NAICOM disowns trending Ponzi scheme, warns Nigerians


The National Insurance Commission (NAICOM) has dissociated itself from a Ponzi scheme, which was recently ascribed to it and is currently trending on the social media.

The NAICOM spokesman, Abdulrasaq Abdulsalami, said in a statement on yesterday in Lagos said the scheme, tagged “National Insurance Commission Newly Launched: Merging Automated’’, was a fraud.

“NAICOM’s attention has been drawn to the scheme and it has hereby disclaimed this group that is trending on social media.

“Members of the public are advised to ignore it; it is a fraud,’’ he said.

Mr Abdulsalami said that the Ponzi scheme floated in NAICOM’s name was currently trending on the social media.

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“It deceives members of the public, as it promises to double their donations in less than 25 minutes,’’ he added.

He added said that the scheme was also a contrivance, aimed at hoodwinking Nigerians to take the risk and get “instant payme



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