Taye Currency Loses N10M to CBEX Crash, Curses Associates Who Introduced Him to the Scheme
Popular Ibadan-based Fuji star, Taye Currency, has become the first Nigerian celebrity to openly admit falling victim to the recent crash of CBEX, a now-defunct Singapore-based digital trading platform that reportedly swallowed a staggering N1.3 trillion in investors' funds.
The dramatic confession came during the singer’s live performance over the weekend, where he vented his heartbreak and frustration in a viral video now making rounds on social media.
🎙️ "It Shall Not Be Well With You!" — Taye Currency Blasts Associates
In an emotional outburst, the Fuji icon revealed that he invested N10 million into CBEX on April 1st, after being convinced by close associates including his band manager and friends.
“If I don’t speak out, I might develop high blood pressure,” he lamented in Yoruba. “They were the ones in charge of my money. That very day I put in N10 million and it crashed. It shall not be well with all of you that introduced it to me.”
According to Taye, four of his crew members—Sodiq, Alaba, Lateef, and Muca—also invested their own funds, some of which were allegedly stolen from stage proceeds. But it’s the betrayal of trust that appears to hurt him the most.
🧠 Opinion: A Painful Lesson in Financial Literacy
While it's unfortunate that Taye Currency lost such a huge amount, his experience underscores a broader issue — the growing vulnerability of Nigerians, including celebrities, to high-risk, unregulated financial platforms promising fast returns.
In a country where financial literacy is still catching up with digital innovation, these platforms prey on trust, desperation, and lack of due diligence. Taye’s public meltdown, though painful, may serve as a wake-up call to many who are considering blindly jumping into trendy investment platforms without proper research.
⚠️ CBEX: Another Ponzi in Digital Disguise?
CBEX’s sudden crash has sent shockwaves through the financial space, with thousands of Nigerians reportedly unable to log in or access their funds. Many now liken it to a digital-era Ponzi scheme, masked with flashy dashboards, crypto jargon, and fake testimonials.
Regulatory bodies are yet to make an official statement, but Nigerians are urging the EFCC and CBN to investigate and prevent further scams of this scale.
💬 Final Thoughts
Taye Currency’s public rant may seem heated, but behind it lies a lesson in accountability, trust, and financial caution. No matter how convincing a friend sounds, always invest with your head, not your heart.
🔗 Let this be a loud and clear reminder: If it sounds too good to be true, it probably is.
Stay safe. Stay smart. 🛑
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