How to Recognise a Pyramid Scheme from Afar

July 25, 2022

Whether it’s weird forex academies or people who ask you to invest in hopes of getting double your capital, there’s one common thing about pyramid schemes: your money will suffer for it. This guide is to help you notice them from afar and hold on tight to your pocket.

They want to teach you how to make money

Think about it. Why would anyone want to do that?

But they want you to bring your own money first

It should be obvious at this point that these people are up to no good.

They want you to bring your friends and their money too

They’ll ask you to bring three people who’ll bring three people who’ll then bring three people. It can only be one of two things: witchcraft or a pyramid scheme. Run!

They use a lot of motivational quotes

They’ll bombard you with all these nice-sounding buzzwords like “abundance mindset” and “not limiting yourself”. This is just to get you dizzy on motivation till you drop your house rent.

The returns look fishy

If “30% interest after 4 weeks” doesn’t make you wonder if there’s some yoruba movie shenanigans going on, then you should at least be worried.


RELATED: 4 Nigerians on the Bad Spending Experiences They’ve Had


There’s always one person at the top

There’s always someone who seems to have done everything right and now makes a lot of money from the scheme. This is to keep the dream alive in your mind. 

Your friends join and try to sell you on it

This is most likely how you’ll find out about it in the first place. Just remember, if you do it, you’re their lunch money.

The business is looking somehow

If you can’t figure out what they actually do to make money, in a way that’s as simple as selling biscuit for ₦10, it’s probably a pyramid scheme. 

You’re wondering if it’s a business or a cult

They do usually give off cult vibes. Because why else would they ask you to recruit your family members?


ALSO READ: 6 Nigerians Share Their Experiences With Pyramid Schemes

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