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Lesson 7

Money offers that are too good to be true

Investments, grants, giveaways and “doubling” schemes, and how to tell when an offer is a trap.

About 3 minutes

An older Nigerian woman in an indigo and gold adire outfit and gele, explaining with an open hand

If it sounds too good to be true, it is

Nobody gives free money to strangers. Real investments do not double your money in a week.

Scammers know that many people are struggling. So they offer quick help or quick profit.

Common offers

  • Investments: “Put in ₦50,000, collect ₦150,000 in 7 days.”
  • Grants: “The government has approved ₦200,000 for you. Pay ₦5,000 processing fee.”
  • Giveaways: “You have won a new phone. Just pay for delivery.”
  • Doubling schemes: early members are paid with new members’ money, until the whole thing collapses.
Grace Wealth Club Group, 214 members
Grace Wealth Club:

Good news! Our members are earning 200% in 7 days. Invest ₦50,000 today and collect ₦150,000 next week. Only 10 slots left!

6:30 am
Grace Wealth Club:

Mama Kemi: I collected ₦300,000 yesterday. God bless this club!

6:34 am
Big profit, fast, “only a few slots left”. These are all warning signs.

The warning signs

  • You must pay a fee before you can receive money. Real grants don’t charge.
  • Big profit, fast, with “no risk”.
  • “Only today” or “only a few slots left”.
  • Other people in the group say they got paid. They may be part of the scam.

Check before you pay

If someone at the market offered you a bag of rice for ₦500, you would ask, “What is wrong with it?” Ask the same question about money offers.

Talk to someone you trust, ideally someone who understands money. For a government programme, ask at your local government office in person.

If someone tells you not to tell your family, walk away.

Remember

  • Real grants and prizes never ask you to pay a fee first.
  • Nobody can promise to double your money quickly. That is a scam.
  • Talk to someone you trust before you pay for any offer.
Practise this Next lesson: Strangers who become “friends” online