₦airaland Forum

UFOMZY:
What business can i do with sum of 300k to 400k, I need link and advice,business idea.

Visit the link below to avoid scams.

https://www.nairaland.com/5486596/ponzi-scam-fraud-schemes-fronting#

Ola64:
Dear Nairalanders. Urgent, sincere and mature advice is needed on how to invest two million naira, in a profitable venture(s) aside from transportation and betting. Thank you.

Mods, kindly move to front page, please.

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https://www.nairaland.com/5486596/ponzi-scam-fraud-schemes-fronting#

chiventoline:
Goodday follow Nairalanders, I am currently in a serious dilemma.
It all started last year when I applied for a UK visa paid #1m and to pay another million naira when the visa is out but by March of this year the pandemic started and knowing fully well the probability of the pandemic extending for long time I requested for a withdrawal of my visa I was told I am not going to get my full money I was paid 700k and I had 800k in savings.
My problem now is after receiving that money in march this year I currently have spent #650k from family problems and personal issues and as the pandemic has left me out of work I only feed from this money I now have this fear if things continue like this I wount have a dime by next year my house rent would expire next year February and that's a 300k problem on me.
Please follow Nairalanders how can I invest this money of 800k knowing I have no job for now and would need to feed.
Please matured advise only.

Go through the link below, to avoid falling into scam/ponzi.
https://www.nairaland.com/5486596/ponzi-scam-fraud-schemes-fronting

sainty1:
Hello nairalanders.

I am planning to start a business early next year as my capital will be ready by then. I actually wanted to use the money in relocating abroad but after consulting a couple of people and reading some articles i think it's better to stay back and build something that my generation will benefit from. The capital i am talking about here is 5million naira, i am confused on what business to venture into as i want a business that will do well all year round. I am thinking Agriculture, Supermarket or Foodstuff sales. I will appreciate your kind ideas and opinions as i am open to any idea thats really good assures financial freedom. Thank you.

Visit the link below in other to avoid scams.

https://www.nairaland.com/5486596/ponzi-scam-fraud-schemes-fronting

Hallenjay:
MBA forex is a scam de dube my bestie 100k up till now.EFCC never do anything

The level of corruption/bribery in this country, even up to the highest level of our security forces and corruption fighters is not helping matters. You can't trust them. Investors need to do their own due diligence in other to avoid being scammed. You don't know the people behind this scam/ponzi schemes, these people might be in government. One of the ponzi promoters boasted that the owners of a ponzi scheme is well connected in government. Another boasted of members of the EFCC, being investors in the scheme.

Apart from the corruption/bribery aspect of our security forces and corruption fighters, in this country , the issue of members of the EFCC investing in a ponzi scheme, a scheme that they would have investigated and made several arrest to protect the citizens from being defrauded is very worrisome. It tells a lot about them, and the need for them to really educate themselves on how to detect all this scam/ponzi schemes, by not only educating themselves on how the different angles of government works and the movement of funds in other to fight corruption in government, but also educate themselves on how several legitimate offline/online business works, in other to easily detect a scam/ponzi schemes and then investigate and effect an arrest immediately, in other to protect the citizens, not after the scam/fraud had been done. It still depends on having people of integrity in the security forces and corruption fighting organizations

My advice to any investor out there is that, if an investment company is not a government licensed and regulated one, you are taking a very big risk, because a government licensed and regulated firm is subjected to periodic monitoring by the government regulatory body, and their financial books are looked into including the movement of funds, in and out, in other to ensure that the investment company is operating the business in the line of business that he claims to deal with, and investors are not exposed to being scammed/defrauded.

There are cases where an investment company will claim to be registered with the CAC. CAC is only a business registration. When once you present yourself in the position of receiving deposits from the public, and promising them an interest on their deposits/investment, you must be a government licensed and regulated firm/company, or set up your investment company in partnership with a government licensed and regulated firm who will then be the receiver and custodian of investors funds. Without the above structure, you should get only your family members and very closed friends who know you very well to invest with you.

Some investment company that might likely be a scam/ponzi scheme too, might get a UK or any country's business registration status, which is the same as our Nigerian own CAC, and then tells you that they are licensed in UK or any country outside Nigeria, The investment is still not licensed and regulated by the government of its jurisdiction, but only getting a business registration like our own CAC, which does not subject their business/investment activities to be monitored by the government. If your invest with them, you are still exposing yourself to be defrauded. Let's be wise

emmanuelewumi:
But you are also in this business. Are you trying to say you have all the necessary approvals and certifications from government?

Who is the regulator of forex trading investments in Nigeria?

With due respect, we are not in the business of running a scam/ponzi scheme, fronting the name "forex trading", as others do. We are actually, actively trading the foreign currencies, through the forex interbank market, through a government licensed, regulated, monitored and audited forex broker.

We are using our forex trading skills to offer our fund management service through foreign government licensed, regulated, monitored and audited forex broker.

Working in partnership with a foreign government licensed, regulated, monitored and audited forex broker, who is the one licensed to receive investors deposit, secures the investors capital/investment, provided the government regulatory body permits their licensed brokers to accepts investors from your country. Securing investors funds here, does not mean that you will not lose your capital/investment. If the traders/fund manager managing your funds are not trading your funds well, and trades your funds and incur/suffer irrecoverable trading losses, you will lose part or all of your investment. At least you will still know that you were not actually scammed/defrauded by the forex fund management company.

The real issue is whether the forex traders/fund managers has a successful, stable, consistent trading strategy to be able to recover from any drawdown/drop in the investors forex investment portfolio, and continue to generate realistic returns to its investors, going forward. In these case, it is necessary for the trader/fund manager, after testing/running its trading strategy with a well calculated and adjusted risk management parameters for sometime, to know its historically, highest drawdown/drop in equity threshold that he has ever reach before and recovered from, and communicate same to the investors, so that the investors can know the trading risk that they are taking, by investing with them.

