In recent years, Nigerians have been victims of various ponzi schemes ranging from MMM to Loom.
Despite the widespread reach and eventual collapse of these businesses, it appears that Nigerians are losing their money to other investment schemes.
On Sunday evening, Kalu Aja, a financial planner and economic strategy consultant, requested that people share their experiences with ponzi schemes.
In response, Nigerians on Twitter began to list the names of the companies that allegedly obtained money from them using the guise of investment and disappeared.
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If you have been duped or your money stolen by an "investment" "Ponzi" scheme
Reply here.
Name the Instution.
Advertisement— Kalu Aja (@FinPlanKaluAja1) March 28, 2021
At the time of filing this report on Monday afternoon, the tweet had garnered over 8,800 interactions including comments, likes and retweets.
Here are some of the companies listed in the comments section of the tweet:
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- GetHelp
- MMM
- Ultimate Cycler
- Twinkas
- TheMap.ng
- Tonso Elites
- MBA Forex
- Megawill Integrated Global Investment Company
- B2 Consults
- Swiss Gold Market
- Wales Kingdom Capital
- Quintessential Investment Company
- Ortseam Evolution Ventures
- Clickella
- SAMFX Investment
- Micheno Ventures
- Cash Cloud
- Eseka Chukwutem Gospel Investment Company (ECG)
- Luxuriant Wealth
- Chaingroup.com
- Abadini Rice Group
- Standard Elite Investors
- Arerben Investment Limited
- DNG Investment
- Steady Profitability
- Ifecco LTD
- HB4 Universal Company
- Pennywise
- Racksterly
- Flagship Asset Managers
- Holibiz Finance Limited
- Crust.ng
- Bobosco FX
- Priority Investment Forum
- Menorah Farms
- Tellerforex
- Levitus Trade
I can't believe I gave my hard earned #200,000 to this fraud😣😣😣 pic.twitter.com/hLyekW4oC4
— Christian C.🌷 (@omorogiec) March 28, 2021
https://twitter.com/JonnieOyedeji/status/1376494109477761033
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Lost like 250k to Wilcox fabric investment and later lost #100k to penny wise investment, all within the space of 3 months. It was the grace of God that stopped me from dying, I almost died.
— Chisom Debra (@arukaakwa) March 29, 2021
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https://twitter.com/mystic_ael/status/1376469089607110657
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Tellerforex, Levitus trade and Wales kingdom capital…I thought I was going to lose my mind but we thank God😂. Gradually paying off my debts
— The Pink Hair is my Alter Ego (@ademisoye_to) March 29, 2021
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I've never lost money in ponzi.
I did MMM, I gained, i withdrew.
I did Ultimate Cycle, I gained, I withdrew.
I did twinkers, I gained, i withdrew.
Currently investing with a forex firm… I've gained, I've not withdrawn… but I'll withdraw soon.— Chuxin (@Eziketee) March 29, 2021
Yes pls, @hocornng @buyhocorn wot was meant to be 6months investment is over a year now. Dey did alot of publicity even on TV dey sounded real. #hocornpayyourinvestors. I need my money, I can't breath!😭 pic.twitter.com/rstNtkAxX8
— Aliu Meena (@prizlessjewelry) March 29, 2021
MBA forex OCT last year. Four friends gathered 4m to invest. 1m from me, 1m from @_BenStalwart and 1m each from two other people. Till now no capital, no ROI but I sha dey go cause problem for their office next month.
— Maverick (@papi_charley) March 29, 2021
MBA forex oo. I was told it was a forex company that also had a school where they teach people forex trading. I invested 4million Naira and also convinced my sister who just lost her job due to covid19 issues to put her 500k, I was paid my RIO once, but my sister never got a dime
— Domitila (@_Being0) March 29, 2021
Editor’s note: The list was curated based on investors’ accounts of their dealings with the companies.
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