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MI Abaga has revealed where the funds of most music labels come from. He disclosed that Yahoo Boys support some part of the industry. MI also told that if it were the corporate world that the Nigerian music industry was left for, it would die.

MI Abaga
MI Abaga
MI Abaga has of recent been in the news because of an interview where he revealed how funds for music labels in Nigeria are being raised.

He said that the internet fraudsters also known as Yahoo Boys are the ones who primarily support the music industry.

He said,

There’s no bank in the history of Nigeria that has given a Naira to any label. There’s no corporate entity that has given any label. It’s young guys. In fact, you’re more likely to get money from a Yahoo Boy. Shout out to Yahoo Boys, may God prosper your business. There’s no bank in the industry of Nigeria that has given one Naira to any label.

Pulse reports.

Read also: Speed Darlington finally makes his first $100 from music.

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