richforever123:


They were investigating IMG and they saw the transaction, they have no reason to lie, they saw all the transactions that were made, including that of a popular church, they have no reason to lie, however, you can believe what you want, I will go for proper investment houses that are properly monitored

As emmanuelewumi will say return of investment is better than returns on investment

And do put all your eggs in a basket

OgogoroFreak:
pure lies and gibberish. Unverified nonsense.

Funds are invested in bonds, Treasury Bills, money market funds, fixed income and yet returns are higher than what those assets are producing.


They have Investments in money lending firms, that is how they can give such superior returns

emmanuelewumi:



And do put all your eggs in a basket

You mean do not?

richforever123:


You mean do not?

Do not

richforever123:


They were investigating IMG and they saw the transaction, they have no reason to lie, they saw all the transactions that were made, including that of a popular church, they have no reason to lie, however, you can believe what you want, I will go for proper investment houses that are properly monitored

As emmanuelewumi will say return of investment is better than returns on investment

"THEY"?

Who were investigating and how were they investigating?

EFCC or CBN??

emmanuelewumi:



Funds are invested in bonds, Treasury Bills, money market funds, fixed income and yet returns are higher than what those assets are producing.


They have Investments in money lending firms, that is how they can give such superior returns

I also believe they do but certainly they don't have Investments in a ponzi scheme.

Maybe with a microfinance bank cos some microfinance bank like blueridge gives 20% per annum. Opay use blueridge microfinance bank but gives 15% per annum.

OgogoroFreak:
"THEY"?

Who were investigating and how were they investigating?

EFCC or CBN??

The people who had their money invested, people have access to this information, they are trying to track them down, the last transaction they did was the purchase of uniforms for their children in UK

I joined the Telegram Group for Farmsponsor aggrieved investors, not because I invested, but because I wanted to see how to go about the recovery, this is Nigeria, a single person can place a PND on your account, bankers who have also lost funds provide access to this information, generally, the people do not have trust in EFCC or CBN any longer, all they do is freeze the account for years and extort the people

I don't know if EFCC is involved yet, but I can tell you that people in very high places invested and they are trying to track them down and they are using the money trail to do it

My issue is not them investing with IMG, but if they are going to invest a small percentage of the funds in money lending service, let them be straight forward like Branch is, that's a red flag

emmanuelewumi:



Funds are invested in bonds, Treasury Bills, money market funds, fixed income and yet returns are higher than what those assets are producing.


They have Investments in money lending firms, that is how they can give such superior returns

Spot on

richforever123:


The people who had their money invested, people have access to this information, they are trying to track them down, the last transaction they did was the purchase of uniforms for their children in UK

I joined the Telegram Group for Farmsponsor aggrieved investors, not because I invested, but because I wanted to see how to go about the recovery, this is Nigeria, a single person can place a PND on your account, bankers who have also lost funds provide access to this information, generally, the people do not have trust in EFCC or CBN any longer, all they do is freeze the account for years and extort the people

I don't know if EFCC is involved yet, but I can tell you that people in very high places invested and they are trying to track them down and they are using the money trail to do it

My issue is not them investing with IMG, but if they are going to invest a small percentage of the funds in money lending service, let them be straight forward like Branch is, that's a red flag

How old are you sef?

Afromentalist:

Are you serious at all?

I always doubted Piggyvest or GTB and other institutional investors invested from the onset, which I have even explicitly expressed here in my first post on this topic.

Have you not read the official communication of Piggyvest on this topic ?

Some of you just argue for argument sake.

It is a fake news bros. Piggyvest didn't invest in that scheme.
The person that shared the news on twitter has deleted it and I think has been charged to court for Defamation. He claimed he worked for a competitor so it is case of mudsliggging. Make una dey cool down

OgogoroFreak:
I also believe they do but certainly they don't have Investments in a ponzi scheme.

Maybe with a microfinance bank cos some microfinance bank like blueridge microfinance bank used by opay gives 20% per annume.

Any Investment that will go you 10% per month, will end up being a Ponzi


The fintect loan operators that are charging interest of 10% per month on loans are not finding it easy sef

How did IMG raise such huge funds and yet they are not popular on the social media?

emmanuelewumi:


Any Investment that will go you 10% per month, will end up being a Ponzi


The fintect loan operators that are charging interest of 10% per month on loans are not finding it easy sef

Every right thinking person should know that.

