Musician and youngest son of the Late Nigerian afrobeat legend, Fela Kuti, Seun Kuti, has labelled cryptocurrencies a criminal business after his sister went against his advice and lost over N50 million to trading in the digital coins.
His elder sister, Yeni, is a regular feature in TVC’s breakfast show, YOUR VIEW, and runs the family’s SHRINE, an entertainment centre.
The musician labelled crypto trading as wealth transfer from the poor to the rich.
He slammed those involved in promoting the trade, accusing them of stealing from poor people.
As seen in a video shared on X on Wednesday, the visibly upset Seun Kuti, revealed how his sister lost over N50 million to the crypto trade.
He said: “Crypto is a lie! You people are criminals trying to steal from poor people. Crypto is nothing but wealth transfer-from the poorest to the richest just like gambling.
“And you all who promote and push, it is called wealth transfer! There is no freedom in crypto. More African people and Nigerians have lost money to this shit that are making money from it.
“Should I tell you how much my sister has lost to crypto? I dey tell that one too she no hear. I can’t tell you how much she has lost- over N50 million. Na so many Nigerians don lose millions but una go dey lie to Africans.” Seun Kuti said.
