3 Business Scams Nigerians Should Be Wary Of

It is no longer news that Nigeria is the den of Scammers, Dupe and fraudster who are popularly called “419”. Our youths have taken this act up as a career, and as a matter of fact the new generations are being recruited to this line. Since the new millennium, fraudsters have developed various means to defraud honest and innocent citizens.

Our list today will enlighten you more on the business angle which has become a strategy for these fraudsters to collect people’s money and abscond.

Buckle up your seat belts as I take you down this shady lane.

Forex Trading

nigerian scammers

Many Nigerians have lost huge amount of money trading online Forex. They have been made to believe that they can make money trading it but the reverse has been the case. You have to glue your eyes to your phone or computer waiting for the chart to move in your favour, studying senseless indicators and waiting for foolish news to come out before you can buy or sell. In the end it is not even sure if the trade will move in your favour while your heart keeps pounding.

Also not all these forex operators are licensed, some of them will take your capital and close down their fake websites.

Interest Rate Business

This type is mostly conducted by people who claim to be Russians/Eurpeans. What they do is tell you to bring a huge amount and invest with them. For example they can collect about 200k from you and at the end of the month; your money will yield a 30% interest, which (they claim) you can withdraw at any time. The thing about these people is that some are real but the risk behind it is that they pull out at any time without a prior notice. Which simpy means you can wake up on morning and all your money is gone!

Fake Online Retailers

Okay this one is tricky, No disrespect to the likes of Jumia, Konga n co. But Nigerians need to know that there are some fake online retailers who betray the trust of people that pay for goods online. A friend of mine ordered a dress from an online clothe store, she paid about 7k through her master card and wait for almost a month only to discover the agent that confirmed her payment no longer work for the firm, which means her money is gone and her payment is not recognized by the company.

The bottom line here is that you should really source about the business you want to venture in, dont just google them and assume the website is legit, do a secondary background checking on them.

You could kindly share this post and save someone the agony of falling victim.

Written By Enisan Daniel

Twitter: @dahnielz

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Daniel Enisan is a content writer at edliner.com. With a degree in mass communication, Daniel is a full breed journalist. Daniel is a realist, loves the use of sarcasm, a movie and music junkie. He is also a poet and a good listener.

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