Showing posts with label pyramid schemes. Show all posts
Showing posts with label pyramid schemes. Show all posts

List of Pyramid Schemes in Nigeria Like MMM Ponzi Scheme

Many list of pyramid schemes websites has emerged in Nigeria like MMM due to economic recession in the country and the greed to make 100% to 400% returns under few hours or days. Am not against it as many Nigerians register on these platforms in order to put food on their tables and pay the bills.


 MMM Nigeria is still paying and functioning in the country regardless of the rumours going around that the platform has crashed. One of the early platform and the most popular name in pyramid schemes in Nigeria, Mavrodian Mondial Moneybox (MMM) is still working.

Many youths and businessmen sees this era as the a cool way to defraud many others by promising good returns in short time. Some works but many do scam a lot in the game. The best part to invest your cash in the pyramid schemes is the early stage - that is when many people still join the system.

MMM came into Nigeria as a result of enthusiasm of millions of Nigerians in sports betting, they used the online platform system to lured over 3 millions of people in the system(paying 30% after 1 month). Nice returns though but we never ask how the returns comes in? How they make the 30% they pays? How MMM invest our money and the like.

Nigeria’s cyberspace was crowded with lots of these money-doubling schemes last year, with the Central Bank of Nigeria warns strongly against the prominent among them, MMM. Nigeria’s Security and Exchange Commission also warned Nigerians of investing their funds into the pyramid scheme, before participants accounts were frozen last December – and with assurance that it would be reopened on January 14, 2017.

 Before we go deep into the list of pyramid schemes in Nigeria, lets see the meaning of the term Ponzi Scheme a.k.a Pyramid Scheme.

What is Ponzi/Pyramid Scheme?

According to WikiPedia, A Ponzi scheme (/ˈpɒn.zi/; also a Ponzi game) is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned through legitimate sources.

How Ponzi/Pyramid Schemes Work?

The system of pyramid schemes needs to be understood before investing in it. It's simple and at the same time, it's complex for some people. Here is a brief ways a ponzi scheme functions;


  • A ponzi scheme convinces a few investors to place money into the investment with the promise of huge returns.
  • After the specified time, return the investment money to the investors plus the specified interest rate or returns.
  • Use success of earlier investors to convince more investors to place their money into the system. Typically, the vast majority of the earlier investors will return.
  • Repeat steps 1 through 3 a number of times. During step 2 at one of the cycles, break the pattern. Instead of returning the investment money and paying the promised return, escape with the money and start a new life.

Now, let's move to the list of peer to peer donation platform in Nigeria.

List of Pyramid Schemes in Nigeria Like MMM [Sites Like MMM]

The list of ponzi scheme websites in Nigeria include:

  1. MMM Nigeria
  2. Ultimate Cycler
  3. GiversForum
  4. Zar Fund
  5. Icharity
  6. CrowdRising
  7. GetHelpWorldWide
  8. E Cooperative
  9. NNN Nigeria

1. MMM Nigeria [nigeria-mmm.net] - MMM Nigeria currently is the most popular online money making scheme in Nigeria today. MMM Nigeria is one of branches of the MMM Global community, a Russian Ponzi scheme traced back to 1989.

MMM Nigeria is a technical platform which helps millions of participants worldwide to connect those who NEED help to those who are ready to PROVIDE help, for FREE.

All transferred funds to another participant are your help given by your own goodwill to another one in order to help him/her.  The scheme promises a 30% return on investment to members.

If an MMM participant requested to Provide Help(PH) of ₦20,000 , the system is going to merge him with someone who needs help of same amount; ₦20,000. He will see the account number of the person and pay in direcetly into the account.

2. Ultimate Cycler [ultimatecycler.com] - Ultimate Cycler is a peer to peer donation website like MMM Nigeria. Ultimate Cycler was founded by Peter Wolfing, a United States based online network marketer. Ultimate Cycler is one of the list of pyramid schemes in Nigeria.

There is no central account in the scheme. All users are required to donate to others under the 2x2 matrix.

When you registered on Ultimate Cycler, you will need to donate the sum of N12,500 to a fellow member and the person will then confirm your donation after you uploaded the proof of payment(POP).

The system (Admin) will put 4 other registered people under you from spillovers who will also pay you N12,500 each (₦12,500 times 4 equals to ₦50,000), into your bank account, making N50,000. You can also bring people to register under you if you can’t wait for the system to merge you automatically.

There are 6 matrix levels in the system that you can earn from, but the only payment you have to make is the one-time N12,500 ($25) you donate to your sponsor so as to activate your account.

3. Givers Forum [giversforum.net] - GiversForum is one of the top money making Ponzi schemes in Nigeria just like MMM Nigeria Pyramid scheme, Ultimate Cycler, i-charity, crowd rising etc. 

Following the increasing rate of newly created Ponzi schemes in Nigeria today, one can only imagine how long these schemes will trend on the web before it crashed. The domain “giversforum.net” was registered on 17th October 2016 and as today, it is one of the top 5 ponzi schemes in Nigeria. Ranking very well on Alexa.com

GIVERS FORUM is a community of givers, people who provide each other financial help on the principle of “Give, it shall be given unto you, good measure, pressed down, shaken together, running over…” In GIVERS FORUM you don’t have to make contracts or pledge your property, there are no lenders and no debtors. Everything is very simple: one participant asks for help — another one helps.

