The Deceit of Ponzi in Nigeria: SAY NO TO PONZI

In recent times Nigeria has been bewildered by many schemes promising to erradicate poverty. They promise great returns. For many wanting to get rich quick, this was a breakthrough for them. Some joined because of ignorance. The question is do this schemes fulfill their promise? Do they indeed erradicate poverty??

Studying the Nigerian society, the population can be separated into 3: the rich, the surviving(middle class) and the poor. In terms of assess to information and technology, the rich rank first, then the surviving and the poor come behind. Since most ponzi schemes are online and require quite a big capital to invest, therefore the rich would be early adopters, followed by the surviving class. In Nigeria, most rich people ain't risk takers so few rich end up in ponzi. This limit the majority of early adopter to the surviving class. After months of getting returns from these schemes, the poor class is initiated to sustain the scheme. On collapse of most ponzi schemes, it is discovered most people that end up loosing more are these late adopters--the poor.

Judging from the above, ponzi in Nigeria is never a way to elevate the poor. Rather, it gets from the poor and transfer to the surviving class (middle class). The implication is the gap between the rich and the poor gets wider.

SAY NO TO PONZI!!!!!!!!!!!!!!!!!!!!!!!!