I Was a Victim of Both Scam and Failed Investment, on Over 500 Millions Debt - Mr Macaroni Shares Financial Struggle

Israel Adeleke

OPEN TELEVISION NAIJA (OTN) News reports that popular Nigerian actor, comedian, and activist, Adebowale Debo Adedayo, popularly known by his stage name Mr Macaroni, or Daddy Wa, has opened up about his financial challenges, revealing that he fell victim to both a scam and a failed investment in 2021, which wiped out his savings.

OTN News further reports that Macaroni who made this known in a detailed post shared on his X handle on Thursday, disclosed that following these financial setbacks, he resorted to borrowing money to meet his obligations, it however, eventually accumulating a staggering debt of N500 million.

He however, acknowledged that his generosity and financial recklessness contributed to his struggles, explaining, “Sometime around 2021/2022 I was victim of a scam and simultaneously a failed investment that cost me all I had saved at the time. It shook me deeply but I told no one about it."

"If you know me well enough, you would know I do not like to share my problems. I could be going through the worst and at the same time helping others solve their own problems but I just would never share mine.” he said.

He further explained that after losing all his savings, he turned to borrowing to meet his commitments, assuming his income would be sufficient to cover the debts.

However, he soon realised he was merely paying off interests, which worsened his financial situation.

“After I lost all the money I had then, trouble started when I had to borrow money from different sources to settle all pending commitments and also fulfill certain responsibilities I have always believed were mine to fulfill.

"I make money in millions so I never thought borrowing money to pay back with interest could ever be a problem. But I got too comfortable and it took me a long time to realize that I was using the money I was earning to pay back interests. Also, my financial recklessness did not help. Please don’t borrow money! But if you must, please be responsible.” he said.

The actor however, described 2024 as both a defining moment in his career and the most challenging year of his life due to his enormous debt burden.

His frustration was further compounded by a betrayal from someone he once regarded as “a friend and sister.”

Despite these struggles, Mr Macaroni expressed gratitude to his family and friends, whose unwavering support helped him through difficult times.

He concluded by saying that he chose to open up about his ordeal to inspire others facing financial difficulties, urging them to remain strong and seek support.