Nigerians are beginning to complain as the new Ponzi scheme, Loom Money Nigeria, has slowed down. This is similar to how MMM took a turn towards finally crashing in 2017.

Before MMM finally crashed in the early months of 2017, members were noticing a slow movement in the rate at which the Ponzi scheme was paying. Suddenly, their fears were confirmed as the scheme crashed.

It appears same fate is about to befall Look Money Nigeria as members are beginning to whisper fears about the slowness in cashing out.

This is all happening three weeks after the Securities and Exchange Commission (SEC)  warned Nigerians to run away from Loom Money Nigeria which they termed as an online fraud packaged as investment scheme.

This was made known by the Acting Director General of SEC, Ms Mary Uduk, who stated that Loom Money Nigeria is a pyramid scheme which targets youths whom she believes will get their hands burnt if they fall for it.

Decribing it as a Ponzi scheme, Uduak said:

“We are aware of the activities of an online investment scheme tagged ‘Loom Money Nigeria’. The platform has embarked on an aggressive online media campaign on Facebook and whatsapp to lure the investing public to participate by joining various Loom whatsapp groups to invest as N1000 and N13,000 and get as much as 8 times the value of the investment in 48 hours.

See more complains here

https://thickmatch.com/loom-money-nigerians-complain-new-ponzi-scheme-slows/

Nigerians will never learn

I will start my own ponzi since Nigerians don't want to have sense

O Boy!!!!



E be like say to establish this ponzy na the surest way to make am ooo

Because Nigerians must definitely fall for its prey...


It still baffles me why we don't learn our lessons once and for all in this country...

Definition of participants in one picture

Here to read comments..

Because dem no dey tell blind man say war Don start.. seeing is believing..

For me, it’s a test of intelligence!

When I hear someone making a case for Ponzi schemes, I can straight up know what bucket to classify him/her. It tells me a lot about that person’s mental capacity.

The crash is looming.........

Naija, una no dey tire

they keep warning them but they wouldn't listen, soon they would start sipping sniper

Mugu no dey finish cause they are born everyday.

They don't ever hear.

so bad people never learn

I will rather play bet9ja 1.30odds than chase one ponzi that want to give me 30%... Ponzi na scam

if you loom u will endup doom

There is no imminent crash looming as it never had a structure in the first place

If anyone still fall for this MMM part two it means he can fall for anything.

It is easier for a goat to return to her place of punishment than a man that will fall for this trash.

Mean while

Check my signature

I laff in Swahili

Nigerians will do anything for money.. even after mmm ppl r still into this scam.

gullible people will never change.. Our problem is poverty and an astounding level of Illiteracy.

Will they hear?

Any platform whatsoever that groups people with the sole aim of collecting money from from more than two persons to pay a single person is a scam and it will die a Natural death... No matter what they call it, no matter the explanation behind it... It is bound to fail because it is not logical so to say.

This news alone, either true or false marks the end of this ponzi scheme. Lemme explain the way it will end.
Tope who is a potential investor on seeing this news will run far away, Emeka who's an investor on reading this news will now start praying to God to get back his money (at least his capital). Yakubu that just cashed out will be very happy and ready to re-invest but on hearing this news, he become patient has he meticulously follow through till the end.

NIGERIANS BE WISE.... PLEASE WHO KNOWS THIS GUY WITH THE MONIKER FUNNYNATION... THE GUY IS IN DEEP SHIT

Opportuneke:
O Boy!!!!



E be like say to establish this ponzy na the surest way to make am ooo

Because Nigerians must definitely fall for its prey...


It still baffles me why we don't learn our lessons once and for all in this country...

You've learnt your lessons already, gimme space to learn mine

And Nigerians will still patronize the next ponzi Scheme that is launched immediately loom crashes. And the cycle continues!

Nigerians will Never Learn the easy Way..

SEC please don't disturb yourselves, Allow the greedy ones to put their money there after all if the thing crashes, they won't tell us to give them back their monies, their name is OYO.

Seems most Nigerians will never learn. Anyways, all I can say is "doom" is actually "looming" and the unfortunate ones will only learn after their money has zoomed.