Ponzi scheme

The Nigeria Deposit Insurance Corporation (NDIC) on Thursday cautioned Nigerians not to patronize the services of Ponzi schemes and illegal fund managers also called “wonder banks”. NDIC…

At the peak of the Mavrodi Mundial Moneybox (MMM) Ponzi scheme that crashed in December 2016, many Nigerians had caught the bug of quick, large returns on investment of up to 50 percent.…