I wonder how human beings will reason that their government will frustrate genuine businesses so that the poor masses will not get rich.

When will our Nigerian people stop thinking like mice?

It is the government that stands the most to gain if the Nigerian masses get rich overnight through genuine means.

You must be a clown denex,

In case you dont know u dont have a govt. that cares for its masses.

All it takes is for som1 in govt. who doesnt like the sceme or who the scheme doesnt favor, to give a command and thats it.

stop deceiving urself that the govt. cares for you, u make me laugh

denex:

I wonder how human beings will reason that their government will frustrate genuine businesses so that the poor masses will not get rich.

When will our Nigerian people stop thinking like mice?

It is the government that stands the most to gain if the Nigerian masses get rich overnight through genuine means.

Are you an economist?

GTay:

You must be a clown denex,

In case you don't know u don't have a govt. that cares for its masses.

All it takes is for som1 in govt. who doesnt like the sceme or who the scheme doesnt favor, to give a command and thats it.

stop deceiving yourself that the govt. cares for you, u make me laugh

Got to be the dumbest thing I've read for quite a while. You are calling someone else a clown and then you type that nonsense.

@Denex
Can you kindly let me know your views about these schemes?

My view
-Get rich schemes managed to get licenses and they opened for business
-For like a year, no policy statement from the government (Nospecto had been on for more than a year before others came)
-The scheme got popular amongst the down trodden (even the working class were not left behind)
-The scheme got so popular that in one of the south western states, they had about 50 in operation
-These companies managed to get more than 800million naira in cash deposits from the people

-The government of Nigeria, through the CBN, came on air with advertorials
-They chided the populace for patronizing the "wonder banks"
-The commercial banks started frustrating their efforts(wonder banks)
-It was too late because hard earned money had been sunk already
-The "wonder banks" started having problems because people wont deposit money again after the warning
-Many of the "wonder banks" went under because their were little or no patronage again after the CBN's advertorials


-At a point, the activities of some of the 'wonder banks' were under scrutiny by EFCC and they were left off the hook because they didnt see anything fishy in their business. CBN even said, they couldnt find anything wrong in what they were doing

-My view is, the people of Nigeria saw offer( too good to be true), had a double mind about it but got encouraged knowing they were fully registered and after the EFCC's clean bill of health.
-The regulatory bodies left it too late to kill them off using the commercial banks.
-They shouldnt have been allowed at all.
-This isnt a case of people being greedy but a case of someone somewhere not doing his or her job.

This is just my own view. It may not necessarily be the case. No insults ooo abeg
My points are in bullets

@tkb417

I agree with u, but I think the regulators (if there are any) can do better than just using the commercial banks to snuff life out of the "wonder banks". In other words, who is beneffiting from this trapped funds?
The trapped funds are better returned to the depositors even if its on pro rata basis, cos I doubt if there's any insurance in place.
Shalom!

@GTay

you're calling me clown when you are the real Charlie-Charlie.



@tkb417

Those schemes are a complete sham. Go to the FBI website and look for list of scam formats and you will see them.


The problem with goverment action against this kind of scam is that the entire deal appears absolutely genuine till the very end when the crime will finally unfold.


The Federal Government of Nigeria cannot arrest me legally for asking you to invest in me with N2,500 and get N250,000 in return after 2 weeks and 6 months. That is not a crime.


When I give you the initial N1,000 at 2 weeks, I makes my deal seem the more genuine and brings more doubting Thomases to come and invest. It also puts the Government in an awkward position and incapacitates them from being able to confront them because of fear of enraging the masses. All the Government can do is appeal to the masses to be careful.


Where the drama of the scam unfolds is when 6 months elapses and the early adopters of the scheme are about to collect their balance of N249,000. That is when you start hearing come today, come tomorrow. That is when you here that our account is having some slight delays. That is when you hear that our systems are down.
That is when you begin to realise you have been a maga all along and you have volunteered to bring other maga into the scam with your own free-will.


