Ponzi Scheme: Beware Of Naijaloan!

By Eyo Nse,

In the past years, Nigerians has been roped off their hard earns cash in ponzi schemes.

The operators or owners of these ponzi Scheme platforms have been richer as the year rolls in due to the high unemployment rate in Nigeria.

Beware Of Naijaloan

Recall that some years ago, a popular ponzi scheme, MMM swindle billions of Naira from innocent and poor Nigerians.

Of recent, Brainnews has taken notice of Naijaloan, a platform which says users can make upto N120,000 monthly.

Naijaloan has 128,944 Members, also the platform says it had paid ₦98,838,000 (N98.8 million) to its users.

Beware Of Naijaloan

Below is what the platform says they are into;

NaijaLoan is an innovative member-to-member lending platform where all members are lenders and borrowers at the same time.

Member-to-Member lending means whenever you are giving a loan, you are giving it directly to a member on the platform, and whenever you are requesting for a loan, another member on the platform will give you the loan directly. We are the middle-man that connects everybody. That is, we are not the one giving you the loan, neither are we the one borrowing from you.

But how can all members be lenders and borrowers at the same time? That’s tough to answer, but you will get it, do not worry. Scroll down to the next question for explanation.

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