Speaker 1: Hey, folks, welcome, good evening to another money space with
Speaker 1: me caylu Wager. Of course, on this space we're talking money,
Speaker 1: the economy, and finance. We're here every Sunday bringing those
Speaker 1: topics that make sense to you in a way that
Speaker 1: you can apply them and become a better investor. And
Speaker 1: what a week we have, guys. This week we have
Speaker 1: to go back, sadly and talk again about Ponzi and
Speaker 1: pyramid schemes. We've done this before, We've given all the flags,
Speaker 1: but I think folks keep on falling for this. So
Speaker 1: let me just separate the whit from the chaff. Right,
Speaker 1: this space is for those folks that are genuinely not
Speaker 1: able to decipher what a Ponzi scheme is and what
Speaker 1: a pyramid scheme is and keep on maybe falling to
Speaker 1: the traps of these unscrupulous promoters. That's what this space
Speaker 1: is for. There's nely a space for if you know
Speaker 1: what it is and you want to sort of game
Speaker 1: the system. You want to invest money in a in
Speaker 1: a world that you know is lost funds, but you're
Speaker 1: hoping to reclaim your funds before the whole scheme blows up.
Speaker 1: This is not for you, right, you are driven by greed.
Speaker 1: We tried, we're trying now to reach out to the
Speaker 1: folks that unfortunately are driven by lack of understanding of
Speaker 1: how the market works. That's what this particle of space is,
Speaker 1: and a other folks that want to reach out to today.
Speaker 1: So of course I've had the news. Another one has fallen.
Speaker 1: And I'm not going to call the name of the
Speaker 1: of the of the point of scheme itself, but again
Speaker 1: someone else has promoted an investment that has turned out
Speaker 1: not to be what it was purported to be. It
Speaker 1: is the same story. Someone comes out and says, if
Speaker 1: you invest with me, you can get double triple your
Speaker 1: funds in a week, in a month, one hundred percent,
Speaker 1: fifty percent. And people go and invest, and they get paid.
Speaker 1: That's the problem. They get paid, and they stay there,
Speaker 1: and after a while they believe that listen, this is real,
Speaker 1: or they build they made their principal back. So they
Speaker 1: keep on staying, and they keep on recruiting their friends
Speaker 1: to join the scheme. This is where it gets wild,
Speaker 1: because no points scheme exists without the folk that are
Speaker 1: already invested, if you could call it that word, going
Speaker 1: back to tell their friends to come out and put
Speaker 1: their funds in the scheme. That's why pond the schemes
Speaker 1: are so should we say so deadly because it's marketed
Speaker 1: thrue word of mouth, and the most effective form of
Speaker 1: advertising is word of mouth. So if I tell you,
Speaker 1: or if if if a TV ad says invest in
Speaker 1: x y z, that's fine, it's a TV ad. But
Speaker 1: when your friend tells you invest in x y z
Speaker 1: and you will get ten percent. Because I invested in
Speaker 1: x y Z and I got ten percent, you are
Speaker 1: more likely to invest. And that's why it grows exponentiously.
Speaker 1: And then of course in the end everybody cries, so
Speaker 1: oliminates here as well. Let me just run through a
Speaker 1: few of the things, a few of the red flags
Speaker 1: that you want to watch out for. I was also
Speaker 1: gonna bring Oliminated into top really about this, we just
Speaker 1: want to This is more like public service twite money space,
Speaker 1: So just maybe you don't know, let me just see
Speaker 1: if I can run through them again. And I did
Speaker 1: share this tweet. I take an hour ago on the
Speaker 1: whole Ponzi schemes, the red flags you want to watch
Speaker 1: out for. So I'm just gonna talk. If you have
Speaker 1: a question, please request to speak. I'll add you you
Speaker 1: can ask you a question. We've got a few guys
Speaker 1: that I can take those questions for you. So I
Speaker 1: mean Charles Ponzi was the original guy that invented Ponzi schemes,
Speaker 1: not invented, but he immediately a big thing before he
Speaker 1: came to a guy's doing the same schemes Ponzi schemes
Speaker 1: I essentially we'll call pyramid schemes. And you can see
Speaker 1: why it's called the pyramid. There's the top and there's
Speaker 1: the bottom. The guy's at the bottom right from the base,
Speaker 1: and you are told to go bring two people. And
Speaker 1: when you bring to people, you make a certain amount
Speaker 1: of money or you make you rise up in the pyramids.
Speaker 1: So the more you bring, the more you rise up
Speaker 1: in that pyramid, the more you make money that pyramid.
Speaker 1: That's one way of exploiting greed and ignorance, right, But
Speaker 1: the most common one is the point wellness of police scheme.
Speaker 1: The original scheme was he was selling post the stamps.
Speaker 1: He taught if you buy postage stamps in America, it
Speaker 1: was cheaper in America than the country that I used
Speaker 1: those stamps. But this was before the internet. So if
Speaker 1: you have to post a letter to Nigeria. You would
Speaker 1: go buy a worldwide stamp in the US. But he
Speaker 1: found that those stamps in Nigeria, for instance, if there
Speaker 1: is an example, we're cheaper than the US. So there
Speaker 1: was an arbitrage opportunity. So it was a real opportunity
Speaker 1: that he exploited. It was a real opportunity. He said, listen,
Speaker 1: if you buy those stamps in the US and you
Speaker 1: sell them abroad, you make a profit. Fine, But the
Speaker 1: problem was he then raised a lot of money over
Speaker 1: something that was real, and the returns, of course didn't
Speaker 1: now come from the real investment option, but from the
Speaker 1: funds that he had raised and was simply using new
Speaker 1: money to pay off old obligation. Does that sound familiar?
Speaker 1: Pony s claims are always based on real financial or
Speaker 1: investment or opportunity. There's no one that's gonna come and
Speaker 1: tell you, come and invest. I won't go to the Moon,
Speaker 1: I won't go to Mars. No, they will always tell
Speaker 1: you what is actually real and actually working in the
Speaker 1: real space. But what did then't offer you is much
Speaker 1: much higher. So Charles Ponzi, if he had run that
Speaker 1: stamp deal, he wouldn't have made five percent, but because
Speaker 1: he was now trying to get more money, he said, okay,
Speaker 1: I'll give you forty five percent. I'll give you fifty percent.
Speaker 1: I mean in forty five days and one hundred percent
Speaker 1: in ninety days. That's the Ponzy because there's no investment
Speaker 1: I can give that to you. So when you pay him,
Speaker 1: he takes your money and it simply pays off the guys.
Speaker 1: I won't take their money. But look at this human psychology.
Speaker 1: The first time, guys go in there and give Charles
Speaker 1: Ponzie ten dollars, Charles Ponzi gives them no, five dollars.
Speaker 1: Oh wow, this is interesting. They give him back five
Speaker 1: dollars to give them under five dollars. They made their
Speaker 1: principle back. So psychologically they've made their principal back. So
Speaker 1: what's there to lose. Just stay with him. So they
Speaker 1: leave their principal, leave their interest with Charles Ponzi, and
Speaker 1: then tell the other friends, Hey, come on invest, come
Speaker 1: on invest. This thing is actually working. And of course
Speaker 1: you don't have this spiral. Just base just keeps on growing.
Speaker 1: Folks going and invest. Ponzy scheams don't die because the
Speaker 1: model is just self perpetuating. It's only when they run
Speaker 1: out of investors that it all comes crashing down. You
Speaker 1: go to and you say, oh my money, will give
Speaker 1: your money. There's always a new soccer in code that's
Speaker 1: coming and that's the whole idea. So number one thing,
Speaker 1: let just go straight to it. In Nigeria, you never invest.
Speaker 1: You never give anybody your money to invest. We talk
Speaker 1: about securities now, not the private arrangement, not the business arrangement,
Speaker 1: not that you want to invest in, say a restaurant. No.
Speaker 1: If it all comes to you and says I want
Speaker 1: to sell you a security, I want to sell you
Speaker 1: an investment option. And that security does not have a
Speaker 1: sex license, SEC Secreity and Exchange Commission license, you do
Speaker 1: not invest. Does it mean that all second investments are
Speaker 1: going to make your money. No, But once they do
Speaker 1: not have a sex license, just stop there and move away.
Speaker 1: Don't start to ask questions, don't start to say okay, no, no, no.
Speaker 1: Once you don't you don't have a sex license, you leave.
Speaker 1: And it's not just the SEC license on the corporation.
Speaker 1: The corporation and the product both have to have a
Speaker 1: sex license. So if x y Z is selling x
Speaker 1: y Z product. Both x y Z and x y
Speaker 1: Z product have got to be sex approved. If you
Speaker 1: see the words guarantee and the words trading together in
Speaker 1: any investment it's fraudulent. I don't care who gave it
Speaker 1: to you, I don't care where you saw it. Once
Speaker 1: you see the words trading and the words guaranteed together
Speaker 1: in any investment product, it's fraudulent. If you see the
Speaker 1: words guaranteed in any investment product is a red flag
Speaker 1: because no real investor would ever give you a guarantee
Speaker 1: when you are investing. It's not possible. So the word
Speaker 1: guarantees your red flag. The work guarantee and trading simply
Speaker 1: means just run away. Right. This is a very very
Speaker 1: simple than You don't have to have a cop to
Speaker 1: follow what I was talking about. Right now. If someone
Speaker 1: tells you, if you give me money, I will give
Speaker 1: you a fixed return, no matter what they call it,
Speaker 1: you are buying a bond. So so on says, hey
Speaker 1: give me ten ten to narr and I'm going to
Speaker 1: give you ten percent. Once they quote a percent, they're
Speaker 1: going to give you no matter what they call it.
Speaker 1: You are buying a bond. When you do fix departs
Speaker 1: is that just a bond that is maturing less than
Speaker 1: a year, So we call it a friend in money market.
Speaker 1: But essentially you are buying a bond. So letter call
Speaker 1: it crypto trading, binary options, agriculture, buy a pig and
Speaker 1: get fifteen percent. Once they quote a percent to you,
Speaker 1: you are buying a bond. So if you're buying a bond,
Speaker 1: what do you want to ask the guy? How are
Speaker 1: you going to pay me back? Waste the sinking fund?
Speaker 1: So if you notice, when you buy bonds from the
Speaker 1: federal governmental, from the bank, they'll tell you we have
Speaker 1: a sinking pond. We miss there's money set aside to
Speaker 1: pay you. Just one tells you, oh, invest in me.
Speaker 1: I'm going to give you fifteen percent percent. That's a bond.
Speaker 1: Doesn't matter whether it's four x, it doesn't matter what
Speaker 1: it is, agriculture or crypto. It's a bond. So weere's
Speaker 1: the sinking fun Like a stable coin in crypto cryptos
Speaker 1: have the balance sheet or the deposit that back up
Speaker 1: the stable coins. That's the whole idea, right, and again,
Speaker 1: what's your ankle? If you hear I'm going to give
Speaker 1: you one hundred percent, always ask yourself what's the risk
Speaker 1: free rate in Nigera the risk per rate today which
Speaker 1: is from the MPR, it's about maybe twenty one twenty
Speaker 1: two percent. That means that in the Federal Government of
Speaker 1: Nigeria wants to borrow money, they will borrow at twenty
Speaker 1: one twenty two percent. That's your ankle. So one stones
Speaker 1: has to go far away from that ankle, red flag,
Speaker 1: red flag red flags. So one's offering you one hundred percent,
Speaker 1: that's too far from twenty five percent. If one is
Speaker 1: offering you ten ten percent, that's okay, it's no, it's
Speaker 1: within that twenty five percent reach. That's the risk periods. Yeah,
Speaker 1: within that twenty five percent riache. You can't take anyone
Speaker 1: offering you fifty percent or one hundred percent. Seriously, it's
Speaker 1: too far on your investment return right. There is also
Speaker 1: no investment no insurance, I mean for investment losses. So
Speaker 1: when you see the agriculture guy is telling you if
Speaker 1: you invest in a farm, if you lose money, we
Speaker 1: are insured. It's not true. The farm is insured, but
Speaker 1: your investment is not insured. There is no investment or
Speaker 1: insurance that covers losses from investment, none at all. Then
Speaker 1: what should you also do? When you won't invest in
Speaker 1: any corporation anywhere. Write a check. I know when the
Speaker 1: digital ageay does transfer money. Try to write a check.
Speaker 1: A check creates I don't going to it creates more
Speaker 1: claim if I can use that way on that organization.
Speaker 1: So if ever they find these guys that have duped you,
Speaker 1: there's going to be a registre of folks that have
Speaker 1: investment money in there are going to pay you back.
Speaker 1: If you have a check, deposit or a transfer, you
Speaker 1: get paid, but make sure there's a paper trail to
Speaker 1: show that money left you to that company, which means
Speaker 1: you never ever invest to a cash because cash. If
Speaker 1: you give them cash, they give you a receipt. There's
Speaker 1: no way you should that cash is your cash, it's
Speaker 1: just their receipt. But when you do a check, your
Speaker 1: bank is going to be debited by their bank. So
Speaker 1: you have that proof in your bank. Even if you
Speaker 1: lose your check, you have that proof, right, So try
Speaker 1: to pay with a check. And of course we've also
Speaker 1: shared this this sec website link that you can go
Speaker 1: into and pull that link. What s secret dot god
Speaker 1: dot eng slash c mus put in another company that
Speaker 1: it will tell you what in that company is or
Speaker 1: not guys less than eight points for you to just cram.
Speaker 1: If you follow this eight points, you won't lose your money.
Speaker 1: I'm not saying you make money, but you will lose
Speaker 1: your money if you don't invest in folks are not
Speaker 1: SEC registered. You do all these other tricks you watch.
Speaker 1: Don't be greedy. If it's one hundred percent, it's too
Speaker 1: far from MPI, you run away. If they are often
Speaker 1: you're granted returnings a bond. Ask them questions. You will
Speaker 1: do this, you will lose money. Don't be too greedy
Speaker 1: or live the what have I missed outing? I've given
Speaker 1: about it? What have I missed out? That folks should
Speaker 1: listen and follow them? And what you.
Speaker 2: Meant and actual fact I was just like our sharing
Speaker 2: deeper context of the articles I wrote on a metrics
Speaker 2: last week.
Speaker 1: I was just like you think.
Speaker 2: I was working for the SEC commit and that was
Speaker 2: because of the endemic problem in our society in terms
Speaker 2: of misinformation, ignorance, arrogance, and the fact that many.
Speaker 1: Of us refused to learn. You see.
Speaker 2: The you know you said everything, the methology, the historicals,
Speaker 2: things to look for.
Speaker 1: These things have been as old as.
Speaker 2: This system itself, but it's unfortunately that many of.
Speaker 1: Us keep falling for the same keep trap.
Speaker 2: And the conversation is why, you know, so Calu, I
Speaker 2: wrote stories about it because I understood the fact on
Speaker 2: social media that many Nigeria's don't even understand the constudients
Speaker 2: and the ompires in the investment industry. So you know,
Speaker 2: I didn't even know about this about this point that
Speaker 2: really yet that I did know until it's on the news,
Speaker 2: because none of my prayers, just by the fact that
Speaker 2: there have a lot of people, for example, in a
Speaker 2: book about it, so many friends, so I was supposed
Speaker 2: like where is it coming from? And I tried to
Speaker 2: understand the story, and I figured out that it was
Speaker 2: not just Nigeria care other countries because I also wrote
Speaker 2: the story on foreign media and I found out that
Speaker 2: a lot of foreigners also had issues.
Speaker 1: So the context is that the amount.
Speaker 2: Stole in first, it's desputable because.
Speaker 1: Where the money went towards andward it outward. It zip
Speaker 1: means all that all that online.
Speaker 2: On the internet, and it belonged to try exchange. So
Speaker 2: it was pretty much quite difficult to ascertain amount. But
Speaker 2: radically millions of dollars from the nine Geran units were
Speaker 2: clost and the question is why why in terms of
Speaker 2: the fact that it's supposed to become this week, the
Speaker 2: opportunities in.
Speaker 1: Our capital market.
Speaker 2: So there were there were three scenarios. Deception, I was
Speaker 2: speaking of deception.
Speaker 1: Then ignorance and Aarican's part reception was that you know,
Speaker 1: people feel that.
Speaker 2: Because I s to guess today, I saw impostory.
Speaker 1: And the point play was like how.
Speaker 2: He and how SCC had the copy of first commission
Speaker 2: restriction was just to deceive a lot of Nigerians. And
Speaker 2: I put back to guys because a company house e
Speaker 2: FCC my laundry restriction, which I as.
Speaker 1: Your kid or since does not necessarily.
Speaker 2: Mean that the investment satisfied. I brought the conversation. I
Speaker 2: slept over by the middle of the night. I saw
Speaker 2: a lot of controversies that ah, yes programming, and I
Speaker 2: was like, that is why we keep following the same track,
Speaker 2: because you don't even understand the cost of the investment community.
Speaker 2: If you look at Nigeria and you look at the
Speaker 2: netizy for example, Nigeria e spec is like the alpha.
Speaker 2: The investment community in the American committees is not like that.
Speaker 2: Because we have CTC.
Speaker 1: Then we have SEC. Then we have other sides.
Speaker 2: Under the US FAD for example the ones that.
Speaker 1: US the banks the payment license different you know. But
Speaker 1: in Nigeria.