That's how it works. It is an old scam and it will still return in a couple of years. Only this time, I will open one of such organization and redesign the scheme so that I will teach these poor masses that are so hard of hearing.


I'm going to call my own "wonderful bank": GET RICH QUICK INVESTMENTS.

My own Scheme will be calling for investment of N1 million to get N1 billion in 12 months with installmental payments of:
N10,000 first month
N50,000 second month
N100,000 third month
N500,000 fourth month,

By that time, the maga has helped me con other braindead perpetually poor people like himself to sell their ancestral houses to invest in my scam.


By the fifth month, I'm in some quiet corner in Tianjin, China building the best private English Language School in China. Not forgetting my Fishery plan on the coast with 50 million yuan sitting in my bank account.



I'm telling you all this because when the time comes, even if go on NTA and tell the whole world, the masses will still invest. Even if you print out this page and put it in the Guardian Newspapers, you're just wasting your time. These people are totally numb-brained.
That's why they are called THE MASSES. If they were smart, they wouldn't be poor in the first place.

Ok. you try am first.

Really,i dont know why people can just open their mouths and say things without getting proper facts before apportioning blames.if i were you i would walk up to the address given and find out what they are in to before knowing what to say exactly.

I am a member of the exchange and i have been with them for over 9 months,the money to be payed is for them to give you their service which is to put you on a platfrom where you can see things to buy and sell from and to other members.

I av been buying and selling both nationally and internationally,so it beats my imagination.they can not jail the guy cause he is not running any wonder bank here,its just called trade exchange.its no fraud at all cos its real.Trust Nigerians,everybody wants to buy nobody wants to sell so it becomes a new ball game.

The guy,is running is business well and cool at that,the office is still functioning well,duelly registerd and observing all protocols.

People,pls lets us know wats up before blaming people.

The guy,is running is business well and cool at that,the office is still functioning well,duelly registerd and observing all protocols

what business are you talking about?
we were made to understand he took money and didnt redeem his promises of returns. is that what you call observing all protocols? Thats 419 my dear

@BIMBY4REAL

what in the name of Allah/Jehovah/Ywyh/Ogun/Budha/Chi/Osun are you buying and selling that can turn my N2,500 into N250,000 within 6 months?

Is it exercise books? Even Heroine cannot make that kind of profit.

For God sake ask for understanding and i will enlighten you.All you need to do is to ask me personally for my benefit.Dont mix things up,its no 2,500 for 250,000.you only pay for the platform that will enable you to view other members products thats all and you can buy as much as you wish within your loan which is in trade credit and not in CASH.HE NEVER PROMISED CASH GREEDY NIGERIANS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!.seek understanding before dabbling into things.I saw the dailies and i went to the office and bought the ideas cos i do this in the US.so its working.Its been existing for over 30yrs.

Really, its a good concept but Nigerians are yet to perceive it.ITS NO FRAUD AT ALL.


Mr AFam or whatever your name is,you need to get something doing spo as to get busy and stop blaming people for your POVERTY!!!!!!!!!!!!!!!!!!!!!!!!!.MFM IS WAITING FOR YOUR SEASON OF FASTING AND PRAYERS TO DELIVER YOU.


GOOD LUCK TO YOU COS I NEED TO GET BACK
TO WORK NOW WHICH YOU DO NOT HAVE.

But that is only your fault, because until now you have imagined everything Divine, everything that comes down from God, to be tenderly loving and all-forgiving, since that is what the churches have taught you!But these false teachings were only intellectual schemes aimed at the masscapture of human souls on earth.

In order to catch something, a bait is needed that is attractive to everything at which it is aimed. The right choice of bait is the main thing for each catch.

Now as this was intended for human souls, a plan based on their weaknesses was skilfully devised. The lure had to correspond to the main weakness! And this main weakness of the souls was love of ease, the indolence of their spirit!

