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CarolinaBaby1 · 2024-02-08T02:00:40Z

Again, the Securities and Exchange Commission (SEC) has warned Nigerians against investing in outfits that offer unreasonable returns and not registered by the commission, even as it disclosed that Nigerians lose up to N500 billion to Ponzi schemes. Ponzi scheme forms of fraud in which belief in the success of a non-existent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors.While fielding questions from the Senate Committee on Capital Market and Institutions during a courtesy visit to the Central Securities Clearing System (CSCS), the Executive Commissioner, Legal and Enforcement, SEC, Reginald Karawusa lamented that a lot of activities going on in the illegitimate market despite the commission’s efforts in addressing Ponzi scheme challenges. Source:

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Nigerians lose more than N500 billion to Ponzi schemes

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CarolinaBaby1

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Feb 13, 2024 1:52 am

(@carolinababy1)

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MMM was the pacesetter. If anyone thinks Ponzi had ended in Naija, dey play! :laughs:

Vistalog, another one is here, and many Nigerians are still falling victim

When money realizes that it is in good hands, it wants to stay and multiply in those hands 🤲💸💵💰

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Jrd

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Feb 13, 2024 4:25 am

(@jrd)

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Joined: 2027 years ago

Vistalog, another one is here, and many Nigerians are still falling victim

Never heard of that.
Vista what?

Financial Literacy is the possession of knowledge, skills and behavioral traits that help an individual make informed decisions regarding money. 💰

Posts: 171

CarolinaBaby1

Topic starter

Feb 13, 2024 12:25 pm

(@carolinababy1)

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Vistalog, another one is here, and many Nigerians are still falling victim

Never heard of that.
Vista what?

Vistalog, it's trending on Facebook 🤣🤣

When money realizes that it is in good hands, it wants to stay and multiply in those hands 🤲💸💵💰

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Ernest

Feb 15, 2024 6:33 am

(@ernest)

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Joined: 2 years ago

This is much

Posts: 248

Deon

Jun 15, 2025 7:34 pm

(@deon)

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Joined: 3 years ago

CBEX didn't made it to this stats 😂😂

An eye for an eye left thousands blind,
Remember that.........

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Nigerians lose more than N500 billion to Ponzi schemes

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