By: Taiwo Paul Olatunde.
Nigeria has experienced tremendous transition in the idea of savings and investment in the past 2years with the introduction of different Ponzi Scams (Schemes) which many believed is the only way forward in quest to better their living and getting richer very easy and quick with less stress or no stress at all.

Many feel that the only way to cope in the present economic recession faced by the country is to take a little risk and earn more, forgetting that most of the people who “made it” through the said schemes were the front liners and all other investors only work for them. These front liners are most times the owners of the said scheme/programs. Before go into details, let’s first understand what Ponzi really means and how it operates.


Is a situation whereby investors’ returns are paid for directly by later investors’ investments, giving the false impression that the investment is viable (able to live on its own).


Some of these Ponzi schemes’ CEOs might mean well as at the beginning of whole thing; moreover nobody starts any business that is doomed for failure unless the person is also doomed for failure and is not business minded…the platform is meant to pay both the owner and its subscribers and vice versa.


Overtime the scheme has only operated on referrals but the game changed with the rise of other Ponzi operators, with the automatic merging system whereby users are automatically merged during registration or auto-merge after being paid replaced the referral options.
– Ponzi schemes somehow were setup to somehow help people raise capitals for their businesses.
– To help alleviate poverty among citizens and the commoners.

– To help people earn extra income even at the comfort of their homes/work places.

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Like every business, Ponzi Scheme has risks as many operators advice their customers not to borrow money to run the program because they won’t be responsible for anything that happen thereafter. But funny enough people not only borrow to join the money making “business” but go as far as selling their belonging just to invest in an uncertain investment program, all in the quest to make it before their peers or time. Some disadvantages include:
– One of the key disadvantage to the scheme is that, it makes people become too lazy to work or find something doing for themselves: once a young Nigerian starts making money from the comfort of his bed, he/she forgets that he is suppose to find his/her self something doing in order not to be an idle person. The funny aspect of it all is that some of them only leave their beds when breakfast, lunch or dinner is ready. Ponzi has really eaten too much of many young Nigerians’ mind thereby making many lazy (too lazy for my liking).
– It affects one’s mentality as in the attitude towards making money: Ponzi schemes mostly are not really illegal businesses but a game of paying Peter with Paul’s money and vice versa.

– Finally, most of the operators only pay for Domain and Hosting for just 3 – 6 months after which you start seeing the sites going under maintenance on whether or not to continue with the program or rename it to a fresh name that is more captivating such doublemoney.com, tripleinvest.com, earnmoney.com amongst others.

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You probably must be wondering why anytime you decide to invest you money to any of the Ponzi platforms that’s when it goes down or crash or starts having one issue or the other. Well the answer is quite simple, if you only want to join the scheme just to earn for the 1st and 2nd week as the case maybe and forget to also calculate the possibility that another person is also thinking same. Who do you think will pay you when everybody only want to earn the 1st and 2nd pay then zoom off. Thing is; the operators don’t have a dime to pay anyone as the system is meant to use other users to pay other users.
It is important for you to know that once you leave the program, another person suffers for it and continuously until the whole thing crashes at last. Just try doing this calculation and understand what I mean:
Mr. Peter, Mr. Paul, Miss Jessica and Silas invested on A-Investment Limited, then after Peter got the first payment of N100,000.00 from a N25,000 contributions. Peter after receiving the payment decided to zoom off. You definitely know there will be problem paying others.
So my advice to you all Ponzi Scheme customers or subscriber is that if really you don’t want to hear this Ponzi crash or that Ponzi crash; try not to leave the platform after receiving 1st or 2nd payments because your action will definitely affect others…don’t be a scammer, for that act is dubious.