News
OPINION: Double Your Hustle Or Double Wahala? Ponzi Schemes And The Naija Dream
Published
1 month agoon
By
Editor
By Israel Adebiyi
Dear Nigerians,
Why we no dey ever learn?
Once again, we are here — with agbada-wearing fraudsters, WhatsApp prophets of “investment blessings,” and another set of hardworking Nigerians crying into empty bank accounts. This time, it’s the N1.3 trillion CryptoBank Exchange (CBEX) saga. Even Interpol had to pack bag and join the Economic and Financial Crimes Commission (EFCC) in the probe. But before we go into that heartbreak, let’s define what this “investment” really is.
Ponzi Scheme 101- Ojoro with Packaging
A Ponzi scheme is like borrowing money from Peter to pay Paul — until Peter, Paul, and their village people realize there’s no real business going on, just moving money in circles. It’s named after Charles Ponzi, an Italian conman in the 1920s who promised 50% returns in 45 days. The only thing he delivered was mass disappointment — and a prison sentence.
Ponzi schemes don’t invest in anything real. They just need more people to join so they can pay the older ones. Once new recruits stop entering the net, the system crashes. And in Nigeria, we’ve turned this crash into a seasonal sport.
Ask around. We’ve seen it all — from MMM that shook us in 2016, to Ultimate Cycler, Twinkas, iCharity, Loom, MBA Forex, and now CBEC Energy. Nigeria doesn’t just fall for Ponzi — we dive in with somersault.
When MMM collapsed, some people lost money, others lost marriages, and one guy even reportedly entered bush for deliverance. Yet, we still no dey hear word. As soon as another sharp guy appears with a fake accent and PowerPoint, we line up again like JAMB center.
READ ALSO: OPINION: Hakeem Baba-Ahmed, The North And Our Votes
Let’s be honest — many Nigerians are caught in the web of their own greed. Others are not. They’re just tired. Tired of grinding every day and still not affording garri without groundnut. So when someone comes and says, “Bring 50k today, collect 200k in 2 weeks,” it starts to sound like divine intervention. We’re in a country where you can work 9–5 for five years and still need a loan to buy suya. So, tell me why somebody won’t see a “Double Your Money” text and shout “Omo, this is my break!” The system has broken our patience. People don’t want to ‘blow’ anymore — they want to explode. Slow and steady no longer wins the race. In Nigeria, it’s fast and furious — or nothing.
Some however join Ponzi with full chest — knowing it’s scam. But the plan is to cash out before it crashes. This is the “If I enter early, I go chop” mindset. Others genuinely believe it’s legit. Their neighbour just bought a car. Someone in church gave testimony. So they sell land, borrow from cooperative, and throw all their life savings inside. But like that loud generator in every compound, one day e go spoil. And when it does, the only thing people are left with is fake Telegram groups, blocked admins, and long queues at police stations.
Here’s the real wahala: Ponzi schemes don’t operate in hiding. They rent offices, some run ads on TV/radio, organize seminars in big hotels, and sometimes even get celebrities to endorse them. Do that sound familiar? Didn’t victims of CBEX adduce the same reasons for investing hard-earned monies generously? So how come no one stops them early? Because many of them register as “legitimate businesses.” Our regulatory bodies, like Corporate Affairs Commission (CAC), Central Bank of Nigeria (CBN), Security and Exchange Commission (SEC), and the EFCC, often wake up after the fraudsters have disappeared — along with people’s pension money and school fees.
Sometimes, you even start to suspect foul play — like someone in high places is sipping tea while Nigerians weep.
READ ALSO: OPINION: Nigerian Leaders As CBEX Ponzi Chancers
It’s time we stop turning Ponzi schemes into a cultural phenomenon. You can’t “invest” in someone’s greed and not expect karma to withdraw heavily. Government must crack down harder and faster. Regulatory agencies must stop tweeting warnings — and start shutting down offices. Arrest the founders. Freeze the accounts. Deter celebrity endorsement. Scrutinize media contents for too good to be true investment schemes. Ban the use of testimonies to bait poor people.
And as citizens, we need to resist this urge to turn every WhatsApp broadcast into a bank alert. If it sounds too good to be true — oga, it is too good to be true!
In Conclusion…
Dear Nigerian, hustle legit. Life may be hard, but there’s no shortcut in a maze. Next time someone says, “Bring 100k today and earn 1 million next week,” ask them: If e sure like that, why you dey tell me? Why you no do am alone?
Until we get a country that works, don’t let your desperation become a business opportunity for conmen. Remember, if you fall once, it’s mistake. If you fall twice, it’s lesson. But if you fall every time? Omo, na your village people dey use you for rehearsal.
Until next week,
Keep your finger on the Nation’s Pulse.
You may like
OPINION: Children’s Day And The Scam Of Tomorrow
OPINION: How Long Can The President Run From His Shadow?
OPINION: Ibadan-Oyo War Of Supremacy Over Obas Council
OPINION: Tinubu’s Lifejacket And A Deer’s Sacred Skin
OPINION: Will Nigeria Be As Lucky As King Sunny Ade?
