Monibox is a new peer to peer donation where you donate a certain amount and get double the amount in return within a given period like other ponzi scams have touted.
Promoters of the scheme say for instance you donate NGN20,000 to another participant and receive NGN40,000 in return within 3 to 7 working days.
Upon registration, participants are requested to indicate their interest to donate the sum and then get matched to pay another participant. which is the usual way among all ponzi schemes.
Monibox also promises referral bonus of about 10% of NGN2,000 for each active referral who is introduced to the system using the referral link. The NGN2,000 referral bonus is activated when the referral has successfully participated in the community.
What Monibox has done is simply to replicate the mode of operation of other sites as it is nothing different from the rest. They all promise to provide financial assistance to those in need like they are philanthropists, but are only interested in populating their system with greedy individuals who want to reap where they did not sow.
Another common feature among all ponzi schemes is the adoption of adding testimonials to their site and this can be found on Monibox’ website, perhaps they are not real testimonies.
Another glaring fact is that the level of desperation to make wealth has further been incited which now beckons on the federal government to checkmate every medium through which ponzi promoters operate.
Just recently, the Nigerian Securities and Exchange Commission, SEC exposed and declared Tine God Networks Limited as a Ponzi scam. SEC said Tine God Networks Limited claimed to be an Investment Company that engages in Business Development in Commercial sectors of the economy and also issues bonds to raise funds for its investment activities.
Monibox is not a safe money box where you want to keep your money, it is just another pit.