"THERE IS PONZI FIRE ON THE MOUNTAIN, RUN, RUN, RUN!"

There is a pronounced dearth of good leadership direction in Nigeria and which vacuum had forced unscrupulous citizens to opt for suicidal Ponzi schemes and Pyramid scams in order to become suddenly "rich and affluent” like their political representatives who flaunt illicit wealth around in spite of the economic recession which the Change Agenda Government of the All Progressives Congress (APC), is grappling to overcome! Concerned, upright  and patriotic citizens, including the Central Bank of Nigeria (CBN), have warned against the get-rich-quick mania tendencies and the doctrine of avarice being disseminated by economic saboteurs, and have advised gullible Nigerians from falling into the crafty plots of losing their total life savings and investments to con men! But they, all in one voice boldly and brazenly told CBN to shut up and mind its own business stressing that they owned their monies and could spend or invest as they so desired!
PONZI SCAM is derived from the name of an Italian male swindler, Carlo Charles Ponzi. According to Wikitionary, the scheme is fraudulent in that earlier investors were paid directly with the money taken from new investors, giving the false impression that the scheme was a viable investment. There are many of these frauds being perpetrated on internet with millions duped of their monies and possessions and several suicides committed!
PYRAMID SCHEME is similar to Ponzi in that, it is also an illicit money-making investment scheme whereby earlier investors are paid primarily or wholly by later investors but eventually such schemes fail to the detriment of recent (later) investors! As in Ponzi, tales of woes, of gargantuan loses and suicidal deaths, have trailed all of pyramid schemes ever introduced to gullible persons! MMM (Mavrodi Mondial Movement), Scheme's international organisers have claimed not to operate a ponzi scheme but had evolved a system where participants provided money and circulated such money to support one another and in the process get 30% monthly interest on their investments. On 14th December, 2016, MMM Nigeria suspended the scheme, froze its accounts, suspended its internet site, but promised to re-open in one month, which it actually did on 13th January, 2017. In spite of this development, no one has been able to claim any money from the scheme as it was reported that one of the organisers had fled from Nigeria! Other such scams making rounds in Nigeria include, Diamond, Silver and Crypto Currencies Internet Businesses which we advise Nigerians should avoid like plague!

WHAT INFLUENCED MANY NIGERIANS TO FALL INTO THE TRAP OF PYRAMID SCAMS?
For many years after independence and till date, Nigerian politicians had lived in affluence and comfort from the sweat and blood of the so-called common people and peasants who are the artisans - farmers, labourers, scavengers, hewers of the wood and "mai ruwas" (drawers of the water), - whom they swore on oath to represent, protect and succour with the basic amenities of life. But during the administration of the First republic, the very first Minister of Finance was caught with thousands of thousands of the British Pound Sterling fully stacked in his wardrobes when his house was searched during the military interregnum!
When Labour Unions were formed to contend with unfavourable government policies and the discrepancies between politicians' stupendous wealth and the glaring poverty among the masses, the politicians played the game of "divide-and-rule", confronted and intimidated them on the streets with the guns and bullets purchased with the taxes paid by the protesters! Ethics had been thrown to the winds by these unscrupulous politicians who are insensitive to the plight of the TALAKAWAS! This is still the trend in the Nigerian polity where most POLITICIANS GET RICHER AND THE PEASANTS GET POORER! While all political office holders collect their salaries/allowances as at when due, the masses of workers were not so hopeful because they might get some small percentages of their entitlements while more than 12 months of arrears remained unpaid and outstanding in many States of the federation!
There was a public outcry against politicians' demands for WARDROBE ALLOWANCES AND SIMULTANEOUSLY FOR BRAND NEW VEHICLES in 2015 at the advent of the CHANGE AGENDA APC GOVERNMENT as in past administrations, but they manipulated and sidelined every financial best practice and due process to achieve their goals! It is on record that the Senators got 109 imported Sport Utility Vehicles (SUVs), in spite of scarcity of foreign exchange reserves while the House of Representatives members did not publicize their loots until Malam Aminu Jibrin exposed the rot among the peoples' representatives! THE OPEN DISPLAY OF ILLICT GAINS FROM THE LUCRATIVE BUSINESS OF POLITICS IN NIGERIA has consequently pushed desperate masses to the brink of wanting the get rich like politicians by hook or crook through ponzi scams and they cared less whether they lost or gained! We support President Buhari's total war on corruption especially on corrupt politicians of whatever divide and we request that special tribunals be speedily set up to hasten the prosecution of those found culpable so that those who are still making jest of the crusade will be silenced in shame, while convicted persons be cast into prisons where they had belonged from the onset of their political career which was achieved through FRAUD!

