Win $1 Million.

I don’t know if anyone has noticed the new method most coys employ to generate capital for their business. They come in form of promo’s/bonanzas and it goes all year round.
Especially most of the telecom coys, it’s like a competition among them, 525milion, $1miilion. Good as it may seem, this are just avenues to exploit the masses, I mean non of this promo is free, you are either required to call or send SMS to a number, where u are charged 50-100 naira, this little amounts can get up to millions of naira for the coy who only give out a few million to winners.

Instead of truly rewarding their customers for their patronage by making this promo’s free, they still collect money from them. In my opinion, this coys are just raising money for biz, it’s like an open capital market, only this time, investors don’t get any benefits, just a lucky few who emerge as winners, are given a paltry sum from the millions they make from this promos.

This is not good, as this coys are supposed to go to the ‘’real’’ capital market if they need to raise funds, and to think that after all the money they collect from the unsuspecting public, they still have the guts to post losses in their financial statements, thereby evading tax. This coys, (mostly foreign) are taking us for a fool, and no one is saying anything about them, I think its high time there’s a kind of legislation to stop their activities,
Especially with the promo’s, if they really wanna give something out, then it shld be free, not give with one hand and take with the other.