Tale of 58 Ponzi schemes and 30 signs of scam to watch – Stay Alert! - ITREALMS

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Remmy Nweke

Preamble:

As the weekend and holiday approach, it's essential to be aware of the dangers lurking in the financial world in the last few days. Though, the Economic and Financial Crimes Commission (EFCC) had issued a warning about 58 Ponzi schemes operating in Nigeria, it's crucial to understand the risks involved, even as many schemes seem to debut daily.

Noteworthy is that in the last seven days, about two known ponzi schemes namely Cyrpto Bank Exchange (CBEC) and ADK Services have collapsed with trillions of hard earned Naira developing wings.