Why is this still happening in Nigeria in 2026?

[Bryan jessy]

Scammers can go extra miles and they can use any means or things with value that they are aware that people will want to get, scammers cones up with things they know it will interest people that is why it is very easy to fall for scam especially when a person do not know nor have the idea of how far scammers can go, in this case it's a trusted group with like minded individuals who shares the same goal, maybe the scammer most have thought that they are naive but they were smarter in the sense that they reached out to the real owner of the contact to confirm if the person actually sent such, also in business groups like this post with things different from their goals like this are question because it is totally prohibited, such scam scheme is easy to avoid  failing victim and also easily to overcome.

[Su-asa]

From my perspective, this is literally a cheap scam method, but people will still fall for it, mostly those without common sense. The reason why I said those without common sense is that, looking at it alone, it will tell you that it's a cheap scam. That set of people who will become victims of this because they literally think that they will be lucky to get a one-time chance from the scammer are big fools because it's already obvious that they are greedy.

The reason why I call this method a crap scam is that nowadays most intelligent scammers have developed another method which allows them to advertise their scam and Ponzi scheme on social media with just a small amount of money. They don't have to message the victim; when the victim sees the ad on social media, they will be forced to message the scammers because they are desperate and greedy as well.

Right now, scammers have grown past that stage of messaging their victims first; they do their thing and wait for the desperate ones to message them.

One of the reasons why people end up being scammed is because they don't have the right information about what they are about to join.

[Comeacross]

I know it’s a Ponzi scheme, many people would recognize it at first glance but the question here is whether the awareness about cryptocurrencies like Bitcoin is still very small amongst average slightly elderly people and many people still haven’t really understand what it is? Because this is 2026 and with how adoption is said to have increased in Africa and Nigeria in particular, I don’t expect to be seeing this type of obvious scam associated directly with bitcoin.

Bitcoin is used as a cover up but that's actually money doubling scam that have been existing for a long time. You know why they use bitcoin as a cover up? Because some people still believe bitcoin is a quick money scheme. They have read or heard about people that made profit from bitcoin in the past and whenever they hear the word bitcoin, the first thing that come their mind is quick money. Scammers now take advantage on elderly people that may not be well informed to duped them. Forget we are in 2026, there are still a large number of people that know nothing about bitcoin in Nigeria. Bitcoin is popular among the youths that are highly exposed to internet and social media.

Most of our women and elderly men are not well aware about it. Of course, some of them are exposed to internet but not on the same purpose as we the youths. They mostly spend time on Tiktok and Facebook watching reels. Don't be surprised some of them are still very much falling for the scam as cheap as this. In some groups that I controlled on WhatsApp, I don't hesitate to delete such messages and remove the member from the group. I don't wait for them to announce they have been hacked.

[JoyceBTC]

I know it’s a Ponzi scheme, many people would recognize it at first glance but the question here is whether the awareness about cryptocurrencies like Bitcoin is still very small amongst average slightly elderly people and many people still haven’t really understand what it is? Because this is 2026 and with how adoption is said to have increased in Africa and Nigeria in particular, I don’t expect to be seeing this type of obvious scam associated directly with bitcoin.

Internet wise, most elderly people are not very smart some of them don't even understand cryptography or know how to dictate scammer those are the type of people these scammer are after. Many of them would fall for it thinking they've seen a good investment opportunity not knowing that Bitcoin is not a ponzi scheme whereby you put your money into it and get returns immediately.

If you notice, the elderly ones are the victims of ponzi scams that's why more awareness should be created to help them know about Bitcoin and how to avoid being scammed throuh it.

That is not entirely true ,both young adult falls victims too because of greed,once they hear invest in this and get this in few days or hours they quickly jump into the offer,so I can't say it's only elderly once that are mostly likely to fall for it ,but all the same more awareness should be created, because it marvels me to see the rate at which people falls for this scammers , whenever they create such things ,many don't think twice they invest immediately they hear the amount to get back in few days,which is purely greed that has misled many into such troubles.

It is true that most young adult are still victims of this scams but we can’t argue the fact that the elderly ones are more easier to scam than the youth. This elderly ones are not as smart as the youth, most of them don’t even know what is going on in the internet, so can be easily fooled and they are also not smart enough to make use of the internet to do some researches like the younger ones. But I can say recently, the younger adults are now becoming smart enough to detect scams like this earlier to avoid being a victim, while some know this is Ponzi but still go ahead because of greed as you’ve said.

