How bad investments led me into over ₦500 million debt – Mr. Macaroni opens up financial struggles

In an emotional post on X, March 20, he shared that, initially, he wanted to keep his ordeal private and bear the financial burden alone while continuing to entertain his audience.

However, he decided to share his ordeal for others to learn from it.

“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,” his post said.

Though he did not go into specifics about his failed investments, Mr. Macaroni disclosed that the failed investment cost him all his savings forcing him to borrow money from other sources to fulfill his financial commitment.

This led him to be in debt of over ₦500 million. He said initially he did not see borrowing as a problem given his earnings from acting. However, over time, he realized that he was using most of his earnings to pay off loan interests, which made it difficult to recover financially.

“As I was finding my feet after some of my films earned me recognition, I was hit by another blow that completely destabilized me,” Mr. Macaroni confessed. “2024 was a turning point for my acting career. Two of the films I featured in were screened at international festivals. My performances in other films also earned me numerous commendations. But it was also the most troubling year for me. Every day and night, I was burdened knowing I was over half a billion in debt… I am a financially reckless person.”

Despite these hardships, Mr. Macaroni acknowledged the support of his family, friends, and the tough financial decisions he made, which helped stabilize his life.

“I feel stronger and more in control than I have in the past three years,” he said.

He advised those who are struggling financially to get support, make wiser financial choices, and never allow hardship or betrayal to stop them.

 Source: 3news.com