The forex broker that we are using has one unique feature in its PAMM trading/investment structure, which is the capital stop-loss/protection feature, in the investor's trader room, for investors to use in protecting a percentage of its funds from further losses, in case the trader/fund manager trades and loses the investors funds beyond the capital protection threshold that was set by the investors, which should have been set, based on the recommended threshold of the trader/fund manager.

As the trader/fund manager trades/manages and grow the investors investment portfolio, the investors can through its traders room, edit/modify its capital protection threshold to trail its investment portfolio at a certain percentage, typically the trader/fund manager's communicated capital protection threshold, and locked in its profits. If the trader/fund manager grows the investors forex portfolio, and the investor is able to trail its investment portfolio, using the fund manager's communicated capital protection threshold, and locked in 100% of its invested capital, the investors will be in a risk free investment level, going forward.

Forex trading/investment in Nigeria is not regulated by any government regulatory body in Nigeria. What we have here is forex broker's regional representatives and Introducing brokers (IB). As far as the forex brokers are being licensed and regulated by the government in their main country's jurisdiction, and the regulatory rules permits/covers investors from your country, you are safe to invest through the brokers. The risk to your funds lies with the trader/fund manager managing your funds. Your must also check the global online user reviews of the forex broker for any negative reviews about them, especially in the case of deposits and withdrawals, before using any broker, most especially from www.forexpeacearmy.com

We have heard and read of all these scam/ponzi schemes defending their scam/ponzi schemes, by using the same phrase "forex trading/investment is not regulated in Nigeria".

Nigerians are currently being scammed, they even had the gut to tell investors that they have contacted the SEC of Nigeria on the need to regulate forex trading/investment in Nigeria. Before then they actually lied and claimed to be regulated by the SEC of Nigeria, after being exposed, the choose to sing about contacting the SEC of Nigeria on the need for the forex trading/investment in Nigeria to be regulated. They know the right thing to do, if there are actually into forex trading, and are successful forex traders.

ChybuzzDD:
You're everywhere sending rubbish, and indirectly advertising your own ponzi/scamming scheme.
How come you can give 5-15% monthly and the others you're condemning cannot do it??
You're a ponzi operator condemning your colleagues to gain acceptance.

Any legitimate forex company should be trading the forex market using a government licensed, regulated, periodically monitored and audited forex broker, and such forex company should be able to show proof about this.

Any legitimate forex company should name and put the name of the government and government regulatory body regulating its preferred broker, used in offering its investment service on its website, with a link to the government regulatory body website or a direction to where the investors can verify about the broker's government licensed and regulatory status, and the investors should also verify that the website is actually the government regulatory body's website, as a scam investment company can go as far as building their own fake government regulatory body's websites, list other brokers to deceive and directs its potential investors there.

Any legitimate forex company should provide an independent/third party audited and verified trading performance track record from websites such as www.fxblue.com, www.myfxbook.com and www.fxstat.com to its investors by placing the verified track records on its website, and the investors must do their due diligence to verify the broker in the track records as a recognized broker.

Note that a trader or an investment company can partner with a broker that will doctor, through their trading server and provide to the trader/investment company a trading performance track record, which they will use to operate their scam schemes. You will see monthly trading performance track record, not knowing that it is doctored through the broker's trading server in favour of the scam investment company, without the actual trading taking place in the real market environment. If the broker used by the forex investment company is not a popular broker, and you can get in touch with the trader/investment company, request that they provide another of their independent/third party trading performance track record from another known/popular broker for you to compare the trading performance track record of both.

You can suggest and get the forex investment company to use your preferred popular broker to run a demo account, if not a live account, using their trading strategy, going forward as long as you feel comfortable, so as to compare the trading performance with their main portfolio trading performance track record, to prove that their trading performance track record is not doctored by the broker, even if it is from an independent/third party website, before investing with them.

A legitimate forex investment company that does not want to exposed the investors to being scammed should allow the investors to open their personal brokerage account and give them the log in details for them to manage the account for the suppose investors. This approach is always very complex to the forex fund managers/investment company in a situation where they are to manage multiple investors account at the same time.

In a situation where the investment company is to manage multiple investors account, which is a certainty, the preferred means of fund management is through a PAMM , LAMM and MAM system of fund management. This puts the deposit/withdrawal control, 100% in the hands of the investors, so that even if the investment company wants to close shop and run away, they can't run away with a dime of investors funds, same with the investors personal brokerage account being traded by the fund manager/investment company.

With all of the above, you should be able to differentiate between a legitimate forex investment company and scam/ponzi scheme.

All these scam/ponzi schemes are actually using the name forex to run their scams. They are using new investors funds to pay old investors in the scheme. Those payouts are not from actual trading. That they are running the schemes without running away yet, does not mean that they are legit.

Any scam/ponzi scheme always launches with a target amount of money they will run away with. The time to shutdown depends on the inflow of funds from investors into the scheme compare to the outflow of funds to payout investors.

The promoters of the scheme might meet their target amount to shutdown and run away with, but choose to increase their target amount to run away with, as they discover that more funds are still coming in, and being rolled over into the scam scheme compared to the payouts to investors.

It will definitely earn in tears, both to the new investors and those rolling over into the scheme, when a decision is made for the scheme to shutdown by the operators. We just pity the marketers of the schemes as they will be roasted by the gullible investors.

Perfectman91:
Hello Family, please help me with your candid opinion on the best investment to make with 300,000?

Visit the link below to educate yourself before falling a victim to any scam/ponzi scheme

https://www.nairaland.com/5486596/ponzi-scam-fraud-schemes-fronting