The only thing that GIVERS FORUM demands from its participants is to be honest and kind to each other. You ask for financial help when you need it, you give financial help when you are able to do it - simple.

Just like MMM Nigeria, there is no central account, where all the System money flows to (and where it can be easily stolen from). All the money is only in the bank accounts of the participants themselves.

4. Zar Fund Nigeria [Zarfund.com] - Zar fund ponzi website was founded by Hannes Jordaan, an online entrepreneur living in South Africa. Zarfund help with direct funding for your financial needs. With this program you are just a click away to financial freedom. Zarfund has helped many individuals to make huge returns on their investment.

After joining Zaefund.com,  your level 1 upline’s referral link, you need to pay your upline 0.03btc per month to be in a position to receive the same from each of your level 1 downlines.

This is followed by receiving the same amount from each of the two people you recruited. This initiates a chain such that with enough collection of funds from your level 1 downline you get to upgrade to level 2 in the same manner you joined. This process keeps expanding and helps you gain enough money in a convenient way.

It's relatively easy to make money online from Zarfund site. You gets enough ROI in short period of time.

5. ICharity [Icharity.club] - International Charity Club (fondly known as iCharity Club) is an International donation network.. iCharity.Club is a peer-to-peer donation platform for members to help other members in a systematic way.

By registering on ICharity platform, member can give and receive donations from each other. It is open to everybody, anywhere in the world can join this program.

The major difference between iCharity.Club and other networks is that iCharity.Club platform allows members to donate directly to each other (peer-to-peer) while other networks allow members to donate to each other through a central system (peer-to-server).

 This is why it has been very difficult for people to succeed in other networks being that every payment goes into a central system which further decides who to give, when to give and how to give members money. Icharity club still rocks as one in the list of pyramid scheme in Nigeria.

6. Crowd Rising [Crowdrising.com] - Crowdrising is among the list of current pyramid schemes in Nigeria, although it currently receive low traffic as one of the visited sites in Nigeria.

The crowdrising system was designed in such a way that it can be used by Fundraisers, such as for Charities, Schools, Clubs, Churches, non-profits, family, and personal financial needs etc.

The donations are NOT collected by the Administrator, nor are they automated by the system, rather donations are sent directly and personally from one member to another member, from one member’s bank account to another member’s bank account or means of payment.

CrowdRising is not a company, business or a corporation. CrowdRising System is not owned by any one individual, rather, it is a semi-automated system founded by 5 people, who are funding and founding members, referred to as the 5 Horsemen. The platform is made available world-wide, free of charge.

7. Get Help World Wide [Gethelpworldwide.com] - As the name denotes, Get help worldwide is one of the trending peer-to-peer donation sites in Nigeria today. The scheme has only been in existence since August 2016 and it already having a major share in Nigeria's networking business.

It's an online Community where people are helping each other Financially Directly with No Third Parties Involved, whatever Help you give to someone financially grows by 30% if in Local currency or 50% if in Bitcoin in 30 days.

8. E-Cooperative Online [ecooperative.online] - Ecooperative is one of the community I've cherished to be part of. It unleashes your potentials to make money from the comfort of your home than reaping off your hard earned money like other ponzi schemes sites in Nigeria.

Unlike MMM Nigeria, that gives 30%. returns on investment, e-Cooperative.online do not promise any per cent on capital donated, rather it a simple system that enable members raise the money they seek for any business project, make money from their venture, show them ideas on how to manage the money they have made, and of course show them how that money can be multiplied using various financial instrument.

There are two sides to ecooperative and you can choose which one you want to be involved in. The multilevel part of ecooperative or the business part.

Some of the services that ecooperative renders are – Fundraising through cooperative, Online and offline business development, Internet marketing and training, Online Advertising, Agro-economic ventures, Financial Empowerment services, Hire purchase service, Micro-credit, eCommerce/Online Shopping and Skill Acquisition training.

9. NNN Nigeria [https://nnn-office.com] - Three days after the alleged crashed of the Mavrodi Mundial Moneybox (MMM Nigeria), another Ponzi scheme surfaced in Nigeria, NNN. NNN is a community of ordinary people, selflessly helping each other, a kind of mutual aid.

 This is the first sprout of something new in modern soulless and ruthless world of greedy and hard cash. The goal here is not the money. The goal is to ACQUIRE AS MUCH AS YOU CAN, as stated on the website. The website is modeled after MMM Nigeria but while MMM promised 30% on investment, NNN promises 35% ROI after 30 days.

According to the website, NNN is owned by the participants, its a community by the people and for the people. A team of freedom lovers in America headed by an influential Yoruba man came up with a logic ad tested it offline in New York City in 2014. In September 2015, these men held a conference in VI Lagos where they introduced NNN logic. It was an improved MMM system- there will be no moratorium and the system will be automated.

Nevertheless, there are many other Ponzi schemes that are coming out on daily basis in Nigeria. I will not advise you to invest on anyone if you can't afford to loose the cash. MMM is a game played with spare money!!!