Tag Archives: Ponzi scheme

We will eradicate Ponzi schemes in Nigeria- SEC vows

The Federal Government has vowed to collaborate with relevant government agencies and stakeholders to curb the activities of ponzi schemes in the country. The statement was made by the  Securities and Exchange Commission (SEC) on Thursday during  an Investor Education Programme for staff of the Federal Road Safety Corps which held in Abuja, recently. Speaking during the programme, the Executive ...

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Experts explain why Nigerians continue to patronize Ponzi Schemes

The activities of Ponzi Scheme operators have been on the increase in Nigeria, especially in the last decade. Nigerians will not forget in a hurry, Mavrodi Mundial Movement (MMM) which is perhaps the most popular Ponzi scheme ever introduced into Nigeria. When the scheme finally crashed in 2016-2017, the CBN revealed that N12 billion was lost by investors. Since MMM, ...

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