LUCRATIVE PRESIDENTIAL SYSTEM AND PDP POLITICIANS!
Apart from the prudent Parliamentary system of government practised during  the First Republic, subsequent Nigerian Constitutions opted for the very expensive Presidential system that catered only for the interest of the politicians rather than the people they claimed to be representing according to the1979, 1983 and 1999 Constitutions which gave latitude to extravagance through lavish expenditures on government officials. This Nigerian model of presidential system makes room for excessive outrageous salaries and allowances for public office holders outside of the CIVIL SERVICE STRUCTURE OF EMOLUMENTS and therefore inadvertently created room for envy and rivalry which have now manifested in collusion and collaboration of the two bodies in amassing illicit wealth; (the civil servants handled pseudo paper works while the political appointees signed them for cash), to the detriment of the workers who are left high and dry and with nothing to show for their labour!

HOW DID THE POLITICIANS COME ABOUT FREE FLOW OF ILLICIT MONEY?
The Nigerian political terrain has "porous borders" through which illicit monies found their ways into illegal pockets of unpatriotic politicians who had mastered how to bend the rules in their favour! Take for instance, the National Assembly  (NASS), Legislators (109 Senators and 360 Representatives), whose annual salaries, allowances and other emoluments were permanently shrouded in secrecy since the new attempt at democracy in 1999, in spite of a court order that the CLERK should divulge that information for public consumption! And yet, these people live larger than life!

THE RIPPLE EFFECTS OF EMPHASIS OF MONETARIZED POLITICS ON THE IMPOVERISHED MASSES!
Nigerian politicians have at long last succeeded in spreading the DOCTRINE OF AVARICE TO THE MASSES and there is now FIRE ON THE MOUNTAIN IN FORM OF DISOBEDIENCE TO THE DIVINE COMMANDMENT AGAINST THE LOVE OF MONEY! PONZI/PYRAMID SCAMS AND CRYPTO CURRENCIES REPRESENT THE DANGEROUS AND DESTRUCTIVE FIRE ON THE MOUNTAIN AND OUR CANDID ADVICE IS THAT VULNERABLE CITIZENS SHOULD RUN, RUN, RUN AND RUN INTO DIVINE SAFETY! The Word of God states that: "The name of the LORD is a strong tower, the righteous runs into it and is safe. (Proverbs. 18:10). Nigerians should run into divine safety now because THIS PONZI, PYRAMID, MMM, GOLD, SILVER AND CRYPTO CURRENCY FIRES ARE VERY DESTRUCTIVE! POVERTY CANNOT BE ELIMINATED THROUGH PARTICIPATION IN DECEIT AND FALSEHOOD!

WHAT EFFECTS WOULD THIS DEVELOPMENT HAVE ON NIGERIA'S ECONOMIC AND FINANCIAL SYSTEMS?
The major fall-out of the avalanche of PYRAMID SCAMS in Nigeria is an imminent Capital Flight of all life savings of the middle-class/artisans - who occupy the strategic position of the national economy, as the Small and Medium Scale Entrepreneurs - into the vaults of the scammers who are mostly of foreign nationalities and who would disappear into thin air when they would have ravished desperate and stubborn Nigerians of their legitimate incomes!  The CBN on behalf of the Federal Government has taken pro-active measures by quickly alerting Nigerians on the imminent danger of investing in pyramid scams which can be aptly described as a suicide bid by any adventurer. In a statement, the banking house warned all citizens to desist from investing their monies into the scheme which is not guaranteed by any legislation especially the INTERNET CRYPTO CURRENCIES AND BITCOINS which are also gainning momentum! A word is sufficient for the WISE!

OUR ADVICE?  It was high time all avenues of stealing and legislative wastages under the guise of CONSTITUENCY/RUNNING COST ALLOWANCES be permanently blocked and we profer a new suggesstion of constitutional legalization for a UNI-CAMERAL LEGISLATIVE HOUSE OF 74 MEMBERS ON PART-TIME APPOINTMENTS. In the meantime the present crop of legislators MUST be forced to collect recommended salaries and allowances by the Revenue Mobilisation and Fiscal Allocation Commission (RMFAC), as prescribed under the Constitution of the Federal Republic of Nigeria, 1999.
"For what is a man profited if he shall gain the whole world, and lose his own soul? Or what shall a man give in exchange for his soul?" (Matthew. 16:26)


I am, yours sincerely, Dr. David B.A. Olufon. 08130669886, 08098194390.  08080243066   g-mail- dvdolufon@gmail.com.

z07ion:
"THERE IS PONZI FIRE ON THE MOUNTAIN, RUN, RUN, RUN!"

