Ponzi

Nigeria’s Deposit Insurance Corporation (NDIC) has issued a warning to bank depositors about the dangers of Ponzi schemes. Mr. Bello Hassan, the NDIC’s Managing Director, revealed this information. According to a press release from the fair’s organizers, he made the announcement while speaking at the Abuja International Trade Fair now taking place. “I would also like to serve a word of caution against patronizing unscrupulous services of Ponzi schemes and illegal fund managers, otherwise known as ‘wonder banks,’ who pose as deposit-taking institutions to defraud the public of their hard-earned funds,” said the NDIC MD, who was represented by the […]