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Ibadan – Popular Fuji musician Taye Currency has publicly shared his painful experience, revealing a N10 million loss to the recent CBEX scam. The Ibadan-based star spoke out after the digital trading platform collapsed, reportedly taking significant investor funds with it. His announcement makes him the first Nigerian celebrity known to be affected by this specific financial scheme.
Musician Shares Ordeal
CBEX, based in Singapore, ceased operations abruptly on Monday, April 14, 2025. It’s alleged the company disappeared with N1.3 trillion belonging to investors, leaving many unable to access their accounts. During a recent live show, Taye Currency couldn’t hold back his distress over the CBEX scam. In a widely shared video clip, he expressed his frustration in Yoruba, stating, “I might develop high blood pressure If I don’t speak out. I can no longer keep it to myself.”
How the Investment Happened
The musician detailed how people close to him were involved. He mentioned his band manager, Lateef, along with associates Sodiq, Alaba, and Brother Muca. Taye Currency explained that Sodiq first presented the investment idea, noting that others had already invested heavily and had access to his finances. “On that very day I invested N10 million in CBEX and it crashed,” Taye Currency lamented, directing anger at those who introduced him to the platform. His candid story about the CBEX scam has ignited conversations online about the dangers of investment fraud in Nigeria.
Abiodun Labi