[Jegileman]

I know it’s a Ponzi scheme, many people would recognize it at first glance but the question here is whether the awareness about cryptocurrencies like Bitcoin is still very small amongst average slightly elderly people and many people still haven’t really understand what it is? Because this is 2026 and with how adoption is said to have increased in Africa and Nigeria in particular, I don’t expect to be seeing this type of obvious scam associated directly with bitcoin.

I don’t think that Nigerians are not aware of bitcoin till now because the name bitcoin is a popular name now in Nigeria with many attributing it to scam. I am surprised that these group of people will fall for such scams. The narrative might be changing now though, before now bitcoin was seen generally by Nigerians especially the elderly ones as a scam investment, that even caused a slow adoption rate and trust for bitcoin in countries like Nigeria.

Bitcoin is now a more popular household name in Nigeria and anytime they talk about one owning some bitcoin, the general narrative that we get is that the person is very rich. This could be where the problem is, they’re now using it to lure elderly ones to invest their money in order to become richer. Information is very important and I think we are lacking that as Nigerians, that’s the only way we can get to reduce this kind of scams.

[HajiBagi]

I know it’s a Ponzi scheme, many people would recognize it at first glance but the question here is whether the awareness about cryptocurrencies like Bitcoin is still very small amongst average slightly elderly people and many people still haven’t really understand what it is? Because this is 2026 and with how adoption is said to have increased in Africa and Nigeria in particular, I don’t expect to be seeing this type of obvious scam associated directly with bitcoin.

Internet wise, most elderly people are not very smart some of them don't even understand cryptography or know how to dictate scammer those are the type of people these scammer are after. Many of them would fall for it thinking they've seen a good investment opportunity not knowing that Bitcoin is not a ponzi scheme whereby you put your money into it and get returns immediately.

If you notice, the elderly ones are the victims of ponzi scams that's why more awareness should be created to help them know about Bitcoin and how to avoid being scammed throuh it.

I agree with that most elderly people are not very smart, because most of them don’t know anything about bitcoin  or anything related to cryptocurrency, the reason why most of them will easily fall for the scam is because they will think if they invest the money they have with them, they will get more than that in just some hours, but we should not also forget that it is not only the elderly people, most of young people are not smart, illiterate have made some believe that they can make quick money online.

We have seen how NRC scammed people, including those who are illiterate, i am still wondering who those who are educated get involved in those things, but i will not blame them, the country is hard and most people are now start thinking that coming online and invest in any ponzi shem is the best way to make quick money.

[Judith87403]

If you notice, Nigerians who are victims of Ponzi scheme is either they don't know it's fake or someone convinced them to invest that it is safe and guaranteed. Normally,bitcoin investment doesn't guarantee profit in two hours so this is literally a ponzi scheme.
I think people should be more extra careful of any online bitcoin investment that doubles any amount you invest within two hours or more because it's fake and they might be a lot of them that we don't know about that are out there defrauding people using the name bitcoin investment

Most Nigerians are very easy to deceive when it comes to those investment that promises to double their money (ponzi schemes). If you want an average Nigerian to invest in a ponzi scheme all you just need is to show them track records of the profits you have made from the ponzi scheme and you will see them start being interested and also wanting to invest as well, they don't care about doing their own research anymore as far as they have seen someone who is already a beneficiary of a ponzi scheme it is enough for them. Literally, any investment scheme that offers to double investment you should know it's fake because at the initial stage they will pretend like they are legit till they have gathered many investors then they defraud and exit immediately. Another thing again is that bitcoin is popular and most people have heard about it even though they don't understand how it works so people who are desperate to invest in Bitcoin can actually fall into the hands of scammers since most people believe thar anyone who is dealing in bitcoins is rich already.

[Mayor of ogba]

Both elderly ones and youths were victims of the NRC scam that happened in Nigeria a few month ago, so I want to let you know that it's not only the elderly ones that are the target for scammers even youths are also their target. A lot of people has been scammed through ponzi scheme in Nigeria but I'm not surprised as Nigerians are getting scam again in 2026 with ponzi scheme because as far as there's hardship in the country people will always want to take risk to generate extra income that will help them live comfortably. But any investment that have juicy reward in a short period of time is clear scam exist, and people shouldn't invest their money because it will only end in regret.

