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3 Ponzi Schemes That Nigerians Fell For

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Ponzi schemes that Nigerians have fallen for are fraudulent investing scam that promises high rates of return with little risk to investors by acquiring new investors but then it eventually unravels when the flood of investors dries up and there isn’t enough money to go around.

Nigerians will jump at every opportunity to make quick money because of the economy breakdown that has managed to tag us as the poverty capital of the world.

Apart from the LOOM going on now, there are other Ponzi schemes Nigerians have fallen for earlier they are:

MMM

This one is the most popular of the fast money schemes. It came to Nigeria in 2015 promising customers 30% increase in whatever they invest. The CBN at one point warned Nigerians against it, but people still participated hoping to cash-out before it crashes. When MMM crashed, the Nigerian Deposit Insurance Commission said Nigerians lost N18 billion to it in 2016.

Claritta

Claritta came when MMM was coming to an end, but it didn’t last long as MMM because members were complaining that they have not been matched.

Twikas

This Ponzi scheme started in 2016 and it requires participants to donate to those that needs help. In return, they get donations with a compensation plan ranging from 40%-50%. It ended with the people complaining that they have not gotten donations even though they have donated.

All these Ponzi schemes that Nigerians have fallen for all ended with the same old story of people not getting their donations after they have donated.

AFRICAN

The Only 4 African Countries That Have Won Miss Universe Title

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African Countries That Have Won Miss Universe Title | fab.ng

While many African countries have sent representatives to the pageant, only a few have managed to clinch the coveted Miss Universe crown.

The Miss Universe pageant is one of the most prestigious beauty pageants worldwide. It has been a stage for countless beautiful women to showcase their elegance, intelligence, and talent.

1. South Africa

South Africa is the African country with the most Miss Universe wins. This stunning nation has produced four Miss Universe winners:

  • Margaret Gardiner (1978)
  • Demi-Leigh Nel-Peters (2017)
  • Zozibini Tunzi (2019)
  • Andrea Meza (2020)

These South African beauties have not only captivated the world with their beauty but have also used their platforms to advocate for important social causes.

2. Namibia

Namibia, a small country in Southern Africa, has also made its mark on the Miss Universe stage.

  • Michelle McLean won the Miss Universe title in 1992.

This stunning Namibian beauty brought pride to her nation and continues to be an inspiration to many.

3. Angola

Angola, a country rich in culture and natural beauty, has also produced a Miss Universe winner.

  • Leila Lopes was crowned Miss Universe in 2011.

Her win marked a significant moment for Angola and showcased the beauty and talent of African women.

4. Botswana

Botswana, a landlocked country in Southern Africa, may be small, but it has produced one of the most iconic Miss Universe winners.

  • Ntsepa Motsepe won the Miss Universe title in 1999.

Her win was a surprise to many, but it solidified Botswana’s place in the pageant world.

These four African countries – South Africa, Namibia, Angola, and Botswana – have proven that African beauty is truly global.

They have inspired countless young women across the continent and beyond to dream big and pursue their passions.

As the Miss Universe pageant continues to evolve, we can only hope to see more African countries adding their names to this prestigious list.

Check here for more articles.

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AFRICAN

See The Trailer For “Two Of A Kind” Starring Rita Dominic

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Two Of A Kind Starring Rita Dominic; See Trailer | fab.ng

The official trailer for “Two of a Kind” has now launched, marking the latest directorial work from acclaimed filmmaker Shirley Frimpong-Manso.

Leading Nollywood actress Rita Dominic leads the cast in this new production. The film completed its primary filming phase earlier this year.

The star also shared the film’s trailer with her followers through her Instagram platform, generating excitement for the upcoming release.

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AFRICAN

Biennale College Cinema Announces Kenyan-Nigerian Project For Next Edition

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1 Woman 1 Bra: Kenyan-Nigerian project | fab.ng

Biennale College Cinema in Venice has announced the Kenyan-Nigerian project, “1 Woman 1 Bra“. The director-producer duo, Vincho Nchogu and Josh Olaoluwa worked on the project. It is the only African project selected for the 13th edition of the festival. This marks a significant achievement for African cinema on the global stage.

“1 Woman 1 Bra” is among 12 projects chosen for the 2024/25 Biennale College Cinema.

These projects were unveiled during the 81st Venice International Film Festival. The teams, consisting of a director and a producer, will participate in an initial 10-day workshop in Venice. This workshop will take place from October 8 to 17, 2024.

Nchogu, the Kenyan director, and Olaoluwa, the Nigerian producer, will present their first feature film project at the workshop. Afterwards, four of the 12 projects will be selected to receive up to 200,000 Euros in production funding.

Furthermore, these four films will premiere at the 82nd Venice Film Festival in 2025. This opportunity is another milestone for Nchogu and Olaoluwa. Consequently, they have previously participated in the Red Sea Lodge and Torino Film Lab.

The Biennale College Cinema is an advanced training lab that opens doors for filmmakers worldwide. It provides a platform for emerging voices in cinema and offers valuable resources to bring creative visions to life.

Nine of the twelve projects were selected from the Biennale College Cinema – International competition. Meanwhile, the remaining three came from the Biennale College Cinema – Italy competition.

In addition to “1 Woman 1 Bra”, other notable projects include “Agnus Dei” by Massimiliano Camaiti, a second-time feature director, and producer Giovanna Nicolai. Another selected project, “Badland”, comes from first-time feature director Mounir Derbal and producer Lorenzo Fiuzzi. “Becoming Human” by director Polen Ly and producer Daniel Mattes also made the list.

Further selections include “Last Time, Again” by Chinese director Di Zhang and Canadian producer Beryl Liu, “Orange Peel” by Italian director Anita Rivaroli and producer Marco Mingolla, and “Saving The Day” by Turkish director Serhat Karaaslan and French producer Laura Dahout.

Indian director Nidhi Saxena and producer Vimukthi Jayasundara’s “Secret Of A Mountain Serpent” was also selected, along with “Summer 1999” by Vietnamese director Hang Luong Nguyen and producer Dinh Le Minh Trinh.

Other featured projects include “The Booking” by American director Gabriella Moses and producer Sarah Wharton, “The Family” by Ukrainian director Hanna Jalali and Iranian producer Moeinoddin Jalali, and “Vanishing Bones” by French director Simon Rieth and producer Inès Daïen Dasi.

Check out more updates here.

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