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Now That All The Ponzi Schemes Have Failed, What Next?

I am sure by now all Nigerians should have known what Ponzi scheme means. lol. As funny as it may sound, I decided to put together this article for us to actually STOP and think, I sincerely think it is high-time we told ourselves the truth we have refused to either tell or head to. Now let’s look at what a Ponzi scheme is. 

According to Wikipedia, A Ponzi scheme is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned through legitimate sources. Operators of Ponzi schemes usually entice new investors by offering higher returns than other investments, in the form of short-term returns that are either abnormally high or unusually consistent. The scheme is named after Charles Ponzi, who became notorious for using the technique in 1920.

Example of common Ponzi schemes includes;

Ultimate Cycler
Cyber Wave

Now back to my question,
Now That All The Ponzi’s Have Failed Us What Next? 

MMM Nigeria probably the most successful ponzi scheme ever existed in Nigeria became very popular in 2015/2016 and then many of us went to our bank, crashed our fixed deposits, withdrew our money to minimum balance just to 'invest' in MMM.

Several attempts by CBN, SEC, Bloggers, Journalists, TV/Radio stations proved abortive, some people registered into the guider's school, graduated and became guiders; 1k, 2k, 10k, 100k and even 1m Guider. They started massive guiding and campaigns (both Online & Offline). They encouraged us to give more sorry to PH more and the more we PH the more commission they make, the more they GH millions of Naira without a single PH. Yes this continued for some months and because we could still get our 30% and referral bonus, we did not pay attention to the fact that our Guiders were not guiding us but their pocket. Please don't get me wrong I am not blaming them for the travails being experienced by MMM participants rather I blame our common greed which pushed us to believe that we can actually reap from where we did not sow. As my friend will say "it is only Ponzi scheme that has been able to scam but the scammers and the scamees". lol. Before I forget, MMM was founded by Sir Sergey Mavrodi & co in Russia where he was eventually jailed for several years for tax evasion and some other financial offenses (Check Google).

And so the story continues, in November 2016 MMM Nigeria introduced seasonal bonus with claim of 50% Mavro instead of the  
conventional 30% we were used to. Wow! our ears raised up, our spirit became very high and we started calculating our gains  
instead of what likely can be our losses (who wouldn't huh?) and so we started PHing in large amounts just so we could GH enough money to flex the Christmas and New Year but Alas before those Mavros could mature, a bombshell struck and MMM Nigeria announced the freezing of our Mavros, why? They told us it was necessary to ensure sustainability. We became disappointed but still optimistic that our money would not get lost by the way that was the assurance. Media houses became empowered, CBN became right, SEC decided to remind us of their initial warnings but what happened? Sir Sergey came out to also remind us that the fight is against the media and the financial injustice against the people.

Did I forget something? Yes so many things happened within a very short time, I should not forget to tell you that majority of the promoters actually rated MMM better than Nigerian banks; who wouldn't think so? 30% ROI monthly as against 3% from banks? They actually claimed MMM was a big threat to banks, they saw bankers as enemies of progress who didn't want them to buy that latest car and build a good house. To cut the long story short, the waiting time came to an end and our hope was reawakened in fact MMM actually started before the expected date but alas! there was a twist; the twist was that we were told we wouldn't be able to get our money because programmers were working so we needed to PH more to at least get part of our 2016 Mavro and so the drama is still inconclusive even as some guiders now advise us to forget about 2016 Mavro and start afresh with 2017 Mavro.

Get Help Worldwide

When the MMM drama was on, some persons lost faith and decided to try other platforms, most prominent were Twinkas and GetHelpWorldwide (GHW) and the story has always been the same. Just recently, GHW informed participants of so many issues with their old platform issues such as multiple accounts, fake POP, etc. hence there was need to move to a new platform which they called GHWX - GetHelpWorldwide Xclusive. Eventually the date came and they move and advised us to migrate our old accounts to the new platform which we did and were very happy since money was not lost yet. After migration, updates started rolling in daily by the way they now have a forum where they interact directly with participants (I think this makes sense too). Back to the story, one of the updates is that we have to PH to get part of the outstanding GH, Again? Haba!!! And at that point, 'I weak' according to Warri. I can go on and on but I am sure you even know the story more than me, we are not 

talking about the ones that last only 24hrs in fact some didn't actually last up to that. Before I drop my pen, I need to inform you that is if you don't already know that ‘Naija boys’ now sell Ponzi scripts for a few thousands of Naira and thousands of Ponzi websites are launched on daily basis, some are sent via unsolicited emails and BULK SMS messages (I see some through my BULK SMS website - www.bulksmsplus.com). The story continues..... And our monies still hanging. Now the question again is now they have all failed us, WHAT NEXT? Tell us using the comment box.

My 1Cent:

  • Ponzi Scheme is not a legitimate business and so likely to crash sooner or later
  • Any time some people are happy, more people are crying somewhere
  • Money paid as Return On Investment (ROI) by Ponzi's are people's funds being circulated and when GH becomes more than PH, the system becomes suffocated and crashing becomes imminent.
  • Run from Ponzi's, there's no free lunch anywhere even in Freetown.
  • Any good business needs time and strategies to succeed.

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