Pocketnaira, a recently launched ponzi scheme promise investors 100% returns on investment with scanty back up on how it tends to improve on invested capital.
Investors are promised this bogus returns in less than 3 days and also assuring them that the system will last for a life time because it is operating on automatic recycling.
In real sense, no ponzi scheme or pyramid scheme can last forever because firstly,it is not a legalised financial institution meaning it does not have the support of the government and other financial related authorities. Secondly every participants of the scheme comes with a notion of hit and run because of several experiences from previous schemes. Thirdly to maintain a website cost millions of naira , which the administrators of the scheme don’t have, because if they have that kind of money they will invest in a more legal and profitable business.
The promoters of pocketnaira claims it is ”PocketNaira This is a community of individuals coming together to help one another, you donate an amount to a fellow participant and the system will assign two participants to donate to you, allowing you make 100% on your initial money.’
Just like many Ponzi schemes, this one offers different packages from the glass packages which is NGN10,000 to the silver package (NGN20,000), Bronze package (NGN30,000) and the silver (NGN50,000) with promise of 100% on all the packages.
“For every package you choose, you will be assigned a fellow participant to pay to; the assigning might not be immediate but we advice every participant to have their money ready before clicking on “make donation”. has various packages which you can choose from, the Glass package (₦10,000), Bronze (₦20,000), Silver package (₦50,000) and the Gold page (₦100,000 coming soon). For every package you choose, you will be assigned a fellow participant to pay to; the assigning might not be immediate but we advice every participant to have their money ready before clicking on “make donation”.”says the message on the website”.
There is no difference between this scheme and many others that has collapsed in the past three months. Investing in Pocketnaira will only put you in financial bondage not freedom as claimed by the promoters.
The domain of the scheme is also set to private which denies one access to vital information on its hosting and how long it was paid for to last.