BIMBY4REAL:

For God sake ask for understanding and i will enlighten you.All you need to do is to ask me personally for my benefit.Dont mix things up,its no 2,500 for 250,000.you only pay for the platform that will enable you to view other members products thats all and you can buy as much as you wish within your loan which is in trade credit and not in CASH.HE NEVER PROMISED CASH GREEDY NIGERIANS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!.seek understanding before dabbling into things.I saw the dailies and i went to the office and bought the ideas because i do this in the US.so its working.Its been existing for over 30yrs.

Really, its a good concept but Nigerians are yet to perceive it.ITS NO FRAUD AT ALL.


Mr AFam or whatever your name is,you need to get something doing spo as to get busy and stop blaming people for your POVERTY!!!!!!!!!!!!!!!!!!!!!!!!!.MFM IS WAITING FOR YOUR SEASON OF FASTING AND PRAYERS TO DELIVER YOU.


GOOD LUCK TO YOU COS I NEED TO GET BACK
TO WORK NOW WHICH YOU DO NOT HAVE.

@BIMBY4REAL
You are looking like a fake person, are you an agent of satan?
why MFM in this discussion?

I do not think it is proper to give support to fake things. FORUM and co were here.

Death cases has been recorded from these activities you are defending.
Are u SATAN yourself or the agent?

But that is only your fault, because until now you have imagined everything Divine, everything that comes down from God, to be tenderly loving and all-forgiving, since that is what the churches have taught you!But these false teachings were only intellectual schemes aimed at the masscapture of human souls on earth.

In order to catch something, a bait is needed that is attractive to everything at which it is aimed. The right choice of bait is the main thing for each catch.

Now as this was intended for human souls, a plan based on their weaknesses was skilfully devised. The lure had to correspond to the main weakness! And this main weakness of the souls was love of ease, the indolence of their spirit!

whats this? is this about the topic? Please, call the interpreter

Yes It is parts of it,

Get 250,000, for just 2,500

It was the bait

Church members ,Pastor were all involved

Get rich quick

@BIMBY4REAL

what is the name of this business itself. What is the name of the business and what do you guys buy and sell? Is that not the question I asked you?

I used all the names of God I knew to beg in order that you may answer a simple question. WHAT DO YOU BUY AND SELL?

I've also added a new question: WHAT IS THE NAME OF THIS KIND OF BUSINESS AND WHAT SECTOR OF THE ECONOMY DOES IT BELONG?

Below is a link to the FBI page which you claim this business is doing well. Check the common fraud schemes. Read there the Prime Bank Fraud Scheme (which we here may call Wonder Bank), the Ponzi Fraud Scheme and the Pyramid Fraud Scheme.

Choose your poison. Though I'm sure what you're peddling here is the Prime Banks Guarantees (Wonder Banks). That Fraud is nothing new.

Like I said before, maga must everly fall.

THE NAME OF THE BUSINESS IS WEALTH EXCHANGE,AS A MEMBER YOU PUT YOUR PRODUCTS ON THE EXCHANGE E.G,IF YOU ARE INTO COMPUTER SALES,YOU OFFER YOUR PRODUCTS AND OTHER MEMEBERS WILL ALSO DO SAME,IT WILL BE ADVERTISED IN THE EXCHANGE AND IF YOU ARE INTERESTED IN THE PRODUCT YOU CALL YOUR FELLOW MEMBERS UP.GET IT STRAIGHT ITS MORE OF TRADE BY BARTER SO TO SPEAK.NO BANK HERE!!!!!!!!!!!!SO DONT BOTHER WITH THE HEAD LINES OF THE DAILIES THEY CAN SAY ALL SORTS WITHOUT GETTI NG TO THE ROOT OF THE MATTER.PM NEWS AT THAT.