Speaker 2: Basically we focus on the true mediums, the CBRE and
Speaker 2: the secret Commission. Some Nigers were saying that okay, course,
Speaker 2: for example, fare Money was offering interest rate products, why
Speaker 2: don't they have set lincees And I was like, see,
Speaker 2: you need to understand with a banking product, a products
Speaker 2: and an investment product. So first of all, there was
Speaker 2: a problem with that pad. So you could see that
Speaker 2: when you don't even understand how to differentiate it needed
Speaker 2: to for you to campaign. You also need to understand
Speaker 2: that have been registered on that the copy of vest
Speaker 2: Commission does not mean that you are legally.
Speaker 1: Accepted in the investment community.
Speaker 2: And also because you have the set lines doesn't mean
Speaker 2: an engel. And I give examples that it will be
Speaker 2: just this that happens to be the most compliants and
Speaker 2: efficient market lactual market in the world. We've seen cases
Speaker 2: where sacred with their firms commit their crimes. But I said,
Speaker 2: the advantage is that you have some form of protection because.
Speaker 1: If things go wrong, you can fight it.
Speaker 2: Out with sex or the government and they can also
Speaker 2: how those people accountable.
Speaker 1: Like this case now we don't even know the.
Speaker 2: Major actors despite the fact that it was registered. It's
Speaker 2: more probably they used in skille goods as a porn
Speaker 2: to register the office or something, which you know, it's
Speaker 2: most likely that do not get their money because they
Speaker 2: used the exchange, they used the crypto and from Keeper Forensics, the.
Speaker 1: Report is that he came from Asia. So so you're
Speaker 1: saying the Nigerian was just the window to collect money
Speaker 1: from Nigerian Nigeria.
Speaker 2: Yeah, Gargies was not to be just like yeah, because
Speaker 2: even if you look at the case of also the
Speaker 2: context is that doing Promer had a fair government when
Speaker 2: I was like, oh that the faire government that got better.
Speaker 2: You start, first of all, I think financial incuracy is
Speaker 2: at all time, even among financial professionals as well. Arguing
Speaker 2: on this piece, yeah, as long as Yeah, so it's
Speaker 2: it's very humiliating when you know that people that you
Speaker 2: expect no better don't even understudy physics, so.
Speaker 1: You understand why scams goals come to play. So that's that's.
Speaker 2: Why I said rogas because when you know you don't know,
Speaker 2: I refuse to learn. The narrogans take the greater rules.
Speaker 2: So when people say greed, when people say provert years, yes,
Speaker 2: but people that are invested forty thousand dollars hun thousand dollars,
Speaker 2: they are not poor people. And it's very unfortunate that
Speaker 2: in the Nigerian context, if you have thirty forty fifty,
Speaker 2: you're in the upper middle class at least if we are.
Speaker 1: Not in the one percent.
Speaker 2: So I expect that you have structural financial arrangement inform
Speaker 2: of an investment banker, the financial advisor, someone that works
Speaker 2: in the reputable that will give you forensic advice.
Speaker 1: You know.
Speaker 2: And I've always given the moaning that you need to
Speaker 2: understand that the financial industry is very regulated because somebody
Speaker 2: has to financial education does not making a real good.
Speaker 1: The financial advisor use not that talking.
Speaker 2: Why I'm talking to say that this is my vest
Speaker 2: that because we are not authorized to.
Speaker 1: Offer investment to the public. Simple, So you need to
Speaker 1: understand that.
Speaker 2: The financial industry is heavy.
Speaker 1: Sins.
Speaker 2: It'sive in terms of investments for the public, but a
Speaker 2: lot of people take it forgot.
Speaker 1: So people will come to that or what's talking to you.
Speaker 2: By hopfully when you're talking to an audio. We want
Speaker 2: to when you ignore the everything that you don't want
Speaker 2: to help them when they don't understand that these lat
Speaker 2: froms that it's so we need to understand.
Speaker 1: The business and very so, just just walk us through
Speaker 1: for the guys listeners, very not investment professionals. Walk me
Speaker 1: through SEC license, e f C C license and c
Speaker 1: AC license. If I go to a I mean, if
Speaker 1: I go to a store and I see c AC
Speaker 1: license and they're asking me to buy shares, should I
Speaker 1: buy yes or no? No?
Speaker 2: So how we explain to you so that for people
Speaker 2: to understand, because it seems that.
Speaker 1: Financial jargon woods are.
Speaker 2: Like dragons in guys or in the years of many.
Speaker 2: So let's say in your spicture, for example, now we
Speaker 2: have the pharmacists, we have the micropologists, we have the doctor.
Speaker 1: Now you have typhoons.
Speaker 2: We have naturally in micropologists will tell you that you
Speaker 2: have SOMEONELLA type without even without test you. Once he
Speaker 2: knows that you have there without any who does like
Speaker 2: he knows someone and he knows that for you to
Speaker 2: treat that you need antibiotics. Right, he knows that you're
Speaker 2: someone that is taken in this morning.
Speaker 1: Test time but it is not allowed by law to
Speaker 1: diagonals is the work of the doctor. Now here's the
Speaker 1: reason for that.
Speaker 2: Now, if you've got to the pharmacists, for example, the
Speaker 2: pharmacist knows the drug you should take, even when you
Speaker 2: mentioned typhoon and yes you guys weren't going for tests.
Speaker 1: But by law is not allowed to diable nice.
Speaker 2: It's just to provide your drugs to you.
Speaker 1: That's the law.
Speaker 2: And the reason that was that they understand that there
Speaker 2: are other circumstances that can monos be typhoed and it
Speaker 2: might be secondary reaction on things like beyond typho to
Speaker 2: the doctor.
Speaker 1: Plays in key word the same thing. In the investment world,
Speaker 1: you know the CBN because you're a bank.
Speaker 2: For example, I mentioned that you're start bigger a GT
Speaker 2: most you are coming to the investment world, you need
Speaker 2: the set liences.
Speaker 1: That's why you see when g is saying they're mutual
Speaker 1: forms or UP or GITT that you see.
Speaker 2: The banks, they will tell you that this is regulated
Speaker 2: by the.
Speaker 1: Security Achieve Commission.
Speaker 2: Any fund manager that is working in the bank miss
Speaker 2: despite the fact that it has CBN. So you need
Speaker 2: to understand that every license has.
Speaker 1: Turradition and their own fundy. The work of the CNC
Speaker 1: is just to register an entity. People have more questions.
Speaker 1: So number one, if I go to the investment house
Speaker 1: in quote and they only have CEC, don't buy the ash.
Speaker 1: Don't buy shares that have been offered to the public. Okay.
Speaker 1: So that means that means they're legally registered in Nigeria,
Speaker 1: but they're not legally registered to issue or sell or
Speaker 1: market securities. Correct that? Okay? Yeah, okay, So let's look
Speaker 1: at the second one. If I go to the investment
Speaker 1: house in quote, they have CEC and they have e
Speaker 1: f CS. You know, is the one that tracks money laundering,
Speaker 1: the track if you're a bad guy. So now these
Speaker 1: guys have got c a C, they have money laundering certificate.
Speaker 1: They are selling shares to the public. If they are bad,
Speaker 1: will not give them license? Should I invest?
Speaker 2: It's a function of knowledge.
Speaker 1: What's the rule of the SEC.
Speaker 2: If you understand the clays or you understand the invstriction,
Speaker 2: it's more about winds and drew and just to ensure
Speaker 2: that that entity is not a security bred they have
Speaker 2: you to functionalize by investment. When you look at the
Speaker 2: conflagration of the SEC's made of enforcement officers and lawyers
Speaker 2: that work in the terms of the security arrangement of
Speaker 2: the country. So yes, financial they deal with financial crimes,
Speaker 2: but there's more the enforcements. So you need to understand that,
Speaker 2: yeah you have that princess.
Speaker 1: It even makes it you could you could still be
Speaker 1: a criminal. That's what I was trying to make people understand.
Speaker 1: And therese more you need. The is liable.
Speaker 2: The only problem that we could argue about is that
Speaker 2: maybe once the is that, oh you have an investment
Speaker 2: objective or investment functional or you want to an investment,
Speaker 2: maybe they will require that.
Speaker 1: Okay, you need to have the said linces before they
Speaker 1: give you that.
Speaker 2: That's another discussion because if you look at the Nigerian
Speaker 2: cis for example, if.
Speaker 1: I well I was in the country.
Speaker 2: If you want to register a capital, if you want
Speaker 2: to some financial.
Speaker 1: Word investment, investment, Nigeria bank and they won't they won't
Speaker 1: really start those comp those names for.
Speaker 2: You will answer for for example, you want to answer
Speaker 2: banks for CPL said if you want to look after
Speaker 2: you answer for a counter that you ask for keywords
Speaker 2: to maybe you have to do that in future. But
Speaker 2: they are not like technically I'm not looking at the
Speaker 2: linear interpretation of the judicial they are not they don't
Speaker 2: have any business with.
Speaker 1: The answer is no, it's it's not really ex because
Speaker 1: if you are selling securities. This is the differentiation Nigeria.
Speaker 1: If you are selling securities, which means you are asking
Speaker 1: people in public. The key word is public. If if
Speaker 1: if I don't live there in nearbar, I said them,
Speaker 1: they have this share to sell to you. It's for
Speaker 1: ten thousands. Them they give me ten and I give
Speaker 1: my share. Two of us are talking. Has no problem
Speaker 1: with that. If my brother or my girlfriend comes to me,
Speaker 1: I do a deal with her. Second the problem with that.
Speaker 1: But once I go to the radio, to Twitter, to anywhere,
Speaker 1: to the public and I say hey, I have this share,
Speaker 1: come and buy from me, sexist. You have to register
Speaker 1: to even say that. That's the problem when ef SO
Speaker 1: people are EFCC is saying I have I had a
Speaker 1: dest in Niger and it told me to come and
Speaker 1: I had money transfer whatever this told me, come and
Speaker 1: get e FCC license. I said, for what, it's just
Speaker 1: my book. I'm not sending the book. What oh, Because
Speaker 1: you have a bank account and you are receiving money,
Speaker 1: so you have to get EFC license. Okay, but I'm
Speaker 1: not trading. I mean what I'm trying to get to
Speaker 1: is that that EFC license is a bit to people
Speaker 1: use it and say I am cleared this that's the world.
Speaker 1: I am cleared by EFCC. See how I asked my question.
Speaker 2: Yeah, I didn't understand the fact that it's more of
Speaker 2: a security functionality and just for the the enforcement JENC
Speaker 2: to have you on that there because if you look
Speaker 2: at the like this, for example, they're already connected with
Speaker 2: the inter pool.
Speaker 1: The n BI does to ensure that this gets said
Speaker 1: to you, coun.
Speaker 2: Why they're doing but you they have no over sits
Speaker 2: in the investment vocalo me are you not this conversation?
Speaker 1: Many like you even.
Speaker 2: And there's another problem again, a lot of people tell
Speaker 2: you that, okay, what if it's an accountant, use the
Speaker 2: financial profession?
Speaker 1: Can you offer? I say, then side is no. Because
Speaker 1: technical yes, if you look at.
Speaker 2: How technical securture is. Because he company has securature has
Speaker 2: changed planks don't mean he has.
Speaker 1: A will to of they are different.
Speaker 2: There's one monment that says costudient there's different.
Speaker 1: There's so many, there's too many. So you have to
Speaker 1: understand that even because you.
Speaker 2: Are in the financial profession that you have to certifications
Speaker 2: does not give you the luxury to offer investment products
Speaker 2: to the public without And that's why I did that
Speaker 2: story for people to understand as c SET is coming
Speaker 2: for cegibrities and influencers. If you think that this one
Speaker 2: that these days are okay, you offer investments because you see,
Speaker 2: I can in love.
Speaker 1: Like yours, get points and many of them, out of shame,
Speaker 1: they keep quiet. And sometimes if you look at GMS,
Speaker 1: you look at comments, it prings you because many.
Speaker 2: Of them it's not because they were just britty. They
Speaker 2: had trusting the systems, they believed the okay this and
Speaker 2: the lack of understanding of how these things work. So
Speaker 2: the government is saying that c they are going to
Speaker 2: be more aggressive on influencers and celebrities because if you
Speaker 2: look at the crypto market, for example, crypto is not
Speaker 2: illegal in Anigia, but to see, but I cannot sell
Speaker 2: crypto to the public because I need a form of
Speaker 2: the lindest to be a cet as an exchange in Brooker.
Speaker 2: That's what people don' understand because in an asset is
Speaker 2: not in legal.
Speaker 1: You have to also look.
Speaker 2: At the person selling it on the claiming to offer
Speaker 2: the services?
Speaker 1: Do they have the license to the sex.
Speaker 2: That was inspicuilty as your commissioned technical insict.
Speaker 1: That money issue, they're not going to get the money back.
Speaker 1: Let's just they don't give up the false falsehood. Someone
Speaker 1: asked me on TV. I said, the money is gone.
Speaker 1: It's not coming back. The money is gone. Sorry that
Speaker 1: don't give up the false hoop. The money is not
Speaker 1: coming back. The one with what's this guy? S BK?
Speaker 1: What's that guy's name? What's that guy's name? The one
Speaker 1: in the US, The boy in the US, what's his name?
Speaker 1: S BK? What's that? Guys believing they want that did
Speaker 1: the fraud? Now the crypto guy, Oh my god, SOMEBF
Speaker 1: SBS SBF was they had a bank, they had assets,
Speaker 1: they had collateral. So the the guy that was appointed
Speaker 1: was able to go to the assets and grab those assets.
Speaker 1: The with this gentleman, the older guy, oh my god,
Speaker 1: what's happened to me? There made of ben made of
Speaker 1: had he had assets? But the guy was able to
Speaker 1: write to the folks that had we drawn money and said, hey,
Speaker 1: we drew money, we're gonna clow it back. In this case,
Speaker 1: the guys that the CBX people don't have any assets.
Speaker 1: They are passed through I show here. Let me just
Speaker 1: ask him. I mean, what's going on, man, shadow? Because
Speaker 1: the money, what's happening? Why are you guys, Why are
Speaker 1: you guys doing this thing to us? You don't talk
Speaker 1: to us about this. What happened with CBS? What's going on?
Speaker 1: What you will watch out for? Problem? It's your people.
Speaker 1: They were selling crypto something.
Speaker 2: So you guys, senior man, you know that that was
Speaker 2: an outright sam you and we need both of you
Speaker 2: know that was an outry s challend.
Speaker 1: So but why was it going on for so long?
Speaker 1: And people are going in there? I mean usually I
Speaker 1: have I tell people if you see any offer, send
Speaker 1: it to me DM, I'll tell if it's fake, that's secret.
Speaker 1: Just offer. Just send it to me. And I still
Speaker 1: have that offer open roadding people send me.
Speaker 2: I think you need to bad patters of Nigia for example,
Speaker 2: Nageras want to travel abroad, if Najas want to invest
Speaker 2: it to very need to understand.
Speaker 1: That's why I said that we are problem.
Speaker 2: It's not just looking at Bigger American or the apagent
Speaker 2: to analyze that. No, it is localized problem. You need
Speaker 2: to understand the bigger patterns of Nigerians and why distance
Speaker 2: witionally bassist. You know, so for example, Nageras have quite
Speaker 2: sect comes.
Speaker 1: With money when it comes to traveling, when it comes
Speaker 1: to health.
Speaker 2: So they feel that okay, and you have to understand
Speaker 2: why it's like that. Not really a bad thing, but
Speaker 2: distance create gaps and we need to understand, okay, how
Speaker 2: we can minimize.
Speaker 1: That's why I said that. See rather than if you
Speaker 1: know you can open.
Speaker 2: Up to car for example, and you can people an
Speaker 2: investment bank has to requisite and speak to somebody that
Speaker 2: you know that okay, it's passing alongst you can old
Speaker 2: in case pings go wrong. You know, I need an
Speaker 2: old man in the room because often times, like you said,
Speaker 2: if you don't have told you about seabecks Definet, you
Speaker 2: have raised the reflect that oh this is this return
Speaker 2: is not just like I said. If you see what's
Speaker 2: a girl and see what is no fair government's assets,
Speaker 2: you see that kind of return, it's already red flag.
Speaker 2: And the fact that you also even see that. But
Speaker 2: you know, some people say, okay, well we're doing to
Speaker 2: see binance. We don't see, we don't see you.
Speaker 1: See there are so there are so much legitimation.
Speaker 2: Across those entries because you look at Balance for example,
Speaker 2: it is registered in many markets. Yes, I have to
Speaker 2: be bad issues, but they are registered.
Speaker 1: You can't pay points the entities around them, you know.
Speaker 2: But in the case of this, you know we can't
Speaker 2: do when you say who founded this? Look at the
Speaker 2: persons that were killed for a positive game in peace
Speaker 2: clai poses. You know the government was able to track
Speaker 2: because they used there for instance.
Speaker 1: It was so easy. Yeah, and it's going to be
Speaker 1: a bit.
Speaker 2: Harder for us because it was a bit of scuted.
Speaker 1: The EXE club was your plans.
Speaker 2: You took them going to the celestriture you started twenty four.
Speaker 1: There was this. This is from September. So please can yeah, please,
Speaker 1: I want you to explain to what's what had happened.
Speaker 1: If so we can sort of learn what happened. So
Speaker 1: thank you very much.
