Renowned Nigerian rapper Jude Abaga, popularly known as M.I Abaga, has alleged that a portion of the financial support sustaining the country’s music industry is coming from individuals involved in internet fraud, commonly referred to as “Yahoo boys.”
Speaking during an episode of the So Nigerian podcast, the hip-hop star expressed deep concern over the funding structure of the industry, stating that a large share of investments behind many rising artists stems either from foreign sources or fraudulent activity.
“There’s a lot of controversies when people talk about Yahoo Yahoo, because a lot of artists that is the funding that they have. What I’m trying to say now is that, it’s an indictment on our country that we have such talented musicians and that the major funding for the industry comes from the West and the fraud industry. It’s an indictment. It shows that something is wrong. Hopefully, we can do better,” he said.
M.I described the trend as a negative reflection of Nigeria’s creative economy, arguing that an industry as vibrant as music should not be so dependent on questionable or external financing.
He also urged wealthy Nigerians and industry stakeholders to invest more in homegrown talent, pointing out that many upcoming musicians often rely on help from fellow young people rather than established investors or institutions.
