How to Scam 1000 young entrepreneurs and make millions of Naira before Christmas (10 easy steps below):

Step 1. Set up a platform called Africa's Young Entrepreneurs (AYE) and claim that it is the largest networking event for entrepreneurs in Africa.

Step 2. Use your connections to solicit for support/affiliation from a few prominent Nigerians and 'oyibo' people that we are supposed to be impressed by.

Step 3. Promise young entrepreneurs all over Nigeria that their business ideas will be funded. Make them go through a shabby 'application process' where they spend their precious time and hard earned money to travel long distances for screening then send them a congratulations email that they are BENEFICIARIES of an undisclosed award.

Step 4. Invite them to pitch their ideas at a panel but charge them huge sums of money for it (in 2015 struggling entrepreneurs were asked to pay N30,000 for a chance to 'pitch' their business ideas to a panel and most were given nothing in return. No mentorship. No financial aid. No resources. Nothing)
*Where on earth are people charged money to pitch their business ideas? This is called Advance Fee Fraud (aka 419) as it falls under Section 419 of the Criminal Code.

Step 5. Hold a fancy event at Oriental Hotel, Lekki and invite politicians to hijack it as a platform to campaign for 2019 (I am personally disappointed that Senator. Ben Murray Bruce would openly voice his support for former Vice President Atiku Abubakar towards 2019 elections, in a room full of Young Entrepreneurs seeking to take Nigeria forward not backwards.)

Step 6. Call the event "Networking With Giants Conference," but do not allow any of the attendees to have access to meet any of the "giants." Instead let the "giants" tell us the challenges of doing business in Nigeria (which we are more familiar with than they are, with all due respect.)

Step 7. In the middle of the program, invite Alibaba (the comedian) to unhumorously solicit for funds from the attendees INCLUDING THE ENTREPRENEURS WHO ARE SEEKING FOR FUNDING! UNBELIEVABLE!!! We are disappointed as to how a distinguished Senior Citizen such as Alibaba could be blindfolded into such a charade of an event.

Step 8. Hire Usherettes to carry POS around and harass people to donate money including the people who came hoping to get funding for their businesses. Really!??

Step 9. Gather all the so called BENEFICIARIES to snap group picture and give them cheap neck warmer and empty certificate paper with no name or signature on it as proof of what you have done (assumably for the purpose of soliciting funds from foreign donor organisations).

Step 10. Hire Lil Kesh and other artistes to perform to a room full of "BENEFICIARIES" who are still so confused at what is happening till at almost midnight they start leaving disappointed...after 3 months of application procedures, paying for ticket, travel expenses from different parts of Nigeria to attend a political event that they never opted for.

That is a simple 10 step process to scamming over 5000 young Nigerian entrepreneurs as executed by Summi Smart Francis, founder of AYE.

Summary:
The AYE 2017 "Networking with Giants Conference" was simply a night of politics that was played with young aspiring Nigerian entrepreneurs as the pawns. A very fine show of the true position of the Nigerian youth today - mere tools for political ends while the youths themselves return home empty handed after the politics have been played.

We sincerely appreciated the presence of the dignitaries present especially the likes of Fela Durotoye who gave a compelling talk about the future of Nigeria and the ABC's of getting it right for the sake of the youths upon who the future depends. We also appreciate the likes of Patrick Utomi and others who shared their wealth of experience in the Nigerian business terrain, likewise the warmth of Mrs. Folorunsho Alakija who has been grand matron of the event for 3 years running. But what we saw last night was a sham!

Please share this post until it goes viral. Mrs. Folorusho Alakija (grand matron of AYE), Chief. Bola Ahmed Tinubu (grand patron of AYE), Fela Durotoye, Pat Utomi, Sen. Ben Murray Bruce, former Vice President Atiku Abubakr, Fidelity Bank Managing Director and all the other dignitaries at the event too numerous to mention deserve to know hear our feedback since we were not given audience that night.

We wish to state that the Nigerian youths will no longer be used as pawns to political ends. We hereby urge the above named distinguished citizens of Nigeria to caution the activities of the management of the Africa Young Entrepreneurs platform and its founder Mr. Sunmi Smart Francis.

We shall be seeking redress via due process soon.

(Kindly share on every social media platform available, tag anyone who attended the AYE 2017 conference and tag bloggers and news outlet willing to publish this piece)

Courtesy, a Scammed 'Beneficiary.'
Teniola Esan Esq

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Lols, forget raising funds or meeting any serious investor at Nigerian entrepreneurship event. Many of these called social entrepreneurs claiming to be helping start ups are thieves. They go solicit for funds on behalf of a " program", demand an equity from founders with promises of meeting investors and getting your business funded, in the end you realise it's all scam. I have been there before.
Except, your product can attract international recognition or someway novel. Forget about getting funding from Nigerian investors. Just keep on with your work and apply to foreign acceleration programs. Your work will speak. Nobody knew paystack until they got to Y combinator in california. Now everyone dey famz with them. If they had approached some of those wanting to invest now some 3 to 4 years back, the answer would have been No. This is a problem in Nigeria. I understand what the economy is but truth is just like the citizens, there is lack of foresight and thus risk aversions in the business and investment environment.
Never pay to pitch to investors. That's a wrong step for any serious entrepreneur. They investors are not helping you, you are helping them. That was even a red flag. You are selling a future multi million dollar company to them. You are giving them an opportunity to turn their thousands of dollars to millions in equity. Why pay them to release. Never pay, unless it's an acceleration program that promises you an investment and gives you the money even before the start of the program.

