THE SERVANT INVESTMENT

about 3 years ago (Edited)

Source
I live in a part of Nigeria where the average person is a public servant.

I'm talking no savings, no investment, paycheck to paycheck civil servant.

Those at the Federal level tend to have more money than those at the State and local government level. Theirs comes sooner but still ends up finished before the third week of the month. In anticipation of the next paycheck.

In this part of the country, people only depend on these salaries.

Until recently.

A co-operative scheme began a few years ago. It has an intriguing investment strategy.

A minimum investment of N50,000, with a monthly ROI of 25%.
There was a 6-month package where you could get your entire capital and interest back after 6 months. And another one for 12 months.

A lot of people have bought into this investment plan.
But it had way too many holes for me.

They started off soliciting for trust. Several noteworthy religious leaders got involved and encouraged their followers to do the same.
Other politicians got involved and encouraged a "diversification of funds".

The CEO of this co-operative keeps an open profile.
He was once a fraudster, he would say. He made a lot of money through internet scams until he stumbled on forex and began a trip through financial freedom.

His story also has holes.

It beats my understanding why over 50% of an entire state would place their money in the hands of someone who ought to be in EFCC's (Economic and Financial Crimes Commission) custody.

Over the last couple of months, I've been hearing rumours that the company, out of the blue, invented some new policies.

Not only will the 25% ROI be reduced to 10%, but there will also be situations where the company will withhold interests when they don't make any profit.

It hardly comes as a surprise to me, as I've had my fair share of investment troubles.

I'll share that story in a different post.

Haven made some money from the spike in Hive price some weeks ago, I have a conversation with one of these investors.

I urged this person to take out their money from the custody of these people and buy some cheap coins.

My pleas fell on deaf ears.

I got asked questions like:

How much am I getting back if I invest this amount of money?
How long would it take for my money to multiply?
What's the percentage of profit?

I consider these questions to be proof of a lack of trust in the system before even giving it a chance.

Explaining to this person that although an increase in their initial investment is certain, an exact prediction of when and how much they will be getting back is not entirely possible.

People perish from a lack of knowledge.
I was one, and I try in my little way to spread the gospel I have come to understand.

They want a fake contract and a fake promise.
They want certainty like their salaries.
They want to throw their money in, do nothing, make no research, and get their money back.
They just want it all to be easy.

That's exactly what brings this loss.

I anticipate a loss coming in soon for a lot of people involved in this scheme.
I only hope I have the patience to not scream " I told you so" when it happens.

The company also recently tightened their withdrawal process.
Getting your money out of their possession keeps getting harder as the days go by.

I'm still watching and waiting for the latest rumour.

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