frankobaba:
I created a website where I promise to double the income of participants by 30%. The first participant joins with N20k. I need him to be convinced that my website pays So I use my own money to make up for the 30% and he goes home happy. I tell him he gets extra bonuses if he brings a friend and he does exactly that. Two of his friends sign up with N20k each and I return their investment with my own money and give my first client a special bonus for bringing them.

His friends are aware their colleague got a bonus for bringing them in. They get greedy, they bring more people. At this point, everyone wants bonuses as my system is verified and working.

More people join in, so I'm not using my money to pay them anymore, I'm using their money to pay them and waiting for more members to join so there'll always be money in the system. I see a huge investment of N1m from a greedy participant, I run the website with money and I've spent my own money to build the trust in the system so I pair the provider of N1m with myself. Then get about 30 people providing N50k to pay him back in 30 days, he has N1.3m. My system is working, he tells his colleagues in his social class and they're all excited.

My first members who started with N20k have gotten greedy, they've created multiply accounts to cash out but I don't care. The big fishes are in the game. The big monies are being paired with me, I'm no longer providing money but I'm getting money. Whenever I see a large amount to be donated, I immediately pair the account to mine. Effortlessly a millionaire.

The system continues to thrive because new members keep coming in. There is a wild recession in the country, my scheme is the escape route. People have paid rents, school fees, bought cars and funded their ceremonies with my scheme. I am suddenly an employer of labour.

But all good things must come to an end, I have successfully built a network of participants running into millions but there is a serious cash deficit. It is almost Christmas and almost everyone needs 30% of their investment back. Because I've been collecting millions as an admin without donating, and because there are not enough new members to match the financial demands of the existing members, my system has collapsed but I am not done getting my millions from gullible people.

I announce a freeze on the website for technical reasons. I've done a lot for them so they believe me that I'm just protecting the system from crash even when it was not the wise thing to believe.
I told them they couldn't receive money this period but they could still donate.

The one month freeze was an attempt to see if I could pay the existing members from the donations of new members. Sadly, some people had lost faith in the system, the new and existing members were afraid to make donations during the freeze because they were unsure of getting their 30% returns back. Plus there were a lot of evil people on social media spreading propaganda that my scheme was a Ponzi that had ended.

I needed that trust back, so I relaunched my website a day before the scheduled return. You needed to see the excitement. It was Christmas on January 13, I told existing people that had provided donations that they could now get help. I also added some attractive incentives for new members. I still faced the same problem that made me shut down temporarily, even worse.

The people that provided help during the shut down all requested help, plus there had already been a long list of people before then. So I decided to pair those that needed less than N30k first to check the rotation of money. Still there was not enough money to go round. The people that were paired to pay others refused to pay, the trust was gone. People had suddenly realised that it was not possible for 30% to be added to your money unless someone lost their own money.
Several other schemes took over my place when I was frozen. All will eventually meet their ends. Greed always comes to an end.

People still live in delusions of grandeur that I have not crashed. Perhaps they expect me to put a memo in my website that it is over. Lol. I really don't blame their naivety, I did do a lot for them to trust me.
I would advise that people make more intelligent financial decisions next time. People lost millions to me because of greed. Do I feel guilty? No. I did warn them to use their SPARE money.

My name is MMM and I am a Ponzi Scheme.

Nice breakdown. Bravo

COMPAQ:
The power isn't even in simply being the largest producer/exporter of Cocoa. It's in being able to have industries to process all that Cocoa before its exported. Food processing is where the real value add is.