Speaker 3: I always love to come to your space and thank
Speaker 3: you for sharing your platform, your honorable platform within me
Speaker 3: all the time.
Speaker 1: A scam is a.
Speaker 3: Scam, and I don't want us to call it a
Speaker 3: cryptocurrency scam.
Speaker 1: I mean, I know it's not even a bit coin.
Speaker 2: Scam, but if you check properly, you realize that it
Speaker 2: is more of a fiat ed aboot scam.
Speaker 1: And I would like us to.
Speaker 2: Holistically look at the value of fiat currency scams versus
Speaker 2: Bitcoin slash cryptocurrency scams.
Speaker 1: Look, this thing happened, and I'm not even.
Speaker 2: Sad and I'm not happy, But because I believe people
Speaker 2: who fail for it.
Speaker 1: Do you think I think the point because was it
Speaker 1: was crypto? Do you think because I heard, do you
Speaker 1: think that's what? And that's what I'm saying. It's not.
Speaker 3: It's not over eight hundred billion, two three point two trillion.
Speaker 3: Another value is what happen with fiat currency scams compared
Speaker 3: to just about thirty five to forty billion in twenty
Speaker 3: twenty four when it comes to bigcoin and cryptocurrency.
Speaker 1: So it's not even compare how much how much did
Speaker 1: they lose? How much did they lose in this scheme?
Speaker 1: You know how much was lost in the scheme. You
Speaker 1: have a number.
Speaker 2: I mean that's so verifiable because there is the rumor
Speaker 2: of one point something trillion Nira twenty something trillion US dollars,
Speaker 2: big a million US dollars and nobody can verify.
Speaker 3: No one has their analytics of what the came from Nigeria.
Speaker 1: But where they're doing Nira or it was it because
Speaker 1: I saw one on TV saying she puts dollars in it.
Speaker 2: I don't even know anything about again, but until you
Speaker 2: became this scam.
Speaker 1: Now trying to figure out this is this is all
Speaker 1: your state, right, this is this was in all your state.
Speaker 1: So I'm not figured out the amount of disposable capital
Speaker 1: that you have a trillion that people were putting money
Speaker 1: from their bank and put it in this scheme.
Speaker 2: It just just acording good scene, like so what it
Speaker 2: went towards and it was it belonged to I think
Speaker 2: the popular creatures change because Richard the Richard the address
Speaker 2: I you know, like I said, it's very difficult for
Speaker 2: you to especially that it was one point.
Speaker 1: You know. That was why even when I.
Speaker 2: Wrote it alleged I took it down because I did
Speaker 2: the part I look at it that.
Speaker 1: It also came from other I mentioned care Yeah, yeah,
Speaker 1: we had markets. Again, there is an organized.
Speaker 3: There's a there's an organized sectors that scam sector. Now
Speaker 3: that's the eventual the eventual revenue from their scam is
Speaker 3: put together in a large wallets.
Speaker 1: You know, we traced some big coins to large one.
Speaker 2: Wow was crazy and I'm not like three four five
Speaker 2: going in the last four months that we've been tracing
Speaker 2: and we can see the transactions, but it's getting into
Speaker 2: a larger and larger pool and interpot with a lot
Speaker 2: of people have their eyes on it.
Speaker 1: But you know, overall, what I would like to, you.
Speaker 2: Know, really suggest here if we have got into that
Speaker 2: segment of the show.
Speaker 1: Yes, always it is knowledge matters.
Speaker 3: You know, you have to educate yourself, make sure you
Speaker 3: are not vulnerable to these camps.
Speaker 1: And it starts from your education.
Speaker 3: You know, all realistic returns exploits you. You know, because
Speaker 3: you will not be able to sit down and zoom
Speaker 3: out and understand the position you are. Once you have
Speaker 3: a technical ignorance to any pitch in front of anybody
Speaker 3: and you see the numbers, you will.
Speaker 1: Fall for it. You don't want to fall for that,
Speaker 1: so you want to learn the basics, especially this spetual asset.
Speaker 3: The time where I say twenty twenty five, I've been
Speaker 3: signed again, I'll use this opportunity to say big ups
Speaker 3: to doctor Timagamma.
Speaker 2: And it's secting. But guess what this is where the
Speaker 2: biggest frauds will happen.
Speaker 1: I have.
Speaker 3: Predicted that bad actors may also want to take advantage
Speaker 3: of this opportunity because people want to create coins and
Speaker 3: talking nice stuff, and we may have SBF, et cetera.
Speaker 3: That's why I like the onboarding kind of strict measures
Speaker 3: that SEC have put in place. I'm trying to post
Speaker 3: something in the nest because at me they mentioned it,
Speaker 3: but I can't post which states that you will go
Speaker 3: to jail for three years or pay ten million there
Speaker 3: if you're an influencer and you do not take you.
Speaker 1: Don't work with an approved.
Speaker 3: Organization, and you promote intentionally or on intentionally paid on
Speaker 3: pay ponzis or even on licensed exchange business. So if
Speaker 3: you really really want to succeed in this space, you
Speaker 3: have to pay attention to sex. So people really must
Speaker 3: also try to work with lines organizations. A lot of
Speaker 3: us are because our license, yes, but we filed.
Speaker 1: We know.
Speaker 2: We are working with the IRID program closely, and I
Speaker 2: love what the team is doing.
Speaker 1: It's it's not going to ondo.
Speaker 3: It's a little bit slow, but I think it's better
Speaker 3: to be slow than to get it from.
Speaker 1: All the aid. That's what paid forwards we have to. Yeah,
Speaker 1: I was gonna ask you that, I was gonna ask
Speaker 1: you give me one or two things I should if
Speaker 1: I'm a guy, I want I like this cryptosy and
Speaker 1: I want to invest what I want on two things
Speaker 1: I should just not do very well, thank you very much.
Speaker 1: The number one thing I would say is.
Speaker 2: There It's very hard because I also have a business, right,
Speaker 2: it's very very hard to say it's truth. You know
Speaker 2: now that there is I say twenty twenty five because
Speaker 2: there is a lot. So if I don't say this
Speaker 2: positionally does not about two, number three or number four,
Speaker 2: then I'm not giving another trait tad on filter education.
Speaker 1: So saying the first one will be out avoid the
Speaker 1: use of.
Speaker 2: Platforms that are not repeatable, and I will tie that
Speaker 2: around unregulated platforms and and and even the people that
Speaker 2: you know, your family members, you know, to try to
Speaker 2: push them to regularize this. This is the truth I
Speaker 2: tell people, you know, which is why I'm always coming
Speaker 2: out when you.
Speaker 1: Give a platform for especial like this is like jump on,
Speaker 1: it's locally And that's one. That's one.
Speaker 3: Y second one is you must you must learn learn
Speaker 3: to very five transactions and secure your assets I'll tell
Speaker 3: you how. The reason for a bitcoin that better blood
Speaker 3: chain is for you to be able.
Speaker 2: To own and store your money. Everybody must learn how
Speaker 2: to use hardwares. You know how to understand sea phrase
Speaker 2: protecting your seat fras family their family that with twenty
Speaker 2: four words twelve words understand two facts of authentication, avoid
Speaker 2: public wi FI. Those are basic fishing platfalls that you
Speaker 2: can fall for. You know, give it with scams, stay
Speaker 2: away from me. It's all those give it with scams
Speaker 2: scams already have passed, so.
Speaker 3: Very very important red flags you must run it away from.
Speaker 3: Or realistic returns, pumps and dumps of fake icos, those
Speaker 3: are very vital example, then very fine your transaction is
Speaker 3: also very very important to want to fun ow to
Speaker 3: double check addresses. Some of these addresses are now compromised.
Speaker 3: So these are levels to uh you not falling for
Speaker 3: these scams. And I would not like try as much
Speaker 3: as possible, even if the platform you're dealing with does
Speaker 3: not have a set lincense. But you are very sure
Speaker 3: you're right, check your compliance, check how your compliance operate.
Speaker 3: You know when you are signed up into a platform
Speaker 3: and it is no KYC.
Speaker 1: It's a little bit crazy.
Speaker 2: I'm a bigcoinner and I promote non custo your experience.
Speaker 1: Right, you have to also tell you what is happening
Speaker 1: is very very last question for you, sir, is there
Speaker 1: any I seen billboards? Crypto is legal? Is there a
Speaker 1: legal Nigerian own trading platform Nigeria today.
Speaker 2: That then they say them rocal no mind now markets
Speaker 2: and and it's true, it's actually correct what they said,
Speaker 2: because the President have signed a lot and the pastor
Speaker 2: the national semi first readion second reading. It was wonderful
Speaker 2: to made oppontimity that quietly without any controversy around it.
Speaker 2: I mean, even though we know the CBN are not
Speaker 2: very I.
Speaker 1: Mean CBN is.
Speaker 2: They really tried, but you know they should completely give
Speaker 2: that free hand. Let the interpret pability be simple and seamless.
Speaker 1: So crypto crypto is legal?
Speaker 2: Question your question, let me. I just wanted to give
Speaker 2: that background. The truth is there is busher, there is
Speaker 2: quid acts. Those are people who already have a I
Speaker 2: PM by in principle, they don't have the full lincense yet,
Speaker 2: but they are there already so and I think they're
Speaker 2: representing well, I don't know about the array portage.
Speaker 1: I don't know if they are complying, But I.
Speaker 2: Believe that SEC did a good job by you know,
Speaker 2: using them as the foundation.
Speaker 1: To learn how the space is.
Speaker 2: But I think that I think that doctor Timmy would
Speaker 2: like to onboard more people, maybe five, ten, fifteen, more
Speaker 2: smart founders and products builders, so that it can you know,
Speaker 2: widen the scope. Plus the pace they've learned from push
Speaker 2: and quizics, they can also implement and guiding the next space.
Speaker 1: This is the next financial space. Its guse well, let
Speaker 1: me predict this.
Speaker 2: All the banks, all the banks and the Federary Public
Speaker 2: of Nigeria will sell bitcoint in front in banking, they
Speaker 2: will sell bitcoin on their apps, they will sell the
Speaker 2: atapability between SEC and CBN's going to be it's going
Speaker 2: to be very, very beautiful. If what's dotor Timmy, I
Speaker 2: think is planning. If you look at all the moves
Speaker 2: that it's making them, it's going to beautiful. Except they
Speaker 2: allowed politics make it spoiler.
Speaker 1: Okay, good answer, thank you. Let's okay, go ahead to
Speaker 1: add a few things to whatever said.
Speaker 2: So, yeah, look, I wanted us to look at also
Speaker 2: why markets sent to suffer. So if you look at Trump,
Speaker 2: for example, when Trump created is stoken for example, look.
Speaker 1: At number of nas are invested in it.
Speaker 2: Now look at come through the stock market for example,
Speaker 2: look at you see. The truth of the matter is
Speaker 2: that we also need to look at this, not from
Speaker 2: the academic or the professional star. We need to look
Speaker 2: at because I think we need to invest more with
Speaker 2: against culture and emotions will tell you that, oh well,
Speaker 2: mini coin thse three x four x, so naturally the
Speaker 2: stock market is less attractive. And if you look at
Speaker 2: the minispiece, they are good coins, but they are many
Speaker 2: terrible coins that we call rock that you just invested.
Speaker 1: And just like you're back to the village.
Speaker 2: So it takes us back to the next conversation.
Speaker 1: Can is he going to stop? The answer is no.
Speaker 1: The fire governments are located beyond.
Speaker 2: Are going to the sect for financial lituracy. Now the
Speaker 2: question is why why did you go to work? My
Speaker 2: answer is that when I listen to.
Speaker 1: What the section said, I was a bit disappointed. Now
Speaker 1: I'll tell you why.
Speaker 2: I I am not in America.
Speaker 1: You know.
Speaker 4: I put I tell you the SEC American workshop and
Speaker 4: many times on cob holes, on spaces, you know, and
Speaker 4: on meetings, and this is how they do it.
Speaker 1: You see if you look at the.
Speaker 2: Sex if you look at sex US for example, they
Speaker 2: have set US.
Speaker 1: They have set education.
Speaker 2: Now, if you go to second education for example, they
Speaker 2: will tell you, okay, you want to US and distance.
Speaker 1: They'll give you all the things you should watch out for.
Speaker 2: And if you see that you're confused, reach out to
Speaker 2: this number which are so I then are now democratized.
Speaker 2: Knowledge is not their community. So you don't need to
Speaker 2: be an American to understand the US dock market or
Speaker 2: and they accessible you know, he had certain sequences. They
Speaker 2: come on space, they come on globals, They do enlightenment
Speaker 2: program poscually on products like when we are going back
Speaker 2: and forth like secur this and that, we understood the
Speaker 2: professional and that helps knowledge. Now if you haven't ten
Speaker 2: billion now, for me, I think it's enough because for example,
Speaker 2: for example, set cado case okay, okay, once in quarter, Okay,
Speaker 2: we'll come okay.
Speaker 1: Maybe let's use cargo space for.
Speaker 2: Example, to propagate Okay, investment education.
Speaker 1: Let's look at how we could.
Speaker 2: Use school's financial influence investment banks.
Speaker 1: Because saying that they want to big physicis in theselves.
Speaker 2: It was to me, it's a wisdom because First of all,
Speaker 2: I said, Nigeria, it goes when they were I've really
Speaker 2: been there, and I think that that amount of money
Speaker 2: to build infrastructure will not so they need.
Speaker 1: To look at things we'll just carry I think seconds.
Speaker 2: Who needs yeah, let me let me, let me protrasse
Speaker 2: your points on limited very.
Speaker 1: Let yeah. I want to get us like.
Speaker 2: Fifteen seconds to say it's true about Unfortunately.
Speaker 3: Maybe that's not how they are thinking. They have a
Speaker 3: sec TV or digital TV program that it just launched.
Speaker 3: I've sent it on LinkedIn a couple of times. I'm
Speaker 3: just hoping that they can spread that across spaces. For example, Calu,
Speaker 3: I justul be called and partnered with many of us
Speaker 3: who What I try to do is intentionally goes directly
Speaker 3: to the top man, get information and disseminates that information,
Speaker 3: you know, bringing to places where people.
Speaker 1: Can hear from him.
Speaker 2: The last time we had it one of one with
Speaker 2: him was about I think about seven days ago, about
Speaker 2: five hundred of us and it was very interesting.
Speaker 1: He took questions and answered. Mister Babaton the or Brema.
Speaker 3: The CEO of Intech Nigeria and his team organized a
Speaker 3: virtual assets session with the DG and it took questions.
Speaker 3: He told us why some lincenses have not been issued,
Speaker 3: why we would be issuing license pers on, what you.
Speaker 1: Should do, YadA YadA.
Speaker 3: So I think that I'm not campaigning for sake, but
Speaker 3: I just hope that the time will be enough for
Speaker 3: doctor team to be able to implement move fast, create
Speaker 3: new millionnaires positively without people being cheated, mitigating all that
Speaker 3: BASK creates new companies that can employ people, help line
Speaker 3: GVR generate. That's revenue for real, because you know CI
Speaker 3: T and the other seven point five that they want
Speaker 3: to be collecting when business flourishes for real with international partnerships,
Speaker 3: for example, I love the fact that if you want
Speaker 3: to come as set up here, you must have the
Speaker 3: physical office employee.
Speaker 2: Nigerian, having Nigerian CEO. That's very beautiful. So a coin
Speaker 2: based bind us cannot come here and compete.
Speaker 3: Without hiring a lookal person and that's local content human
Speaker 3: capacity development. So overall, if it is implemented well without
Speaker 3: them publicing too much which will stifle innovation and let
Speaker 3: you know, people show them how, it will also works
Speaker 3: energizing intentionally sincerely without favoritism. Weren't avoiding politics and there's
Speaker 3: something I would have loved to post to the list,
Speaker 3: but I don't know what to mister Calu. Do you know,
Speaker 3: it's basically what SECT should responsibly do, and I think
Speaker 3: we're doing it. I put these place in the presence
Speaker 3: of doctor Timia all the time, and it's listening can
Speaker 3: time with him.
Speaker 1: So let's let's hope that it works well.
Speaker 2: But in another one and the year two years, you know,
Speaker 2: we go begin to see as when they blow go
Speaker 2: know whether you know for ours go.
Speaker 1: Open or not? All right, perfect, guys, I mean talk
Speaker 1: back to this issue of education on employment, young folks
Speaker 1: with phones that don't Google to verify investment options, the
Speaker 1: fear of missing out. These are always driving this whole
Speaker 1: you know, clear posy schemes. Let me let me get stand.
Speaker 1: Stand you've been here for a while, Stand alright, Yes,
Speaker 1: what we're talking about? What's your take? What's going on?
Speaker 5: Yeah, Carlo golivn In, believing everyone on the speaker's train
Speaker 5: and listeners also would shout us world versions. Yeah, I
Speaker 5: just wanted to chip in one or two things. And
Speaker 5: before I go, I want to answer the question Carlo asks,
Speaker 5: what should be be very about when going into the
Speaker 5: crypto space or whatever. And I'll answer that question by
Speaker 5: saying the worthy of counterparties. And anyone who knows me
Speaker 5: very well knows that whenever I talk about crypto or bitcoin,
Speaker 5: I try to differentiate this too.
Speaker 1: Right, with bitcoin itself, once.
