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

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

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.

richforever123:


All their investment has sold out, Agropartnership has a new cycle rolled, but there is none like that on Piggyvest

Typical Nairalander, asking for my age, while having a constructive discussion, you left discussion to ask for my age, so that you can say I am a small boy, while you are the most matured and intelligent

pizapato:


Lol....bros no be me ask for your age, I don talk say make you dey cool down

As for agropartnership new cycle, it is not open yet not even on agropartnership website, they are only advertising that it will open tomorrow. Let's seeing piggyvest won't have it on offer next week

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

emmanuelewumi:



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:


All their investment has sold out, Agropartnership has a new cycle rolled, but there is none like that on Piggyvest

Typical Nairalander, asking for my age, while having a constructive discussion, you left discussion to ask for my age, so that you can say I am a small boy, while you are the most matured and intelligent, it's okay, I am actually not here for that kind of discussion OgogoroFreak

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

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.

XiaoLi:
Because they are similar to fintechs.

OgogoroFreak:
In what ways?

XiaoLi:
In rates.

XiaoLi:
In rates.

OgogoroFreak:
Are you the one on your profile?

I go like fvck you. #100k

DM

jobark:
I am not holding brief for (Piggy-vest) but we must remember that:

1. They own a Microfinance bank license (cbn regulated)
2. All funds are warehoused with a fund manager (sec regulated)
3. When people break there savings, it attracts a 2.5% charge. ( not to be mistaken with flex)
4. They serve as middle men to some agrictech companies. Easily make huge commissions ( as high as 40% of the profit )
5. Briefly traded crypto ( buying and selling attracted charges
6. They trade currencies - you buy dollar at x to save and they sell back to you at y
7. And I guess they go into various businesses or commercial agreements with different firms.

All of this is not to convince anyone nor financial advice, just my 2cents on how i view the company.

pushup:

Wow....Sure disrespect. Even if you are rich, dont treat people like this

OgogoroFreak:
You know any fintech in particular that gives ponzi rate?

XiaoLi:
Those ones that was mentioned here.

einsteine:


But this is not true. The highest you can get from any fintech is 17-20% per annum. Ponzi schemes frequently promise that in a month, how's that similar?

By the way, there's nothing wrong with high rates of investment. What is important is to understand how the return is being generated and what risks it entails.

For example, 90% of people on this thread probably don't know that you can get up to 40 percent per annum on crypto stable coins (through cash and carry arbitrage on perpetual futures). But of course, if that is discussed, you will condemn it because it is not same as the anemic TB rates.

pushup:

Wow....Sure disrespect. Even if you are rich, dont treat people like this

jedisco:
Another thing folks fail to understand is that just by reason of operational overhead, it's much easier for internet based companies to convert a larger proportion of their revenue into profit.

Take Nairaland for instance, while tgere are no official figures, I'd argue that NL is more profitable than any Nigerian newspaper. Seun leverages on those newspapers to get news hence he does not need a reporter or associated logistics. NL has more daily visits than newspapers sold, NL can deliver dynamic ads as you navigate the site. Millions around the world can easily access it. Yet, theres no official operational office. I doubt if the folls on Seuns payroll are upto 20. Most cost will go to data centers which are now cloud based. Also, the room for growth on NL is huge- it could have a social media like section, escrow for buying and selling, hook-ups e.t.c All these can be built on top of the existing visitors base...

It makes sense to see that NL with virtually no office/staff, will rake in much more profits than say Vanguard or Thisday whose reporters are constantly being chased around...

Still on 'internet companies', lets not forget that some of them e.g Google, Facebook are worth more than virtually all the 'physical companies' in Nigeria put together......

OgogoroFreak:
Are you the one on your profile?

I go like fvck you. #100k

DM

NL1960:


Agropartnerships paid this morning

OgogoroFreak:
Are you the one on your profile?

I go like fvck you. #100k

DM

OgogoroFreak:
Are you the one on your profile?

I go like fvck you. #100k

DM