I can't hold it anymore, I have watched my mother, father and elders around me throw money into this scam. My mother registered all of us, her grand children, siblings and people she wants to help with #3,500 about August last year. She spent over 70k from the meager money we send to her from time to time now different other companies are keying I to the scam and selling their own forms too, my dad joined too and now thy have spent over 200k registering all their loved ones and children. According to the organizers, this was how dangotes started and this money has been coming in but was shared by only the senators and Presidents but now, we are lucky some good people fought with the govt and made it available for all to share.
They claimed world bank was financing it which the world bank has come out to deny.
Now they said that they are being financed by foreign charities thorough microfinance banks. They claim 1 trillion dollars is being expected.
The lead company here is social exchange market, other NGO's and organisations marketing this scam include:
Ishiba devt fund
Bethany
Sunlight
Huntersinternational
Greater Impact Microfinance Bank and many others

The bulk of people subscribing to this are older people and people with limited access to information. By my estimates, they have pilled in over 10billion naira.
Now, they are asking everyone to pay another money for documentation / verification ranging from 500 to 2500 which can rake in another 3billion naira. My mother has started starving herself and selling her wrappers to raise cash as we refused to give her money again.

I learnt one Leonard olukayode (don't know how true or if its an alias) is at the helm of this scam. Now he says the money will come by October (delay tactics) this is the 6th time he's posting this.

EFCC, DSS, ICPC, CBN, CPC and all investigative dept need to rise up and tackle this like they did MMM. This scam is huge and they target rural areas and elders.

Seun, lalasticlala, mynd44 please push this to front-page

https://www.worldbank.org/en/news/press-release/2017/09/06/fraud-alert-world-bank-warns-of-co-operative-scheme-scam

http://www.socialexchangemarket.org.ng

Some pictures

This is serious

This may not reach front page as it's like cult like scam........what gave the OP assurance that the owner of this platform is not involved in this elite fraud..... They will be asking you for source to shield it from reaching FP

You can complain to the CBN with the details of the scam on cpd@cbn.gov.ng

hm suprisingly ths threat is so quiet. I ve spent over 5k on ths

freemi:
hm suprisingly ths threat is so quiet. I ve spent over 5k on ths

They keep promising this month, next month ......
Ghana has collected, Benin has collected it remains Nigeria, efcc is looking into it.......

Pay this amount for verification, you will receive payment by month end unfailingly

Please run

jasmines:


They keep promising this month, next month ......
Ghana has collected, Benin has collected it remains Nigeria, efcc is looking into it.......

Pay this amount for verification, you will receive payment by month end unfailingly

Please run

daem! Ths is rilly high class scam.

freemi:
daem! Ths is rilly high class scam.

U can say that again.

As i speak now the collection is going on in one of d Whatsapp group they added me they saidv we should pay #500 to be in the first batch and a lot of people are paying to their account.