Rich In Naira, Poor In Hope: The Burden On Nigeria’s Super-Rich

By Israel Adebiyi
Once upon a time in many Nigerian homes, there was a rhythm to childhood. It echoed in the laughter of children gathered under the moonlight, listening to folktales from wise grandmothers—stories of Tortoise and the hare, morality and mischief, hard work and honesty. It echoed in warm evenings of family dinners, morning treks to school in uniforms neatly ironed, and the comfort of knowing that adults were in charge—parents, teachers, and a government that at least pretended to care. That rhythm has long faded.
Today, the Nigerian child is born into chaos, grows up amid contradictions, and learns too early that promises mean nothing. Each May 27, we gather to recite that children are “the leaders of tomorrow,” but what we fail to admit is that this tomorrow is deliberately being sabotaged. It is not just lost; it is being stolen in broad daylight.
Let’s Begin with Education. Nigeria has the highest number of out-of-school children in the world—an estimated 18.5 million. That number alone should spark a national emergency, yet it is spoken of with such casualness you’d think it were a weather forecast. Millions of children roam the streets hawking sachet water, fruits, or plastic wares when they should be in classrooms. In the North, Almajiri children continue to be abandoned in large numbers under a system that provides neither education nor security. In many Southern states, children are seen as economic props, pushed into trade or house help servitude.
Those who make it to school are not necessarily lucky. Public schools across the country are crumbling. From leaking roofs and broken chairs to the absence of toilets, blackboards, and learning aids, many Nigerian classrooms are not places of learning but sites of struggle. The curriculum remains outdated, irrelevant to modern realities, and poorly delivered. While the world is building coding academies for toddlers, we are still teaching children to cram colonial poetry and 1980s textbook diagrams.
MORE FROM THE AUTHOR:[Opinion] From Classroom to Crisis: The Slow Death of Nigeria’s Education System
Teachers, the supposed nation-builders, are grossly underpaid and in many cases, underqualified. In some schools, a single teacher manages four to six classes. Training and capacity development are either nonexistent or political rituals. How does a child receive quality education when their teacher is themselves a victim of a broken system?
Worse still, our schools are no longer safe. With rising cases of abductions—from Chibok to Kagara to Dapchi—parents are forced to weigh the risk of education against the price of safety. This is a dilemma that should never exist in a sane society. A government that cannot secure its schools has no business sermonizing about the importance of education.
In the health sector, Nigeria’s infant and child mortality rates remain among the highest globally. According to UNICEF, one in ten Nigerian children dies before their fifth birthday, mostly from preventable causes. Many Nigerian children still die from diarrhoea, malaria, pneumonia, and malnutrition—ailments the world conquered decades ago. Our immunization coverage is poor, especially in rural areas where vaccine hesitancy and infrastructural gaps persist.
Traditional birth attendants continue to thrive in areas where government clinics are either too far, too expensive, or simply unavailable. Expectant mothers still deliver on floors or with torchlight. Where children are born into such conditions, the cycle of vulnerability begins at birth.
Here are the unspoken scars of the Nigerian Child – Abuse and Rights Violations. The Nigerian Child Rights Act (2003) is a comprehensive legal document that affirms the rights of every Nigerian child to survival, development, protection, and participation. Yet, over 20 years later, some states have still not domesticated this law. And in states where it exists, enforcement is patchy at best.
MORE FROM THE AUTHOR: OPINION: Trodding On The Winepress: All Hail The Nigerian Workers
Children suffer physical abuse, sexual exploitation, forced labour, trafficking, and emotional neglect daily. From baby factories to underage marriages to child soldiers in conflict zones, Nigeria has become a theatre of child rights violations. It is one thing to be poor. It is another to be unprotected.
When we say children are “the leaders of tomorrow,” what exactly do we mean? A child growing up amid poverty, violence, abuse, and hunger will not suddenly blossom into a competent leader because we proclaimed it. Leadership is cultivated. And cultivation requires care, systems, and consistent investment. We are not preparing children for tomorrow; we are abandoning them to survive today.
In many homes, the idea of parenting has become largely transactional. Economic hardship has eroded family bonding. Tales by moonlight have been replaced by cartoons on phones. Parents, stressed and underpaid, often have nothing left to give emotionally. We are raising children in isolation—physically present but emotionally disconnected. The result is a generation growing up without empathy, values, or vision.
Parents and communities must take back the moral responsibility of shaping children. Government cannot parent our children for us. But government must provide the basic scaffolding—schools, clinics, protection, and justice.
In the final analysis, May 27 must stop being a day of sugar-coated statements. It must become a mirror—a day of national reflection, policy accountability, and renewed investment in our children’s future.
The Nigerian child is not asking for luxuries. They are asking for classrooms with roofs, teachers who show up, clinics that work, and laws that protect. They are asking for the basic dignity of being raised in a country that sees them not as statistics, but as citizens. Until then, the phrase “leaders of tomorrow” remains a grand deception—a scam coated in celebration.
