Pyramid scheme guide Nigeria - Pyramid scams have wrecked a lot of havoc in the life of many residents of Nigeria. And so has advanced fee fraud popularly called 419.
Consequently, a lot of people are wary, even scared, when they hear of any pyramid scheme that promises to pay them huge amount of money for little or no work done.
On the other hand, there are thousands of people in Nigeria who are actively looking for the next ponzi scam (or ponzi scheme) to join.
One person actually said he likes to join a pyramid scheme because it pays like crazy in the early stages. And since he believes most ponzi scams usually last between 12-18 months before they collapse, his strategy is to get in early and get out early.
Obviously, there are thousands of people living in Nigeria who believe in this system of dealing with pyramid scams. Why do I say so?
Well, every time a new ponzi scheme comes to town, the word spreads like wild fire and thousands of people in Nigeria join pay large sums of money to join the program.
Yes, every time a pyramid scheme launches in Nigeria, it grows astronomically as people join in droves only for thousands to cry later when it crashes and they lose their money.
The unfortunate part is that when the pyramid business eventually fail, thousands of people lose their hard-earned money and the country is drenched in tears.
As you read this, you may be tempted to conclude that Nigerians fall for pyramid scams because Nigerians are greedy people.
However, before you reach that conclusion, be reminded that 'pyramid' is an English word. And it was coined in the English speaking countries of the world because millions of people in those countries fell for one ponzi scheme after another.
In fact, the longest running ponzi scheme in the world was by an American named Bernand Madoff. Wikipedia, the online encycopedia, calls this particular financial scam "the largest financial fraud in U.S. history".
Even today people still fall for 419 scams and pyramid business scams in developed economies of the world!
Yes, every country has its share of greedy people!
Greed can make a person fall for any scheme that promises to pay the individual loads of cash for little or no work, irrespective of the country the person lives or her country of origin.
The history of pyramid businesses in Nigeria has done more than wreck people's lives by taking away their hard earned money. It has also clouded the judgment of millions from seeing the difference between typical pyramid schemes and legitimate mlm businesses.
Here's the bottom line truth . . . most average people in Nigeria can't tell the difference between a genuine business opportunity and a ponzi scheme.
Yes, there are greedy people passionately looking for the next get-rich-quick scam to participate in. But most are just average non-business minded people looking for avenues to generate extra income to make ends meet.
This section of this premium Nigeria mlm network marketing website was designed to help these honest-hearted people looking for genuine mlm businesses avoid these scams by teaching them the difference between genuine network marketing businesses and pyramid schemes.
In simple words . . . this section answers the following questions:
2. How do legitimate mlm businesses work? and
Click the links above to get answers to these questions.