Ponzi schemes


At least once every three months, there’s social media outburst on how one Ikechukwu Olumide and his wife, Philomena ran away with investors’ money of over NGN120 Billion. They were duped. People commit suicide, dreams are lost and life abandoned. While Mr and Mrs buy a new passport and relocate to Bermuda. But with all this will Nigerians ever stop believing Ponzi Schemes? Maybe yes or maybe no or maybe just maybe. People want money and people want money NOW! There’s no saying what people will do to get money, especially in this top-to-bottom economy. The Higher The Risk The Bigger The Returns. This is how feeding people tell tales story to get their money. It’s a win-win. If you are not ready to risk then you are not ready to earn. This is what you get when people earn their MBAs from single-page finance websites. What they don’t tell…

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