₦airaland Forum

Aburi001:
Yeah....."Ma bimi ni JAMB question..... "
Simi rocks!

femi4:
Simi sucks in live performance

DSB:
Errrm, Tiff was back in 2014. I love the song to death

Kennyodinye:
U Knw Nothing

martineverest:
she has a long way to go.... Tiwa and seyi are far ahead

Far ahead? Tiwa-yes, Seyi-I don't agree.

And catch up is allowed

mikeapollo:
Misplaced priorities and playing to the gallery!

Rocktation:
Awww....how did I miss this?
HNY to you too...I feel it's been ages...because I really do feel kind of different?

I hope you're good....

CrazyMan:
Bump

Happy new year Rocktation, mynd44, ayobase, dont8...etc. How have you all been, its really been a while?

holatimmy:
Limousine...Kai

Old man enjoying it all like this.
Aji sebi Oyo laari

BEENUEL:
very confuse right now

But baba celebrated 16th wedding Anniversary with his boo? So what's the 30th child birthday about.....maybe adopted sha

The American Society of Composers, Authors and Publishers (ASCAP) has recognized Wizkid as the writer of the world trending hit “One Dance” by Drake featuring Kyla and Wizkid himself.

Wizkid gladly shared the plaque on his instagram which was inscripted “ASCAP Congratulates WIZKID writer of ONE DANCE by Drake ft Wizkid & Kyla. #1 on HOT 100 CHART for 10 weeks”


Excited about his new feat, the Starboy teases that more should be expected from him and the ChampagnePapi; This came in last night! Big up my bro @champagnepapi for letting me work on this!! More Drake x Wizkid on the way!!

lonelydora:
So they are using our tax payers money to pay these policemen? They are doing private work.

Datevilme:
Wow, for his sake, hope the scheme lasts long enough for him to recover his money...

benuejosh:
True talk. Although it's not just Entrepreneurs alone. Even those who are not Entrepreneurs may have similar reasons.

Datevilme:
That's why its re-iterated over and over that people should use their spare money...meanwhile, check my signature...

MMM is trending here in Nigeria. Every week, I get an average of five invites across all social media platforms to join the MMM ‘movement’. In the unlikely event that you have not heard of MMM, having just emerged from a cave to miraculously run into this article, MMM is a platform which in summary claims to operate a mutual aid programme requesting participants to provide money to others and promising returns of 30% of such monies after 30 days.

It is a global platform touted as a Ponzi scheme (as it obviously is) and reported to be operated by Sergei Mavrodi, a Russian jailed in his home country in the late 1990’s when his earliest schemes ripped Russians millions of Dollars and led to multiple suicides.


https://techpoint.ng/wp-content/uploads/2016/12/Sergei_Mavrodi.jpg
Sergei Mavrodi

The Nigerian adaptation is an ingenious creation displaying an understanding of the culture, beliefs and thought processes of the typical Nigerian. Its model stands out as a lesson for all entrepreneurs looking to push their products into new markets.

Apart from these lessons however I have had the opportunity to discuss the platform with colleagues and there seems to be no debate on the status of the platform as a Ponzi Scheme as it does tick all boxes. See here for hints.

Regardless of its status as a Ponzi scheme however, I still get people telling me how it is still a useful source of quick cash before it crashes. For the following reasons, this position as pragmatic as it sounds does not quite resonate with me and, I believe, a lot of entrepreneurs out there trying to build a product.


Promise of big money consistently with little work

https://techpoint.ng/wp-content/uploads/2015/11/huell-money.gif


Entrepreneurs know that there are of course things that you can do to make money without having to work all that hard. But, it’s just not possible for everyone who joins a business to be able to make so much returns without working. Making money takes work. Entrepreneurs also know that NO business on earth can consistently provide such returns. Businesses have ups and downs simple.


The Principle of value

Real entrepreneurs understand that real wealth is generated from the creation of value and not from instantaneous windfalls resulting from concocted trade-offs. They understand the paradox of the lottery winner…money minus value does not equal wealth.