[Stable090]

They used one of the member’s WhatsApp to send messages to the workplace group chat and they made it sound like a testimony that he actually tried it, you know Nigerians would know something is a Ponzi and still do it because they think they are wiser than the thief..

Anything Ponzi scheme, Nigerians no dey carry am play, na free money dem Dey always look for, they are always after how they will be able to multiply their money without doing anything. Lots of people have been scammed previously by different Ponzi scheme, and we are still seeing new Ponzi schemes, and the funniest part is that people are still falling for them.

Some people that participate in all this Ponzi scheme do always think they are smart, some of them will want to start early, so that before they crash, they will have made some money but they don’t know that things don’t work like that. The best thing is just to avoid Ponzi scheme, they just going to scam you at the end.

[Africolo]

So yesterday I was trying to figure something out with an elderly person phone and they suddenly I saw a WhatsApp message pop up from their workplace group chat, it catches my attention because I saw “Bitcoin” in the message that popped up. Behold it is a scam WhatsApp group advertisement that was created to defraud people by promising a 2x return in just two hours!


They used one of the member’s WhatsApp to send messages to the workplace group chat and they made it sound like a testimony that he actually tried it, you know Nigerians would know something is a Ponzi and still do it because they think they are wiser than the thief.. they’ll say they want to use the fact that these scammers actually pay the first group of people that “invest” before they exit with later investors money and the member said he has already gotten his..  we have seen this recently with the NRC stuff.

After like two hours, the member made a phone call to another member of the group and told him his WhatsApp has been hacked, proving he wasn’t the one that sent this messages.. the scammers themselves did.


I know it’s a Ponzi scheme, many people would recognize it at first glance but the question here is whether the awareness about cryptocurrencies like Bitcoin is still very small amongst average slightly elderly people and many people still haven’t really understand what it is? Because this is 2026 and with how adoption is said to have increased in Africa and Nigeria in particular, I don’t expect to be seeing this type of obvious scam associated directly with bitcoin.

Majority of people using a smart phone is not Internet wise and can easily fall victim for fraud some persons claim to be very wise and smart and still fall for such cheap scams. The Youths also fall victims because of greed and trying to level up with their other friends that are doing well and end up being a victim, once bitten is twice shy this means that since I engage myself in MMM and was scammed during 2017 I decided to stay away from anything call ponzi scheme and as I am nobody can use that trick on me  or ask me to join any platforms and that I will  pay some amount of money before I start earning.

For the fact that someone told you that your money will be double is enough reason to know that's a scam but due to hunger and lack of Jobs we are blinded and just want to jump on any opportunities that appears to make money. Nigerians should be wise by now because so many Ponzi schemes has scammed a lot of us and such shouldn't be happening against in 2026, NRC has come and gone who knows the next one and people will still fall victim.

[ArabBTC]

They used one of the member’s WhatsApp to send messages to the workplace group chat and they made it sound like a testimony that he actually tried it, you know Nigerians would know something is a Ponzi and still do it because they think they are wiser than the thief..

Anything Ponzi scheme, Nigerians no dey carry am play, na free money dem Dey always look for, they are always after how they will be able to multiply their money without doing anything. Lots of people have been scammed previously by different Ponzi scheme, and we are still seeing new Ponzi schemes, and the funniest part is that people are still falling for them.

Some people that participate in all this Ponzi scheme do always think they are smart, some of them will want to start early, so that before they crash, they will have made some money but they don’t know that things don’t work like that. The best thing is just to avoid Ponzi scheme, they just going to scam you at the end.

Why i don’t blame most people that fall into this cheap scams and ponzi is because of the level of hunger and poverty in Nigeria, most people don’t have what to eat and are ready to jump at any available opportunity just to increase their income, imagine paying as low as #20,000 to someone as salary in Nigeria such a person will be unstable mentality and can be easily swindled by this scammers on the other hand most people that have average money don’t know the business to invest in, bad government policies has collapsed most business in Nigeria, out of frustration some people choose to invest in ponzi or any other online scheme with the mindset of getting a little interest and quitting but some don’t get lucky in the process and before they know the ponzi will crash.