NewStats: 3,262,013 , 8,175,883 topics. Date: Saturday, 31 May 2025 at 02:49 PM 4s6071

That no6 nearly got me

Agropartnership

Omooba77:





https://www.vanguardngr.com/2025/04/from-mmm-to-cbex-list-of-ponzi-schemes-that-have-stolen-from-nigerians/

Wow you did your research very well. I know all those names there...Those bastards are still walking free till today. You forgot to mention MBA forex bastards

Nigerians deserve what they get other countries know this for a fact. Citizens who do not want to get better how would you expect a change. They share similar characteristics with a politicians

I was lucky during MMM. Since then I locked up.

DeepSight:
You people are GenZ, you dont know of the old ones like WealthSolutions, Canadian Diamonds etc.

MMM is even older than one thinks

Founded in 1989, ponzi operational by 1994

Omooba77:





https://www.vanguardngr.com/2025/04/from-mmm-to-cbex-list-of-ponzi-schemes-that-have-stolen-from-nigerians/

La buena nonsense

Fool me once, shame on you.

Fool me twice, shame on me!

They didn't steal, it's greedy people that do these things.

Another one is METAVERSE. E go soon cast

When you hear the word algorithm, platform run, it's rigged and designed to fail you.
You can't subscribe to a program that takes away control of your money.

As long as 50% of the people (especially early birds) cash out big, ponzi will continue to thrive. Majority of the people who invested early in OmegaPro 2 years ago don japa with ponzi money to UK, Canada, and the US. I know a few of them who bought their first cars, bought houses in Lagos and even travelled out to Dubai and Malaysia (all sponsored by the scheme). On the flip side, the late entrants are yet to recover.

Until the government steps in to block all channels, nothing will stop ponzi schemes from thriving. Nothing at all. People are desperate to make money and as long as they see evidence from the early birds, they will do just anything. And yes, the situation in the country reeks of hopelessness.

Look around you, majority of the people buying and building new homes in Nigeria are all based abroad. There's hardly any hope for the common man residing in Nigeria.

People have forgotten things like OmegaPro

Add
MBA Forex
Returns Market

Omooba77:





https://www.vanguardngr.com/2025/04/from-mmm-to-cbex-list-of-ponzi-schemes-that-have-stolen-from-nigerians/

There are so many even unknown to many.
Nigerians are just too greedy.

Yusufisraelj:


This is surface talk without depth. We think people are fools?

Aren't they fools? Tell me what are "people" exactly if not fools. You keep investing in MMM and other Ponzi schemes, but you're not fools... No, you're very wise.

Omooba77:





https://www.vanguardngr.com/2025/04/from-mmm-to-cbex-list-of-ponzi-schemes-that-have-stolen-from-nigerians/

You forgot to mention ChinMark, MBA Forex and Dominus Vobiscum Investment, Dominus Vobiscum Investment was run by Reverend Fathers and Sisters. My friend’s dad lost his entire gratuity and retirement savings in that scheme, and the trauma eventually took his life. Meanwhile, the Reverend Fathers and Sisters are still alive, living large, one of them even bought himself a BMW X6.

Nigerians can be incredibly gullible, which is why corrupt politicians and so called men of god (Imam, Pastors, Reverend Fathers and Native Doctors) keep using the people like pawns. After CBEX, give it a month and another scheme will pop up, and Nigerians will still fall for it and get duped all over again.

GanagiBitrus:
Not excusing Nigerians' greed & quest for quick money, but Govt also has responsibility to protect her citizens.
SEC & other agencies shouldn't be licensing & allowing such dubious schemes to operate, & scam Nigerians.

Solid comment. Unfortunately you don't really expect frauds to checkmate other frauds.

The ops didn't even mention the one that chopped my money

IAS

FiveFootNinja:


Solid comment. Unfortunately you don't really expect frauds to checkmate other frauds.

True. Nigerians forget so easily that the so called law enforcement people can't help them. Many of them invested in Cbex. The people who are meant to checkmate ponzi schemes are part of the process. MMM wey soldiers and police officers everybody do? 😅😅

You forgot to mention OmegaPro

GanagiBitrus:
Not excusing Nigerians' greed & quest for quick money, but Govt also has responsibility to protect her citizens.
SEC & other agencies shouldn't be licensing & allowing such dubious schemes to operate, & scam Nigerians.

The thing is, they were never licensed by SEC and other agents.

Also, when SEC was literally shouting against MMM. ? Yes, Nigerians abused them. Even when MMM eventually collapsed, some people blamed SEC warnings, and other people's warnings for the collapse because 'it made investors jittery'

There is another one they are even doing now here by the tell people to be clicking and watching videos and also be recruiting more people . The more people you bring the more reward you will get

You should start from Forum Micro Finance Bank, new Kudirat Abiola Way, Ikeja Lagos. I think 1992/93.

That was the beginning of ponzi schemes in Nigeria.

Poverty has enslaved Nigerians mentality of independent critical thinking . But what also amazes me is the fact that these Ponzi aren't cheap and yet Nigerians have the money to invest in them

Yes they will continue to steal money from Many Nigerians because they are dumb and stupid, whether educated or not, their craze for easy and quick money is unquantifiable,if money is that easy to double or make ,why is everyone not millionaires? Truth is always bitter to their ears.only stupid things rings well in the head of an average Nigerian

Veritas Global Nko?

Acidosis:



True. Nigerians forget so easily that the so called law enforcement people can't help them. Many of them invested in Cbex. The people who are meant to checkmate ponzi schemes are part of the process. MMM wey soldiers and police officers everybody do? 😅😅

For once, I will excuse government for not intervening here.

Even in saner climes, their government do not intervene until the thing collapses, then they move in.

The problem is, if the government moved in, people will be angry with them for 'spoiling their chances to make money' .

The thing with ponzis is, you have to let them run their course. Yes, people will get hurt, but they will learn from painful experience. If government enters in when the thing is at its height, and people are still making money, people will curse them and will abuse them

I mean, government, prominent people, etc, warned Nigerians about MMM, at its height, people responded in abuse. Some even said that the wicked Nigerian government did not want people to make government in these hard times. And when it finally collapsed, some 'investors' blamed government for 'warnings that made investors old and new jittery'.

What government is doing now is searching for the bosses, now that it is fallen.

These things are like cults. So long as someone thinks he is benefiting from the cult, no matter how many people shout at him, he no go listen. If he is taken from the cult by force, he will return immediately. Until the cult shows him shege, then he go make plans to leave.


Modified

A Ponzi scam is different from other scams on that some victims do make money.

There was this OIL AND GAS Ponzi scheme too around 2008-2010

DeepSight:
You people are GenZ, you dont know of the old ones like WealthSolutions, Canadian Diamonds etc.

eGold

wazobeer:
Greedy people looking for fast money... That's all I see.

Whenever you're putting money into a system where there is no value being added in of products or services and you're making profit, think twice...

Exactly, it surprising when all the above mentioned Ponzi scheme were patronised by Nigerians Christians and Muslims but criticising people playing lotto/betting.

But why am I just hearing all the above names for the first time apart from MMM code named as ( Moku- Mogbe- Modaran)

The root curse is still bad economy and government.


No job people wants to survive so we easily fall for this scam.


Imagine if the economy was not harsh and everyone is comfortable. Bad government is the root cause