Investment Review: Online Ponzi Scheme in Nigeria

A friend sent me an invite to this “money-making opportunity” on WhatsApp, it sounded kinda interesting that I decided to look into it and write a review for others who might have received a similar message. is a Nigerian website where participants are promised daily returns, with all they have to do is just to pay a registration fee of N1500 and N5000. Obviously, the more money you registered with, the higher you earn from the daily cash “mining” going on on the platform.

This is a Ponzi scheme, those who register early enough might be able to cash out while others coming, later on, will ultimately lose out. But most people already know this, the friend who sent me the link to the platform advised me as much, register and cash out quickly before it crashes was the caveat that came with the link.

One might wonder, why would anyone be willing to gamble on an “investment” they know it’s only a matter of time before it crashes and everyone loses their money? Perhaps it’s just greed, people that want wealth without work. Or perhaps it’s due to the poor state of the country’s economy, there aren’t that many legitimate investments and money-making opportunities in Nigeria.

Don’t judge a book by it’s cover

The website of is very clean and well designed, it looks like a website someone running a legitimate business would design. Except it isn’t, platforms that don’t have a clearly spelt out way of making money are mostly Ponzis, this website simply tells its “investors” that they are making money from daily “mining”. Mining of what exactly? don’t ask too many questions, just pay your registration fee and hope that your friends will also pay without asking questions. The perfect definition of the grater fool theory.


A writer! Columnist and an academic researcher
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