IF YOU NEED ANY OTHER DETAILS LET ME KNOW,COS I JUST GOT A WRISTWATCH NOW FROM A MEMBERS SHOP,ITS A VERY GOOD CONCEPT AND I CAN BET YOU WOULD WANT TO JOIN.I DONT HAVE ANY REGRET AT ALL.


hnd holder,

I told you earlier that they did not promise 2,500 for 250000 ere,there is no cash involve,the amount you pay is to put you on the plat form.dats all,at least speaking from experience,i only payed to have access to the platform.

Ok let us analyze what you are talking about here. Are you saying "Wonder Banks" do not exist?

Wow! So trade by barter is such a profitable business? Our ancestors must have truly been billionaires.


Why don't we even call on the CBN to stop printing and minting cash, why don't we tell banks to stop accepting cheques and ATM Cards. Let dem be recieving Yam and Live Goats as payment and soon the entire Nigeria will be the wealthiest nation in the world.

WEALTH EXCHANGE indeed, Wealth exchanged for Poverty you mean.

BIMBY4REAL:


Mr AFam or whatever your name is,you need to get something doing spo as to get busy and stop blaming people for your POVERTY!!!!!!!!!!!!!!!!!!!!!!!!!.

MFM IS WAITING FOR YOUR SEASON OF FASTING AND PRAYERS TO DELIVER YOU.

Empty barrels they say make the loudest of noises.

6 posts on a forum and your are this bitter and frustrated?

I clicked on your profile and what I saw on this page is discouraging for someone accusing others of being poor.

Make una follow me see this link https://www.nairaland.com/nigeria?action=profile;u=69321;sa=showPosts

3 out of the 6 posts are on this thread trying to justify this scam.

1 out of the 6 don't make sense.

The remaining two were about submitting CV to a company and thanking someone for providing information on a vacancy on another topic.

Well, it seems that this dog really need to take the advice that she was freely giving out as her situation is really bad.

And for a lady @ 27years with this level of reasoning I dare say you will have a big problem having a husband or even a boyfriend, sorry but that's the way I see it.

@topic,

So, this whole thing has boiled down to trade by barter, na wah ooo. I will return all the naira I have to the bank and start doing business that way eg I setup your business website and you give me a brand new car in exchange. Wow!!!

Nigerians should be bold enough to accept that they have been fooled into parting with their money for returns that never existed in the first place.

Na wa oo. ;DYou really dig her profile out and analyzed it

I had no choice. When someone you do not even know come to a forum to abuse you for airing your views on a clear scam being run by someone you are provided with very few options. Many some people think a public forum is a place where they throw insults about and expect to be hailed for doing so.

@ Afam,

u still are missing the point here and infact have not said anything reasonable to convince any sound minded individual on why investors should be TOTALLY blamed for their misfortune. Law they say is made for the man, and not man for the law. Now how was this guy able to operate since the 2001\2002 u knew his scam network?( chances are that he has been operating longer before then). will u howbeit now admit EFCC\ICPC\ and the Nigerian police should be blamed for "unleashing" such a terrorist on an unsuspecting public for close to a decade who is getting bolder because of the lapse in our security system? my dear afam, i will also blame you for not using your intellect and advantages at your disposal to help bring this man to book. afterall, you knew him since 2001\2002 and even had the "rare opportunity" to speak with him on phone.  u owe it to this society as a good citizen and as enshrined in our constitution to do help nail this man. therefore, i will put it to you that you have no Moral Justification WHATSOEVER to come on a public forum like this and blame people whose interest you and the government you are trying so hard to defend failed to protect. (no offence or insult intended)

ok, so CBN did newspaper publications to say don't invest in wonder banks abi? enh ehh! did i hear an applause?NONSENSE! so what about my uneducated granny that can't read a newspaper or comprehend any media information? do you now see why an outright removal of such a dangerous man from the system is the appropriate thing to do. Government owe it a duty to protect it citizens from such a man (Even the gullible should be protected).
the mere fact that ran disclaimers is enough evidence that they saw a round peg in a square hole. so what next did they do? ABOSOLUTELY NOTHING. they simply ran the disclamer and hoped or expected my suya man to see it and be informed.it makes perfect sense. right? now u mentioned he's probably registered as an internet and along that lined company. ok ok wait, it still falls back on the same government that an office is registered for one thing and used for another. it is a shame that CAC cannot do some monitoring of registered ventures to ensure strict compliance with the purpose which the outfit was registered for. see, i can go on and on, but will just have to stop here and wait for you to give me a sound reason on why lazy and greedy people should be entirely blamed for falling victims to such fraudsters.

am i justifying or making excuses to the victims? NO. what i have a problem with is that you seem to think Government should be absolved of any wrong doing.

