Veteran Nigerian rapper Jude Abaga, popularly known as M.I., has sparked conversation after claiming that internet fraudsters play a major role in funding the Nigerian music industry.

Speaking on the So Nigerian podcast, M.I described it as a sad reality and “an indictment” on the nation that much of the industry’s financial backing comes from two main sources — the West and proceeds from online fraud.

“There’s a lot of controversy when people talk about Yahoo Yahoo, because for a lot of artists, that’s the funding they have,” he explained. “It shows something is wrong when the major funding for our industry comes from the West and the fraud industry. Hopefully, we can do better.”

The rapper stressed the need for more investment from within Nigeria, calling on wealthy individuals and institutions to step up and support homegrown talent.

According to him, young people are currently the only ones actively supporting other young people financially in the Nigerian music space, a situation he believes must change for the industry to truly thrive.