ppogba:




Totally agree with you that Obaseki's endorsement made people buy in.
But you should know that most governors are lazy and the moment someone or group of persons presents an idea on their table, pronto, they believe in it because they themselves have nothing to showcase as an achievement. Especially, that commissioning of the farm etc.

Most especially, these guys are smart and have a target. Remember, they invested too. Their own investment it the trap.

From what I read here, they didn't set out as a scam company, so the government keying in when they still operated in their legit ways shouldn't be faulted. The company was divested and they started offering customers bogus interest rate which they couldn't keep up with and thus resorted to perpetrating a ponzi to stay afloat.

HayB100:
Lol, people will NEVER learn, omo, anything related to online investment, I WILL NEVER EVER do it. If they are earning millions from it, all the best for them, I am always cautious 🤣🤣🤣🤣

sometimes they can be very tempting

omoadeleye:
Sorry guys, they didn't scam anyone they just ran into debt and can't pay back and can't withstand investors again so they had to skedaddle.

Just move on to another scheme

Its a scam.
They never made a dime in profit from their "real" business.
They were paying old investors with new investors money.

Una never see scam.. it's coming ... this one farmforte..,, wait governmentForte is coming.

dalaman:


Dangote refinery is in the same league with these fraudulent companies in reality. Let me explain. We are now in an enegry transition era, refineries are now low profit margin businesses. Infact White people don't build refineries anymore, and the few ones they built in the past 10 years are all not more than 250bpd. Check out all the refineries world wide and see their profit margin despite high crude oil prices. Dangote went and built a 650bpd single train refinery knowing very well that refineries don't make any serious profits anymore, he sent the liar and scammer Godwin Emifiele to lie that the refinery has started paying its debts. Which is an outright lie and a fraudulent claim.

Once the refinery starts operating, he will Issue and IPO and people will run to go and buy the shares, that will increase his personal wealth to over $50 billion. The refinery will no longer be based on the profit or loss it brings but based on the shares that are traded. Its a ponzi, but a legitimate one because we live in a world where might is right.

Wow

OVB123:
SEC, EFCC are part of the corruption.

You can say that again. SEC charges up to 1 billion naira just for registration yet can't protect investors.

PNomsule:


Most times when these happens, investors need to rally round the executive as a show of support rather than shoving threats, mounting pressures, hounding them around and other abuses. It's the only way to bring about the recovery of their funds.

this is a one man business, it would be easy for properly established businesses to scale through such challenges.

MarketDispatch:


How much is Tomatoes , that someone will be promising 20- 36 % ROI . Sad to hear many people were defrauded.

omooohh

fortune1968:
Now that you are saying this ,what if scammers now come out with ROI of 10% and still run away ? You should teach people how to identify scammers not only base on the percentage.

/
There is no ironclad formula to identify scammers because they come in different shades, forms and format. You can only do due diligence and hope for the best. The person that puts up nice pictures online, gets paid but delivers crap is also a scammer. It is never 100% foolproof. One can only point out obvious red flags. Unless you expect me to spoonfeed you on how to safeguard your money.

/

At times I don't blame these scammers, but those that fell into their trap.

When I started my business, I remember talking to some people about borrowing me money while I pay back with 10% the following month.

Myself and wife will labour all around the market to ensure we get customers to buy our goods just to ensure everything goes fine.

After like 5 months, my investors said they can't continue with 10%, they wanted more which I know I can't afford except I want to be doing business for them to be making the gains, I just dropped everything...

These are people who think they are extremely smart, as in, perfectionist.

I would rather not do what will make my conscience to always flog me.

Even at the 10%, it was affecting my own earnings, but I believed with consistency, it will all make sense later.

They would rather fall for this kind of professional scam because it looks extremely real to them.

SEC should be among the instructions to hold liable. It is crypto currency that is real they would be fighting. The firm's that registered with them are duping people up and down yet they are silent on it.

Nigeria govt institutions, leave crypto biz alone because it's bigger than your full economy combined.

emmyN:


From what I read here, they didn't set out as a scam company, so the government keying in when they still operated in their legit ways shouldn't be faulted. The company was divested and they started offering customers bogus interest rate which they couldn't keep up with and thus resorted to perpetrating a ponzi to stay afloat.

Eskis sir.
What guy men cannot do does not exist.
All the initial investment, inviting the governor for photo op na packaging.
Truth is, the moment that claims to be in agriculture comes up with an investment plan, japa if you like yourself.

Ofunaofu:
“They were well organised. I call it organised crime

Baba, true, true, this part stood out to me too

Khyrvxjzy:


full meaning pwan pls?

Property World Africa Network - A Real Estate Company with over 40 Affiliates. They offer Real Estate Trading opportunity. It is by far the most secured investment in Nigeria currently.

[quote author=HayB100 post=123726794]Lol, people will NEVER learn, omo, anything related to online investment, I WILL NEVER EVER do it. If they are earning millions from it, all the best for them, I am always cautious

Jessyrank:
SEC should be among the instructions to hold liable. It is crypto currency that is real they would be fighting. The firm's that registered with them are duping people up and down yet they are silent on it.

Nigeria govt institutions, leave crypto biz alone because it's bigger than your full economy combined.

The same crypto that the US GOVT is making plans to start regulating like GAMBLING or another one? As in, apply the same regulation to that of gambling.

If you are not aware of what I said please do not quote me.

Anything online investment scheme asides mutual fund, u no go ever see my shadow around there. After mavrodi almost took me to outer space. I said never again.