Speaker 5: You have your seat phrase, you have avoided everything that
Speaker 5: has to do with counterpartteris. But then when you come
Speaker 5: to the crypto space, you are still you still work
Speaker 5: with intermiliaries.
Speaker 1: And when you work with intermiliaries, they're.
Speaker 5: Always room for their dis are counterparties, and they're always
Speaker 5: room for you can call it failures, calm, whatever, because
Speaker 5: something doesn't have to be it's calm for you to
Speaker 5: lose money, right, there are some things you also lose
Speaker 5: money on. About the essence of people trying to invest
Speaker 5: is just because they want to have performed.
Speaker 1: They want to make some money. Right.
Speaker 5: And the next question you ask is is crypto legal?
Speaker 5: And I don't want to like to use that word
Speaker 5: crypto because most times when we say crypto, it does
Speaker 5: bordire getting.
Speaker 1: Into one basket.
Speaker 5: And so I usually differentiate crypto from bitcoin, right because
Speaker 5: bitcoin does not have any counterparties. And this is actually
Speaker 5: what you need to protect yourself from any form of
Speaker 5: scam or rock poo. But then you know when we
Speaker 5: when we try to differentiate crypto or Ponzi skin some people.
Speaker 1: I just want to mix people. I want to differentiate.
Speaker 5: This stutent with crypto is just you're working with the
Speaker 5: protocol and this protocol is just it too, right now,
Speaker 5: It's just the example is let's say, mister Carlo, you
Speaker 5: owe the knife.
Speaker 1: That knife is just it too.
Speaker 5: You can decide to use the knife to stab someone,
Speaker 5: or you can decide to use their knife to cut onions.
Speaker 5: Now that you use the knife to stab someone does
Speaker 5: not mean that that knife is a bad instrument, right,
Speaker 5: It is the intention of the person that used it.
Speaker 5: So crypto in terms of the protocol, they are designed
Speaker 5: in the way where you can use it for many things, right,
Speaker 5: And then it depends on the mindset or it depends
Speaker 5: on the.
Speaker 1: Yeah, well hold on, hold, hold on, hold, I don't know.
Speaker 1: It's not a crypto space, right, So yeah, just about no, no, no, no,
Speaker 1: I'm just it just makes it simple because when what
Speaker 1: did they do wrong? Like if there were many guys
Speaker 1: that I saw on the video and NT that were
Speaker 1: crime because it was an investment. I just want to
Speaker 1: know for those guys, what did they do wrong? We
Speaker 1: know that, but like what they did, what should they
Speaker 1: have picked up on? How should I have invested at
Speaker 1: the tips? I want to so folks can say, okay,
Speaker 1: next time, okay, when when somebody is promising you on
Speaker 1: we know that is any like technical crypto things you
Speaker 1: should have looked at? It is because I know the
Speaker 1: investment side, But is anything you guys know that this
Speaker 1: is fake? Is anything you can say on the crypto
Speaker 1: side text side us?
Speaker 5: What bets did was to use crypto as it to
Speaker 5: to run azy skin. This is what I was trying
Speaker 5: to differentiate crypto and ponzy. They used crypto as it
Speaker 5: too to perpetuate it skin the same way you can
Speaker 5: use fat as a tool to perpetuate the pos skin.
Speaker 5: So it's not about the crypto, it's about the It's
Speaker 5: about what's the perpetuation of the same.
Speaker 1: If anything can be useful, that's fine. I know you're right.
Speaker 1: I hear you go ahead.
Speaker 2: I can't hear you're breaking Okay, let me quickly tap
Speaker 2: in force Stan. I think Stan, you have a bad network.
Speaker 2: But the things where they talk but and mister cal
Speaker 2: is agreeing with you, but maybe you're not. You're getting
Speaker 2: a feedback that it's not straightforward. But you know, I
Speaker 2: think you should just stay skeptical. If you can't hear me, right,
Speaker 2: stay skeptical. Can you hear me?
Speaker 1: Yes? I can? I hear you? Stay paranoid? Pid survive? Okay,
Speaker 1: no worries. Let me get Google, Google? Google? How are
Speaker 1: you doing? And you've been listening in here? What's your
Speaker 1: take goals happening? Did you invest in seabecks? Yeah, I'm good,
Speaker 1: I'm good, I'm good. Did you hear me? Yes? I can.
Speaker 1: Did you invest in seabecks?
Speaker 6: No?
Speaker 1: No, no, no no. So my friend invested in seabags.
Speaker 1: So how much did he lose?
Speaker 7: He invested like this, one hundred dollars? Because I would
Speaker 7: just give like a backstory to how everything happened. Right,
Speaker 7: So me, I've been I've been in the crypto space
Speaker 7: since twenty twenty one. We get and I'm like that
Speaker 7: that I've tought some people, right, But like, how may
Speaker 7: I always teach people? Is that I always teach them
Speaker 7: what not to do and them, like I always do
Speaker 7: not tell them what I'm.
Speaker 1: Investing, because what they're invested is the plug disiness? Right?
Speaker 7: So when he comes to me, right and he tells
Speaker 7: me that his sister is telling him about one something
Speaker 7: that is crypto related, that one hundred percent report, and
Speaker 7: I'm like, bra, you lose your money then it's not possible, right,
Speaker 7: And I'm like, you know, said said He said him
Speaker 7: like that that then.
Speaker 1: He will think about this. I said, bro, like, do
Speaker 1: not do it. You would lose your money. He now
Speaker 1: said his.
Speaker 7: Sister has made money. I said, look at the news,
Speaker 7: guy like Trump is giving me everybody and keep the
Speaker 7: sleepless nice like where like the people that are paying
Speaker 7: these guys the money where they' getting the money from?
Speaker 1: Because I do know that there's no AI bot that
Speaker 1: is able to predict me.
Speaker 7: Maybe and like when Trump wants to destroy the market,
Speaker 7: that he will tell it, tell that it would know
Speaker 7: that it has to shot. It's not possible, except if
Speaker 7: maybe that it's from the future. But he did not listen.
Speaker 7: So and like one week click back, he said he's
Speaker 7: going to send his sister money. I said, oh, okay, no,
Speaker 7: but it's a crush. Do you understand, And this is
Speaker 7: somebody that is well educated, do you understand? He went
Speaker 7: to school to understand his intelligence. But I'm telling him
Speaker 7: based on everything that I know, and he still went
Speaker 7: because I mean, at theal of the day, most people
Speaker 7: would listen to their.
Speaker 1: Does he have a job? Does this guy have a job? Yes,
Speaker 1: yes he has? Is he likes is it like a starter?
Speaker 1: Middle management? Do you know how much it ends? Like
Speaker 1: round figures? I just want to get to prove demographic
Speaker 1: of this guy. I would say that he's in tect
Speaker 1: He's like, yes, do you understand? Can be very toughful?
Speaker 1: So if he didn't find I would say that, Okay. Like,
Speaker 1: one thing that I've come.
Speaker 7: To realize is that people would always listen to their
Speaker 7: family members.
Speaker 1: That's one thing that I agree with you. I agree
Speaker 1: with you no matter how you feel that you know
Speaker 1: something is bad.
Speaker 7: Okay, stay away from this because okay, like okay, So
Speaker 7: I wouldn't give it backstory. So I'm like, I am
Speaker 7: have a friend that like good Michi and like wanted
Speaker 7: to use Patricia.
Speaker 1: Right back then when they were doing the pig stuff.
Speaker 1: And I laughed and I.
Speaker 7: Said, do not put your money there that if he
Speaker 7: wants to use use an exchange in cryptical, just use
Speaker 7: one that has to go back.
Speaker 1: You get that money there.
Speaker 7: Because as I said, oh okay, that's why are there.
Speaker 1: It was extremely good.
Speaker 7: It doesn't make sense because I think it would crash
Speaker 7: and Patricia crashed.
Speaker 1: Do you understand, and her money was saved.
Speaker 7: Like I would say that, there's some things that are just.
Speaker 1: Like I said, I hear you, bro when I said
Speaker 1: I said that the power of posi schemes that it
Speaker 1: is word of mouth. People tell you it's working, and
Speaker 1: really you put money in there, it works, So it's
Speaker 1: very power. That's the point of me about listening to
Speaker 1: their family. It works because that's why you have to
Speaker 1: cross check influences. Yeah, but you know, but you know
Speaker 1: when you guys say influences. If you're in the US,
Speaker 1: Kim Kardashian was fine because she did an endorsement. But
Speaker 1: they are finding influencers because they're not paying taxes. They're
Speaker 1: not going after them really because they are influencing their
Speaker 1: saying listen, you influenced, you made money, didn't pay us taxes.
Speaker 1: It's difficult to say, Okay, if I wear a T
Speaker 1: shirt that has bitcoined, that might influence it for bitcoin?
Speaker 2: Can you can you say that influencers are Loo good
Speaker 2: chance for people because a written stories on that is
Speaker 2: crypto and infinancial.
Speaker 1: Because the law there.
Speaker 2: Are certain requirements, for example, relates.
Speaker 1: I can't remember the name. You know what I'm saying that,
Speaker 1: it's difficult to say. Somebody is influencing. Kim Cadashian is
Speaker 1: eating chocolate or ice cream with fifty fifteens and he says,
Speaker 1: I only pay with my with my crypto wallet. Is
Speaker 1: she influenced? For example? What this?
Speaker 6: Is?
Speaker 1: This? What we are talking about?
Speaker 2: So for example, you initiate or you recommend a project
Speaker 2: like the Rock I don't want to give names. There
Speaker 2: are influences that initiate the rockboot projects for example investment.
Speaker 1: What is talking about understood?
Speaker 2: Yeah, if you cant the great player, I know what
Speaker 2: you're trying to say there someday it's a big complex
Speaker 2: for example, maybe stopping the pack for example, talking about.
Speaker 1: Yeah, it's the people technical, but they're talking about out
Speaker 1: fries like going by amazing point, no point, let's get
Speaker 1: is it cheap? Is it? How you doing?
Speaker 8: I'm good, cal calor thank you for having me envelop
Speaker 8: person on the space.
Speaker 1: I say my regards, Hello, I have a question for you.
Speaker 1: Are not lumida. But before then I want to ask,
Speaker 1: but you're a very good friend. Question, But before then,
Speaker 1: I want to say this.
Speaker 8: In my thinking, a sense of government in finance is
Speaker 8: to protect the people.
Speaker 1: That when we have to sec and the rest.
Speaker 8: Right, But the guys in the crypto and it's I'm
Speaker 8: happy that you're here today, right, you guys come up
Speaker 8: and you talk about the beauty of the.
Speaker 1: Central lised finance. All the book cannot control you, you know,
Speaker 1: like they control you on feat and all that. And
Speaker 1: I look at it and I.
Speaker 8: Wonder, and I always tell my friends, please be careful,
Speaker 8: don't go into this, right.
Speaker 1: I heard you saying, I can pronounce you on a
Speaker 1: very well or it. Yes, I heard you saying people should.
Speaker 8: Ensure right that they that whatever entity they want to
Speaker 8: go into has a scent approval, right like the CPEx thing.
Speaker 1: Now it can't to me.
Speaker 8: It contradicts the essence of decentralization.
Speaker 1: Maybe I don't know it very well. And is a
Speaker 1: question I don't I don't want to talk crypto. No, no,
Speaker 1: but I don't want to talk crypto. I don't want
Speaker 1: the space to go to crypto, So go ahead, but please,
Speaker 1: I don't want to go to a crypto space, I
Speaker 1: understand what has a crypto element to it?
Speaker 8: Right, So to Luis, I want to understand, right, we
Speaker 8: seek him to understand spec okay sex having his certificate
Speaker 8: of okay.
Speaker 1: On any entity before we go into that.
Speaker 8: It was that this does that not contradicts the centralization
Speaker 8: or the digitalization concept within the crypto That's.
Speaker 1: The question I want you to answer. That's number one
Speaker 1: to power.
Speaker 8: And I saw your tweet that said that Tibec had
Speaker 8: sex certificate.
Speaker 1: Right, and I wonder sex he said they had only
Speaker 1: the correct me. I saw you your tweet.
Speaker 2: If you have set and I don't forget that the
Speaker 2: common better than the DIGITIAM don't have any form of
Speaker 2: revolution from the entity?
Speaker 1: Okay?
Speaker 8: Because because I really that was what I wanted you
Speaker 8: to I wanted to clever. I think if that was
Speaker 8: actually wanted to clif because I was wondering if they
Speaker 8: had certificate, what.
Speaker 1: Else would Nigerians do to ensure security before they go
Speaker 1: into their space.
Speaker 8: But if you retracted that to it, then fine, or
Speaker 8: if I miss orders to it, fine, So always you
Speaker 8: please and you answer that.
Speaker 2: I cannot thank you, thank you very much. It's a
Speaker 2: check will it's a it's an interesting question and.
Speaker 1: I'll just tell you that whether it is virtual, asset.
Speaker 3: Crypto or financial space, regulation is very important.
Speaker 1: So bodies like central bank and SEC.
Speaker 3: Are encouraged to lightly intensify scrutiny, you know, around whatever
Speaker 3: it is that can affect Nacherian investors and people that
Speaker 3: any financial stress. So the digital centralization of bitcoin as
Speaker 3: the apex cryptocurrency in the asset class space, I mean,
Speaker 3: does not have anything to do with geopolitics.
Speaker 2: And you know jurisdictional laws and regulation. You must understand that.
Speaker 2: And the reason for bitcoin has nothing to do with
Speaker 2: central banks, so they are just playing their own game.
Speaker 2: But you and I need to be regularized. If it
Speaker 2: comes to equity must come with clean hands. If you
Speaker 2: really want to make money from the country, you want
Speaker 2: to be allowed to play fairly. Money is on the sideline,
Speaker 2: wants to come in.
Speaker 1: Through the front door without any fear and doubt.
Speaker 2: Nobody wants to be looking at their shoulder, you know,
Speaker 2: the large economy that will boost revenue. It's not that
Speaker 2: that wants to play in the black market. They want
Speaker 2: to come to the open. So I think the second
Speaker 2: and everything around governance are only doing the right day,
Speaker 2: you know, and that's the only thing they have to
Speaker 2: do to ensure Nigerians at this secure some substantial amount
Speaker 2: from the stolen forms from using seedex. And I think
Speaker 2: I answered that your question. Bitcoin remains. This is centralized,
Speaker 2: is finite, it scarce. All of those things cannot happen again,
Speaker 2: cannot be pitting.
Speaker 3: Anybody can write this is but you know, I think
Speaker 3: they would experience bitcoin when they are ready to experience it.
Speaker 3: They're talking about celebrities that got involved in this regular
Speaker 3: unregulated end or cryptoscams, like Kim Kadashian because Lily they
Speaker 3: mentioned her name. It's not home only DJ Cali Floyd
Speaker 3: maywe that this guy's paid set in.
Speaker 2: The US as much as six hundred thousand, you know
Speaker 2: for undisclosed promotions.
Speaker 1: So some of the guys on X today will start
Speaker 1: to pay big money. It's very very important.
Speaker 3: But one they're fastardizes the space for some of us
Speaker 3: that are very legitimate in this space, because somebody would
Speaker 3: just come and promoting map coins.
Speaker 1: As see, it's an investment, and that's chumbling.
Speaker 2: It's worse that people are doing spotty and all of
Speaker 2: us and then you're promoting the enerties and all these
Speaker 2: things that really make no sense. Why don't you truly
Speaker 2: truly promote something that is legitimate. Stop encouraging people are
Speaker 2: showing them Lamborghinias and phantom those races and apartments that
Speaker 2: you you borrowed or sponsors give you to enjoy a
Speaker 2: riding weekend as a CAUH, equal Continental, et cetera.
Speaker 1: That's not how it should be. So I aligned with
Speaker 1: you know, say in that area, although that's taken food.
Speaker 2: From the mount of or not in Nigerias. But sometimes
Speaker 2: this is this is where it is important to discipline
Speaker 2: that sector. So you're most communicates with anybody that is
Speaker 2: coming to give you money and say have you registered
Speaker 2: at least? Okay, what are you doing to make sure
Speaker 2: that you're not going to be scamming people? If you're
Speaker 2: going to be charging somebody finding doesn't If it's too juicy,
Speaker 2: then it is not real, you know, because the potnos
Speaker 2: have multiple sold anything and they're ready to pay you
Speaker 2: fifty hundred millia to push that's terrible.
Speaker 1: That's a bad one.
Speaker 2: So advice against it and I'll just talk to to
Speaker 2: sportscam again.
Speaker 1: It's very very important that you know and cano. This
Speaker 1: is going to make at this place about crypto.
Speaker 2: But because we're mentioning set and seabecks all these things,
Speaker 2: you have to really understand which is a fiat scam,
Speaker 2: which is a crypto scam.
Speaker 1: They are keep butchering, they are rock pulls, they are fishing.
Speaker 2: They are different types of scams, given way scams, investment scams.
Speaker 1: They come in different languages. They say it is a
Speaker 1: crypto fund. You know the air promises high returns. YadA YadA, yadad.
Speaker 2: They tell you what has happened in the past, the
Speaker 2: scammers trying to build trust rights different.
Speaker 1: Then we're gonna gonna move on. We're gonna I hear you,
Speaker 1: I come and hear you. So I mean I'm a
Speaker 1: simple guy. When we go into crypto, people get you know, see,
Speaker 1: if anybody is offering you a return that is way
Speaker 1: away from the risk pirit. In Nigeria, it's a red flag.
