Early this year 2016, Mavrodi Mondial Moneybox popularly known as MMM stormed Nigeria economy with their popular 30% ROI (return on investment). A lot of people doubted this, until many participants started telling their life changing stories . That notwithstanding, many economic analysts have speculated the crash of this ponzi scheme sooner or later. They are on the thought that the scheme impacts negatively on the economy, hence not productive. That a stage will reach were enough money will not be available to pay the 30% arrears promised. Consequently, causing the collapse of the system.
Meanwhile, a scheme known as Zarfund have also found its way into the country. This new scheme which operates with bitcoin started operation mid August. According to the terms and conditions of the programme, N23,000. N70,000. 280,000. N1.12Million, N11.2Million, N44.8Million will be earned be a member after each of the levels respectively (level 1 – 6). According to the report released by Zarfund company today, Nigeria recorded the highest participant in the Zarfund program. 58,562 Nigerians are currently participating in Zarfund while the second country is South Africa with 19,322 total members. A total of 10,623.2BTC have been donated in the system. However, the current highest earner in the system have earned 34.43BTC. This is equivalent to N11.48Million