This is what Oyibo people refer to as balderdash. Somebody's grandmother wants to invest in trading Prime Bank Notes and you think the Government should be held responsible.

Is it not in the USA that some fraudsters are selling plots of land on the Moon to citizens and the Government cannot do anything?

www.lunarregistry.com
www.moonshop.com
www.lunarembassy.com

denex:

This is what Oyibo people refer to as balderdash. Somebody's grandmother wants to invest in trading Prime Bank Notes and you think the Government should be held responsible.

Is it not in the USA that some fraudsters are selling plots of land on the Moon to citizens and the Government cannot do anything?

www.lunarregistry.com
www.moonshop.com
www.lunarembassy.com

and what is your point exactly?

I was thinking of sending an appropriate reply when I read this

dude:

@ Afam,

u still are missing the point here and infact have not said anything reasonable to convince any sound minded individual on why investors should be TOTALLY blamed for their misfortune. Law they say is made for the man, and not man for the law. Now how was this guy able to operate since the 2001\2002 u knew his scam network?( chances are that he has been operating longer before then). will u howbeit now admit EFCC\ICPC\ and the Nigerian police should be blamed for "unleashing" such a terrorist on an unsuspecting public for close to a decade who is getting bolder because of the lapse in our security system? my dear afam, i will also blame you for not using your intellect and advantages at your disposal to help bring this man to book. afterall, you knew him since 2001\2002 and even had the "rare opportunity" to speak with him on phone. u owe it to this society as a good citizen and as enshrined in our constitution to do help nail this man. therefore, i will put it to you that you have no Moral Justification WHATSOEVER to come on a public forum like this and blame people whose interest you and the government you are trying so hard to defend failed to protect. (no offence or insult intended)

but changed my mind when I saw this

dude:

am i justifying or making excuses to the victims? NO. what i have a problem with is that you seem to think Government should be absolved of any wrong doing.

Guy, you are not even sure where you stand, sorry.

Maybe if someone promises to make you the president of Nigeria in 6 months if you paid him N2M and after 6 months you are no where near Aso Rock you will turn around and blame anyone that have ever seen the person that made such a promise to you.

I have actually written more than is necessary based on your write it.

Suit yourself, believe what you want to believe but do me a favour, organize your thoughts abeg.

@dude

my point is that there is a level of crass stupidity and absolute imbecility and idiocy bordering on insanity which when some citizens have made up their mind to be engaged in, there is nothing their Government can do to help.

Whether it be in China, India, the USA, Germany, Nigeria or Japan, the government has to give the citizens freedom to express their monkeyness. The only other option would have been to send out soldiers to start flogging Nigerians at random.

This trading of Prime Bank Note scam is so well planned that the only evidence that a crime has taken place is the inability of the organizations to fulfil on their final payments, by which time they've most probably escaped and are nowhere to be found.

We all know that Nigeria has lived under a dictatorship for a very long time, but that doesn't mean that the Government should go about arresting people for "suspicion of intention to commit a crime".

Even in the USA, go and check the FBI website. They were advising people to be wary of such investment deals. This is the same advise that the CBN gave. I don't know why people always want the Nigerian case to have superhuman dimensions.