Thumbs up. I posted something about that sometimes ago

https://www.nairaland.com/3514954/agriculture-alone-not-nigerias-solution

I saw this post somewhere and I thought it wise to share
"Anytime I hear Nigerian presidents, ministers, governors, economists, analysts and commentators declare that agriculture is the alternative to oil, and that the solution to Nigeria’s economic woes is to return to the farm, I am tempted to jump up and ask at full volume: “Who agriculture alone don epp?”
Some states have hilariously declared work-free days for civil servants to go to the farm. It would be nice to see those farms and how well the emergency farmers are doing. We’ve been told again and again that agriculture, as Nigeria’s biggest employer of labour, is the magic solution to unemployment, that we will export agricultural produce and earn plenty forex. Well done.
I’ve been hearing this fairy-tale all my life. When I was a primary school kid, Lt. Gen. Olusegun Obasanjo, then head of state, asked Nigerians to tighten their belts because the oil boom would not last forever. He added drama by tightening his military belt on TV. He launched Operation Feed the Nation. My grandfather responded by setting up a garden in our backyard. President Shehu Shagari did Green Revolution. The structural adjustment programme (SAP) of Gen. Ibrahim Babangida was basically about diversifying into agriculture. In different shapes, forms, sizes and packaging, we have been talking about agriculture, agriculture and agriculture forever.
Since we love glamorising our exploits in the export of cocoa, coffee, palm oil and groundnuts before the oil boom/doom, I will pick on just cocoa to dispel this ill-conceived notion and never-ending campaign that agriculture is the magic wand.
We used to be the biggest producers of cocoa in the world. Chief Obafemi Awolowo utilised cocoa revenue to develop the south-west when he was premier of the region in the 1950s. But we dropped the ball along the line and Cote d’Ivoire overtook us. And now we are lamenting that we are nowhere to be found. The solution, therefore, is for the south-west to revive the cocoa farms. Oh, the good old days!
Okay, let us talk about Cote d’Ivoire’s fabled cocoa wealth. Cote d’Ivoire produces 33% of world cocoa and exports to manufacturers such as Hershey’s, Mars Inc. (both in the US) and Nestlé (Switzerland). You know what Cote d’Ivoire earns yearly from exporting raw cocoa? A whopping $2.5bn. I repeat: a whopping $2.5bn!
So Mars buys Ivorien cocoa and makes several products from it: Bounty, M&M, Mars and Milky Way, to name a few. You know Mars’ net income from chocolate products alone in 2015?
According to the International Cocoa Organisation (ICCO), Mars made a pathetic $18bn, compared to Cote d’Ivoire’s whopping $2.5bn. Agriculture, indeed.
If you are wondering how just one company, which manufactures chocolate, can earn seven times more than a whole country, which farms and exports the cocoa input, then you are asking the same question with me: Who agriculture alone don epp?brig
On ICCO’s list of the world’s top 10 companies in net revenue from chocolate, you have three from America, two from Japan, two from Switzerland, and one each from Luxemburg/Italy, Argentina and Turkey. None from Cote d’Ivoire, Ghana and Indonesia — the world’s three biggest producers of raw cocoa. There must be something that Hershey’s, Mars and Nestlé know that we don’t know as we keep planting cocoa.
To be fair, Cote d’Ivoire is waking up. In 2015, French chocolatier Cémoi opened a plant in Abidjan, the economic capital, to produce chocolate. President Alassane Ouattara, on touring the plant, said: “We want to be able to make chocolate for Ivoriens, for Africans and especially West Africans.” Ouattara (pronounced Wa-ta-ra) understands what we still don’t understand here: that agriculture without industry is dead, being alone.
How could I buy cocoa worth $1m from you and make chocolate worth $10 million from it — and you think you are smart? If you are smart, you will start making the chocolate yourself and stop romanticising about the “good old days”.
There was a video that went viral sometime ago. CNN’s Richard Quest visited a cocoa farm in Cote d’Ivoire. Come and see poverty written all over the faces of the farmers, who have been told for decades that agriculture is the magic solution to their problems. Quest gave the farmers bars of chocolate. They were eating the sweet stuff for the first time in their lives!
Compare their lives to those of the executives of Mars Inc., who buy the cocoa beans from Cote d’Ivoire. They are flying private jets and holidaying in the moon, while the Ivorien farmers are fighting off flies and bees in the bushes of Koffikro. For your information, Mars Inc. has no cocoa farms!
Don’t get me wrong please. If I have created the impression that agriculture is useless, I do apologise. That is not my intention. After all, agriculture is our culture. Millions of Nigerians are farming rice, beans, cassava and corn. That is huge employment. Also, we certainly can produce many food items that we are importing and burning precious forex on. But is that why governors are declaring work-free days for civil servants to go and plant melon and maize to solve Nigeria’s economic problem and stop the dependency on oil? If only these governors knew that Switzerland does not grow one tree of cocoa, yet makes the world’s most elegant chocolates!
Let us break this whole agric logic into pieces. If we really want to diversify from oil and create proper value, agriculture must give birth to industry. If agriculture currently employs, say, 5 million Nigerians, agro-allied industry can employ 15 million in the value chain. So why do we spend so much time discussing farming and not industry? For example, how many graduates can a tomato farm employ compared to a factory making tomato purée? The factory will employ or engage the services of engineers, technicians, chemists, marketers, accountants, communicators, lawyers, administrators, drivers, and so on. It may even have a sick bay and employ doctors and nurses.
I’m not done. A basket of tomatoes sells for N800 in Kaduna. A 400g tin of purée sells for N300. Look at how many bottles of purée you can get from a basket, and how much value you will be getting. Who, then, is making the real money? The factory will pay company tax, its employees will pay PAYE and the consumers will pay VAT. That is how government will boost its revenue.
The purée bottle makers offer a different business altogether that employs workers and pays all kinds of taxes too. And if we are good enough, we can begin to export purée to other countries, and earn forex. This is just purée. Think of a thousand agro-allied factories. Think of our huge population.
Sure, agriculture is very important in a primitive economy like ours. But we always miss the bigger picture. One, we need full optimisation of the sector to enhance productivity. A country like the US knows this much better: the percentage of the population engaged in farming is insignificant, but it is so optimised that the output is out of this world. For instance, the US produces enough rice for local consumption, for export, for aid and to dump in the sea to “stabilise” market prices. Two, processing is where you find the massive job opportunities. The agro-industry will yield far more output, more jobs and more economic value than Benue Friday Farming.
These things look so simple and doable, but commonsense is not common. Our agricultural output can be far better in quantity and quality than currently obtains. We can do with better technology, storage, conditioning, packaging and transportation. Most importantly, our brains should focus on how industry can bring out the real value of agriculture and spark off a chain of economic activities that will create millions of good jobs and generate billions of dollars in revenue to investors, employees and government. But we seem excited only about preaching and promoting the export of raw produce, and we feel so smart we think this is the way out of our oil dependency!
But how can we add value when, despite the billions of dollars we have made from oil since 1999, we don’t have the basic infrastructure to inspire an agro-based industrial explosion? Where are the roads? Where are the rails? Where is the electricity? Where is the security? Where is the finance? Yet I can point to uncountable private jets, mansions and customised cars that politicians and their friends have acquired since 1999 with proceeds from the oil boom , while they keep preaching stone-age agriculture to Nigerians.
So if your governor joins this craze of declaring work-free days for primitive farming, just ask him politely:Your Excellency, who agriculture alone don epp?
"