Speaker 1: Whether it's crypto, property, farm, fixed deposits, even bank deposit,
Speaker 1: even registered banker is telling you maybe bring money, will
Speaker 1: pay you fifty percent. No, you have to ask questions.
Speaker 1: Red flag doesn't mean it's illegal, It means dive deeper,
Speaker 1: do your due diligence. That's the whole idea. You've got
Speaker 1: to ask. It is your money. You work for that money.
Speaker 1: If someone can borrow make fifty percent, why does it
Speaker 1: ask you to bring money. Why can't they just borrow
Speaker 1: money and do it himself. Ask those simple questions. You
Speaker 1: don't have to be a mat or investment genius. Just
Speaker 1: ask simple, busy questions. By law in Nigeria, they've got
Speaker 1: to put your registration certificates on the wall. So if
Speaker 1: you go to the company, you look out for their CEC,
Speaker 1: look out for their EC, but look out for their
Speaker 1: SEC as well. See what the rest are to do.
Speaker 1: If a company has a SEC license to issue bonds
Speaker 1: and it's equity to you, you're gonna ask questions, so
Speaker 1: you don't don't make it too I don't make it
Speaker 1: too complicated for you guys to follow. I again, we're
Speaker 1: not talking about the guys that are interested in greed.
Speaker 1: We're talking about the real folks. I just want to
Speaker 1: make an investment, want to invest, and people are keeping them.
Speaker 1: Those are the guys in this space. For all the
Speaker 1: other guys that are doing looking for one hundred thousand
Speaker 1: percent in one day, it's God that will answer you
Speaker 1: not not me. Yeah, a preble you Hi, what's gonna mine?
Speaker 1: You see more mine? Yeah? Yeah? After go ahead think
Speaker 1: an order man, after you see you have me on speakers.
Speaker 1: When I talk, there's a speedback. So if you can
Speaker 1: take that feedback off, we can hear you take me
Speaker 1: off a feet on think, I guess and I just
Speaker 1: then just go ahead and speak. Yeah. And mister Fritz,
Speaker 1: mister doing, sir, mister Fritz, maybe did you maybe did
Speaker 1: you invest in seeback? Mister Fritz so you can talk
Speaker 1: here this guy stock, bubble stock? What's what's the am
Speaker 1: I talk to us? I am very fine, Thank you
Speaker 1: so much. I can hear you and talk. It's good
Speaker 1: that you're here. So also in stock market we also
Speaker 1: have the red flags who should watch out for? Right
Speaker 1: people are saying buy this by that. But overall, what's
Speaker 1: your take on the on the on the scripto thing?
Speaker 1: Is it greed? What is it just lack of information?
Speaker 1: What do you think really is driving the young folks
Speaker 1: to I mean, you look at a place where the
Speaker 1: company was. It's a nice building in the state, but
Speaker 1: you see they pull that invested really came from Libya
Speaker 1: had two hundred dollars put in just lost the whole thing,
Speaker 1: you know. So unfortunately is it that people don't they know?
Speaker 1: I think people know there's something up with this thing,
Speaker 1: but I didn't try to get that where it crashes.
Speaker 1: What's your ticket for me? I think people are not
Speaker 1: completely unaware of the risk there.
Speaker 9: So from the narrative I've been hearing understandiments, it's like
Speaker 9: people just want.
Speaker 1: To get in an ounce quickly so that they can
Speaker 1: make their own profits.
Speaker 2: And I've even had some people recommending it to others,
Speaker 2: being fully aware that they need to quickly go in
Speaker 2: and come.
Speaker 1: Out as soon as possible.
Speaker 10: So once you get your capitil back every other day
Speaker 10: you get is general, they don't mind that they are
Speaker 10: doing it at the expense of another person, and it's.
Speaker 1: Just unfortunate on that level.
Speaker 11: And when you talk about red flags, if you say
Speaker 11: on realistic returns, see I've been involved in cryptos so
Speaker 11: because I like to diversify, so it's not just stocks.
Speaker 1: So if you're familiar with.
Speaker 9: That a rate, you will know that to get yields
Speaker 9: about fifty percent, it's really not.
Speaker 1: It's really not outrageous. You get it offered. So people
Speaker 1: are used to.
Speaker 9: Having high returns on their investments in cryptos.
Speaker 1: In fact, you're not about mining. Recently, people were happening
Speaker 1: to get.
Speaker 11: Money from crypto something that wasn't solified, but just that
Speaker 11: expectation that it might turn.
Speaker 1: Out to be something good. People are already jumping into it.
Speaker 6: So when we hear one hundred percent with on, they're like, okay,
Speaker 6: for sure, this is crypto spaces Wow.
Speaker 1: Wow space. So yeah, you can happen. People have a
Speaker 1: little bit more faced doing that. So that is one
Speaker 1: thing I know about the crypto.
Speaker 11: Space that really needs a little bit of cushion from everybody.
Speaker 1: That's getting important. Are we picking on crypto? Are we
Speaker 1: picking on crypto? My name? Do you think? Okay? Let me.
Speaker 1: When you hear crypto does it? Do you hear fraud?
Speaker 1: Or when you hear crypto do you hear don't? What
Speaker 1: do you hear when you hear crypto?
Speaker 11: Honest, if I hear when I hear crypto, the first
Speaker 11: thing that comes to my mind is custiou. It's like
Speaker 11: a big, red, flat, big the very cautious because if
Speaker 11: you're not technically savvy, you have to be you know,
Speaker 11: you have to be lucky to get a head.
Speaker 12: Starts when I when I when I started cryptal, I
Speaker 12: fell into some scams, even.
Speaker 10: Scams that were like support stamps. You know, someone would
Speaker 10: just reach out to you and you're on the platform
Speaker 10: and you're trying to get something. Maybe you you transferred
Speaker 10: your cryptal.
Speaker 1: To another words and you just want the headway, and
Speaker 1: you just post this out in the in the in
Speaker 1: the group, and someone will reach out to you. But
Speaker 1: I laterally I say, okay, thank you for posting this.
Speaker 1: We are supportive, we can help you with this.
Speaker 11: And then you know, so there's a lot of corruption
Speaker 11: and if you're not aware and you're not technically savvy,
Speaker 11: you get swept off and you wouldn't.
Speaker 1: Really want to test the words as a game. But
Speaker 1: it's also a lenning curve.
Speaker 7: So I already know what I'm looking out for for
Speaker 7: crypto and to be fund to Lucia who is a
Speaker 7: bitcoin Marxist, and you hardly find this in bigcoin other cryptal.
Speaker 10: I would say that stable coins are used for this
Speaker 10: type of pins.
Speaker 9: Is because it is easy to deal with and we
Speaker 9: draw so it's it's not volatile like like like Bitcoin
Speaker 9: for example.
Speaker 1: All that cryptals, so if they just use all that cryptals.
Speaker 1: It might be five dollars today and then tomorrow it's
Speaker 1: gone to with dollar, So they wouldn't want to do that.
Speaker 1: They want to use stable coins.
Speaker 9: It's easier withdraw and it's pegged the real world choruses.
Speaker 1: So I guess that's the reason why it's a preferred medium.
Speaker 1: Can I'm saying, I'm saying, it's not it's gonna, We're not.
Speaker 1: We're not attacking. This is knowledge. So he's telling you
Speaker 1: that that the when I say my cities pull thing
Speaker 1: wealthy German, when I say BMW, and he's just telling
Speaker 1: you what he know. It's not reports, it's and it's
Speaker 1: not Union, it's.
Speaker 2: Not it's not you on your space like this when
Speaker 2: we come, we really get this platform because your space
Speaker 2: is always.
Speaker 1: Said you busy.
Speaker 3: So when he comes like that, it could fear in
Speaker 3: the hands of people put out there.
Speaker 1: I think I think it's simply reflecting. I think it's
Speaker 1: he's reflecting. He's reflected reflecting. Listen, Why I was that
Speaker 1: questions me as just trying to tell you and others that, listen,
Speaker 1: this is what people feel. You know, there was a
Speaker 1: long time ago when banks had this issue failed banks.
Speaker 1: There was a failed bank Tribu you know bank and
Speaker 1: these were by the military Bacher a long time ago.
Speaker 1: If you put one in the bank, yeah it pott.
Speaker 1: One of the bank was callow Calo. The bank might
Speaker 1: close tomorrow a long long time ago. Probably had any
Speaker 1: eldest nd I c or it was. It was, it
Speaker 1: was wild wild waste. West came Yeah, Christy a Bacher
Speaker 1: came and all that did a few things. Then now
Speaker 1: we now have banks that looked like if you say
Speaker 1: a bank, it looked like, okay, this is this solid
Speaker 1: place to go and hide your money. It won't give
Speaker 1: you returns, per say, but your money is see and
Speaker 1: because they worked on it. So I mean the feedback
Speaker 1: is you just gonna walk? Is an industry, I get it.
Speaker 1: You know what.
Speaker 2: You said, He just interpreted what I was going to say.
Speaker 2: That benefits from sure regulatory systems. It's very very important
Speaker 2: for us to know that crypto is still dangling on
Speaker 2: that evolving regulation.
Speaker 1: So if there is anywhere scamp is perpetrated, it is
Speaker 1: the eight.
Speaker 2: Hundred billion to pret point two trilliona scamps that they
Speaker 2: exist as against a forty billion in cryptocurrency. And this
Speaker 2: is basically driven by the dominance of the traditional FIAT
Speaker 2: system with the money, the expertise and the money laundry
Speaker 2: that have money laundering.
Speaker 1: That happens in the Fiat currency and currency I hear you,
Speaker 1: I hear I'm gonna say that the problem.
Speaker 3: The problem is that's evolving regulation, the fact that FIAT
Speaker 3: has already mature in you know, the counter terrorism financing frameworks,
Speaker 3: anti money laundry frameworks and crypto you know Big coin
Speaker 3: and of course has a very good governance system of
Speaker 3: cryptot large.
Speaker 2: They're just evolving on that. Sick all around the world.
Speaker 2: You know, it's eat any gap, you know, for people.
Speaker 3: That come out of the bad experiences, them publishments that
Speaker 3: they have booked them.
Speaker 1: So they look for quick exits.
Speaker 3: And they see something that they have heard positive news about.
Speaker 3: They wantn't get into it without education, they get. That's
Speaker 3: why we tell them about BTC.
Speaker 1: Okay, all right, no worries, let's get a freable Let's
Speaker 1: hope averybles are do it better. I really want to
Speaker 1: not want to hear his take way way way better.
Speaker 1: They don't want how to go ahead? Sir? Yeah you so, yeah,
Speaker 1: thanks for time to speaking. But a husband said, I
Speaker 1: think with this, did you did you invest in CX No,
Speaker 1: that's anything.
Speaker 13: Promise you above the free rates people say hundred, but
Speaker 13: even above risk free rates monthly.
Speaker 1: Yeah, that's a really But do you think those guys
Speaker 1: were ignorant that they did not know this thing? We're
Speaker 1: saying that if if yeah, go ahead, there's a degree
Speaker 1: of greed. There's a degree of greed, definitely.
Speaker 13: I think people people, and you can tell because they're
Speaker 13: smart people who fail for this. People, the people in
Speaker 13: banking move for the people who work in banks, who
Speaker 13: advise clients against this. So there was a bit of like, oh,
Speaker 13: I'm the Shoppers guy. I can I'll get out before
Speaker 13: it goes down. And of course this guy seabacks. They
Speaker 13: really laid on this referral program, getting families and friends
Speaker 13: to bring.
Speaker 14: In and.
Speaker 1: Red flag. Red flag. That's a red flag.
Speaker 13: But it takes down your defenses a bit because when
Speaker 13: your brother, your cousins, I've been I mean this, I've
Speaker 13: made this money, you people, well meaning people will be
Speaker 13: less defensive. I'll looking into it because Okay, if my
Speaker 13: brother's making this money, maybe I will make money too.
Speaker 13: But while I'm trying to say that, because the allosa saity.
Speaker 13: I think most states have touched that. It's the key
Speaker 13: thing for me is dipersification, because registered or not registered,
Speaker 13: these scams are going to continue.
Speaker 1: This is, this is back is not the last. There's
Speaker 1: not the last one. There's gonna be another one. I
Speaker 1: don't know when. Of course, maybe it's gonna be another one,
Speaker 1: probably bigger than this one. Because it's getting more advanced.
Speaker 13: Even with registered securities, registered platforms, things are getting more advice.
Speaker 1: It's not just scrypto fiat you're gonna get.
Speaker 13: You're gonna get these scams in any format, any sort
Speaker 13: of financial product.
Speaker 1: These scams are going to be there.
Speaker 13: And the only way I see as things get more
Speaker 13: advanced anyway I see is that education, not putting all your.
Speaker 1: Eggs into one instrumental, one product.
Speaker 13: I'm being wise about obviously looking at for looking out
Speaker 13: for the basics of it being registered, it being having
Speaker 13: the necessary paperwork, subtrack record, not looking at buzzwords, but
Speaker 13: the only even that.
Speaker 1: That can be faked with enough effort, that can be
Speaker 1: faked as well. Seeb is.
Speaker 13: I think rather as far as crypto, one of them
Speaker 13: advanced well as the standard pons is giving. But they
Speaker 13: use the scrypto platform to really push it, but someone
Speaker 13: else is going to do it better. Where investment professionals
Speaker 13: can still fall for you have the a lot in
Speaker 13: fields as well, where investment professionals for force camps the fault.
Speaker 13: It does depends on how well the person is running it,
Speaker 13: is doing it while properly are doing it. So the
Speaker 13: only way I see, realistically without going into any you
Speaker 13: know uh, he says, she said, advice is investification.
Speaker 1: You have to you you really have to be discerned
Speaker 1: if you're you're going to be arrested. Know how you're
Speaker 1: putting your money.
Speaker 13: No, not not betting everything on one horse, not putting
Speaker 13: everything on one platform.
Speaker 1: Especially with crypto. I mean you can you can have
Speaker 1: your own I mean bitcoin solve a lot of this issue.
Speaker 1: Or you can. You can you got you can have
Speaker 1: a hard legend.
Speaker 13: You don't have to rely on a platform, or at
Speaker 13: least if you if you must take some of it
Speaker 13: out hoold it. You can you can split HOWE stores
Speaker 13: and save th money as well.
Speaker 1: So I think the.
Speaker 13: Investigation when you invest will it's not gonna solve the
Speaker 13: prob is the pain.
Speaker 1: When it does happen is the pain of a loss.
Speaker 1: I think everything else. Really, let me tell you this story.
Speaker 1: I have a friend, she schooled abroad. She's back in Nigeria.
Speaker 1: She had she has a fancy supermarket, so very fancy stuff,
Speaker 1: very very world educated. She told me this was doing Nospecto.
Speaker 1: You know, you get no no respect to Nospecto. She
Speaker 1: told me she had forty four million narra in aspect
Speaker 1: it's just like years ago Nospecto forty four million, and
Speaker 1: she's not taking it out. She started up with four million,
Speaker 1: She got her principal back. She left the money there,
Speaker 1: told all her friends she's made so much money. She
Speaker 1: left forty four She knew it was going to crash,
Speaker 1: but everyone doesn't crash. It's just pure profit for her.
Speaker 1: That's the bulk of the guys that are doing these deals.
Speaker 1: Because you see this this point. The thing is very
Speaker 1: very it's a very smart investment because you have a
Speaker 1: core of people that would never take their money out
Speaker 1: even if they know it's fraudulent. So anytime you go there,
Speaker 1: you get paid. Anytime you go you get paid. So
Speaker 1: you look like the idiots you So you hear this space,
Speaker 1: then you quickly rush to the your lookout for the scheme.
Speaker 1: You say, no, i'm's gonna cry that guy on two crash.
Speaker 1: You take the money out. Your friends are still there.
Speaker 1: They get paid next morn. They're laughing at you listen
Speaker 1: to calor and living it. So you go back and
Speaker 1: put the money in. It's like musical chairs. The music
Speaker 1: stops you and I'm sitting down on your do That's
Speaker 1: I like your point to make about that specification you
Speaker 1: just have. You just can't know you smart people. And
Speaker 1: it's everywhere. Okay, you do property, they are there in property.
Speaker 1: They'll tell you don't buy the property by the c
Speaker 1: O of the whatever you go to, they go and
Speaker 1: buy parmoil. There is patients with it for you that
Speaker 1: don't buy palm oil. You will buy the storage of
Speaker 1: the palm oil. You live agriculture, and you're not gonna
Speaker 1: gonna do foul. Don't to do it again. You're gonna no, no,
Speaker 1: no no, buy pig five will give you twenty twenty
Speaker 1: five percent in one month. You live that one and
Speaker 1: go to bank and why are you doing bank? Let's
Speaker 1: do people. So it's everywhere. And the central theme, don't
Speaker 1: say you can link with everyone, is just high rates
Speaker 1: of return. High return but if you if you talk
Speaker 1: to your finance, it will tell you the volatility is
Speaker 1: the return that if you're risky is not what capital
Speaker 1: person prising model says. High risk that high return, that's
Speaker 1: what it says. So to a lay guy, the guy,
Speaker 1: I'll tell you if you put money for bank low
Speaker 1: risk leutony and put one for c aps high risk
Speaker 1: eraton which is not is not true, but it sells
Speaker 1: itself because it sounds. It sounds nice to go again.
