₦airaland Forum

LordLicifer:
Yes, you are right they can and they could lose their money too especially in buying stocks, just like people who invested in NRC lost now. It's business! Not that they have "emrgency money problem" like you suggested earlier.

You are arguing against yourself you are agreeing with everything i have said.

I'm speaking up for myself, because I was in a similar problem except mine is I was not in possession of any cash. The money I have were invested until the end of the month, I never anticipated my screen would get spoilt any time soon. So yes, I had to double the money, just like every one else, the problem with those other person is they chose the wrong platform for their problems.

Beautifulday:
Nigerian government is filled with uneducated I don't care challants.

It's impossible to pull a pony scheme in this generation without being caught except government is involved or the government of that nation is ran by illiterates and non challant corrupt criminals.

Stop talking nonsense and spewing trash! In a democracy, no one can stop you from spending your money wherever, whenever and however you want but you may go to jail if the outcome is against the law. Not only that, most of this ponzi schemes are operated on telegram app. Do you want the government to be checking the internet for frauds when they have told you times without number to report such schemes to the CBN?

Hungrychicken:
I'm speaking up for myself, because I was in a similar problem except mine is I was not in possession of any cash. The money I have were invested until the end of the month, I never anticipated my screen would get spoilt any time soon. So yes, I had to double the money, just like every one else, the problem with those other person is they chose the wrong platform for their problems.

Correct! You are absolutely right and i agree with your idea, but these people probarbly didn't know that the platform they chose wans't right. So they get scammed.

Lanretoye:
pls don’t let research be a problem for you as a youth okay,now do a simple research and delete this your ignorant write up.
More disturbing is that people like you believe that poverty is what cause people to fall for ponzi as if there are no poor people in most part of the world too.
Poverty doesn’t make you fall for ponzi,greediness does

I am not talking about poverty here.
Even though it still contribute to an extent.

I am talking about 'igborant'

I am referring to this present government
I mean Nigeria government generally from the past, present and maybe the future

Which account do the people pay money into?
Is iaccount not own by the citizen of this country? Or is the account not trace able.

As I said people that sign up on this ponzi scheme do not even know what is the meaning of 'ponzi' and how it works.

No matter how government sensitized people about Ponzi schemes many will still fall victim because some feel it another avenue of making money.

Are u telling me that there is no genuine platform that is not Ponzi on the internet?

There are three class of people that join such platforms.

the ignorant ( they don't even know how the whole thing works, most of them are first timer)
Those that knows that it is ponzi site but choose to play smart( early cash out ) and lastly

The greedy ones

The second set are those that lure the ignorant and the greedy ones into the scheme.


I want to ask you why do we not always have Ponzi scheme sites in develop countries?

Thank God I didn't even hear about it because how I take need money now I for say make I try

LordLicifer:
Correct! You are absolutely right and i agree with your idea, but these people probarbly didn't know that the platform they chose wans't right. So they get scammed.

Absolutely, nobody would want to get scammed if they knew about it already

This ponzy NRC have run away with my 200k wallahi...

No such thing as easy money

How do people even get to hear about these kind of scams but don't know anything about GMOs?

The reason Ponzi scheme work in less developed countries is that many people there are religious and believe in fantasy.

If you can believe in religion then it is easy to deceive you.

AMI3:
I am not talking poverty here. I am talking about 'igborant'

I am talking about this present government I mean Nigeria government generally past, present and future.

Which account do the people pay money into?
Is it not own by the citizens of this country? Or the account is it not trace able.

As I said people that sign up on this ponzi scheme do not even know what is the meaning of 'ponzi' and how it works.

No matter how government sensitized people about Ponzi schemes many will still fall victim.

Are u telling me there is no genuine platform that is not Ponzi on the internet?

There three class of people that join such platforms.
the ignorant ( they don't even know the whole thing works most of them are first timer)
Those that knows that it is ponzi site but choose to play smart( early cash out ) and
The greedy ones

The second set are those that lure the ignorant and the greedy ones into the scheme.


I want to ask why do we not always have Ponzi scheme site in develop countries?

LordLicifer:
Govament cannot do a bloody thing! Mate!

There are always warning signs about these kinda schemes it is up to the punters to make decision where Or how they put their monies. govament cannot tell people where or how to invest their monies also.

Whose account is this money paid into?
Are u telling me that the account can't be traced?

Why is Ponzi scheme not there in developed countries?

AMI3:
I am not talking poverty here. I am talking about 'igborant'

I am talking about this present government I mean Nigeria government generally past, present and future.

Which account do the people pay money into?
Is it not own by the citizens of this country? Or the account is it not trace able.

As I said people that sign up on this ponzi scheme do not even know what is the meaning of 'ponzi' and how it works.

No matter how government sensitized people about Ponzi schemes many will still fall victim.

Are u telling me there is no genuine platform that is not Ponzi on the internet?

There three class of people that join such platforms.
the ignorant ( they don't even know the whole thing works most of them are first timer)
Those that knows that it is ponzi site but choose to play smart( early cash out ) and
The greedy ones

The second set are those that lure the ignorant and the greedy ones into the scheme.


I want to ask why do we not always have Ponzi scheme site in develop countries?

there are Ponzi schemes in America,even in china.some of these sites are not even on Nigerian Ip,some of them are operating from abroad.people knows that these schemes doesn’t last for long,all they think is to take advantage of the window and that’s why many get trapped.
Ponzi schemes has been exiting before we were born,in Yoruba we call it s’ogun d’ogoji…it is not ignorance that made people fall for it,it is 90% greed so there is nothing government can do to stop you from being greedy.some of these schemes operate with terms and conditions that you don’t even care about before puting your money,some of them trade with the funds and pay you from profits but then the suffer loss the people who invested will bear it.

