Just last week, some dudes came to my office to offer the ever enticing money doubling schemes. I don’t think am being fair in calling Pennywise money doubling or S’ogun D’ogoji because man, Pennywise is something else!
This is how it works. You give them a paltry N2,500 for a slot and over a period of 9 weeks, the scheme will pay out a cumulative of N251,390. Effectively, you multiply any amount you put inside by 100 in 9 weeks. Interesting!
What if I decide to invest just N250K back? Further still, or what happens if I decide to roll over my investment every 9 weeks for a period of 1 year?
With my MS Excel, this is what I get:
Week | Naira | Dollars |
0 | 2,500.00 | 19.23 |
9 | 250,000.00 | 1,923.08 |
18 | 25,000,000.00 | 192,307.69 |
27 | 2,500,000,000.00 | 19,230,769.23 |
36 | 250,000,000,000.00 | 1,923,076,923.08 |
45 | 25,000,000,000,000.00 | 192,307,692,307.69 |
54 | 2,500,000,000,000,000.00 | 19,230,769,230,769.20 |
So with my humble N2,500 in January 1, I could, by second week of January the next year, be worth over $19 trillion, isn’t that wonderful?
Yeah, this is Pennywise!
Discover more from Adedeji Olowe
Subscribe to get the latest posts sent to your email.
This was actually Penny n Pound dumb