over ₦50 million in cryptocurrency.
The revelation was made in a video that has since gone viral on X (formerly Twitter) on Wednesday.
In the video, Kuti expressed his frustrations passionately, denouncing cryptocurrency as a scam and accusing its promoters of taking advantage of the poor.
He referred to it as a system that shifts wealth from the poorest to the wealthiest, comparing it to gambling.
He said: “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.”
Kuti also shared the personal toll it has taken on his family, saying, “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 has triggered a surge of reactions online, with numerous concerned individuals filling the comments section to express their views.
See some comments below…
@ARCHangel0_1: “She doesn’t know how to do crypto Oga. No day shout up and down, go and sit down.”
@olisaobioha: “Crypto is only a scam when you don’t understand how to approach it. Y’all buy any coin and come and cry.”
@icecyclone: “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: “If you don’t know, kindly ask questions oga. You don’t go into investment with ignorance, or greed.”
@lyndeloff: “Africa this Africa that… Like say dem design crypto to milk Africans…. Pan-Africanists do too much atimes.”
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