Loom Money Nigeria: CBN don cut pipo warning about di 'Ajo' scheme
Central Bank of Nigeria say dem neva licence Loom service, wey be one new 'moni making scheme' for Nigeria.
Isaac Okorafor wey be CBN tok-tok pesin tell BBC Pidgin say "weda na Gloom or Loom or MMM or whateva, CBN neva licence am." "Na only di ones we don licence na im we fit tok about. We dey warn Nigerians any institution wey dey collect deposit wey CBN no give licence and NBSC no come insure di depositor, na jibiti dem dey oh!" Loom Money Nigeria na anoda 'get moni quick scheme' wey don enta Nigeria and dey operate like Ajo (contribution). Isaac Okorafo say CBN no sabi wetin be Loom One woman wey dey do Loom, madam Oyindamola, tell BBC Pidgin say she don use di scheme to make N16,000 from di N2000 wey she put inside. "My advice from time don be say make pipo no put plenti moni for di tin. Because if you put N100,000 for inside you sef go need to find di eight pipo wey go pay you back wen your own time don reach and dat one go hard well-well," she tok. Di way di scheme dey work na say one pesin wey don donate im own moni go come gada eight more pipo wey go give am di amount wey im don already put. Some Nigerians lose moni for MMM Madam Oyindamola say dis Loom no be like MMM because she sef no do MMM wen e bin dey. "Once you enta you go drop moni and you no go drop again till you collect your own moni from di eight pipo wey you add," she tok. Anoda female business woman madam Abiodun say Loom be like Ajo and na network business wey dey 100% and no be ponzi at all. She say: "E no dey easy to convince pipo to join am because of wetin MMM don take pipo eye see. But e depend on di type of pipo you get for your group and how fast you go fit get your moni." She follow tok how her friend cash out 800% back on two 13k deposit she bin do.