Understanding Money

Real entrepreneurs understand that money is really not valuable in itself. It is valuable because people agree to make it a medium of exchange for REAL value. Its utility lies in its use as current (hence currency) for the movement of value thereby obviating the need for barter. A system running merely on the exchange of money for profit is nothing but a SCAM. Participating in such a system like that only lends credence to the scam.


Not an investment

https://techpoint.ng/wp-content/uploads/2015/07/risky-business.jpeg


I have heard people liken the MMM system to investing in shares. The comparison is laughable. When an investor buys shares, he is taking real risks to contribute into an entity that undertakes in the creation of some sort of value.

Investing in shares takes careful thought, analysis, and assessment. He does not expect consistent returns. By buying shares, the investor expresses faith in the vision of the company and faith in the management to execute the vision. It takes knowledge to avoid serious burns. So NO, MMM is not comparable to investing in shares.


The issue of focus

Entrepreneurs are busy trying to create and perfect systems, solve problems, devise innovative answers to challenges. They are bound to look at a get rich quick scheme as a mere distraction in terms of the time and resources to be expended into chasing a venture that provides no ultimate value addition to themselves or the society.


The moral question

If you are sure that a system is a scam propped up by the resources of naïve but trusting participants being manipulated by experienced “confidence men” with an uncanny understanding of human greed and a history of taking advantage of it, would you still support it with your money?
The understanding of risk

The understanding of risk

Proponents of the scheme tout the cliché; “Nothing ventured, nothing gained” because it paints the contrarian picture of a daring risk taker. Entrepreneurs however understand the difference between gambling and enlightened risk taking. A gamble is taken without the understanding or control of the variables which determine the desired outcome.


https://techpoint.ng/wp-content/uploads/2015/12/bungee-jump.jpg


Investing involves enlightened risk taking premised on an understanding of key variables and a reasonable grasp of possible eventualities. If I commit to give my money to a scheme over which I have no control, because of returns of which I have no sight, I am not investing, I am gambling.

The times are hard. Nigerians are seeing the MMM scheme as some sort of saviour from the harsh realities of the current recession despite the obvious signs that it is not. To all those who cannot resist the temptation of quick easy cash, please proceed with extreme caution. To all those who do not participate in the scheme as a matter of principle, know that you are not alone.

Sylverly:
very insightful... I must say.

BraveDeltan:
[b][/b]But Why Does Africans Like Old Men For Leaders

Adonis3:




E sure me die say na naija Tailor do that him pikin suit











#Adonis3HasSpoken

ahamonyeka:
Her hair do has said it all.

LilTyRoNe:
Oga dont8,did he mention you

edoziebobbyyahoocom:
How can i make sense to you when you don't pay attention.

whiteprince:
thanks bro

edoziebobbyyahoocom:
Naughty boi. "dont8" i believe what u tried to achieve there was "don't hate" but as an afonja that you are you took out h & and turned ur ate to numeral. i 1da what H ever did 2 u guyz.

whiteprince:
initially we are not talking about his age,we are talking about the years on the picture

AfonjasMustDie:
Very sad

The Western part of Nigeria is not safe anymore

I will never step my foot in that region because of the type of News I've been reading lately

edoziebobbyyahoocom:
Ifeanyi Uba keeps on pulling weights......Some people from the western part of this country be wishing he's not an igbo man.
pls don't quote me & spew trash!

It was exclusively captured by Zzini Media, Nigeria Fashion TV, Nollywood TV, AlexReports, Nairaland

whiteprince:
Chai, chisos...Lawd have mercy
See olodo correcting dullardporat first I think say u get sense but now I know say na pap day inside that coconut wey day ontop ur neck..."seventy something"
Ur case is beyond my redemption,I know one man of God somewhere that can redeem ur case

teozey111:
your idiocy no get match at all.....
calculate 2017-1958=59 plus him small age.....probably 60something or 70something
go market go find brain buy.....