majekdom2:
Lols, forget raising funds or meeting any serious investor at Nigerian entrepreneurship event. Many of these called social entrepreneurs claiming to be helping start ups are thieves. They go solicit for funds on behalf of a " program", demand an equity from founders with promises of meeting investors and getting your business funded, in the end you realise it's all scam. I have been there before.
Except, your product can attract international recognition or someway novel. Forget about getting funding from Nigerian investors. Just keep on with your work and apply to foreign acceleration programs. Your work will speak. Nobody knew paystack until they got to Y combinator in california. Now everyone dey famz with them. If they had approached some of those wanting to invest now some 3 to 4 years back, the answer would have been No. This is a problem in Nigeria. I understand what the economy is but truth is just like the citizens, there is lack of foresight and thus risk aversions in the business and investment environment.
Never pay to pitch to investors. That's a wrong step for any serious entrepreneur. They investors are not helping you, you are helping them. That was even a red flag. You are selling a future multi million dollar company to them. You are giving them an opportunity to turn their thousands of dollars to millions in equity. Why pay them to release. Never pay, unless it's an acceleration program that promises you an investment and gives you the money even before the start of the program.

exactly. I knew this ayeen was a scam from the first day. I wonder why they have such caliber of persons backing them.
my friend qualified for the "grant" with a promise of 9 million to fund his venture, eventually, they said they will instead give him as a loan. he agreed. till today, they have been foot dragging.

Lalasticlala

That was definitely a scam. How do you pay someone to fund you

The moment they sent me account number to pay in, I knew it was an organized scam. Nothing told me to disregard the mail.

Xone3:
The moment they sent me account number to pay in, I knew it was an organized scam. Nothing told me to disregard the mail.

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I am always surprised when some people go ahead to pay. you did the right thing

Lalasticlala, seun, mynd44

Abeg push this thing of front page ooo

Ayeen programme done come again ooo

I believe the op, if you have ever attended any of this entrepreneurship event before you will know and confirm what he is saying.

My first time to Lagos for one entrepreneurship program organized by a real estate company, all the people they picked that day had access to the organization as if they have already selected whom to pick.

Come see guyz and girls with suit thinking it was free pass like bbn not knowing it was a scam, my only happiness was that I was in Lagos the big city.

Ayeen is a scam I repeat ayeen is a scam they will ask you to pay for you to pitch and as well as some other form of registration that the op did not mention

Tell me a Nigerian successful business man that went for screening and pitching for pienut and I will tell you that the business will not be a success I stand to be corrected and proven wrong.

If your business is worth it they will see your work they will look for or you will look for an investor without stress.

This is interesting! I wish I had read this before applying for the 2018 registrations. The worst part is that all business proposals submitted to them that was not written by their approved writers were rejected. Then when you contact their approved business plan writers they charge between N25,000 - N30,000 per proposal.

Well, we are already in ti and will see to the end of it.

Howfar any useful update

okey4Christ:
This is interesting! I wish I had read this before applying for the 2018 registrations. The worst part is that all business proposals submitted to them that was not written by their approved writers were rejected. Then when you contact their approved business plan writers they charge between N25,000 - N30,000 per proposal.

Well, we are already in ti and will see to the end of it.

If it's truly a. Scam which is partly Obvious, then I. Have. Fallen for the second level of the. Scam plan. The #AYETRUSTFUND. why am now sceptical is the fact that their customer care agent denied connection with Ayeen of which it's they contacted me with same email for my Ayeen reg. I Have Put in for The trust fund now. But how can this be happening under osinbajo's watch?

Entrepreneurship competitions in Africa are a big scam

jidowu84:
If it's truly a. Scam which is partly Obvious, then I. Have. Fallen for the second level of the. Scam plan. The #AYETRUSTFUND. why am now sceptical is the fact that their customer care agent denied connection with Ayeen of which it's they contacted me with same email for my Ayeen reg. I Have Put in for The trust fund now. But how can this be happening under osinbajo's watch?

Run for your life now that you can!

aprokomania:
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I am always surprised when some people go ahead to pay. you did the right thing

immediately they requested for money to prepare a business plan, I knew they were out to scam & warned off as many as i could then.
It's a pity though, some will still fall victim.

But my question is this "AYE TRUST FUND" how real is it.
The website is: www.ayetrustfund.org

This is sad to hear but not surprising. Anything Nigerians are involved in is a potential scam.
I used to enjoy watching the show back then.

That Sunmi Smart Francis guy always rubbed me off the wrong. He has this fraudulent and predatory aura.
I won't be surprised if he is also a sex offender.

To think Osinbajo and Ali Baba are supporters.

Na wa.

steamzy:


immediately they requested for money to prepare a business plan, I knew they were out to scam & warned off as many as i could then.
It's a pity though, some will still fall victim.

But my question is this "AYE TRUST FUND" how real is it.
The website is: www.ayetrustfund.org

Yes, it is. it is more like the regular cooperative society but a modern and modified one. I think you should check them out. I have been a regular beneficiary, used to think its not true too until a friend introduced me and I just tried it out last year.