Ponzi schemes has been trending on social media lately following the arrest of the founder of Brisk Investment Capital for 2 billion naira fraud. He reportedly scammed hundreds of investors after promising them 60% returns on investment (ROI). He instead used their money to fund his extravagant lifestyle.

Ponzi scheme did not start today in Nigeria, infact millions of Nigerians have lost money in several 'investment' platforms. One would think that they will learn from experience, but the opposite is the case. Checkout 6 of the several notorious Ponzi schemes that have existed in Nigeria.

1. MMM: After contributing money to a fellow member, you were to receive three times what you contributed from other members. Sadly, the system was not designed to last.

2. Ultimate Cycler: With #12500 you can earn #50,000 in three days! Can you imagine that? There's no how this would have lasted. A lot of people lost money too.

3. Loom: Loom lured people to invest from #1000 to #13,000 naira and get back 8 times the money they invested within 48 hours. Sadly, the ended up scamming Nigerians of their hard earned money.

4. Micheno: This one promised 80% ROI but ended up duping Nigerians. The founder was arrested by EFCC for 320 million naira fraud.

5. Racksterli: This scheme promised over 150% ROI, it lasted about a year before finally crashing down.

6. MBA Forex: This company claimed to invest in forex and real estate. They promised 20% ROI within 6 months with minimum investment of #360,000 naira. They too came crashing down.

More can be found below:
https://www.operanewsapp.com/ng/en/share/detail?news_id=cf7a81bcffb33e20fc10985ba607dc89&news_entry_id=s16f425c2210526en_ng&open_type=tanscoded&request_id=news_6058f500-6009-4b64-9641-aca3ed31d07e&from=news

No ponzi can beat MMM in Nigeria.
Racksterli is for the recent mumuni and greed.
PRIME VAULT IS Of RECENT TOO.
I think Inksnation should be on the list

Others are :
Bara Finance

Baraza Multipurpose
Tonso Elite
Quintessential
SUGlobal
Liberty Financial ltd
DW Arerben Investment
Neris Global
Oba Forex
Insta Forum

MMM is the highest

A pastor in RCCG used his time on the pulpit to share MMM Flyer and even made sure his flock registered using his referrals.

Not only was he saving their soul from the devil, he was also saving their children schools fees from other wolves referral bonus accounts.

Omeaux MMM was the highest abeg

Fadama... Anchored by a so-called pastor, Katung, in Jos.