Ponzi schemes "Watch out for the next"

[Tetu100]

Every year new Ponzi schemes de show with sweet promise. People wey de suffer from hardship go rush in with their last card only to lose everything when the operator pack. I done see many victim, graduates, traders, even civil servant. The next one go always come with better packaging and better marketing. My advice is that never invest what you cannot afford to lose, genuine investment takes time, no be get rich quick.
Note, if e too good to be true, e no true. Let’s wise up and avoid being greedy.

This is what hardship of our nation has subjected so many young promising man into falling victim of all kind. This so called ponzi scheme and the rest of them are something that has being going on for long now and based on  how people are becoming aware with most of their strategy they have now started coming up with new things, I will we advise we shouldnt out of hungry or the hardship in recent time fall for them. Therefore it's better you make proper use of the little you have than lossing it to scammers all in the sake of getting something huge, so my people make una shine eyes wella oh.

[Jasmyne]

The funniest part is that most of us know how this people disappear with people’s money after gathering enough people with a lot of money, but we will always want to choose to neglect that and still risk our money. That’s why even if one crashes today, people wouldn’t mind doing another one tomorrow since they know the risk involved. Everyone is looking for ways to double their money, higher profit, so they don’t mind taking the risk even when they are aware they mind end up losing their whole money.

[SmartCharpa]

We Nigerian are always fun of falling victim always , because of greed, a friend of mine sent me one last week , all you need do is convince people to register under you and get paid $5 , so is all about referrals and tasks to do to earn more  money , and you can’t withdraw until it get to $100, everyone was doing it at the end , the withdrawal didn’t work .

The funny part is they always knows how to get us , just as you have said , the economy is not friendly at all so everyone is looking for an opportunity to survive, any means that brings money they don’t mind the risk involved and many are losing their sanity once it crashes, I pray we learn and avoid this Ponzi scheme that is always carried out successfully .

I don’t know what really comes our head sometimes, all these Ponzi schemes that have scammed people, that does not stop people to put their money into the new one they introduce. To be honest, some people greed too much, are we not tired of putting our money into something like, invest this amount and withdraw this amount in the next 24 hours, we don’t learn from what happened in the past, we quick forget things in this country.

I’ve warned my guys to stop sending me all this referral links, who go help you no go stress you because which one is share this to 20 people on your WhatsApp, imagine from that side sef reasonable person suppose understand say this thing no go work. Even last week one of my guy was telling me about one like this, he said you will do some task and when the money reach 1,300 naira you will be able to withdraw, I only told him all the best, if I say any other thing he can reason me as a bad belle.

[ArabBTC]

Well you can’t blame Nigerians for always falling victim to Ponzi scheme because things are really hard in the country, the economy keeps on dropping, money no longer have value, all Nigerians are seeking for is an alternative to make extra income because salaries ain’t enough, business isn’t going well because of high cost of importation etc, the money that is lost in Ponzi the truth is even if one chooses to keep it without putting it into Ponzi he/she will still eat the money, that’s why you see that most people just chooses to invest it in Ponzi because Ponzi looks to them as small hope, in every Ponzi scheme early birds use to get a little profit out before it finally crashes, it’s the extremely greedy once that reinvest back the little profit and end up losing everything.

The Nigerian government should stabilize the economy and you will see that lots of people will automatically stop anything that has to do with Ponzi, the Nigerian people are just looking for any available beam of hope because of the hardship they are going through, the government has failed, all man to himself.

[Mr_Brilliant$]

Well you can’t blame Nigerians for always falling victim to Ponzi scheme because things are really hard in the country, the economy keeps on dropping, money no longer have value, all Nigerians are seeking for is an alternative to make extra income because salaries ain’t enough, business isn’t going well because of high cost of importation etc, the money that is lost in Ponzi the truth is even if one chooses to keep it without putting it into Ponzi he/she will still eat the money, that’s why you see that most people just chooses to invest it in Ponzi because Ponzi looks to them as small hope, in every Ponzi scheme early birds use to get a little profit out before it finally crashes, it’s the extremely greedy once that reinvest back the little profit and end up losing everything.

The Nigerian government should stabilize the economy and you will see that lots of people will automatically stop anything that has to do with Ponzi, the Nigerian people are just looking for any available beam of hope because of the hardship they are going through, the government has failed, all man to himself.

Na truth sha, the economy nor really stable and many Nigerians don dey desperate for any way to make extra money.. That hardship dey push plenty people into taking risky decisions…

My own be say make people still try dey more careful and learn how to identify these Ponzi schemes.. Because losing money for this kind economy dey pain well well, especially when na your hard earned money…

[Juicyhome]

Ponzi schemes in Nigeria are not even something new anymore, it is like a cycle at this point...  When one crashes, people will shout and act shocked… then few months later, another one pops up and the same thing repeats..
From reports, over 200+ Ponzi schemes have entered Nigeria in the last 10 years.. That number alone should tell you this is not a coincidence, it is a pattern..

And the painful part is, they will keep coming because they know one thing: people will still fall for it...

And if we are to be real here, the current economic situation in Nigeria makes things worse.. People are desperate to survive, to make extra income, to escape the pressure… and these schemes know how to target that vulnerability, then before you know it, billions are gone..

Just recently, CBEX crashed and took over ₦1.3 trillion with it… that’s around $840 million. Gone. Just like that.. And the people behind it? Nowhere to be found..



That is how it always ends.
And the truth is, it will not stop.. Another one will definitely come. With a different name, different branding, maybe even looking more Legit.. but the same structure and plan..



So at this point ehn, the best thing we can do is stay sharp and stop falling for the same tricks..  Some signs to always watch out for and identify these schemes are:
1. No real identity behind it
If you can not clearly know who is running it, that is already a big red flag.. Because they will not put their face out there, no accountability… For easy escape.
2. Guaranteed profits
Any platform promising fixed or sure returns is lying to you. There is nothing like that in real investing.
3. Referral based earnings
This is one of the common way to identify them as well. If the main way to earn is by bringing people in, then it is not a business… it is just recycling peoples money..

If they can not explain in a simple and verifiable way how they make money, don’t just stress yourself, just avoid it.
And so on...  

We have to be more aware and careful.. and also stop giving these scammers our money easily..

Nigerians never learn, if any new Ponzi scheme surface today, they will still participate in it without thinking about their previous losses in Ponzi scheme because of fear of missing out , when the Ponzi scheme starts they will pay some people that participate early then when people start rushing into it, they I'll off their network, this has been their strategy. Yet many Nigerians are blind about it, because of poverty and love for quick money.

[Tungbulu]

I think a lot of Nigerians are no longer naive about the routines of these ponies, especially those who are involved. I used to be involved in them myself, but that was several years ago, and I can even see some of the ponies I participated in in that list. But the reason I was involved wasn't because I didn't know that they were not reliable, but because I felt the early comers are at more advantage to take something off the system before they rug pull, and it actually did work for me. But the stakes were high, so I just had to quit completely. I believe this is the same mindset that a lot of people who are investing in these things are having.

[Jegileman]

As long as e be say na quick money without putting the necessary hard work na him Nigerians dey find, then we go always dey fall trap of all this Ponzi schemes. I no know how e dey be say them dey always succeed not until when person come see the kind people wey dey show interest for the thing more and e be say na even youths them more. As everyone don wise up open eyes now, everybody don dey see say if them no make money early, them no fit enjoy life early. So them always dey fall trap to wan access quick wealth. Until this narrative is changed in our minds, we go continue dey see more ponzi schemes and our people go dey fall prey to am more and more.