Is there any fintech giving 10% per month?

pizapato:


It is a fake news bros. Piggyvest didn't invest in that scheme.
The person that shared the news on twitter has deleted it and I think has been charged to court for Defamation. He claimed he worked for a competitor so it is case of mudsliggging. Make una dey cool down

The person that originally shared it on Instagram still has it on her status, she even had an interaction with the CEO of Piggyvest and shared it also her username is __trapselena_ you can check her out

emmanuelewumi:
How did IMG raise such huge funds and yet they are not popular on the social media?

Because people are attracted to very high interest rates(ponzi rates). People will even go as far as gathering funds from families, friends and even enemies to invest. Some take loans, sell properties to invest in the ponzi.

emmanuelewumi:
How did IMG raise such huge funds and yet they are not popular on the social media?

It amazes me, I have never heard of them till today, let's see how the situation unfold

emmanuelewumi:



Funds are invested in bonds, Treasury Bills, money market funds, fixed income and yet returns are higher than what those assets are producing.


They have Investments in money lending firms, that is how they can give such superior returns

Their rate is just slightly above what is obtainable in mmf. 12% per annum.


They offer the chance to invest in other instruments such as agrictech at higher rate. Their rates for agritech is always lower that what the agric tech give direct customers. That's because piggyvest also insures its investment with agric tech.
We have to give them benefit of doubt. The big banks we see today started from somewhere too.
Piggyvest and cowrywise have remain upright with their customers for close to 5 years now

pizapato:


Their rate is just slightly above what is obtainable in mmf. 12% per annum.


They offer the chance to invest other instruments such as agrictech at higher rate. Their rates for agritech is always lower that what the agric tech give direct customers. That's because piggyvest also insures its investment with agric tech.
We have to give them benefit of doubt. The big banks we see today started from somewhere too.
Piggyvest and cowrywise have remain upright with their customers for close to 5 years now

What is obtained by MMF is 8%, where is the other 4% coming from? If you noticed, they have stopped Agric-Tech Investments because it was unsustainable with too many defaults, let's give them the benefit of doubt

richforever123:


The person that originally shared it on Instagram still has it on her status, she even had an interaction with the CEO of Piggyvest and shared it also her username is __trapselena_ you can check her out

No make me laugh abeg. Everybody dey hustle.

Very soon, she will introduce an investment after doing damage to legit ones and many solo thinking people would rush to invest.

Thats why you should be careful with the source you get your information from.

emmanuelewumi:
How did IMG raise such huge funds and yet they are not popular on the social media?

The promoter of the business was a former banker with Zenith bank.

He resigned to start the business and it was profitable. If he had stopped as a N500 million to N1 billion business, paying investors 2.5% per month he might have been sustainable.


Your bank account officer or marketer should NOT be your financial adviser. Lai Lai.


The guy made use of account officers and marketers in the banks. These people know customers with huge account balances.

They convinced these customers with huge account balances to invest in IMG..


IMG paid the bankers good referral fees. IMG equally employed some of these bankers offering them 4 times to 5 times of their salaries.

The promoter of IMG also used churches where the upwardly mobile and top middle class attend to market his business.

It appears people stop being rational and logical with their money when they get into churches or religious organizations.

We should know that Nigerians are not nice " when Nigerians start telling you the secrets of their wealth and are inviting you to come and invest, we need to be extremely careful."
Most times it will end in premium tears.


I think those bankers who adviced their customers to invest in IMG should be sacked by their employers.


Many years ago my account officer at First Bank told me to invest in Nospetco, thank God for contentment. That same year my Stockbroker told me to invest in Sefteg, God has a way of protecting His own. The person I loaned the money to did not pay as scheduled, by the time he paid Sefteg and Nospetco had crashed.


When Investing don't just look at the upside, also consider the downside.

Ask questions on how the business or Investment makes money and the sustainability of the money made

richforever123:


The person that originally shared it on Instagram still has it on her status, she even had an interaction with the CEO of Piggyvest and shared it also her username is __trapselena_ you can check her out

She also mentioned GTB and Afrinvest. Do you also believe that these organisations invested in IMG?

Her claims are unverifiable if she can't provide evidence of transaction to back it up.
Let's all watch as the drama unfolds.

OgogoroFreak:
No make me laugh abeg. Everybody dey hustle.

Thats why you should be careful with the source you get your information from.

