Nospecto, Insight, Up Henry...

[dotunk]

Hi.

Am sure you must have heard about one if not all about these money making schemes. I thought it would be interesting to hear what what you guys think about it and to get to hear the experience of those already in these schemes.

These schemes give returns of between 3% - 12% of investment on a monthly basis. Too good to be true i hear you say but its the truth. The snag is your minimum investment is at least 450k. Am about to start myself.

So do you know of any other ones? please share it with us , and please include details of requirements.

Thanks

[Davy Dany]

Your post sounds really promising. I will look into my requirement and post you the nedds.

Thx in advance.

[dotunk]

hi everyone,

These schemes i talked about earlier couldnt get crazier.

I just heard about another on which is run in ibadan primarily. You drop some amount of money (i hear any amount you can afford), and you get tripple that amount in 6 weeks.

Crazy abi? Well i got in touch with someone whose friends are doing it an dthey just got paid this week... freaky.

Anyone with info on this?

[eriksbmw]

Hi !.....my view is that these are all Ponzi schemes that will all come crashing down one of these days.

Why don't the proprietors clearly state the source of these investment returns ? Are they investing in legitimate businesses?

Just my 2 kobo's worth.

[blackgeneral]

thanks eriksbmw. I agree with you. Whenever i hear of schemes where you make lots of money in little time and no effort, warning flags go up every where. Where are the government regulators? Dont we have a financial services regulator that should issue statements on such things?

[dotunk]

hi all.

why is it that we never hear of those companies being investigated at least by CBN, EFCC, ICPC or even financial regulators?

is it that there are no illegal practices going on in them or they are legal?

it beats me!

[jesusislord]

In PHC a similar scheme called UMANAH UMANH operated some ten years ago untill the then government closed it down by force. Lots of traders simply closed shop to 'invest' in UMAHAH UMANAH!

[Avocado]

Originally Posted by eriksbmw

Why don't the proprietors clearly state the source of these investment returns ? Are they investing in legitimate businesses?

Those're about the most important questions to ask about these schemes.
.

[Stockbear]

This is a recent article on the Proshare web site:

Proshare
High Risk Money Ventures
Posted Thursday, April 12, 2007


Visit www.proshareng.com for full details.

http://www.proshareng.com/myproshare...es.php?id=1001

There's also a wealth of information on so-called high risk business on Nairaland. The thread is titled Risky Business;

http://www.nairaland.com/nigeria/board-53.0.html

[eriksbmw]

Very glad to see that we are a sound bunch here !

[Miss_Risky]

Hi all,

I checked out the Nairaland threads and I'm honestly gobsmacked at how gullible people still are in spite of the wealth of information available to them. These are all obviously variations of pyramid schemes. In the end, it's the little guys or the last 'recruits' that pay the price.

@jesusislord, I'm sorry but I was wondering why anyone would even invest in a scheme called UMANAH UMANAH? With a name like that, I'd be scared to touch it with a ten foot barge pole!

All I can say is, I'm glad I found this site of like minded people.

[babs]

a friend told me of the risky biz while introducing him to the 9ja stock. decided 2 check it out and was amazed on my findings

thx all 4 yr inputs. I've already lost bunch of $$ on an ill-informed investment over here, i'm contended with my ROI of the stock markets.

[Royal]

Hi there all. I am a new member. stumbled into this gem of a site when trying to check the daily results of my stocks online. lovely site and lovely people. about the topic, kindly forget it, I lost money on some similar scheme (Umanah or whatever it was called) about 13 years ago in Benin. I was in the university then. small money by my standards now but the world to me then. taught me a lesson that I dont plan to forget anytime soon.
Just look to the NSE, something like Dangote Sugar could do that for you - and genuinely too. made quite a bit in it myself!
Regards to all

[Stockbear]

Nigeria: How to Identify Fake Finance Houses

How do you explain investing in a firm that is not properly licensed by the
Securities and Exchange Commission and yet offers you ridiculous returns
in stocks such that not even the best and he biggest licensed stock broking firm can ever think of making talk less of offering you? Abayomi Obabolujo, CRO, Stocks Watch Magazine.


I got really excited when I read the April 29, 2007 edition of Stocks Watch. The Chief Research Officer of the reputable stocks magazine, Abayomi Obabolujo, wrote an enlightening essay on how to identify fake finance houses. What really got me going was that most of the points he made seemed to correlate with what I highlighted in my write-up NOSPETCO: Trumpeted on the Aegis of Lack of Electricity. The message he was trying to pass across is so important, I have decided to replicate it here. Brace yourself; you are in danger of being a little more financial literate!

Excerpts from the essay; the real meaning of investment-II: Identifying Fake Finance Houses by Abayomi Obabolujo, CRO, Stocks Watch magazine

The System:

To my mind, the system to which your fund is being sent to create more of itself should be plain and simple to understand and not a kind of abracadabra that people and firms say they do to generate the kind of interests they offer. For example, when you give your money to a stock broker for investment purposes, you sure know it is for the stock of a specific company, whose business is well defined and proven. If your fund/deposit is in a bank, we all know what they do, including round tripping (when it was fashionable) and the excess charges, import and corporate financing and all the rest but how do you explain giving your money to an institution or someone who says he is into oil and gas without a proper license and yet offers

http://youngentreprenoirs.blogspot.c...e-finance.html

[Stockbear]

News Alert: Visit Proshare for full details - not a lot of it though!

NEWS ALERT – Investors in Private Oil Deals
Posted Friday, April 27, 2007

There is unconfirmed news that the EFCC via its NFI Unit has commenced investigations into the following schemes: Nospetco, Flagship, Sefteg, Wealth Zone, Wealth Solution, Treasureline and Greenmind.

http://www.proshareng.com/myproshare...ws.php?id=2279

[Stockbear]

We need to see the outcome of this, but this reprieve is good news for Nospecto and others.

EFCC removes block order on accounts of NOSPETCO & others
Posted Thursday, May 3, 2007

The FIU branch of the Economic & Financial Crimes Commission has now reversed its earlier instructions to banks to stop all transactions on the accounts of the 'Oil Deal' companies operating in the country pending the conclusions of its 'monitoring' of the activities of this concerns.

http://www.proshareng.com/myproshare...ws.php?id=2299

[Lidris]

I think this is not real, my brother in law got involved and has not received his original investment talk less of profit trade carefully.