Tag Archives: Ponzi schemes

Ponzi Schemes: Experts identify reasons why Nigerians easily fall victims

Economic stakeholders have explained the reasons why Nigerians easily fall victims of Ponzi schemes. According to the experts, i poverty, greed and lack of financial education have been identified as the major reasons. The stakeholders express concern at the alarming rate in which Nigerians are losing billions to criminals masquerading as investment portfolio managers. It will be recalled in 2016, ...

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3 million Nigerians lost N18bn to Ponzi schemes- SEC DG

The Securities and Exchange Commission (SEC) says that 3 million Nigerians have lost about N18 billion to Ponzi schemes . It described the activities of Ponzi schemes as threat to investors, the functioning of a fair and orderly financial market as well as the development of the economy at large. It assured the public that it will continue to apply ...

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