Is this the way it will all end?

The get rich quick scheme is not native to Nigeria. Can we assume that the punishment for gullibility or greed would not skip the Nigerians that have thrown caution to the wind and want to reap where they haven’t sown. I don’t know and I don’t really care that much.

Just reading on BBC about the Ponzi scheme in Kenya and how some people have been cleaned out. Also, Central Bank of Nigeria just released a circular about the danger of the wonder banks but people are still pouring their hard earned money into this bottomless pits. I know some people will get paid but those who won’t will be the ones to suffer for this.

You can read the story here.

Author: Adedeji Olowe

Adédèjì is the founder of Lendsqr, the loan infrastructure fintech powering lenders at scale. Before this, he led Trium Limited, the corporate VC of the Coronation Group, which invested in Woven Finance, Sparkle Bank, Clane, and L1ght, amongst others. He has almost two decades of banking experience, including stints as the Divisional Head of Electronic Banking at Fidelity Bank Plc. He drove the turnaround of the bank’s digital business. He was previously responsible for United Bank for Africa Group’s payment card business across 19 countries. Alongside other industry veterans, he founded Open Banking Nigeria, the nonprofit driving the development and adoption of a common API standard for the Nigerian financial industry. Beyond open APIs, Adédèjì works deeply within the fintech ecosystem; he’s the board chairman at Paystack. Adédèjì is a renowned fintech pundit and has been blogging on technology and payments at dejiolowe.com since 2001.

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