@ Afam,

u have left issues to chase shadows.your example of aso rock is nowhere near this issue. we are talking about lisensed coporate venture (dully recognised by Law)siphoning people's fund here. and not a domestic "gentleman" agreement as in the example you used.  if the post had mentioned the Gamblers by Wuse shopping Plaza duping people, you will have had every right to call them stupid. but can they be called stupid for venturing into a legally backed outfit which had all the perks of a coporate identity?


Maybe if someone promises to make you the president of Nigeria in 6 months if you paid him N2M and after 6 months you are no where near Aso Rock you will turn around and blame anyone that have ever seen the person that made such a promise to you.


[quote][/quote]

read up my first response to this topic, i asked if these people were faceless. over to you, is this wonder bank a mere gambimg house? No, most people invested because they had due backing of the Law and relevant Authorities. so if their investment goes awry, then the Authority's and by extension the Government should be blamed for lisensing a fraudulent venture.  i noticed you Largely ignored the salient issues i raised and choose to dwell on trivialities. i've followed your posts,and with due respect i will start exchanging Abusive words with u here.

now incase you are not clear with my early post, what i was trying to say is that  the arrow of blame points in both directions (Investors and Government) because this case is not new, and the antics in every case of this nature are almost similar. so the people should take a slap on the wrist for falling to a fruad with a large history. But it still does'nt and certainly can't excuse the inefficiency of the government and it's agencies. so what efforts did u make in alerting the public either via your blog or any other means to alert the public you are quick to call stupid for falling prey to "wonder bank" and it's proprietors you have known since 2001\2002?

once more afam, you are not saying any thing to convince any intelligent person on why we should'nt lay the heap of blame at the doorstep of the government. if you have anything new, post a response and let's take it up from there, and be sure you address issues please.

@ denex

Good thinking. there will always be idiots no doubt, but it stil does'nt excuse the fact that somepeople have not been doing their Jobs. are you trying to tell me that we should accept this kind of situation simply because it has happened in other societies? i am not saying people should be arrested on suspicion to commit crime as you said, but Checks and Balances will certainly go a long way to checkmate  large scale fraud of this nature. Cheers

I clearly see everyones point, but with regulations and restrictions this kind of legalised 419 could have been prevented or curtailed to a minimal.

The government is the watch dog for the citizens and should be responsible for protecting them.

@dude,

To be honest with you I won't waste my time responding to non issues.

Was the guy operating a bank or a wonder bank?

He simply made outrageous promises to gullible people who refused to think through the promises and the penchant for making millions without lifting a finger took the better part of the people involved.

Now that you are aware of who the guy is, I have been waiting to see you pay for notices on TV, radio and newspapers or are you not interested in warning Nigerians?

Following the arrest of some directors and managers of Ibadan-based wonder banks by the Oyo State Police Command, depositors whose money is trapped in the banks, have continued to besiege the Headquarters of the state police command in a bid to get back their money.

Three of the depositors who spoke with P.M.News this morning, said they resorted to coming to the police command when they heard that some of the banks’ executives have been arrested.

The three depositors who spoke on their plight are: a staff of Federal Ministry of Information who identified himself as Shola, Mama Femi and another one who pleaded to remain anonymous.

Sola stated that he had N500,000 trapped in one of the wonder banks called Open Gate.

He said that for the past one week he had been tyring to get a police officer to assist him get his money.

He claimed to have tried hard to see the commissioner of police to no avail.

Mama Femi on her part, claimed to have N500,000 trapped in Wealth Solution, another miracle bank, adding that another N500,000 is trapped in other wonder banks.

The woman who does not want her name mentioned, said she works with the Oyo State Government, and that her N900,000 is trapped in Wealth Solution.

“Out of the N900,000, N100,000 is my own money. I raised the remaining sum from a cooperative society and it seems everything is gone.”

Menwhile, in order to control the huge number of depositors that have besieged the police command, the police authorities have beefed up security at the headquarters.

For the past one week, more armed policemen have been deployed to guard the entrance of the police command to stop depositors from trooping into the barracks.

Despite this, some depositors still find their way in as they are desperate to get back their trapped money.