MBA Forex investment has come and gone, but there are many other scam or suspected-to-be-scam investment companies still peddling their ventures in Nigeria.
MBA Forex Capital investment might be the largest internet scam to have happened in Nigeria in recent times, but there are many others that have robbed and still robbing unsuspecting investors of their hard-earned money.
So, how do you identify these similar MBA Forex investment companies and websites, and which of them should you avoid?
Well, in this article, we’ll take a look at the overview of several investment schemes in Nigeria with scam tendencies and reasons why you should not consider investing with them.
Let’s jump right in.
Agrichainx claims to be Africa’s first global Blockchain, Internet of Things and Big Data enabled decentralized marketplace connecting farmers with traders, finance, tools and resources.
The company’s proposition is to facilitate smart farming for farmers, provide resources for agric networking and access to funding, and employ smart contracts for stakeholders to invest in agricultural projects.
Agrichainx utilizes its own cryptocurrency, Agricoin, for transactions on its platforms, which also provides access for investors to come in and capture value.
However, there are a few features of Agrichainx that make the company not seem legit. For example, the company plans to pay a life-time ROI for a one-time investment.
How do they want to even achieve that? That doesn’t sit right, and it definitely seems like a scam.
No legitimate investment would make such an unreasonable and unsustainable promise just to entice investors.
Even though Agrichainx has a good and holistic plan towards agric sustainability and farmers empowerment, there is no way to clearly see how the company plans to employ all these technologies, and how that would benefit the investors.
Maybe just a plan to make the whole scheme seem complicated and tech-inclined, and with big promises in order to entice gullible investors?
Zebra Fund is a Ponzi scheme in Nigeria that is presenting itself as an eCommerce opportunity.
For the naive and uninitiated, it looks good on the surface, but when you look beneath, Zebra Fund offers nothing more than robbing Peter to pay Paul.
According to their website, the company claims that its app is developed by Amazon, and also tried to front Amazon CEO, Jeff Bezos as a partner.
This is all a sham to hoodwink naive investors. Zebra Fund is not developed by Amazon, and has no relationship with Amazon or its founder, Jeff Bezos.
Any sensible person would know that the platform is run by Nigerians and that they are scammers, by the reason of their assertions and how the Zebra fund platform is designed.
From all indications, and without mincing words, Zebra Fund is a SCAM scheme designed to steal from you in one way or the other.
You could be scammed if you deposit money on the platform and Zebra Fund refuses to let you withdraw the imaginary earnings on your dashboard.
You could also be scammed if you play the fool and put your debit card details on your Zebra Fund account.
There is no other way this scheme plays out. You either lose or you lose.
It is a complete waste of time, money and effort, and I genuinely believe that only brain-dead individuals would fall for the Zebra Fund scam.
1Global first made its entrance into the market as a penny auction website which enables eCommerce buyers to bid on items.
However, in recent times, the company has launched an investment scheme which promises mouthwatering returns in the short-term.
1Global also has other business ventures integrated into the 1Global brand, such as bill payment and corporate partnerships.
To be honest, I’m quite sceptical about the legitimacy of 1Global investment.
Firstly, there is no clarity on how the investments are utilized and how investors would get back their funds.
Secondly, the investment plans are not well put together. The scheme seems like it is organized by some inexperienced group.
I’m strongly leaning towards the premise that 1Global might be an auction site turned into a scam hub.
But I don’t want to make any conclusions yet, because you can never be sure. Only time will tell.
Agx Farmlands Investment
Agx Farmlands Limited is a company based in Lagos, Nigeria. They claim to be Farmlands investment brokers.
According to their proposition, the company buys, sells, maintains, and runs Farmlands and farmland estates as direct investors and brokers.
So far, the company doesn’t look organized and might be a scam.
The information on their website is sketchy at best and looks like a company run by just one person.
There are no details on how investors’ funds will be utilized and no information about the performance of past projects.
By all indications, from available public data, Agx Farmland is proving to be a high-risk investment scheme and should be avoided at all costs.
La Buena Vida
La Buena Vida is a project created and managed by C21FG, a non-governmental organization (NGO) situated in Abuja, Nigeria. The project is termed ‘The Good Life’ project after the english translation of La Buena Vida which is a spanish word.
The company claims to be the first national cashflow, lifestyle, & housing platform in Nigeria with global partners in the health, construction, beauty, and lifestyle sectors. They also claim to have over 300k members nationwide and over 10 corporate partners.
La Buena Vida could be a scam MLM scheme due to suspicions when you consider their business structure.
An NGO that requires payment for membership and one that operates a multi-level marketing business which is designed to pursue profit is somehow suspicious.
Also, when you take a look at the La Buena Vida website, the information about their business and what they do is bogus at best. Their website is positioned as a marketing platform and does not say anything about what they do. So, the only information they have on their website are testimonials and bogus claims of making people multi-millionaires.
They also do not mention anything about members, but instead choose to call their affiliates “partners.” By tagging their members as “partners” of the NGO, La Buena Vida essentially justifies the membership fees paid by new entrants, which essentially means that members share the risks of any venture carried out by the company.
MBA Forex Investment Recreated
On a daily basis, new scam investment schemes similar to MBA Forex investment, are springing up with the aim of making money off people’s financial ignorance.
These scam investment schemes come in different form and with varying concepts. Some are in the form of Agri-tech investment with no real farms or farmer partners.
Others come in the form of MLM schemes with no actual products, just bogus claims and a lot of testimonials from fake participants.
MBA Forex capital investment scam may have come and gone, but you may want to look out for clones the next time you try to Invest your hard-earned money.