Speaker 1: You guys know pointy schemes itself and even illegal, they're
Speaker 1: not in itself illegal is that it's not registered. It's
Speaker 1: not registered because the the curacy thing we have in
Speaker 1: our pocket is the oppon sky. But that's a different
Speaker 1: topic and it's not good if we open that. That's different. Okay,
Speaker 1: let's let's let's and.
Speaker 15: I says up it to us what you've just said,
Speaker 15: please for ae minute, right, I think I think the
Speaker 15: difference between every other thing we've listed here is the
Speaker 15: fact every access class we've listened here is the fact
Speaker 15: that if it happens in the in the within the
Speaker 15: FIAT space, if it happens in AG culture, if it
Speaker 15: happens anywhere else, there's someone to be held accountable.
Speaker 8: There's someone to take to court. I've been, I've been,
Speaker 8: I've been. I've lost money in the US market. And
Speaker 8: I sat at home talking about it, and a few
Speaker 8: weeks later.
Speaker 15: I got a letter saying, there's an assets sorry as
Speaker 15: against these guys, there's a class act against it.
Speaker 1: I just feel this up as the proof that you
Speaker 1: bought this should tell us the.
Speaker 8: Amount you put it on and you get your money back.
Speaker 8: And I got my money back. The challenge within the
Speaker 8: crypto space, I'm not I'm not, I'm not shooting it
Speaker 8: against the is the fact that when it comes there,
Speaker 8: these guys disappear. And you know why Nigeria's fall into it.
Speaker 8: Tell I wanted to be attentional to this.
Speaker 15: You're not looking it on this street, right, people always
Speaker 15: home or put this argument. Oh, in the last five years,
Speaker 15: in the last ten years, crypto has given the highest return.
Speaker 1: Way more than this, way more than that.
Speaker 8: So whenever we do that compare reason, whenever we compare
Speaker 8: cryptocurrency against other asset class, we are simply advertising it.
Speaker 8: And this is what someone actually told me that two
Speaker 8: days ago, when this Silex thing, when I talk about
Speaker 8: this next thing, that, oh, crypto has given highest return.
Speaker 1: What are you talking about? Right?
Speaker 15: So I'm just putting it there so we know that
Speaker 15: when we compare this assins class, we are simply telling
Speaker 15: people who are listening to us, who don't who may
Speaker 15: not know much, say, this is a direction to go
Speaker 15: if you want to turn one letra into one million.
Speaker 15: But the other class, or the other classes, there's someone
Speaker 15: to be held accountable, there's someone to hope, there's someone
Speaker 15: to put in jail.
Speaker 1: I have been a victim to that, and I was saved.
Speaker 1: I got my money back right with the proof.
Speaker 15: So I just have to put it out there for
Speaker 15: us know that this whole thing is just until the
Speaker 15: come of thank you.
Speaker 1: Interesting take giddy, giddy, talk to us, giddy. Were you?
Speaker 1: Are you a beck? Were you or were you a seaback?
Speaker 1: So what have you been viewed by a Ponzi scheme
Speaker 1: in the past?
Speaker 16: All right, thank you for the privilege. Okay, So I
Speaker 16: wasn't I libut my mother at sea becks. Of course
Speaker 16: it's also to me by.
Speaker 1: Someone but immedity I had it, already knew what it
Speaker 1: was when I turned.
Speaker 16: Did I say I have been I've I've had the
Speaker 16: experience with only skips in the past. I've actually lost
Speaker 16: money to them in the past, So I've blamed my
Speaker 16: lesson and I.
Speaker 1: Know that I knew them far. How how do you
Speaker 1: how do you know them to give or give me
Speaker 1: a hint?
Speaker 16: Yeah, I mean number one or reasonabel returns or returns million? Okay,
Speaker 16: how do you expect to get one hundred percent even
Speaker 16: in a year? If you go find me a hundred
Speaker 16: percent in the year, I'm going to raise my eyebrows.
Speaker 16: Let it go in a month?
Speaker 1: Right? What I what if I think? What if I
Speaker 1: think that's a normal return. If I've never invested before,
Speaker 1: I think all investments are one hundred percent? What if
Speaker 1: I don't know that investments don't give a hundred percent return?
Speaker 1: Because my brother exactly ships container and it makes one
Speaker 1: hundred percent, So why can't crep to give me a
Speaker 1: hundred percent?
Speaker 16: That's what this comes in financial education.
Speaker 1: That's one thing I just need that.
Speaker 16: There are two things that I identified, which is one
Speaker 16: reason why we keep fall living to this. Number one
Speaker 16: is financial literacy, which some of the people that actually
Speaker 16: felt the tenially add because some people actually generally too
Speaker 16: oh yeah, it's real, because they saw evidence, right, their
Speaker 16: friends showed them their alads and all of that, and
Speaker 16: they were like, oh, I mean it works yeat, So.
Speaker 1: Why I wanted to work for me? Right?
Speaker 16: So people are actually lack financial education, which that's why
Speaker 16: I'm really proud of what new people are doing here.
Speaker 1: You know, education, Igera and Fars.
Speaker 16: Number one, if not number the number two is the
Speaker 16: lack of understanding of value that we have. We actually
Speaker 16: there's a fundamental problem that we have, which is the
Speaker 16: lack of understanding of our family works. Right, It's typical
Speaker 16: average Nigeria wants to make money. I mean might not
Speaker 16: mugals in Nigeria, but most people, you know, they want
Speaker 16: to make money. Of course, really all looking for thesiers
Speaker 16: were possible. But so people want to make money without
Speaker 16: doing anything. Yes, it is possible when we talk about
Speaker 16: it very see passive investment. But there is a level
Speaker 16: where you know, you don't want to do anything, but
Speaker 16: you want to make a one hundred percent How.
Speaker 1: Those are working?
Speaker 16: Number two, even the company you're investing in, what is
Speaker 16: their value? How I didn't making money? How did they
Speaker 16: translated the value into money? Because and then essentially it's
Speaker 16: is value.
Speaker 1: That trusting to money.
Speaker 16: That's why we talk about investing yourself, educn see yourself,
Speaker 16: you know, acquiring mostue so that you have more value
Speaker 16: to offer the market and they make more money. So
Speaker 16: this company want value? Are they offer it? Tis you
Speaker 16: go value and they offered that makes them money.
Speaker 1: You understand.
Speaker 16: That's one thing that I see that we lack, and
Speaker 16: it's one thing that I think we need to start
Speaker 16: educating ourselves and our children because we for for example,
Speaker 16: I don't think I can't remember having a discussion you know,
Speaker 16: maybe I will special my parents about you know, value
Speaker 16: about of course, when it's value in terms of being
Speaker 16: you know, being an honest to man, being being you know, straightforward,
Speaker 16: those kind of things going. In terms of how money works,
Speaker 16: that's okay. What is you don't I mean you want
Speaker 16: to make money like they actually be fun puts down,
Speaker 16: you have to plan this, see for need to expect
Speaker 16: that there's actually some sort of value exchange for money,
Speaker 16: and you don't expect and I'm reasonable value exchange. For instance,
Speaker 16: let me say I see it, oh tomorrow they tell
Speaker 16: me I want to be like pilots make the post
Speaker 16: money and also tomorrow to be pilots without training it
Speaker 16: cannot happen, no matter how, no matter our.
Speaker 1: You know, much fun. But I see it happening. I
Speaker 1: see folks buy Mercedes bends because they are trading coins.
Speaker 1: I see this guy flying first class because he bought
Speaker 1: this investment sold it in the medical I see it,
Speaker 1: and nobody as said as impossible, they goes. I guess,
Speaker 1: I said impossibly, just jealous. But I see people making money.
Speaker 1: I see it. So who is wrong here? Okay? Thing
Speaker 1: is yeah, it's yeah. You might find you know, the
Speaker 1: old like for instance, see bess.
Speaker 16: There are people that you know, maybe they made the
Speaker 16: killing from it, right, but people that made money from
Speaker 16: ebun too. You know, people question the world because they
Speaker 16: knew that. Most of them knew that they were really
Speaker 16: on the back of what I could to see us
Speaker 16: in the future.
Speaker 1: But the people that made money from it. But is
Speaker 1: that's enough.
Speaker 16: Reason to stay because of that? I mean I saw
Speaker 16: every days right, Like I told you, I was so
Speaker 16: to the ideas. But I need that no matter what
Speaker 16: we believe, that anything won't being young to say that,
Speaker 16: I'm not going to want about it because I just
Speaker 16: you know, have upset to militia made I know something
Speaker 16: like this I'm not going to purch it, right.
Speaker 1: So now I'm saying that that's fally, that's if if
Speaker 1: points as now that was one thing that you know,
Speaker 1: you see, Maybe I think that.
Speaker 16: Maybe it's because of the prevailing level of producting we
Speaker 16: have most families, you know, the issue just trying.
Speaker 1: To really get food to me.
Speaker 16: It's nobody really is thinking of training that you're bring on,
Speaker 16: invests in training that children know out of you with
Speaker 16: our value works, you know, most people are just thinking
Speaker 16: of the next mail, Facebook all of that.
Speaker 1: So maybe that's I hear because so look at my point,
Speaker 1: everybody wants to play soccer because we know folks that
Speaker 1: are making money from soccer, right yes, so when we
Speaker 1: know put making money from crypto. So that's really the
Speaker 1: message has been distorted at the street level because we
Speaker 1: are not getting through to those young folks who say
Speaker 1: this is not the way. It's the same. So I
Speaker 1: hear you.
Speaker 16: I'm just being you know, or maybe not exactly this
Speaker 16: is not the way, but telling them to get you know,
Speaker 16: do your research, your teaching them out to do their
Speaker 16: research out it's possible to be It's possible to a
Speaker 16: young kid to you know, grow up to become like
Speaker 16: pushing me right, that's not what do your research and
Speaker 16: what does it take gotcha to do it? What I
Speaker 16: do thinks I need to put in, not that, oh
Speaker 16: I'm not training it and it happen. Ahead, do your
Speaker 16: research to find out. I just wanted to add some
Speaker 16: state contents.
Speaker 1: Just be back to the data. Going to conversation too.
Speaker 2: And I can't figure out why he repairs for less
Speaker 2: two comes than any other set of people in different continents.
Speaker 2: And if you understand if one of the advantage American
Speaker 2: has is that that's by the fact that it's a
Speaker 2: highly matriority to society.
Speaker 1: Personal finance is quite high.
Speaker 2: I think it is that that suws that about American
Speaker 2: understand personal finance.
Speaker 1: So that is quite high.
Speaker 2: But if you look at Europeans, for example, my dad
Speaker 2: is is lower and even as it's going in Germany,
Speaker 2: it's not too popular even in the Western world when
Speaker 2: you talk about other compared to many things.
Speaker 1: And the question is you.
Speaker 2: See that it's very difficult for you to come in
Speaker 2: on Lamborguinea driving on this day is the same. All
Speaker 2: the thing is to sell investment products to an average
Speaker 2: Frenchman or German or despite the.
Speaker 1: Fact that everyone stays good. So you now come back
Speaker 1: to Nigeria.
Speaker 2: So I don't just want to agree with the fact
Speaker 2: that provacts because I used to agree is that the
Speaker 2: country is poor because look at the average guy talking
Speaker 2: on bitter people invest that has some When putting for
Speaker 2: six thousand, hired a lawyer putting for thousand, I hid
Speaker 2: a finished child professional that works in a top investment
Speaker 2: band because this one is he puts seven on a DM.
Speaker 1: You know, yes to.
Speaker 2: Someone that was this is not somebody that this is
Speaker 2: someone that has tops applications. So the question to me
Speaker 2: was like, because I tried to figure out why we
Speaker 2: keep for the into this job. So the question the
Speaker 2: context is that you see, that's why I found out
Speaker 2: this kid's making and all this said Lambug in his
Speaker 2: toes that I can't look out the strategy to different example,
Speaker 2: and so.
Speaker 1: Why he's crying and so whats his dreams? You know?
Speaker 2: And we now can win problems now coming you want?
Speaker 2: So it Max, the separation is better than cure. You see,
Speaker 2: you cannot read a society that shoes so much. Effects
Speaker 2: shoes get rich too fast. It sell people that even
Speaker 2: though they are intel jam. But because they don't have
Speaker 2: much to show forward. You may them look like loser,
Speaker 2: make women look like trophies. You know, you see, it
Speaker 2: all takes to all this time.
Speaker 1: And that's why I said, I see. I like.
Speaker 2: That's why I like reading New York Times and working
Speaker 2: journel because when you read economists top agnoledge, they don't
Speaker 2: per perform and they perform Uwal perspective because you see,
Speaker 2: because well with imagine people.
Speaker 1: Human business, no one person. You need to understand why
Speaker 1: gans I kind of aggressive when it comes to money.
Speaker 2: Why you like when it comes to money when it's
Speaker 2: not because we are back in society, so we need
Speaker 2: to start looking at.
Speaker 1: Why is it?
Speaker 2: Because you can't be watching if they st start twenty
Speaker 2: four hours and expect to understand sec.
Speaker 1: You could go there. Yeah, I'm trying to.
Speaker 2: I'm just trying to because to be honestly that we
Speaker 2: also have our room because we're really need to check
Speaker 2: ourselves to that.
Speaker 1: Let me ask you, do you have the data for
Speaker 1: Kenny Kenya is almost like manjer we have English speaking
Speaker 1: young it t people. Do they also fall victim to
Speaker 1: this thing? Yeah?
Speaker 2: Yeah, yeah, so people are patterns of Kings and Nigerias
Speaker 2: are kind of see that's bad notice.
Speaker 1: And if you look at the you know, desperate, the
Speaker 1: fact that we're just speaking. We kind of loved similar
Speaker 1: demogram based on.
Speaker 2: The bes that I don't know about their financial I
Speaker 2: don't know, but I feel that we are kind of
Speaker 2: similar in so many things. But if you look at
Speaker 2: use that film for its calue, there were middle class people.
Speaker 1: Many of people that I saw, people don't the past.
Speaker 1: People were not really present people. People that could have fard.
Speaker 2: Are put to the minimum, which they were doing the
Speaker 2: same jobs like people are managers. Because for you to
Speaker 2: be able to want to dollars, you're not poor. In
Speaker 2: agial content are not poor.
Speaker 1: Most you can afford to transa the dollar. They're not
Speaker 1: point that everybody invests debates was not poor. That's true
Speaker 1: with that argument. The next one again is that anybody.
Speaker 2: That invested effects was not really a nutrients because you
Speaker 2: need some form of educational to understand that you used
Speaker 2: to send to set an address you go to get
Speaker 2: So it's not the literation level, but.
Speaker 1: The arica the culture.
Speaker 2: And you see the government really needs look because I've
Speaker 2: always said that if we keep accoming to my Americans,
Speaker 2: we have a way of specified man. If you look
Speaker 2: at Flan, if you are a great thinker, you reaverse American.
Speaker 2: Those that have pri you have a special America. If
Speaker 2: their posician, you have special America. Everybody has in America.
Speaker 2: No body is done good. That's a society in Nigeria.
Speaker 2: It's really about who the money, who has the coins?
Speaker 2: Who has I don't think so. I think we really
Speaker 2: need to go to the roots before we start. That's
Speaker 2: my own pill.
Speaker 1: Interesting, let me think that that's good insights, gool good one.
Speaker 1: That's for me? How you doing for me? For thank
Speaker 1: you very much. Yeah, I'm doing that. I'm very very
Speaker 1: very good. I'm gonna lit this just a little bit.
Speaker 2: So Alcott like what I say is one education one
Speaker 2: so the average see how people.
Speaker 1: Go to church so much because everyone needs a miracle.
Speaker 1: I'm like, because the same women think you've made.
Speaker 2: A miracle where one dred we're you know that's the
Speaker 2: same way you think of it? Work that will if
Speaker 2: I put this money in then you know me personally,
Speaker 2: I've never fear the follow fork because I've been investing
Speaker 2: and stuff my destines like since like eighteen, like on
Speaker 2: the seen out the Top broker and the last time
Speaker 2: that illegals, I was already so like as already familiar
Speaker 2: with programs and you know, you know, be studying.
Speaker 17: On trying to understand finance and naturally not your financially
Speaker 17: find aspect of life. So I already know what is
Speaker 17: count skin look like starting if I hate if I
Speaker 17: ever played at the new point that when you time,
Speaker 17: I let me business and you know and the DJ
Speaker 17: dyn see you know your capital because I know, hey,
Speaker 17: I can't find it and nucle did this to source
Speaker 17: you out or whatever whatever.
Speaker 2: So when people so when you think about it, when people,
Speaker 2: uh believe if I put this money out that people
Speaker 2: under present or whatever percent in two month, three months,
Speaker 2: definitely know my want.
Speaker 1: And I said into the city and circudly creates start right,
Speaker 1: olimited Sames. So the guys that invested were middle class
Speaker 1: folks that were educated well kind of kind of middle class.
Speaker 2: The fact that the fact so we always to we
Speaker 2: always look the one interested kind of make the blankets.
