No doubt recession continue to grip on Nigerian economy, and several international Ponzi schemes continues to see Nigeria as the next targeted market.
The world oldest cash lifting and Russian Ponzi scheme MMM, continues to be the talk of the town as millions of Nigerians has registered for the Ponzi scheme within short period of time in Nigeria. Despite the dark history of the Ponzi scheme in Zimbabwe, South-Africa and Russia, Nigerians continue to invest money upon money on these scheme.
However, CBN, EFCC and House of Reps, has warned Nigerians not to invests into the MMM’s Ponzi scheme but these words have fallen on deaf ears among Nigerians. In order to show the legality of the scheme, MMM has gone on social corporate responsibility drives by donating items to IDP camps.
With the continues success and testimony among Nigerians, others Ponzi schemes has gradually seeing Nigeria as the next market to open shop.
With success of MMM Nigeria, others Ponzi scheme such as Ultimate Cycler is out. This news Ponzi schemes promises better returns of money than MMM Nigeria.
The hook for Ultimate Cycler is this; sign up by and paying N12,500 to a fellow member you registered under. When your donation has been confirmed, the Ultimate Cycler admin puts four people under you who will pay N12,500 you resulting in N50,000. In summary, pay N12,500 and get N50,000.
When you have four people under you, Ultimate Cycler bumps you up to the second level. In this stage, you will pay N25,000 from your N50,000 largess to a grade 2 member. After this, the system will put 16 people under you who will pay you N25,000. At this stage, your grand total will be N400,000.
This scheme has really help many Nigerians in this recession and hard time. Another Ponzi scheme that is trending right now is iCharity. Unlike, other schemes that are peer to server-based, iCharity is peer-to-peer. What this means is that instead of paying money into a system that now determines who your money goes to, you pay directly to members in need of money.
As Nigerians continue to invest their money on all these Ponzi schemes, and with the dark history of Ponzi scheme, it for sure this scheme will only last a while before the bubble bursts.
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