I tire for the bros, he was saying it like he saw the evidence of transaction himself.

pizapato:


She also mentioned GTB ans Afrinvest. Do you also believe that these organisations invested in IMG?

Her claims are unverifiable if she can't provide evidence of transaction to back it up.
Let's all watch as the drama unfolds.

She has plans to introduce an investment to her targeted followers aka Zombi.

pizapato:


Their rate is just slightly above what is obtainable in mmf. 12% per annum.


They offer the chance to invest in other instruments such as agrictech at higher rate. Their rates for agritech is always lower that what the agric tech give direct customers. That's because piggyvest also insures its investment with agric tech.
We have to give them benefit of doubt. The big banks we see today started from somewhere too.
Piggyvest and cowrywise have remain upright with their customers for close to 5 years now

Benefits of doubt if you have enough security for the funds, appropriate licenses and good corporate governance.

Most operate in a 3 bedroom apartment somewhere in Ikeja, Surulere, Lekki or Victoria Island. Some are even sharing the apartments.

What are the tangible assets to hold on to when things go south?

Why one should not have all his other her eggs in one basket

pizapato:


I tire for the bros, he was saying it like he saw the evidence of transaction himself.

Thats why I was curious about his age.

pizapato:


She also mentioned GTB ans Afrinvest. Do you also believe that these organisations invested in IMG?

Her claims are unverifiable if she can't provide evidence of transaction to back it up.
Let's all watch as the drama unfolds.

There workers got cheap loans from their employers to invest, some convinced the bank customers to invest, some became fund managers to their customers and invested in IMG.

No be small matter, heads will roll

OgogoroFreak:
No make me laugh abeg. Everybody dey hustle.

Very soon, she will introduce an investment after doing damage to legit ones and many solo thinking people would rush to invest.

Thats why you should be careful with the source you get your information from.

It will end in tears. Most legit money making opportunities are highly coded

emmanuelewumi:



There workers got cheap loans from their employers to invest, some convinced the bank customers to invest, some became fund managers to their customers and invested in IMG.

No be small matter, heads will roll

Interesting!
Truly no be small matter.
If people really want to take risk with their money, NSE or crypto is the way to go. In both, you can loose some of your capital but never all of it.
People will think money can't be made in NSE but in that same place UCAP, Guiness and Vitafoam has returned 100% profit this year.

richforever123:


What is obtained by MMF is 8%, where is the other 4% coming from? If you noticed, they have stopped Agric-Tech Investments because it was unsustainable with too many defaults, let's give them the benefit of doubt

They've not stopped, now they deal with only agropartnership, which is the only agrictech that has not defaulted over the years.

In as much as I can't totally vouch for them, I also don't see reasons why you should continue to propagate claims you can't verify.
Anyone taking his money to piggyvest know their is some form of risk attached just like any investment.
Reason why one shouldn't put all eggs in one basket like Pa emma adviced.

pizapato:


They've not stopped, now they deal with only agropartnership, which is the only agrictech that has not defaulted over the years.

In as much as I can't totally vouch for them, I also don't see reasons why you should continue to propagate claims you can't verify.
Anyone taking his money to piggyvest know their is some form of risk attached just like any investment.
Reason why one shouldn't put all eggs in one basket like Pa emma adviced.

This is just the truth.

I have noticed whenever a ponzi scheme fail as expected, most people on this group find a way to rope and drag fintechs along and I don't understand why.

OgogoroFreak:
This is just the truth.

I have noticed whenever a ponzi scheme fail as expected, most people on this group find a way to rope and drag fintechs along and I don't understand why.

Any investment house doing over 10% returns when tbills, mutual funds are quite low is already a red flag. If piggyvest do not adjust their rates sooner than later it will end in tears. You can keep ranting because they have your money

chigo4u:

Any investment house doing over 10% returns when tbills, mutual funds are quite low is already a red flag. If piggyvest do not adjust their rates sooner than later it will end in tears. You can keep ranting because they have your money

They dont even have my money and they can be a red flag to you, thats totally fine. Afterall, I have friends who don't invest outside bond and tbills. We have different finance knowledge and risk appetite.

I have used alot of fintechs from opay, branch, cowrywise, piggyvest, risevest, bridge microfinance, bamboo, Trove, i-invest etc they all have apps on playstore and all did well. Excellent services but 90% of my investment is in bitc0in and I have made quadrupled gains in a short period. I only do what works for me. What works for me, might not work for you.