Capital Exchanger is a recently launched ponzi scheme in Nigeria with a vision of connecting People, Creating Wealth and doubling investments within 24 days.
Its promoters say it was created with a mission “to promote the greatest good, with a particular emphasis on helping man and the environment.
Virtually all ponzi schemes in Nigeria are said to have been created for philanthropic reasons which Capital Exchanger also claims to be. Once an investor decides to join the scheme, like every other ponzi program out there, you would be required to donate and expect a return with a given days.
Here is a statement on the site for individuals who decide to join Capital Exchanger. When you Join, you will need to donate the sum of either NGN5,000, NGN10,000, NGN20,000, NGN50,000 or NGN100,000 to a fellow member assigned by the system or your direct link, and the member will then confirm your donation and then the system will automatically assign 2 other registered people under you from spillovers who will also pay you the joining amount each, into your bank account, making 100% (i.e. 100% of NGN5,000 is NGN10,000, 100% of NGN10,000 is N2GN0,000 100% of NGN20,000 is NGN40,000 and 100% of NGN50,000 is NGN100,000 and 100% of NGN100,000 is N200,000).
The fact is that, in schemes such as this, money indeed exchange hands but may never return to some investors as the early birds and the administrators benefit more. Once they recoup their investments, they take off and leave the late comers stranded.
The idea is simple, they basically rob Peter to pay Paul. That is, your investment is used to pay others, vice versa but does not continue as the chain ends up breaking.
Capital Exchanger also claim it wants to help its member gain financial independence. In the last couple of months, ponzi schemes have sprung up with similar aim but end up leaving them helpless and lost. A serious scheme that wants you to be financially independent must have a transparent model which is not a feature of ponzi schemes.