Speaker 2: But it's not necessarily black bed that, okay, because because
Speaker 2: someone a neuter, it means that that person that didn't
Speaker 2: be able school or you could I'm an I could
Speaker 2: really train in the fields and the expecting none of
Speaker 2: that fields get So if you're the fact that we
Speaker 2: dispress works today, man taking little siding money of getting
Speaker 2: clients doesn't mean.
Speaker 1: That they are. That's not when it comes to the vesting,
Speaker 1: I got you.
Speaker 2: Yeah, And the fact that no one time turns out
Speaker 2: to dollars that I know whoman who bought who.
Speaker 1: She brought it?
Speaker 2: There my four thousand, the others when they went out crazy,
Speaker 2: I don't think it's done.
Speaker 1: Been able to cross create twenty five understand them, so
Speaker 1: you see it.
Speaker 2: So doesn't necessarily mean that you are not still a
Speaker 2: literating the seals that they're trying to venture quickly, let's play.
Speaker 1: Give my possibility, but we gotta we gotta go.
Speaker 2: What is the what is the what is the what
Speaker 2: is the chances though you're taking the door that's the day,
Speaker 2: What is the chances that that door like goldn't be
Speaker 2: able to balance the value tomorrow.
Speaker 1: Let's and when you look at it. And that's the
Speaker 1: reason why I will never tell anyone.
Speaker 2: To invest in cryptical ancy, because there's no value that
Speaker 2: actually all.
Speaker 1: Its own speculation. Who no, No, that's that's that's your opinion.
Speaker 1: I hear you perfect hold on, Let's get day. Use
Speaker 1: days has been here for a while. Day us daus day.
Speaker 1: That's the every ready, let's get itched and thank you
Speaker 1: for this opportunity and lumit the thank you guys.
Speaker 18: I want to first of all appreciate you guys for
Speaker 18: holding this kind of space because I believe as many
Speaker 18: people listening, hopefully it will begin to get people to
Speaker 18: understand these schemes more and try to avoid them in
Speaker 18: the future. Okay, so quickly to address the topic you said,
Speaker 18: identifying and.
Speaker 1: Avoiding pansyng pyramid schemes.
Speaker 18: Okay, I think one of the A lot has been
Speaker 18: said and a lot of points I've been raised. So
Speaker 18: just what I wanted to add as well is what
Speaker 18: you know has formal fear of missing out. You know,
Speaker 18: when people see their friends or their family members pushing
Speaker 18: something showing proof like you've said, and they really want
Speaker 18: to king, especially in our society where a lot of
Speaker 18: people there's.
Speaker 1: A lot of poverty actually in the land. Then I
Speaker 1: want to also.
Speaker 18: Say that you know that film now is also another
Speaker 18: term is like people when we talk about financial literacy
Speaker 18: or financial education.
Speaker 1: From my personal experience, I've seen that people are.
Speaker 18: Not really willing to invest the time to learn about
Speaker 18: the basics of investing, like personal lands, all those kind
Speaker 18: of things. Many times I invest in it so like
Speaker 18: I would come myself like an average investor. Both in
Speaker 18: knowledge and the tens have delved into so many people.
Speaker 18: Many a times people ask you to tell them what
Speaker 18: to invest in rather than learning how to studying, maybe
Speaker 18: study a company, maybe to perform some fundamental analysis.
Speaker 1: You know, people need to know that building world for
Speaker 1: the long term requires time.
Speaker 18: You know, they need to learn the basics like compound interest,
Speaker 18: like the value of compounding over a long time. You know,
Speaker 18: it takes time to build something that sustainable. And then
Speaker 18: I also like to say one thing. You know, I've
Speaker 18: heard a lot of people talk about sex, you know,
Speaker 18: as if it's a panechea like something that we actually
Speaker 18: prevent this kind of scamps from happening. But I want
Speaker 18: to tell you that if I'm sure of coming you
Speaker 18: are familiar with the mode of investment scandal in the US.
Speaker 18: They are in they are the guys, the companies or
Speaker 18: whatever he was putting together. Then a lot of people
Speaker 18: invested in it and they were fully sex certified, you know.
Speaker 18: You know, it's also the keating I believe is that
Speaker 18: if you need to castious, you need to take your
Speaker 18: time to study any opportunity that comes. My My guiding
Speaker 18: principle is that when a lot of people something, Yeah,
Speaker 18: when a lot of people are pushing something, you know,
Speaker 18: there are a lot of crowd, I feel already that
Speaker 18: I've lost the you know, the game there because I
Speaker 18: think there are more opportunities when maybe.
Speaker 1: Something is not much knowledge, you know. Yeah, So that's
Speaker 1: just thank you.
Speaker 19: Very much for the opportunity you guys, I mean, guys,
Speaker 19: hold up, if I just journey, we're just trying to
Speaker 19: talk about the pond schemes, good Nigeria, big one just
Speaker 19: blew up and we'll give a few tips.
Speaker 1: If just go through the tips we give at the
Speaker 1: very top right with the number one, make sure it's
Speaker 1: sex registered one miss sex registered. Both the company and
Speaker 1: the product have got to be seck registered. Yeah. We
Speaker 1: also said, when you hear a high returned investment a
Speaker 1: high ap y, you're in a very very careful How
Speaker 1: high is high? How far away is it from the
Speaker 1: risk free rate? If it's too far, it's probably a
Speaker 1: red flag you want to basically take. But a more
Speaker 1: look deeper. If we say, if someone tells you I'm
Speaker 1: giving you a guaranteed return, that means it's selling you
Speaker 1: a bond. No matter how it's couched, it's a bond.
Speaker 1: If it's a bond, you want to find out how
Speaker 1: you're going to pay back this bond. You have a
Speaker 1: sinking fund or are you going to sell something to
Speaker 1: pay me back? Ask those questions, hear what they say,
Speaker 1: see that makes sense to you. Also, there's no insurance
Speaker 1: for investment losses, and anyone telling you if you invested
Speaker 1: us you can buy insurance against the loss doesn't exist.
Speaker 1: So that's also a red flag for you. Why you
Speaker 1: want to pay, use checks or transfer and pay the
Speaker 1: ideas to create a paper trail for yourself. So if
Speaker 1: thating happens, your name is in the system that you
Speaker 1: give those folks money. That's also going to help you
Speaker 1: get the money back. At least read the prospectors what
Speaker 1: they give you. Read it to keep a copy right
Speaker 1: true to you have advisor. Ask if it's something you
Speaker 1: want to invest in you know, and again verify the
Speaker 1: investments on the sex website. Invest in people. There are
Speaker 1: no friends in investing writing because your friends are investing
Speaker 1: doesn't mean you should invest, and of course avoid greed.
Speaker 1: So if you think that you just want to follow,
Speaker 1: it's not going to be a superstar. Don't just keep
Speaker 1: it simple, really, guys. If it smells like a dog,
Speaker 1: walks like a dog, it's a dog. Right. If it
Speaker 1: looks like ponz talk like Ponzi, it's ponz don't over
Speaker 1: analyze it. Just move on. Right, Okay, what desk two?
Speaker 1: How do sir? You've got a plus modest two? More's
Speaker 1: two robots going once, going twice? That's hello, ellos? Is
Speaker 1: it go ahead? Good evening.
Speaker 20: This has been a wonderful space, and I would like
Speaker 20: to say that most of the things I wanted to say,
Speaker 20: A lot of people have mentioned a fable, Lumidia and
Speaker 20: a good number, so I would just try to break
Speaker 20: it down and be very bif about it. I've beken
Speaker 20: two things Reasin for fallings on this for discipons, they schemes,
Speaker 20: and then little on sick right on the first is
Speaker 20: I really believe grid is a very big part of it.
Speaker 20: Why because of two things, first knowledge, second historic house.
Speaker 20: Now starting with the second historic houses, looking at what
Speaker 20: has previously happened in the market, a lot of similar
Speaker 20: schemes that have come out the same, return the same,
Speaker 20: almost the same everything, eliminal citizen everything right.
Speaker 1: So and you would agree with me that most people.
Speaker 20: That are involved in these adults which mostly are modern teenagers.
Speaker 20: So you count back and record has to when they
Speaker 20: the very very first popular hours happened. And you know
Speaker 20: that these people have been in this market enough to
Speaker 20: know that this is how these things happened, and this
Speaker 20: is how they return to come out.
Speaker 1: O knowledge is I really don't believe it's eating of.
Speaker 20: Literacy or anything, right, just a little personal info. I
Speaker 20: work in investment management and business performance. Before I entered that, right.
Speaker 1: Or as I've entered investment management. One thing I I've
Speaker 1: come to understand is that.
Speaker 20: Understanding investment doesn't really who make house off and technical
Speaker 20: stuff because when we talk about literacy here, it's basic.
Speaker 1: Maths one plus one.
Speaker 20: Because and I'm glad that lots of people here have
Speaker 20: mentioned mentioned asking the.
Speaker 1: Very busy questions, which are one of the things you listed,
Speaker 1: asking the very very very busy questions.
Speaker 2: And like one of our senior people would always say,
Speaker 2: if it doesn't make common sense, it would not make
Speaker 2: technical sense.
Speaker 1: Forget it. So if you cannot ask that very very busy.
Speaker 20: Question and know that, oh this does not make it
Speaker 20: one plus one sense, then it's not something of knowledge, right, And.
Speaker 1: I think is also eating of discipline.
Speaker 20: And I know one thing that also drives it is
Speaker 20: thinking of, oh let me do this area and get
Speaker 20: and get get off.
Speaker 1: So it's not of something of the victim of that
Speaker 1: kind of thing.
Speaker 20: I would believe that most people getting involved in this thing,
Speaker 20: the the they have an at least an inkling.
Speaker 1: It's just maybe also the.
Speaker 20: Discipline of keep keep keep your money one place, like
Speaker 20: help keep your hand one place.
Speaker 1: So it's it's that thing of discipline too. On the
Speaker 1: second one is sick. I also believe that Hello, we're
Speaker 1: gonna move on. It said very quick. Yeah you're thinking, yeah,
Speaker 1: you've You're taken about the three minutes I usually give.
Speaker 1: So I put you the comments right, perfect, Let's get
Speaker 1: Joe boy. Hello, thanks so much? Joy?
Speaker 13: What's up?
Speaker 1: Joy? Did you do? Did you? Doebs? Now you say
Speaker 1: what was wrong with seabecks? If someone came to you
Speaker 1: and said I could give you a hundred percent in
Speaker 1: one month, what's wrong with that? Not his experience?
Speaker 13: Like I was a guy that in mment, so I
Speaker 13: understood things from the right perspective because you.
Speaker 1: Know, once once before the play, once you know you
Speaker 1: shouldn't fall, it's a good time. You felt it at
Speaker 1: that's what you got your strife from.
Speaker 21: It is I didn't want to loose because I was
Speaker 21: a guy there and all of that. So a lot
Speaker 21: of times we got money from bonosis and all of that,
Speaker 21: but then a lot of the people you encouraged to.
Speaker 1: Do the the most. So it became me. You know,
Speaker 1: it's plus one minus one.
Speaker 13: So that's where the problem is perfect, okay, So let
Speaker 13: me start with some experience I got there.
Speaker 21: There was this particular video that they shoot us and
Speaker 21: they never asked us anything.
Speaker 1: In doing guy that's school about it.
Speaker 21: It was about fleas in a jar, and it was
Speaker 21: about you know, if you lock fleas up in a
Speaker 21: jar for.
Speaker 1: Long enough, when you opened the cover of the league,
Speaker 1: the flea would not fly. It is not fly above
Speaker 1: that lead. So I cant don't thinking about it. What
Speaker 1: was the meaning of that?
Speaker 21: And the reality is that a lot of people that
Speaker 21: fall into these schemes have their minds filled in such
Speaker 21: a jab that they cannot think about it. That's what
Speaker 21: I see in most times because when MMM went down,
Speaker 21: there was an evolution.
Speaker 13: He went into a lot of Telegram ad jobs, sorry
Speaker 13: telegram point these schemes.
Speaker 1: You know when I say telegram, that is people.
Speaker 13: Were actually doing with Telegram groups and a lot of
Speaker 13: that not meaning that Telegram was actually part of it
Speaker 13: as a business or his social media platform.
Speaker 1: So it happened.
Speaker 13: You know a lot of them started field and then
Speaker 13: what was the thinking the mindset.
Speaker 1: Of the people participating Eli b elie b eli.
Speaker 13: So when a new scheme comes out, they think of
Speaker 13: how long as they're not Once it's been more than
Speaker 13: a month, they say, no journey, it's a crash. So
Speaker 13: when it's a wee could a short time, they won't joint.
Speaker 13: So don't be surprised. Another will pop up.
Speaker 21: And people will joint because the mindset still comes from
Speaker 21: if I'm early, I'm able to.
Speaker 1: Retual a lot of money, and when I've got gott.
Speaker 13: In my capital back, I recycle the profit into the scheme.
Speaker 1: That's how a lot of people that do this theme thing.
Speaker 1: Then at the.
Speaker 21: Point everything went down, people started going into real business. Okay,
Speaker 21: that I mean like doing point these schemes with regital
Speaker 21: business names, trying to use those those certificates of incorporation
Speaker 21: and all those things as you know, some kind of
Speaker 21: validation to to separate.
Speaker 1: Them from other point of the schemes. But the same
Speaker 1: thing is happening.
Speaker 21: I remember it is excessy was something like this people
Speaker 21: brought in to me. I said, this is a football
Speaker 21: betting thing. Technically does it have a betting like? I said, No,
Speaker 21: you don't need that, you don't need that journeally, you know,
Speaker 21: it's the same mindset that happened them for me, I'm
Speaker 21: not going to be surprised many people will continue to
Speaker 21: folk create to a lot of these schemes because not
Speaker 21: because they don't have knowledge or anything. It's because of
Speaker 21: that mindset and they do not really nate to Nigeria.
Speaker 21: A lot of international people also engage a lot of
Speaker 21: these things. I know your friend I was telling recently
Speaker 21: of one of these schemes I engage in an inlet
Speaker 21: a guy who is in Journey that invested over eighty
Speaker 21: thousand dollars in those type of schemes.
Speaker 1: So they've been jumping around from one to the other,
Speaker 1: and every time I chat him up he's in one
Speaker 1: new scheme or the other.
Speaker 21: All these guys take all these resources and you know,
Speaker 21: they continue to move in that way. The region I
Speaker 21: say is a lot of people have heard, is that
Speaker 21: there's actually a lot of regulations that prevents people from.
Speaker 1: You know, getting this kind of mass adoption.
Speaker 21: I think the mistake of this type of scheme that
Speaker 21: it should have been called ALI should have investigated al
Speaker 21: You know, if you try this kind of thing in
Speaker 21: all the developed countries, a lot of times we gots
Speaker 21: quickly can turn to it. In fact, the first thing
Speaker 21: that what happened is that the website will be will
Speaker 21: be you know, to be gone within a few days.
Speaker 1: But in Nigeria, here you'll find it special way home. Politicians,
Speaker 1: government workouts are part of this game.
Speaker 21: I was surprised to see that SEC actually advertised on
Speaker 21: the radio station sending Apple to Evy.
Speaker 1: So my complain is that a lot of times, you know.
Speaker 21: People continue to all victims of this time and come
Speaker 21: of the the ruse they used to trick them into.
Speaker 1: It is making them believe that this is crypto. This
Speaker 1: is crypto cuiptally different from the gamest the same differentiation
Speaker 1: if it course, my between crypto and ponzi or crypto
Speaker 1: and Ponzi. And here is a good point in that
Speaker 1: this guy, this guy, no hold on, this guy, get
Speaker 1: hold on? Hold up. Okay, I think we've got we
Speaker 1: get the point. These guys are going to advertise on
Speaker 1: the radio, on the TV. I know I've seen some
Speaker 1: other guys agricultural skin that feel that's what I'm on
Speaker 1: a very very popular TV station. And they're not asking
Speaker 1: for to invest. But when they go there, people sort
Speaker 1: of see legitimacy. All these guys are here, they are
Speaker 1: talking about growing go co, so they must legit and
Speaker 1: they go. So maybe there's some responsibility there for the press,
Speaker 1: the mainstream media as we call them. You've got to
Speaker 1: be a bit more responsible. You just can't platform everybody.
Speaker 1: Everybody just can be a platform to talk about They
Speaker 1: will bring a crypto guy, the will they talk about
Speaker 1: Trump's tariff. The idea is the guys going to wear
Speaker 1: his T shirt and talk and put his T shirt
Speaker 1: on your TV before guys.
Speaker 22: Because I remember whether I was writing for some of them,
Speaker 22: they presentations on borgized and make guys on how to
Speaker 22: report and the digital But you see, there's another problem
Speaker 22: we have like the the Vitation, and many of these writers.
Speaker 1: Are no financial history. Whenever you don't have national.
Speaker 2: Proudly don't understand that when you are pushing out a
Speaker 2: product like for example, if you see a product Matches
Speaker 2: for example, like that is not coming from the writer
Speaker 2: is a sponsored.
Speaker 1: Posts and people speak pulling for it.
Speaker 2: So now the other disponsal posts, it's written that it
Speaker 2: came up. This is not an endorsement because we're still
Speaker 2: the fact that even putting the sponsored posts does more
Speaker 2: to really exclude the information from being missing formed of misinterpreted,
Speaker 2: and some people who read the down Leader and so
Speaker 2: it's really is a very scanning pascity and radio the
Speaker 2: biggest corporates because radio has big deeper.
