Di amount of Ponzi schemes for Nigeria now don turn anoda tin, e be like if pesin turn head like dis, anoda tin don suck millions from di pockets of kontri pipo.
Just dis weekend pipo start to hala on top di money dem say dem loose inside one digital asset trading platform wey dem dey call CBEX. Dem first suspend withdrawal for di platform bifor users find out say dia account balance dey read zero for di app.
Tori be say na ova 1.3 trillion naira ($809,000) CBEX sweep from investors accounts.
CBEX investment bin dey promise 100 percent return on investment for investors in one month and dis na why pipo bin rush am.
Di mata make one group of angry youths bin storm CBEX office for Oke Ado area of Ibadan, di Oyo State capital, to loot items afta di trading platform crash.
Dis dey come even as di SEC say in accordance wit di ISA 2025 wey President Bola Tinubu recently sign, na offence for any entity to operate online forex trading platform or provide related services witout prior registration wit di commission or as di DG of di Securities and Exchange commission, Emomotimi Agama tok am, “if e no dey registered, den e dey illegal”.
But as e be like say, several ponzi schemes just dey jump out from evriwia, na so e be really or na di perspective wey pipo get.
For 2018, Dr Jackson Tamunosaki Jack wey be from di Federal University for Otuoke from di Department for Sociology and Anthropology and Dr Christopher Chimaobi Ibekwe from di Nnamdi Akiwe University Department of Sociology/Anthropology do research wey conclude say “di volume and level of Ponzi schemes for Nigeria and im acceptance na bicos of economic recession for Nigeria.”
So e fit be say no be just imagination, as di study go on to claim say di level of Pponzi schemes start to plenti afta di economic recession of 2016, so make we torchlight some of di biggest Ponzi schemes wey di kontri don see.
Mavrodi Mondial Moneybox (MMM)
Mavrodi Mondial Moneybox aka MMM popular for di two years wey e bin dey Nigeria sotay e almost bicom synonymous wit Ponzi schemes for di kontri.
Di scheme wey don dey Russia since di 80s enta Nigeria for November 2016. Di Nigeria Electronic Fraud Forum record say kontri pipo lose about 12bn naira ($7million).
Dis ponzi style investment promise profit of between 25 per cent to 75 per cent to investors per month and e bin popular well well for Africa.
Dem announce di closure of di scheme for 6 April 2018 say na bicos of di death of dia godfather Sergie Marvodi wey start am.
XIMA FX
XIMA fx bin advertise demselves as foreign exchange service wit return on investment of 15% for 2020.
Until around April of di same year wey dem reduce am to 10%.
Dem neva post anytin of dia intensive training on foreign exchange since 2020 and dia website currently dey unreachable
MBA forex
Di Economic and Financial Crimes Commission [EFCC] bin announce say Maxwell Chizi Odum wey be MBA forex CEO dey wanted for alleged $518.3m fraud.
MBA Forex dey registered wit Corporate Affairs Commission and di Special Control Unit Against Money Laundering and dem bin don dey operate for four years bifor dem close down for December, 2020.
Di Securities and Exchange Commission SEC Nigeria also clarify say MBA Forex no ever dey registered wit dem.
Head of Investigation and Enforcement of di Security and Exchange Commission, Port Harcourt Branch, Enebeli Sussy Sulukwe for May 2021 explain say;
MBA Forex bin try to register wit dem but dem fail to meet dia registration requirements.
And dem dey among di market operators wey SEC list for dia website as one of those wey dey operate illegally. Sulukwe tok
For 11 March, 2025, di EFCC release list of 58 illegal ponzi scheme operators for di kontri.
Dem include:
.Wales Kingdom Capital
.Bethseida Group of Companies,
.AQM Capital Limited,
.Multibusiness Investment Limited,
.Brickwall Global Investment Limited,
.Farmforte Limited & Agro Partnership Tech,
.Green Eagles Agricbusiness Solution Limited,
.Richfield Multiconcepts Limited,
.Forte Asset Management Limited, (Biss Networks Nigeria Limited, S Mobile
.Netzone Limited, Pristine Mobile Network),
.Letsfarm Integrated Services,
.Bara Finance & Investment Limited,
.Vicampro Farms Limited,
.Brooks Network Limited,
.Gas Station Supply Services Limited,
.Brass & Books Limited, (Annexation Biz Concept & Maitanbuwal Global
.Venturescrowdyvest Limited,) and
.Crowdyvest Limited,
.Jadek Agro Connect Limited,
.Adeeva Capital Limited,
.Oxford International Group and Oxford Gold Integrated,
.Skapomah Global Limited,
.MBA Trading & Capital Investment Limited,
.TRJ Company Limited,
.Farm4Me Agriculture Limited,
.Quintessential Investment Company,
.Adeprinz Global Enterprises,
.Rockstar Establishment Limited,
.SU.Global Investment,
.Citi Trust Funding PLC,
.Farm Buddy,
.Eatrich 369 Farms & Food,
.Globertrot Farmsponsors Nigeria Limited,
.Farm Sponsors Limited,
.Cititrust Credit Limited,
.Farmfunded Agroservices Limited,
.Adamakin Investment & Works Limited,
.Cititrust Holding PLC,
.Green Eagles Agribusiness Solutions Limited,
.Chinmark Homes & Shelters Limited,
.Emerald Farms & Consultant Limited,
.Ovaioza Farm Produce Storage Limited,
.Farm 360 & Agriculture Company,
Requid Technologies Limited,
West Agro Agriculture & Food Processing Limited,
.NISL Ventures Limited & Estate of Laolu Martins,
.XY Connect Investment Limited,
.River Branch Unique Investment Limited,
.Hallmark Capital Limited,
.CJC Markets Limited,
.Crowd One Investment,
.Farmkart Foods Limited,
.KD Likemind Stakeholders Limited,
.Holibiz Finance Limited,
Ifeanyi Okpe Oil & Gas Services,
.Servapps Nigeria Limited,
.Barrick Gold Mining Company and
.360 Agric Partners Limited.