THREE KEY BUT NOT EXCLUSIVE REASONS WHY PEOPLE ARE EASILY DUPED IN NIGERIA.

THERE ARE THREE KEY BUT NOT EXCLUSIVE REASONS WHY PEOPLE ARE Scammed in Nigeria. These reasons include:

1. GREED.
2. IGNORANCE
3. EMOTIONS/SENTIMENT.

These reasons why most Nigerians are easily scammed in the land and its manifestations can easily be seen by the vast majority of insensitive, calous , selfish, society-hating, greedy, dumb and incompetent characters, we have as political leaders in the land.

When you collect monies to campaign, support and vote for an incompetent character, it is a form of political ponzi scheme . When you launder the image of an incompetent person to occupy positions that he is least qualified to vie for because of primordial and clannish consideration, that is ponzi scheme .

These features are also the reasons why many Nigerians patronize Ponzi Schemes, Betting /Gaming Centers and outlets that do not require them to do critical evaluations and interrogations . Microwave mentality .

Someone wakes up and demand that you bet N1000 to make N1000 the next week . You jump at it without asking the relevant questions . You do not demand to see the business plan, feasibility studies and underlying verifiable assumptions behind the money doubling venture .

See bros and sister, in this 2020, any investments or group contributory schemes, that promises to give you higher returns than what is obtained conventionally, which is not tied to real sector projects or enterprises, with clearly defined business plans , feasibility studies , cashflow modelling , the risk -return analysis and backed up by assets you can see and touch is a PONZI SCHEME or Potential Ponzi Scheme ?. Run run run .

There are genuine businesses, projects and schemes in Nigeria today that can give you a return of 36% to 100% per annum , with quarterly or semi annual dividend payout .

However, no well planned out, corporately governed and sustainable enterprise will pay you dividend on monthly basis.

Most genuine businesses, who approach the public for such pooling or collective crowd funding initiatives must be able to sweat the cash assets that you and others provided to be able to generate the appropriate yield and great margin results. Cash and asset sweating takes applications of funds and defined gestation periods to yield result.

Beware . Be intentional this 2020 and stop this microwave and lazy mentality this year .

Dr Nnaemeka Onyeka OBIARAERI, FICA, MIRA