Source:http://blackboxnigeria.com/who-agriculture-alone-go-epp-by-simon-kolawole/

This issue of tribe whatever, I hope it only happens on nairaland because it doesn't make sense at all.
At least I believe this is going to reduce the demand on dollars.Please let us focus our energy on the right things and not on giving a nice reply to a tribalistic comnent

dreezybines:
Can you imagine?
He gained admission 2010/2011 for a four years course and graduated 2016...
I wonder which school slow pass between LAUTECH and OAU...

it is a five years course

Chrisrare:
Nice one.. But as intelligent as u r, u shuld have studied a good course like medicine, pharmacy or engineering.

Common, is that your definition of good?
Please change your mentality.

Jacko1:
Futo best student Department of agric econs
Oau best student Dept of agric econs
Be like say this agric econs easy die

Na so!!! For your mind!!!

goingape1:
all this south wa.ste university were them dey graduate oludo with 4.89gp come dey celebrate there underground work!

come north university see if probation no go follow you to grave.

What is all this?
Must you write?

danbrowndmf:
why are those who gave birth to ous physicaly called daddy and mummy?



I really want to know.

Great reply

I believe in gender equality but I just want to ask how do you feel when you go out on a date and you both "Go dutch" (each person pays half of the expenses). I believe men are naturally made to give and women are naturally made to receive.
#No offense to anyone
#I respect your opinions

Will this car be used on Nigeria roads?
just thinking

08168209666

ehix89:
In an era of Iphone, Com'on brov you need an upgrade














#Jxt kidding , bae still appreciate the red rose

.
Smiles. Glad to hear that

[quote author=KingCheezyPuff post=47169649]❤NO ......
Wow. Good to know that they don't

BoboFashion:
Not the present Naija babes.

. Hmmm, you have a point

Habiodunz:

Nah
#They only appreciate 1) A Phone with a good front camera 2) A selfie stick 3) Unlimited data to surf Instagram

#NaTrueTalk abi na lie?

That is +++ to them absolutely

charijee:
Oh yes I do.....but it's been ages i received one

Send me a rose and you'll forever remain dear to me

Smiles. I would really love to

emotions1:
Only in Korean Films....Op

You have a point but seems like it is a general mindset in movies

Seriously, this has been on my mind for sometime.
We have been exposed to a certain "school of thought" through films across the world that ladies appreciate beautiful Flowers but does it work that way in this time and age?
Please sincere comments would be appreciated and beneficial to some people I believe.

kabman:
Jordan lukaku is absolute trash

Belgium defending is trash especially that guy@Jordan Lukaku

Lawcurrent:
I wish them more luck

They will really need it this night

adeoyetayo1:
Hater, #teamwales#

Lol. I don't hate them. But seriously, they really got lucky last match. Let us see how it goes today

Lawcurrent:
thou I didn't watch wales last match. but they are really trying. they deserve the champion of Euro

For where!!!
They got lucky in their last match.

Vermaelen is on suspension. He is not going to play

One thing I know is that argument doesn't solve the problem of whatever religion because everyone leaves with the same idea they brought into the argument. OP, why did you start this conversation?
Do you want to learn? or you just want to establish your point and nothing else counts?

Christianity is NOT a religion,it is a way of life. Until that is established, you might just not understand What it means to be a Christian.
#Shalom.

Your contributions has been wonderful.
I am currently an undergraduate studying Agricultural economics and I would like to take this exam. I just want to confirm if it is possible to write the same exam animal scientist write or I will write a different exam. Your contribution will be gladly received. Thanks in anticipation.

Vanquay:
Is this the great OAU...The Nigerian Flagship that is advertised as the biggest flagship in Nigeria?

LMFAO...They can't even get Proper Sewage and Water facilities and apparently their doctors are useless

. I smell beef

eniolaamoda:



Pls can u gv me d link of where u checked it so she can check n print it out thanks.
But what does dis mean?? Does it mean despite d fact she passed she cnt use it for addmission??

That is what you will see in any jamb result slip. So, Don't be scared

Different universities have their own system of grading and calculating grades. Just sit down, get all the course units you are going to do, then calculate it yourself.