Dem no dey tell blind man say rain dey fall.

AMI3:
Whose account is this money paid into?
Are u telling me that the account can't be traced?

Why is Ponzi scheme not there in developed countries?

The accounts cannot be shut or interfered with, it would be seen as a legitimate account until it isn't. The accounts might be traced but how far can it be traced? Apparently the NRC is an American company. Well.. good luck tracing it to America.


It used to be until people became aware because there were warnings that doesn't mean people are not scammed still in developed countries. Besides, NRC would argue that they are not Ponzy schemers nor they are scammers.

Misterone:
Stop talking nonsense and spewing trash! In a democracy, no one can stop you from spending your money wherever, whenever and however you want but you may go to jail if the outcome is against the law. Not only that, most of this ponzi schemes are operated on telegram app. Do you want the government to be checking the internet for frauds when they have told you times without number to report such schemes to the CBN?

Don't mind them, they are blaming govament for making bad business decision with their own money and with their own hands. Imagine if govament tried to stop them from investing in NRC.

Omenapounds:
Which one be Noble Mary again na🤣

This one is popular among those in Lagos especially those in mainland

God1000:
Who are the people behind this please, we can't continue to keep quiet, does it mean the government didn't know about their activities all this time

Even in saner climates Ponzi scheme happens . The time pay save themselves from these Ponzi brainwashing the better for themselves.

If you like be there and waiting for government to do everything for you then you'll suffer and cry .

At times push blames to people not government in such cases .

Many were warned but they didn't listen .

So it is ponzi? I have seen many Tiktok posts where SAHMs claim it is NRC they have been using to survive. I thought it is freelance or an online survey work because they never answered when asked what is NRC.

Nigerians would hide update until it casts.

No wonder someone said if something is truly beneficial, people would never point you to it.

Beautifulday:
Greed and lack of contentment is the sole reason government was form in the first place.

Before government, the strong always that anything from anyone. Government stopped that.

If government can't stop scammers and killers it has failed.

Government can't 100% curb all these vices,they can only ensure it is reduced to the barest minimum.And since govt can 100% stop operation of scammers ,it is up to the people to know how to safeguard their funds by investing in legit business or roll it back to their business capital but greedy people won't hear word,they will rather invest in schemes that promises them outrageous returns that is not always sustainable.

Stocks and money market funds are real investments that invest in companies that do real things like food, drinks, cement, refineries, transportation, hotels, etc.

Real things that people will always use and they can raise prices each year.

Crypto and ponzi and Betting are waste of money and not real investments.

Real investments are for people who take the long term view of years and decades.

Hungrychicken:
But, people invest in crypto, stocks and other assets are not greedy for wanting to double their wealth?

Borrowing from loan sharks is another quick sand people dont talk about. These apps are more risky than they look. They give you outrageous interest that you cannot pay, while still adding more interest for each day you default

God1000:
Who are the people behind this please, we can't continue to keep quiet, does it mean the government didn't know about their activities all this time

But they are registered and CAC and have scuml cerfitifcate, they re supposed to be legit.

Chydon888:
Good morning Boss. Please, this Stanbic IBTC asset management, how does it work, and how can one go about it??

Morning Chief, follow this thread and ask questions
https://www.nairaland.com/1912965/mutual-funds

Greed remains the greatest cause of this
You tell someone to invest in a property that will pay him in 2 years, he talks down on you.
I have seen a lot in trying to sell real estate to people
Nevertheless, smart people know where to put their money
Real estate is one industry that is failure-proof and can never crash
To those who lost their earnings in NRC, I wish them safe recovery

nwirinedu:
But they are registered and CAC and have scuml cerfitifcate, they re supposed to be legit.

Once SEC has not approved, likely scam📌💯🙌

I remember back in the day when commercial banks used to set Ponzi schemes. For all I know, they probably still are under random names. I can’t pity anyone who fell for this. One would think Nigerians wisened after MMM. Such is not the case. Fools will always part with their money. All one needs is the right persuasion.

That tells you something deep about an average Nigerian. Yet, they are still blaming government despite several warnings

Amovingman:
The owner of that website is on programming section you supposed to ban him from your forum people's see website like that still invest their money there

To make money in Nigeria is very easy

Whats is moniker

Hungrychicken:
Do you know so called “greedy” people may have some emergency money problems that could have made them trust these sites?

not just emergency those guys went as far as advertising their scheme on national TV, yet some fortunate ones here term people to be greedy.

October1960:
Stocks and money market funds are real investments that invest in companies that do real things like food, drinks, cement, refineries, transportation, hotels, etc.

Real things that people will always use and they can raise prices each year.

Crypto and ponzi and Betting are waste of money and not real investments.

Real investments are for people who take the long term view of years and decades.

I disagree with your view on investments, as there are short term investments even in the money market.
You view investment as a tangible asset, but it can come in other forms not necessarily Ponzi or betting.
Even money as a currency is backed by intrinsic values, removing those values it's just cottons and plastic, depending on the currency material. Gold has more real life value. But, we stick to money currency still

SEGLIZ:
not just emergency those guys went as far as advertising their scheme on national TV, yet some fortunate ones here term people to be greedy.

Yeah, If they knew it was a false scheme, nobody would be putting their money there

God1000:
Who are the people behind this please, we can't continue to keep quiet, does it mean the government didn't know about their activities all this time

What does the government have to do with Nigeria's personal greed? Personal responsibility is required. How many Ponzi schemes will be used to defraud stupid Nigerians?

Nigerians are always looking for get-rich schemes, and then they complain when they lose everything.

Give them another one tomorrow, call it MMM, they will still do it. Do they learn to be wiser?