Popular Fuji musician, Alhaji Taye Adebisi, widely known as Taye Currency, has publicly shared the emotional and financial pain he endured after losing a staggering ₦10 million to a Ponzi scheme operated by Crypto Bridge Exchange (CBEX). The renowned musician, who is based in Ibadan, took to social media to express his anger and disappointment over the loss, revealing how he had been swindled by what appeared to be a legitimate investment opportunity. This incident has further stirred the ongoing outcry surrounding the collapse of CBEX, which has reportedly defrauded thousands of Nigerians.
In a video that has since gone viral on social media, the famous Fuji musician opened up about his ordeal while performing on stage. The emotional video captures Taye Currency visibly upset as he details how trusted associates, including his brand manager and fellow musicians, lured him into investing in CBEX. He explained how these acquaintances, whom he had known and worked with for years, had presented the scheme as a reliable and profitable investment opportunity.
“On April 1, Sodiq came to my house and said Lateef, the brand manager, had collected some money and also introduced Alaba and Small London, who had also collected their money, and Brother Muca,” Taye Currency recalled emotionally in the video. He went on to describe how his acquaintances, all well-known within the music industry, had invested what they claimed to be either stolen or hard-earned funds into CBEX, trusting the promises made by the platform. He listed some of the investments made by his friends and colleagues as follows:
Alaba invested ₦1.2 million, which was allegedly stolen from a stage event.Brother Muca put in ₦500,000, which was reportedly his performance fee.
Sodiq invested ₦850,000, which he had saved from the band’s earnings.
Lateef reportedly invested ₦1.4 million, having earlier claimed to have turned ₦200k into ₦600k.
Motivated by their testimonies and convinced of the scheme’s legitimacy, Taye Currency said he took a risky leap himself. On April 1st, he withdrew ₦10 million from his insurance savings to invest in CBEX. He had been persuaded by the success stories of his peers, who claimed to have made significant profits from their investments in the platform. Sadly, within a short time, all of the money he had invested vanished into thin air, and he was left with nothing.
“See my life in the open. I invested ₦10m in CBEX on April 1, but everything vanished,” Taye Currency lamented bitterly, his voice heavy with frustration. The musician didn’t hold back his anger as he spoke about the betrayal he felt from those who had introduced him to the scheme.
Visibly upset during his performance, Taye Currency continued to express his disappointment and anger toward those who had persuaded him to join CBEX. He made it clear that he believed those who had introduced him to the Ponzi scheme would face repercussions for their actions. “All of you who introduced me to CBEX, you won’t succeed in life. If they die well, they won’t rest well, because I was on my own before you took me to CBEX,” he angrily declared during the performance.
The revelation by Taye Currency has added fuel to the already growing outrage surrounding the collapse of Crypto Bridge Exchange (CBEX), which has left many Nigerians, including high-profile figures like the Fuji musician, financially devastated. Reports indicate that CBEX defrauded thousands of Nigerians, with investor losses estimated at over ₦1.3 trillion. Many individuals, from everyday people to well-known celebrities, have found themselves struggling to recover the money they had invested in what they believed to be a legitimate business opportunity.
The collapse of CBEX has raised serious concerns about the effectiveness of financial regulations in Nigeria and has prompted calls for stricter oversight of investment platforms operating in the country. Taye Currency’s emotional disclosure has brought further attention to the issue, highlighting the personal toll that such financial scams can have on individuals, particularly those who may not have the expertise to properly assess the risks involved.
Watch the video below …
Fuji Star Taye Currency Laments Losing N10 Million Investment in CBEX pic.twitter.com/bqV6dbYZGZ
— Instablog9ja (@instablog9ja) April 18, 2025