[quote author=OVB123 post=123728683][/quote] You can never be so cautious not to fall. You think you are more cautious than those that fell?

Forget that thing.

Na person wey fight no meet dey call himself man.

Treasure17:
Nigerians and scams are inseparable.

True talk... especially from website and online reference

sukkot:
But truly I don't think these guys intention was to scam. I think they just ran out of money. I have been to their shop on admiralty way Lekki and it is beautifully situated facing the water. The product is good quality and they employ a lot of workers. Upstairs is a restaurant and downstairs a juice and muffins bar and middle floor is the supermarket. Then one day a few months ago I went in and the shelves were empty and it looked like they were packing out and running. Even the frontline workers looked confused and didn't know what was happening. I bet they do now. I asked the guy in the bread and wine section if they were closing down and even he looked befuddled and confused and didn't know what was happening

It’s a scam..

Don’t dull it bruh..

It was just well organized! Another one is coming like people said and some investors will still fall for it!

One of the reasons why people fall for scam is greediness! This is what scammers do bank on! They know Nigerians mentality! There’s no way on earth you’ll walk up to me and tell me about an investment that will be fetching me 20/30% ROI monthly and I’ll believe you! I understand economics more than that!

You that’s promising 20%, what makes you think you’ll make the 20% every month? This and many more questions I’ll be asking myself!

nedekid:

As one big time guyman those days said. Any money he makes, he keeps 30% to settle wahala that might come up.
Recently my paddy was telling me of one popular rich fellow that has lots of clubs and launched one equivalent of alomo betters, how he was invited by hehefcc and how he settled 2b.
Those guys would have settled those that they have to and hence everywhere is quite. If olapa were really after them, na to declare them wanted and they will be fished out by interpol, any airport they land, their name will trigger when they present their passport.

if this is true then I give up on the country.

ppogba:


Eskis sir.
What guy men cannot do does not exist.
All the initial investment, inviting the governor for photo op na packaging.
Truth is, the moment that claims to be in agriculture comes up with an investment plan, japa if you like yourself.

Well it's plausible. But I don't know why a fraud company would patiently run a legal front for five full years, making good profits along the way before unleashing the dragon. I still do not think they started as a scam. But human nature is unpredictable and changes quickly, so people can get greedy along the way.

Nigerians no dey hear word ,no dey invest for any business wey promise even 45% return

And itz never gonn stop.. 😔

Igbo man will never put his money into nonsense that he can never see.

But these sofistikated people from the west that claim to be the most educated will jump at anything to get rich and they end up getting poorer like Pa Ayoola.

Later when his mate in the south east puts his money into something viable and it reaps fruit for his children after he is gone, they will say it is money rituals.

Buffons who only know how to snatch ballot box.

dalaman:


Dangote refinery is in the same league with these fraudulent companies in reality. Let me explain. We are now in an enegry transition era, refineries are now low profit margin businesses. Infact White people don't build refineries anymore, and the few ones they built in the past 10 years are all not more than 250bpd. Check out all the refineries world wide and see their profit margin despite high crude oil prices. Dangote went and built a 650bpd single train refinery knowing very well that refineries don't make any serious profits anymore, he sent the liar and scammer Godwin Emifiele to lie that the refinery has started paying its debts. Which is an outright lie and a fraudulent claim.

Once the refinery starts operating, he will Issue and IPO and people will run to go and buy the shares, that will increase his personal wealth to over $50 billion. The refinery will no longer be based on the profit or loss it brings but based on the shares that are traded. Its a ponzi, but a legitimate one because we live in a world where might is right.

profit margin in refining is between 3 to 6 dollars per barrel. That means Dangote will be raking in over a million dollars per day assuming he is producing to the maximum capacity.

miqos02:
this is a one man business, it would be easy for properly established businesses to scale through such challenges.

The ultimate point is fund recovery not rhetoric.

lastmessenger:
profit margin in refining is between 3 to 6 dollars per barrel. That means Dangote will be raking in over a million dollars per day assuming he is producing to the maximum capacity.

Not true.

"Global refining margins — the gross profit for processing one barrel of crude — typically hover between $2 and $5. Sometimes they go negative. Sophisticated refineries, with greater flexibility, are able to process lower-quality crudes, or produce more high-valued products, can do better."

The gross profit NOT the net profit is 2-5 dollars per barrel. The net profit will be less than a dollar.
The net profit is the real profit not the gross profit

yahoodetector:
Igbo man will never put his money into nonsense that he can never see.

But these sofistikated people from the west that claim to be the most educated will jump at anything to get rich and they end up getting poorer like Pa Ayoola.

Later when his mate in the south east puts his money into something viable and it reaps fruit for his children after he is gone, they will say it is money rituals.

Buffons who only know how to snatch ballot box.

so Igbo pple node part of Dem right... These bragging wey una de do de tire person Sha... Did Igbos not lose money to mmm... Sometimes Ina de do like poor ppple node Igboland and na eldorado e be...

Dont mind Nigerians,truth is biitter and they abhorr it. Dangote Refiinery is close to an organised scam. He used roundtripping to build
it.My uncle a former Chairman of one of the biggest banks in Nigeria told me this 7 years back and I argued with him, Now i know better. Refineries are very low margin business now and you wonder why he poured that Billions of underhand sourced dollars into it. Imagine commissioning something not producing the products yet. We know his ultimate target is actually Arsenal FC. He wants to go really global.

dalaman:


Mumu, point out the scam there. You can't debunk anything I said about the dangote refinery being a legitimate scam. So you are going around like a headless chicken talking absolute nonsense.