There is a pronounced dearth of good leadership direction in Nigeria and which vacuum had forced unscrupulous citizens to opt for suicidal Ponzi schemes and Pyramid scams in order to become suddenly "rich and affluent” like their political representatives who flaunt illicit wealth around in spite of the economic recession which the Change Agenda Government of the All Progressives Congress (APC), is grappling to overcome! Concerned, upright  and patriotic citizens, including the Central Bank of Nigeria (CBN), have warned against the get-rich-quick mania tendencies and the doctrine of avarice being disseminated by economic saboteurs, and have advised gullible Nigerians from falling into the crafty plots of losing their total life savings and investments to con men! But they, all in one voice boldly and brazenly told CBN to shut up and mind its own business stressing that they owned their monies and could spend or invest as they so desired!
PONZI SCAM is derived from the name of an Italian male swindler, Carlo Charles Ponzi. According to Wikitionary, the scheme is fraudulent in that earlier investors were paid directly with the money taken from new investors, giving the false impression that the scheme was a viable investment. There are many of these frauds being perpetrated on internet with millions duped of their monies and possessions and several suicides committed!
PYRAMID SCHEME is similar to Ponzi in that, it is also an illicit money-making investment scheme whereby earlier investors are paid primarily or wholly by later investors but eventually such schemes fail to the detriment of recent (later) investors! As in Ponzi, tales of woes, of gargantuan loses and suicidal deaths, have trailed all of pyramid schemes ever introduced to gullible persons! MMM (Mavrodi Mondial Movement), Scheme's international organisers have claimed not to operate a ponzi scheme but had evolved a system where participants provided money and circulated such money to support one another and in the process get 30% monthly interest on their investments. On 14th December, 2016, MMM Nigeria suspended the scheme, froze its accounts, suspended its internet site, but promised to re-open in one month, which it actually did on 13th January, 2017. In spite of this development, no one has been able to claim any money from the scheme as it was reported that one of the organisers had fled from Nigeria! Other such scams making rounds in Nigeria include, Diamond, Silver and Crypto Currencies Internet Businesses which we advise Nigerians should avoid like plague!

WHAT INFLUENCED MANY NIGERIANS TO FALL INTO THE TRAP OF PYRAMID SCAMS?
For many years after independence and till date, Nigerian politicians had lived in affluence and comfort from the sweat and blood of the so-called common people and peasants who are the artisans - farmers, labourers, scavengers, hewers of the wood and "mai ruwas" (drawers of the water), - whom they swore on oath to represent, protect and succour with the basic amenities of life. But during the administration of the First republic, the very first Minister of Finance was caught with thousands of thousands of the British Pound Sterling fully stacked in his wardrobes when his house was searched during the military interregnum!
When Labour Unions were formed to contend with unfavourable government policies and the discrepancies between politicians' stupendous wealth and the glaring poverty among the masses, the politicians played the game of "divide-and-rule", confronted and intimidated them on the streets with the guns and bullets purchased with the taxes paid by the protesters! Ethics had been thrown to the winds by these unscrupulous politicians who are insensitive to the plight of the TALAKAWAS! This is still the trend in the Nigerian polity where most POLITICIANS GET RICHER AND THE PEASANTS GET POORER! While all political office holders collect their salaries/allowances as at when due, the masses of workers were not so hopeful because they might get some small percentages of their entitlements while more than 12 months of arrears remained unpaid and outstanding in many States of the federation!
There was a public outcry against politicians' demands for WARDROBE ALLOWANCES AND SIMULTANEOUSLY FOR BRAND NEW VEHICLES in 2015 at the advent of the CHANGE AGENDA APC GOVERNMENT as in past administrations, but they manipulated and sidelined every financial best practice and due process to achieve their goals! It is on record that the Senators got 109 imported Sport Utility Vehicles (SUVs), in spite of scarcity of foreign exchange reserves while the House of Representatives members did not publicize their loots until Malam Aminu Jibrin exposed the rot among the peoples' representatives! THE OPEN DISPLAY OF ILLICT GAINS FROM THE LUCRATIVE BUSINESS OF POLITICS IN NIGERIA has consequently pushed desperate masses to the brink of wanting the get rich like politicians by hook or crook through ponzi scams and they cared less whether they lost or gained! We support President Buhari's total war on corruption especially on corrupt politicians of whatever divide and we request that special tribunals be speedily set up to hasten the prosecution of those found culpable so that those who are still making jest of the crusade will be silenced in shame, while convicted persons be cast into prisons where they had belonged from the onset of their political career which was achieved through FRAUD!

