Jude ‘MI’ Abaga, the Nigerian rapper, has lamented the prevalence of “internet fraud funding in the country’s music industry”.
In a recent interview on the So Nigerian podcast, MI claimed some artistes rely on proceeds from cybercrime, popularly known as Yahoo Yahoo.
The rapper argued that internet fraud has become a major source of investment for up-and-coming artistes.
MI said this shows the lack of proper funding structures for the creative sector.
“What I’m trying to say 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 this other industry.
“It’s an indictment. It shows that something is wrong. Hopefully, we can do better. Think about it, let’s even say I’m a Yahoo boy, I’m not, but let’s say I was and I just made N100 million. Okay, I’m now a criminal who made N100 million but still don’t have to give it to an artiste, I can blow it however I want, or I can put it in real estate.
“Society will criticize the method of legal money, but what is relevant is that there are other young people who have money and are just trying to help because they’re seeing their talented friends, and that is a statement about Nigeria.”