Veteran Nigerian rapper M.I Abaga has sparked conversation with a bold claim that a significant portion of the funding driving Nigeria’s music industry comes from the proceeds of ‘Yahoo Yahoo’, the local slang for internet fraud.
Speaking on the So Nigerian Podcast, M.I described the revelation as both a disturbing reality and a sign of deeper structural problems in Nigeria’s creative sector.
According to the hip-hop star, the fact that such a large percentage of music financing originates from questionable and fraudulent sources should be seen as an indictment on the country and its inability to sustainably support its talent.
“There’s a lot of controversy when people come talking about Yahoo Yahoo because a lot of artistes, that’s the funding that they have,” M.I explained. “When people try to talk about it…I don’t want to be misquoted here, I say the wrong thing. But 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 comes from this other industry. It’s an indictment. It shows that something is wrong.”
M.I stressed that Nigerian artists often rely on funding from outside the country — whether from Western investors or individuals benefiting from illegal cyber activities. He noted that while some international financing is normal for a global music industry, an overdependence on it, combined with illicit sources, paints a worrying picture of the nation’s economic and creative infrastructure.
The award-winning rapper urged the Nigerian government, private investors, and industry stakeholders to establish legitimate and sustainable funding channels that can help artists thrive without resorting to fraudulent networks.
“Hopefully we can do better,” he said, highlighting the need for policies, structures, and local investment models that enable musicians to depend on legal revenue streams.
M.I’s remarks are likely to reignite a long-standing debate about the intersection of Nigeria’s entertainment industry and the proceeds of cybercrime. While some insiders have privately acknowledged the influence of such funds, open discussion on the matter has often been met with controversy and defensiveness.
The Nigerian music industry is one of Africa’s largest cultural exports, producing global stars and chart-topping hits. However, the infrastructure to support its growth domestically — from music distribution to royalty collection and tour sponsorship — remains underdeveloped, leaving a gap often filled by alternative sources of capital.
Analysts suggest that M.I’s comments should be seen as a call to address the broader economic challenges facing Nigeria’s entertainment sector. Issues such as poor copyright enforcement, lack of formal funding structures, and limited institutional support have left many artists vulnerable to relying on funding from opaque or illegal sources.
For M.I, the solution lies in building an industry where talent and hard work — not fraud — are the main driving forces behind success.
