Nigerians lose more than N500 billion to Ponzi schemes
(552 reads) See also ► What current or recent Ponzi Schemes do you know? ► MTN, Airtel Lose N479bn To Currency Revaluation
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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 lo…
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