It is no longer news that MMM Nigeria froze accounts of its participants, blocking them from withdrawing their funds along with accruing 30% interest, took away the Get Help and even crashed. While some participants in the alleged Ponzi scheme have said, they were not worried about the temporary ban placed on their accounts, a lot of others decided to move away from the scheme in search for a better one. With the crisis of confidence that MMM faced, a lot of new Ponzi schemes have sprung up and many have been making waves quietly. We bring you some of the most popular ones Nigerians are now involved in.
Twinkas is perhaps the most popular among the Ponzi schemes that took over from MMM, though it has been around even.while MMM was around. Because it operates like MMM and also promises one hundred percent returns to investors, it has proven to be irresistible among those who want quick returns on their money.
This scheme was set up by Hannes Jordaan, an online entrepreneur who lives in South Africa. Zar fund works by offering financial assistance to those who need it.
Members are expected to join through a referral link which is level one. Then they will make an upline payment of an amount per month to be able to receive the same amount from members under them in level one downline.
With enough collection of funds from those in level one, members are pushed to level two. Zar fund, although based on the active participation of referred members, is an easy way of making money.
GET HELP WORLDWIDE
Get Help Worldwide is another scheme that allows people to make as much as they can online. This scheme started in August 2016 and has become popular in Nigeria ever since then.
It is a mutual fund pair to pair donation; people help other people by providing direct financial help. Third parties are not encouraged in this scheme.
The help offered yields a profit of 30 percent if it is in local currency and 50 percent if it is in bitcoin. The profit is made within 30 days.
After the Mavrodi Mundial Moneybox scheme crashed, NNN Nigeria sprang up. The latter scheme is a community of ordinary people who understands the meaning of unity.
They provide assistance to people who need it; the goal of this scheme is not money. The goal is to acquire as much as you can. It is a mutual aid that offers 35 percent yield to its participants as compared to the 30 percent offered by MMM.
This scheme is owned by the participants. It is made by the people and for the people. Some freedom lovers in America came together to establish it. It is headed by an influential Yoruba man! It was tested in New York City in 2014 before it was brought down to Nigeria. It is an improved MMM system.
It is considered to be one of the top online money schemes in Nigeria. With the trending activities of other ponzi schemes, the Giver’s forum virality should not be doubted.
The giversforum.net domain was registered in October 2016. It is a community of givers who assist each other financially; there are no lenders or debtors here. People simply offer help when a member is in need.
Participants are charged to be kind and honest in their dealings. Financial help has to be given whenever a participant is in dire need of it.
The money stays in the account of participants and not in a central account which can be subjected to theft. At the moment, it is one of the top 5 schemes in Nigeria.
This is a new ponzi scheme that is trending. It was set up in such a way that charities, schools, religious organisations and clubs can benefit from it.
The traffic on this site is relatively low compared to the other schemes. Donations are made directly into the account of the members.
This scheme was set up by a US based network marketer identified as Peter Wolfing. Upon registering, members are expected to pay N12,500 to another member. Each member must confirm the payment after which the administrators will place 4 registered people under you. This people would pay N12,500 each into your account.
Members are encouraged to bring in other people if they cannot wait to be matched with people who will pay them.
This is an international charity club which has a network of donors. It is a platform that peers members with each other while expecting them to make financial donation.
Members give and receive donations here; it is an open club where anyone can join anywhere. Members do not pay to a central server here.
Schemes that use central servers are burdened with the responsibility of deciding who to give money to and at what time.