DISCUSSION: Why Do People Still Do Ponzi?

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Networking, ponzi schemes. Over the years, people, Nigerians have fallen for ponzi schemes and fraudsters, like MMM, ultimate cycle, and so on.Ponzi has been running for a long while now, MMM wasn’t the first wave of ponzi to sweep through and its not going to be the last.

When people that advocate and advertise these ponzi talk to you eh, their mouth dey sweet like sugar, them go tell you how you go use 100 naira to get one million in one month, trying to rope and lure you in with promise of more money than you can ever know what to do with.

The question is “why do individuals still succumb to these schemes even when they should have learnt their lessons?”
Some people wey dey join all this ponzi get many reasons o. That’s why each new one that comes up, they join and fall for it. You sef suppose know say this ponzi dey pay some people o.

No be everybody e don chop their money, some people had successfully withdrawn the money they invested before each one closes down, but this reaping be like say that first customers dey collect am. If you still dey wonder why person wey don lose money to this ponzi go get mind enter another one,

This fit be why:

Greed
See eh, greediness na big problem. People wey dey enter this ponzi dey very greedy. For example, how do you expect to earn over 100k with just 1k, in the space of 1-2weeks. Which real life investments brings such return, in such small amount of time? A greedy person won’t get out of the scheme early, possibly after they have made a return of the money invested. That is why these ponzi always get them.

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Poverty
A poor person will be willing to do anything for money. The lure and promise of making large sums, while investing so little will catch a poor person’s attention. Papa Emeka wey get 7 children, person go tell am make he give am 3k,say next week he go get 300k, papa Emeka will not hesitate to give up his hard earned money after getting such enticing promise.

Laziness
People claim that working smart is better than working hard are the biggest prey of this ponzi. Of cos, we all agree that working smart is better and more beneficial than working hard. But if not for laziness, an individual would take out his/her time to check out a scheme or that investment before putting their money in it. How does it operate? How do you earn? Is it legal and insured? But laziness no go gree that person see road, except the money wey dey don tell am say e go get.

Ignorance
An ignorant person is an easy prey for this scam. They no get any idea, wetin investment or earning or profit mean. All they know and care about is money, more money. Some of these ignorant people, are not even aware when they lose their money, they are still hopeful that they will get it back somehow as they have full hope in that dubious system.

Desperation, illiteracy, Selfishness, envy all these, are part of the reasons why people repeatedly fall for this ponzi schemes. If we begin talk all wetin dey motivate people to do this ponzi, we go sleep here today. But the fact still remains, that our society needs to be careful and watchful of these dubious schemes because quick money no dey last.

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