NU MUSIK: KNOW JOY – iCHAIN
Nigerian rapper singer & song writer coming from imo state who goes by the name… I-CHAIN is back with a new jam titled KNOW JOY… check it out? Enjoy…
muzik… mAdE t.V!
NU VIDEO: SAINT-TROPEZ – POST MALONE
Post Malone follows up his newly released album, “Hollywood’s Bleeding,” with a visual for his single, “Saint-Tropez” – a standout cut off the project.
THE SECURITY EXCHANGE COMMISSION WARN NIGERIANS TO STAY AWAY FROM LOOM
he Securities and Exchange Commission has sternly warned Nigerians against participating in the trending online investment scheme tagged “Loom Money Nigeria.’’
The warning was given by Mary Uduk, acting director-general of the commission, at a news conference in Abuja on Thursday.
According to Efe Ebelo, SEC’s head of media, Uduk, who was represented by Isyaku Tilde, acting executive commissioner, operations of SEC, said Loom Money Nigeria had taken over the social media.
The director-general revealed further that the scheme tried to get young people to participate in this pyramid model of the Ponzi and that those behind it “carry out their illegitimate activities” via social media platforms like Facebook and WhatsApp.
A Ponzi scheme is an investment fraud that involves the paying returns to existing investors using from funds contributed by new investors.
The scheme lures young people to invest as low as N1,000 and N13,000 and to get as much as eight times the value of the investment in 48 hours.
“We are aware of the activities of an online investment scheme tagged ‘Loom Money Nigeria’. The platform has embarked on an aggressive online media campaign on Facebook and WhatsApp,” she said.
“They lure the investing public to participate by joining various Loom WhatsApp groups to invest as low as N1,000 and N13,000 and get as much as eight times the value of the investment in 48 hours.
“Unlike MMM that had a website and the promoter known, the people promoting Loom are not yet known and this pyramid scheme operates through closed groups mainly on Facebook and WhatsApp.
“If it were a local Ponzi scheme with known offices, it would be very easy for the Commission to seal their offices and freeze their accounts.
“We therefore wish to notify the investing public that the operation of this investment scheme has no tangible business model hence it’s a Ponzi scheme, where returns are paid from other people’s invested sum.
“Also, its operation is not registered by the Commission.”
As a result, Uduk warned Nigerians to stay far away from the scheme, else they do so at their own risk.
She said an inter-agency committee, financial services regulation coordinating committee, was working on the issue, and that the commission was also collaborating with security agencies to track them down.
Interestingly, Nigeria isn’t the only country where Loom Pyramid Scheme exists — In the UK for instance, there were reports last month that the scheme resurfaced online all over the world, with different names such as ‘loom circle’, ‘fractal mandala’ and ‘blessing loom.’
However in Nigeria, its central name is Loom Money Nigeria but individuals create their own groups such as Amaka Loom, Bode Loom on WhatsApp. Giztzzz… mAdE t.V!
NU VIDEO: PRESIDENTIAL – BIRDMAN & JACQUEES
Check out the official music video by Birdman & Jacquees performing the song “Presidential”. The track showcases their signature styles over solid production making it a lavish track. Check it out below…
MAC MILLER AUTOPSY REVEALED: FENTANYL, COCAINE, ALCOHOL OVERDOSE!
Mac Miller’s untimely death caught us all by surprise in September. All we knew is that he died from a drug overdose, up until now.
UPDATE: POLICE ARREST MORE OFFA BANK ROBBERY SUSPECTS…
According to police, circulation of photos of the Offa Bank Robbers in the Media, has helped a lot in getting several credible leads from good citizens and as a result.
BIZARRE: RITUALISTS RELEASE ABDUCTED VICTIM AFTER 5 DAYS…
It was a situation of answered prayers for Miss Maranatha Innocent as she was released by suspected ritual killers who kidnapped her along Katsina Ala Street, Makurdi, Benue State after she spent five days in captivity.
HOT VIDEO: HOT SAUCE – YOUNG M.A.
M.A. drops a little flavor in your ear with the visual for her new single Hot Sauce. The U.S rapper and her crew crash the strip club with plenty Henny and money to spend on the voluptuous dancers… Check it out below…
HOT VIDEO: TIME TICKING – JUELZ SANTANA FEAT. DAVE WEST,ROWDY REBEL & BOBBY SHMURDA
Juelz Santana recently teamed up with Dave East, Bobby Shmurda, and Rowdy Rebel for the explosive hit “Time Ticking”.
BIZARRE: NIGERIAN PASTOR WHO USE CHARMS TO SLEEP WITH CHURCH MEMBERS…
A Nigerian Benin-based Pastor who according to claims, uses ‘juju’ (charm) to sleep with his members, was tied up by residents of Ogogugbo, Benin City Nigeria after he was caught having s*x with one of his members.