LUCRATIVE PRESIDENTIAL SYSTEM AND PDP POLITICIANS!
Apart from the prudent Parliamentary system of government practised during  the First Republic, subsequent Nigerian Constitutions opted for the very expensive Presidential system that catered only for the interest of the politicians rather than the people they claimed to be representing according to the1979, 1983 and 1999 Constitutions which gave latitude to extravagance through lavish expenditures on government officials. This Nigerian model of presidential system makes room for excessive outrageous salaries and allowances for public office holders outside of the CIVIL SERVICE STRUCTURE OF EMOLUMENTS and therefore inadvertently created room for envy and rivalry which have now manifested in collusion and collaboration of the two bodies in amassing illicit wealth; (the civil servants handled pseudo paper works while the political appointees signed them for cash), to the detriment of the workers who are left high and dry and with nothing to show for their labour!

HOW DID THE POLITICIANS COME ABOUT FREE FLOW OF ILLICIT MONEY?
The Nigerian political terrain has "porous borders" through which illicit monies found their ways into illegal pockets of unpatriotic politicians who had mastered how to bend the rules in their favour! Take for instance, the National Assembly  (NASS), Legislators (109 Senators and 360 Representatives), whose annual salaries, allowances and other emoluments were permanently shrouded in secrecy since the new attempt at democracy in 1999, in spite of a court order that the CLERK should divulge that information for public consumption! And yet, these people live larger than life!

THE RIPPLE EFFECTS OF EMPHASIS OF MONETARIZED POLITICS ON THE IMPOVERISHED MASSES!
Nigerian politicians have at long last succeeded in spreading the DOCTRINE OF AVARICE TO THE MASSES and there is now FIRE ON THE MOUNTAIN IN FORM OF DISOBEDIENCE TO THE DIVINE COMMANDMENT AGAINST THE LOVE OF MONEY! PONZI/PYRAMID SCAMS AND CRYPTO CURRENCIES REPRESENT THE DANGEROUS AND DESTRUCTIVE FIRE ON THE MOUNTAIN AND OUR CANDID ADVICE IS THAT VULNERABLE CITIZENS SHOULD RUN, RUN, RUN AND RUN INTO DIVINE SAFETY! The Word of God states that: "The name of the LORD is a strong tower, the righteous runs into it and is safe. (Proverbs. 18:10). Nigerians should run into divine safety now because THIS PONZI, PYRAMID, MMM, GOLD, SILVER AND CRYPTO CURRENCY FIRES ARE VERY DESTRUCTIVE! POVERTY CANNOT BE ELIMINATED THROUGH PARTICIPATION IN DECEIT AND FALSEHOOD!

WHAT EFFECTS WOULD THIS DEVELOPMENT HAVE ON NIGERIA'S ECONOMIC AND FINANCIAL SYSTEMS?
The major fall-out of the avalanche of PYRAMID SCAMS in Nigeria is an imminent Capital Flight of all life savings of the middle-class/artisans - who occupy the strategic position of the national economy, as the Small and Medium Scale Entrepreneurs - into the vaults of the scammers who are mostly of foreign nationalities and who would disappear into thin air when they would have ravished desperate and stubborn Nigerians of their legitimate incomes!  The CBN on behalf of the Federal Government has taken pro-active measures by quickly alerting Nigerians on the imminent danger of investing in pyramid scams which can be aptly described as a suicide bid by any adventurer. In a statement, the banking house warned all citizens to desist from investing their monies into the scheme which is not guaranteed by any legislation especially the INTERNET CRYPTO CURRENCIES AND BITCOINS which are also gainning momentum! A word is sufficient for the WISE!

OUR ADVICE?  It was high time all avenues of stealing and legislative wastages under the guise of CONSTITUENCY/RUNNING COST ALLOWANCES be permanently blocked and we profer a new suggesstion of constitutional legalization for a UNI-CAMERAL LEGISLATIVE HOUSE OF 74 MEMBERS ON PART-TIME APPOINTMENTS. In the meantime the present crop of legislators MUST be forced to collect recommended salaries and allowances by the Revenue Mobilisation and Fiscal Allocation Commission (RMFAC), as prescribed under the Constitution of the Federal Republic of Nigeria, 1999.
"For what is a man profited if he shall gain the whole world, and lose his own soul? Or what shall a man give in exchange for his soul?" (Matthew. 16:26)


I am, yours sincerely, Dr. David B.A. Olufon. 08130669886, 08098194390.  08080243066   g-mail- dvdolufon@gmail.com.

Well said and analysed but what's the true way forward? Much said on paper and in principles but not practiced

is dz a novel?