Tag: ponzi
Get Rich Quick Syndrome: When Will Nigerians Learn and Flee From Scamming Schemes?
Ponzi schemes, fraudulent investment scams promising high returns with little risk, have plagued Nigeria for decades, exploiting economic vulnerabilities and the allure of quick wealth. From the infamous Mavrodi Mondial Moneybox (MMM) in the mid-2010s to the recent CBEX controversy, these schemes have left a trail of financial ruin, eroded trust, and exposed regulatory gaps….