It is time to give children more than cake and fanfare. It is time to give them a future.
News
CBN Donates Motorized Fire Caddy To Federal Fire Service In Bauchi
Published
2 days agoon
May 28, 2025By
Editor
The Central Bank of Nigeria (CBN) Bauchi State Branch has donated a Motorised Fire Caddy to the Federal Fire Service (FFS) Headquarters, Bauchi State Command.
Speaking during the handing over of the mobile fire suppression system on Tuesday, Mr James Laburta, the CBN Bauchi Branch Controller, said the gesture was part of its corporate social responsibility.
He commended the Federal Fire Service for its dedication toward fighting fire outbreaks in the state and reaffirmed the bank’s commitment to community safety.
According to him, the gesture underscored the importance of partnerships between government agencies and corporate institutions in safeguarding lives and property.
READ ALSO: Flood: NEMA Launches National Preparedness, Response Campaign In Bauchi
Responding, DCF Babangida Abba, the Acting State Controller of the Federal Fire Service in the state, expressed profound gratitude toward the gesture.
He emphasised the critical role of such support in enhancing the command’s capacity to respond swiftly to fire emergencies, especially in hard-to-reach areas.
Abba noted that the donation came at a crucial time, given the recent surge in fire incidents across the state.
While encouraging the general public to remain vigilant and proactive about fire safety, he assured that the equipment would be effectively deployed for emergency response and training.
READ ALSO: FG Renews Exploration License Of Oil In Bauchi – Minister
Also, speaking at the sideline of the event, ASF Umar Lawal, the Public Relations Officer of the Fire Service, said the equipment is used in areas where traditional fire hydrants or fixed systems are not readily available.
“This unit is typically portable and easy to maneuver, making it suitable for various locations.
“The motorised fire caddy is designed for skilled and unskilled Firefighters to use as a quick-response method for Firefighting in their early stages.
“As it beats response time to emergencies, it’s also used for institutional training reaching out to incident ground scene especially in hard-to-reach areas where our Fire truck can’t have access to the fire ground,” he said.
News
75-year-old Edo Pilgrim Dies During Hajj In S’Arabia
Published
2 days agoon
May 27, 2025By
Editor
A 75-year-old woman from Edo State, Adizatu Dazumi, died during the 2025 Hajj in Saudi Arabia.
Dazumi was from Jattu Uzairue in Etsako West Local Government Area.
According to The PUNCH, pilgrim died on Monday at King Fahad General Hospital in Makkah after a short illness.
The Chairman of the Edo State Muslim Pilgrims Welfare Board, Musah Uduimoh, confirmed her death on Tuesday.
READ ALSO: Hajj 2024: Nigerian Pilgrim Allegedly Commits Suicide In Saudi Arabia, Another Dies From Illness
Uduimoh said Dazumi became ill shortly after performing Tawaaf (walking around the Kaaba) and was taken to the hospital on Sunday. She passed away the next day.
“She was buried in Makkah on the same day, according to Islamic tradition, and her family in Jattu Uzairue has been informed,” Uduimoh said.
He sent his condolences to her family and assured other pilgrims that the board is committed to their health and safety.
- OPINION: Children’s Day And The Scam Of Tomorrow
- CBN Donates Motorized Fire Caddy To Federal Fire Service In Bauchi
- 75-year-old Edo Pilgrim Dies During Hajj In S’Arabia
- EFCC Arraigns Bankers, Accomplices For Alleged N8.5bn Fraud
- How I Delivered $400,000 Cash To Emefiele – Ex-aide
- Gumi Reacts As Saudi Bars Him From Hajj
- Trump Says Putin ‘Playing With Fire’ In New Jab At Russian Leader
- Children’s Day: Dissuade Your Wards From Joining Cultism, Okpebholo Urges Parents, Guardians
- FULL TEXT: Tinubu Seeks End To Bullying, Pledges Commitment To Children Welfare
- OPINION: How Long Can The President Run From His Shadow?
About Us
Trending
- News5 days ago
FG Probes Night Examination In Unity School Asaba
- Headline4 days ago
Woman Forced To Remove Heavy Make-up After Airport Scanners Fail To Recognise Her
- Headline4 days ago
How I Made $1m In Two Years Performing Farm Chores Naked — Woman
- Metro3 days ago
JUST IN: FCTA Staff Seal PDP National Headquarters
- News5 days ago
Adeyanju Blasts Obi, Obidients Over Attack On Sowore
- Headline4 days ago
Check Out World’s Richest King With 38 Private Jets, 300 Cars, 52 Golden Boats
- News4 days ago
OPINION: Tinubu’s Lifejacket And A Deer’s Sacred Skin
- News3 days ago
OPINION: Ibadan-Oyo War Of Supremacy Over Obas Council
- News4 days ago
JAMB Releases 2025 UTME Resit Results, Records Over 21,000 Absentees
- Entertainment4 days ago
Many Men Coming After Me, Not Sure Who To Pick — Nollywood Actress, Angela Okorie