₦airaland Forum

emmanuelewumi:
Red flag, enjoy the party while it lasts

@ 8% per annum I won’t call it a party. It is somewhat conservative in comparison to other fintech / agrictech firms that range from 20% to as high as 60% per annum (this is what you call a party).

This said company has existed for over 5 years and basically just operates as a modern day digital wallet to encourage savings.

Over 95 Billion Naira was paid out in 2020

I am not holding brief for (Piggy-vest) but we must remember that:

1. They own a Microfinance bank license (cbn regulated)
2. All funds are warehoused with a fund manager (sec regulated)
3. When people break there savings, it attracts a 2.5% charge. ( not to be mistaken with flex)
4. They serve as middle men to some agrictech companies. Easily make huge commissions ( as high as 40% of the profit )
5. Briefly traded crypto ( buying and selling attracted charges
6. They trade currencies - you buy dollar at 490 to save and they sell back to you at 480
7. And I guess they go into various businesses or commercial agreements with different firms.

All of this is not to convince anyone nor financial advice, just my 2cents on how i view the company.

Interesting scenario playing out in the short run. Exchanges are currently trading at N435~$1 against N485~$1. Price of Bee-t-see going up but not reflective in terms of Naira.

The price of bee-t-see at over 40k is below the naira value when it was around 38k yesterday.

The smart investors gamed the mba system. They have “cashed out” more than what they put in and are on green. They have coasted home. It’s just for them to clean mouth and on to the next one.

The biggest “potential” losers (since Maxwell is still giving them false hope) are those who will have more money in mba forex than what they have taken out from the system when reality downs on them that the system has collapsed.

My sympathy goes to those who did the plan that only pays 50% ROI in 3months interval (most people started off in September), it was a well calculated strategy by Maxwell as he knew from the inception of the new plans that he wasn’t going to pay those category of investors a dime.

dennison4luv:
I am telling you guys this because I am a forex trader and I know what is going on, so calm down and exercise some patient MBA will bounce back for good. They are not Ponzi scheme. I do advice people to trade on there own because it pays you more to trade on ur own but the only advantage is that if you burn your account you don't have who to hold responsible

So if for example MBA traded forex and burnt the account, where will funds to trade and make up for ROI’s and capital repayment come from?

tunnex190:
Please how long does it take now to get verified? Its almost 2 weeks now that I have uploaded my documents for online migration and it's still pending. Meanwhile new ROI date is 27th and now the money has reflected on my account but it's useless since I couldn't do shi.t when the account is still pending. Just audio money is all.

Don’t stress, your case is no different from people with verified accounts. What you’re seeing in that wallet is just a preprogrammed command to input/show figures at a set date and time.
The wallet balance is same as you typing N10,000,000.00 on your nairaland profile and waiting for the money to hit your account.

Until people start seeing actual money in their bank accounts and not wallets, Funds in mba remain an illusion.

Merry Christmas.

MBA Cares.

This is how Maxwell showed up to investors for Christmas.

The special Christmas promise.

Premium tears

As we look into closing year 2020, what investment decisions did you take and what has been your average returns on investment.

As for me 2 threads in this section shaped my investments for 2020;

1. T bills thread (insightful comments on the economy and brilliant minds)
2. Agric-tech thread ( tracking farms i invested in and following up on other peoples reviews)

On average, i have made between 30-40% ROI for 2020. The last quarter of the year has put me on a low-risk zone.

Capital preservation is currently my priority. In the interim my funds are domiciled with a fintech giving 8% per annum.

So how about you? What shaped your 2020 investments and what are your projections for 2021.

airsaylongcom:
No. You will upload them yourselves.

Good morning, quick question please.

How would the harmonisation work for an investor who has 2 running plans?

- i.e One rollover based on the old investment plan (6months) and a fresh investment on the one year plan. Please note that when a top up was requested, a new plan was processed instead. Thus 2 different bank accounts but same name.

The smart investors have gamed the mba system. They have “cashed out” more than what they put in and are on green so nothing you say or tell them matters.

The biggest “potential” losers (since the system is still paying) are those who will have more money in mba forex than what they have taken out from the system when a collapse happens.

For now, no matter the advice you offer or what you tell them, they will only think you’re a hater or envious of mba forex. The written violence going on on their thread will make you wonder.

Sometimes it’s better to just observe and let things happen.

ahiboilandgas:
When will Nigerians learn that this is a pyramid schemes that will collapse and new investment that is used to pay old investor untill it collapses.....Nigerians lost 30bn in MMM and other unknown schemes ...there no free money any where .....even dangote with is big factory is doing 27 percent per anum.....then some one will tell u he will give u 170 percent per anum .....

Blame the free/idle money circulating around the economy.

A lot of financially educated people are aware it may be a pyramid/Ponzi scheme but go ahead to take a calculated risk to invest.

Eg. An investment of 1million in 6months will give the same yield of an investment of 10million for a year ( approximately). Risking 1million naira to give the same returns 10million naira will give you even in a shorter period is a risk a lot of people don’t mind taking.