
Three million Nigerians lost N18bn to Ponzi schemes – SEC
Over three million Nigerians have lost about N18bn through Ponzi schemes, the Securities and Exchange Commission stated on Tuesday. Director-General, SEC, Lamido Yuguda, said this during a webinar organised by the commission. Ponzi schemes are fraudulent investing scams which generate returns for early investors with money taken from later investors. They are similar to pyramid […]