Interesting how many of these ponzi schemes come up with names, Naijapay is another peering platform. In this scheme, participants have an opportunity of doubling their funds according to the information available on the site.
Ponzi scheme promoters often paint their programs as the messiah and saviour from poverty and lack.
‘The promoters say ‘Naijapay was founded by a team of enthusiastic humanitarian specialists who wanted to overcome the routine and create a platform that would act in the market not only for business success but for the sake of humanitarian and financial empowerment services.’
It is funny how the word ‘humanitarian’ is usually used by virtually all ponzi promoters. It then makes one wonder if they understand the meaning, because no one seeking the true welfare of other would create programs where participants are bound to lose.
Naijapay has a legal note for all its members for those who care to read, but this still does not make the scheme a ‘saint’, it is just like the others.
‘NAIJAPAY is a people community, which help each other for free, and absolutely consciously, they transfer money directly to each other .i.e. peer-to-peer, from one bank account to another, without any conditions, guarantees and promises. Just only because they want to do that. Because it is a good deal to help each other. It means the Mutual benefit fund as it is. There is no formal organization, no legal person in NAIJAPAY. And of course there is no central bank account, no other activity in any form. Neither close, nor open. There is nothing! There are only millions and millions of simple participants, simple private persons all over the world. And nothing more. And of course there is no special registrations, permission and licenses in here. (Permissions and licenses for what and for what reason? For money transfer from one man to another? And whom this licenses and permissions should be given?. Thus, NAIJAPAY is absolutely legal and does not break any laws. Because there are only money transfers between private persons and nothing more. It is impossible to forbid NAIJAPAY. The same way it is impossible to forbid people from managing their own money the way they like. Thus they need to forbid the whole private property institution. So everything is absolutely clear with the lawfulness. There are no violations and they won’t be! Let’s now talk about the other. About honesty. It is important to underline, that NAIJAPAY doesn’t cheat or abuse anyone. In other words it is not a cheat or fraud in any case! Everyone is informed about the possible and impossible risks fully and from the very beginning (And everyone put a mark during the registration, confirming that he was informed about the warning.)’
This is what is available on the site, but the problem is many will not read it. As it is often said, facts are hidden in the books for people who are lazy to read. If only participants will read between the line, they will realized that the scheme is not the best available option to invest.
Millions of Nigerians are on the internet using their social media and have fallen prey of the promoters of scheme like Naijapay, a program that will end up like its predecessors.