Popular Fuji musician Taye Adebisi, widely known as Taye Currency, has revealed that he lost N10 million to the collapsed Ponzi scheme known as CBEX.
The Ibadan-based artiste made the disclosure during a live performance, a video of which has since gone viral online.
Taye Currency alleged that he was lured into the investment by four close associates identified as Sodiq, Small London, Lateef, and another unnamed individual. He further stated that the fraudulent scheme also cost his friends and band members millions of naira.
“You will hear how CBEX took away over N20 million from me and people close to me,” he said during the performance.
“On April 1, Sodiq came to my house and said Lateef, the brand manager, had collected some money and also introduced Alaba and one other brother to it. Alaba even used N1.2 million he stole from the stage to invest. Brother Muka also put in his work fee—N500,000. Lateef invested N1.4 million,” he sang.
The singer explained that he was drawn into the scheme after hearing testimonies from some of his band members who claimed to have benefited from it.
“Lateef said he used N200k to collect N600k. That was what pushed me. I withdrew the money I had saved with insurance and invested it on April 1, but everything vanished,” he added.
Taye Currency said he chose to speak out about his loss to ease the emotional burden and avoid health complications such as high blood pressure.
He ended his remarks with strong words for those who encouraged him to join the scheme, stating, “If they die well, they won’t rest well.”