Speaker 1: Penetration in your area than the Internet. Times and many.
Speaker 2: Based on what I've found out, because a lot of
Speaker 2: people who believe on radio for much information.
Speaker 1: Mm hmm, interesting point, very interesting point. Let's get comic
Speaker 1: poets from comic poets, what's your take on what are
Speaker 1: we doing among that? Okay, Jim, you and every one, Oh,
Speaker 1: I mean it's our way of greeting something like that.
Speaker 1: Best thank you. I want to thank every everyone give
Speaker 1: for actually bringing this kind of speace to life. Please,
Speaker 1: can you guys say any.
Speaker 2: Okay, yeah, yeah, I'm yeting you got ye, go ahead,
Speaker 2: go ahead, just be go ahead yeah yeah yeah yeah.
Speaker 1: So for bringing this kind of.
Speaker 23: Space into life actually is very very good and an
Speaker 23: equating way of sensitization. Actually the people is identifying and
Speaker 23: avoiding Pozi and Prayman scheme.
Speaker 20: Yeah, actually, rot I can say to this is yeah,
Speaker 20: identifying years we're.
Speaker 1: Going to identify, but avoiding of this scheme in Nigeria.
Speaker 1: Can I can just be eradicated? Its canous avoiding Nindeian.
Speaker 20: It can be rected because there are some situation that
Speaker 20: actually leads people to to this pond, this game or
Speaker 20: something like that, and most of it is actually what
Speaker 20: it's actually tagged to, to government.
Speaker 1: Actually to government whereby I'm what you're saying, I'm falling.
Speaker 1: I'm not falling, bro, I'm okay, okay either can you
Speaker 1: say I can hear you, but not funny, I'm not
Speaker 1: saying what you're saying. That's what I'm saying, Okay, Okay.
Speaker 20: Actually what I'm actually seeing is that what actually leads
Speaker 20: to this police scheme. Everything actually comes from what's from
Speaker 20: me from governments like lack of job, financial financial security people.
Speaker 20: So this actually what actually prompts people to to this
Speaker 20: kind of scheme. Something that's which I target to be
Speaker 20: that it cannot stop.
Speaker 1: It's very very very real for.
Speaker 20: It to stop identifying as we as we are talking
Speaker 20: right now, there's the police scheme that are still running.
Speaker 20: There's the police scheme that's still running. Which because actually
Speaker 20: I started police skiing, I went before coming to this
Speaker 20: kind of internet speech of something I started with.
Speaker 1: Pulicedkin that was in twenty I mean, he started with
Speaker 1: a posy scheme. What does that mean? Yeah, what I
Speaker 1: mean is that.
Speaker 20: When I was why while growing into this financial financial
Speaker 20: understanding of it thing I came, I came through knowing
Speaker 20: about poses scheme like I was involved in it, not
Speaker 20: what I mean.
Speaker 1: So yeah, from twenty sixteen whether away when the likes
Speaker 1: of MMM and then you.
Speaker 20: All this kind of this kind of this thing.
Speaker 1: When it comes during that time. So and they're just
Speaker 1: background background noise around you. So if you don't mind,
Speaker 1: he's got background noise around you. So if you can
Speaker 1: fix that, you can come right back. I'll put back on.
Speaker 1: Let me get modestes, Okay, thank you, sir, I appreciate you. Yeah,
Speaker 1: are you am I audible? Yes? Amazing, Okay.
Speaker 24: I mean there are two things I wanted to say
Speaker 24: about this issue about poncys came and how mainly part
Speaker 24: client Nigeria I've lived quite a long time in Europe
Speaker 24: and nath India. Is that in Europe there's this lottery
Speaker 24: that is stayed wrong and that every it's like every
Speaker 24: family participates in it. You put one pound or two
Speaker 24: pounds or one euro or two euros and maybe you
Speaker 24: wait on Fridays for something to drop your way, and
Speaker 24: then every week somebody weighs two million, three million, four million,
Speaker 24: ten million depends on the.
Speaker 2: Lottery and that kind of check this issue of poncy scame.
Speaker 2: It's not that Nagurians are unique in it. It's just
Speaker 2: that we don't have a well regulated they have confidence
Speaker 2: building national lottery system. We have people can lay out
Speaker 2: their they are those they are greedy things that come
Speaker 2: with humanity. And as most of you in.
Speaker 24: American country, every state have their own lottery skame. The
Speaker 24: lottery is something with the pounds escape. You put one pound,
Speaker 24: you win one million. You put two or two pounds
Speaker 24: or two euros, you win ten million. So it's almost
Speaker 24: similar about issues that because that one is done at
Speaker 24: a very very regulated level and people don't see it
Speaker 24: as so big, so you don't have to put twenty
Speaker 24: thousand expecting one hundred thousand. So like somebody earlier talked
Speaker 24: about a bitcoin and all of that not making ways
Speaker 24: in Europe.
Speaker 1: That's the reason for that.
Speaker 2: It's not that they are very very religious and they
Speaker 2: are very very financial literal everything.
Speaker 1: If because two things, they.
Speaker 24: Have financials, having security, something that their plansions.
Speaker 1: Are already guaranteed.
Speaker 2: They are in their jobs, they have both their homes,
Speaker 2: you know, fourty five directors of Bodier homes, and they
Speaker 2: have regular jobs.
Speaker 1: So it doesn't mean that if in England where I
Speaker 1: live now.
Speaker 2: They even bet for everything years better. Every street in
Speaker 2: England is full of better jobs and people going in there,
Speaker 2: I mean.
Speaker 1: Doing doing the coffee.
Speaker 24: Every shop shot that are a part from the batting shop.
Speaker 24: So that's what I'm trying to explain the thing about
Speaker 24: it is that we need something that we can task.
Speaker 24: We need something that is nationally recognized, something that is
Speaker 24: people can actually go there.
Speaker 1: Like if you live in a rural have your state.
Speaker 24: You can put one part and then we do twenty
Speaker 24: million in the nation in the state lottery, and then
Speaker 24: if it is run over many years, people who stop
Speaker 24: looking for all these ways of making money through pontikime
Speaker 24: because points are actually filling in a void in the
Speaker 24: market that could be channeled to something better, you know,
Speaker 24: at least even the one I really really break my
Speaker 24: heart is this bet Najera. It's everywhere, you know, when
Speaker 24: you see young people from fourteen fifteen seventeen going to those.
Speaker 1: Shops, I pity them. But you can see why they
Speaker 1: are doing it.
Speaker 2: You know, you can see, oh, they have this illus
Speaker 2: that I can break it matches in Europe and then
Speaker 2: if I pready seven, I will win forty million. And
Speaker 2: then you see that they grew up like that and
Speaker 2: then with that kind of foundation when they see somebody
Speaker 2: come along to say, I mean as a kid, I saw.
Speaker 1: My mom and I But that's an interesting angle you
Speaker 1: bring about that there's no outlet, you know, like there's
Speaker 1: no outlets for not in the UK. During the Olympics
Speaker 1: doing the Olympics here in England.
Speaker 24: The National Lottery actually spent nearly two.
Speaker 1: To three billion pounds to sportor the Olympics. Okay, let
Speaker 1: me ask, let me, let me ask you. Are you
Speaker 1: saying that we replace this thing with with gambling or
Speaker 1: I see something there's no gambling.
Speaker 2: Lottery is gambling, but the usual a bat lottery that
Speaker 2: people don't think that it's gambling because it is well troughed.
Speaker 2: The UK lottery system me so grounded. I mean when
Speaker 2: I say grounded, it is like forty to fifty or
Speaker 2: sixty years. And if I has a high level of
Speaker 2: trust that if you go to that shop and pay
Speaker 2: one pound in your lottery, you might win one million
Speaker 2: and you'll get the money. So at the end of
Speaker 2: the day you see people say it's a bomban.
Speaker 1: I used to So what what do you think in
Speaker 1: Niger would be the replacements activity?
Speaker 24: If the place my activities that if let's say, let
Speaker 24: me give the example that Demos takes.
Speaker 1: Is running a lottery. Let be to be fair on
Speaker 1: the financial side of it.
Speaker 2: Let me give you a typical statistics in the UK
Speaker 2: here and they said there I put the numbers down.
Speaker 1: Nearly two thousand millionaires are being created by lottery tickets,
Speaker 1: by notry, by National Lottery.
Speaker 2: Because every week in England there are actually they do
Speaker 2: it a run four for a national lottery twice a week.
Speaker 2: That one is a guarantee somebody will always win a million,
Speaker 2: so the person must be in England to win that.
Speaker 2: And then they have the other condition that they have
Speaker 2: about three or four or five because what is every
Speaker 2: day six days away, So when you look at it
Speaker 2: over the year, you can actually say merely four hundred
Speaker 2: people or five other people have been made billionaires and
Speaker 2: from the logical lottery, so that becomes an athletic in
Speaker 2: terms of weight creation.
Speaker 1: And some people feel that, they say, I'm less than
Speaker 1: to put two pounds.
Speaker 2: So if we have something like that in a state
Speaker 2: like Game of States, and people know that when they
Speaker 2: win they will actually get the money, they won't go
Speaker 2: to somebody who promises them fifty pounds fifty thousand, one
Speaker 2: hundred thousand pounds of scheme because they know.
Speaker 1: That if they do their stead lottery.
Speaker 2: Have for f you to be used for good causes,
Speaker 2: for charities, for school education, for investment and apps investment
Speaker 2: in all aspects of in those charity social services, so
Speaker 2: they can use that. And the issue that you need
Speaker 2: to be transparent, they need to be accountable. I'm sorry,
Speaker 2: I think I'm taking more Yeah, exactly, I mean I
Speaker 2: hear you. I want trying to get more information from
Speaker 2: but I heard the point I'm making. You want the
Speaker 2: youth that are out there that are looking at this
Speaker 2: points of schemes as their only way out of whatever
Speaker 2: they are to also have a second outlet.
Speaker 1: Okay, that's your take. I hear you, completely, hear you.
Speaker 1: That's question.
Speaker 2: In America, for example, you can be and posy cam
Speaker 2: Be because I feel gamb is not this popular.
Speaker 1: Lottery has this take of it being like a social thing.
Speaker 1: It's not like the lottery is gamming. But the way
Speaker 1: they package it in America, you go to the gas station,
Speaker 1: you buy a lottery ticket, you buy your fuel, you
Speaker 1: buy one dollar the big, big, big jam lottery, and
Speaker 1: it's a state run. It's state to run. So because
Speaker 1: the states run, it looks official. You know. That's what
Speaker 1: he's saying, that they stayed all the time packages. Then
Speaker 1: then you can go to a casino and gamble. It's
Speaker 1: the same thing, but the state sort of cleans out
Speaker 1: makes it beat socialist and all that. I hear him,
Speaker 1: you know, but you know, I just get up. You're
Speaker 1: looking at gambling again. That's on the epidemic that we
Speaker 1: have to talk about of the gambling. Oh my god.
Speaker 2: Yeah, but that is the problem we have is that
Speaker 2: at the moment we are not taxing the gambling people.
Speaker 1: And that is my pain. I'm trying you.
Speaker 2: It pains me a lot. I mean, Prices five runs
Speaker 2: the gambling the haole of.
Speaker 24: Africa because when you see them in Nigeria plugging to
Speaker 24: all that API and the plugging astricts.
Speaker 2: Five there is actually taking all the money. The lady
Speaker 2: that formed the HEA in England started with only one
Speaker 2: hundred billion. Now it's a billionaire because of the API
Speaker 2: and so to all these people in Africa. But the
Speaker 2: question is what are they giving back to the society.
Speaker 2: Nothing and there is not the fact this is not
Speaker 2: even regulated at all, and it's the very morning making
Speaker 2: tame for the government. They need to really really do
Speaker 2: it at the back end, and said.
Speaker 24: Look for every one pound you put in Nagela father,
Speaker 24: I wanted to write the paper because.
Speaker 1: We gotta move. I can you Yeah, no, I what
Speaker 1: I said is fine, but I just want to give
Speaker 1: us a chance to speak. You know, I I I
Speaker 1: get what coming to with this it's sometimes what's what's
Speaker 1: exploring complicated? Just yeah, and it's rather unique as well,
Speaker 1: because like you said, there's no there's National lottery Nagi
Speaker 1: you're aware of that's the National Lottery. I know while back,
Speaker 1: I had some guys on the space that were doing
Speaker 1: this scratch card thing and also the lottery and also
Speaker 1: like license by the government, so you if you buy something,
Speaker 1: you qualify for a scratch and that scratch wins you something.
Speaker 1: It was also I had never heard of it before,
Speaker 1: but they were also in Nigeria doing that, So completely
Speaker 1: agree with you. But yeah, let's see, let us see.
Speaker 1: Let's say, why Agberannie, Why a Bernie? How are you doing?
Speaker 1: Why going once to thank you so much? Appreciate that?
Speaker 1: Why you're going twice off the tech? Your on your
Speaker 1: own life afly? Actually good, I'm here, we are having
Speaker 1: thank you for this opportunity. So what I would say is.
Speaker 2: They are I guess my ways is there are some
Speaker 2: of these things that are set out from day one.
Speaker 1: Too.
Speaker 2: You know, swell people look at gets people and really
Speaker 2: close after some time, well they're seeing, well, well they
Speaker 2: the model that they.
Speaker 1: Want to that.
Speaker 2: There are also some of them that comes out as
Speaker 2: an investment platform.
Speaker 1: But the only thing is that they you know, they
Speaker 1: are not deefinitely.
Speaker 2: What I do is any thing that you have I'm
Speaker 2: going to put my money on that is beyond I
Speaker 2: look at.
Speaker 1: The Treasury treasure views rates, I look.
Speaker 2: At the bonds d I look at h I look
Speaker 2: at over night levels.
Speaker 25: If if these reads, if the rig we are offering
Speaker 25: me is beyond go the banks rates and fixed deposits,
Speaker 25: the ticketing views rates are.
Speaker 1: Good and good to question it. Now, there are a
Speaker 1: couple of them that are set out to do the
Speaker 1: business of investments.
Speaker 2: You literally that some of them don't end up you know,
Speaker 2: you know, formalizing their processes with sight a lot of that.
Speaker 1: So there are a couple of them. But the problem
Speaker 1: that they have I see that they have with some
Speaker 1: of some of difficult take short term.
Speaker 16: Phones from people from this short term.
Speaker 2: Yield or maturity period and carry do wns and go
Speaker 2: to a long term investment like for example, I don't
Speaker 2: want to call it. There are people that take the
Speaker 2: positis from people, takes from people and critician investment.
Speaker 1: What we called realistic and say, oh, give you your
Speaker 1: money back in six months.
Speaker 2: It doesn't make any sense because we are taking short
Speaker 2: short term points into longer, longer term investment. So if
Speaker 2: you if you, if you collect money from people to
Speaker 2: go put his day in real estate, are you you
Speaker 2: are you are you are.
Speaker 1: Writing that investments?
Speaker 2: They take the investments pepper investment contracts that has a
Speaker 2: matality of six months or white years.
Speaker 1: They all be this, Mr.
Speaker 2: You want need to talk as a business because you
Speaker 2: exactly so anything real estate that is below like.
Speaker 1: It's less than three years, I'm not gonna cook my
Speaker 1: own day.
Speaker 2: There are a couple of them in real estates that
Speaker 2: is having issues with people, people that they apology, they
Speaker 2: posing customers deposit and they.
Speaker 1: Are to play back and real estate takes time.
Speaker 2: They are all that some of them that I do funny,
Speaker 2: you know, we sales sort of found from investments.
Speaker 1: That are also crumble. They really set out to do it,
Speaker 1: but at the end of the day, it's just that
Speaker 1: the way they.
Speaker 2: Structle the investments, they probably shorter majorities. They need short
Speaker 2: term matoralities six months on eighteen.
Speaker 1: Days, five days, some of them they got nine ninety days.
Speaker 2: How can you do how many?
Speaker 1: How many? For I'm recite people. You have to be
Speaker 1: able to pay your your your your your depositors money's back.
Speaker 1: So it doesn't make any sense.
Speaker 20: So it's not for me.
Speaker 1: It's not all of them that are that are set
Speaker 1: out I think for this thing sort of them really
Speaker 1: need there wants to do business.
Speaker 2: But because also nineteen that's very like, that's a very
Speaker 2: impeture people that everybody, anybody that you're going to do,
Speaker 2: they're going to ask for their phone and you're not
Speaker 2: talking about anything below six Mortsch group of ALOGI their
Speaker 2: all so and this is that's why they also do
Speaker 2: you do do short term, short term mathorities with these people,
Speaker 2: because really somebody can love except they are collecting those
Speaker 2: monis and the opportunity in treasure with some boards, if
Speaker 2: you're collecting on money from people and putting the treasure
Speaker 2: abuse the least treasure with bio authorities night, night and days.
Speaker 1: So and it's because besides and today I don't make
Speaker 1: any sas gotcha, Yes, I appreciate that. I mean, that's
Speaker 1: the take on the financial side. Compare the options the
Speaker 1: you are given with the treasure bill rates the fixed
Speaker 1: in comrade because again, like he's saying, if they can
Speaker 1: make money, why aren't they going to the bank to
Speaker 1: borrow money and invest at fifty percent. You know, why
Speaker 1: are they taking money from you. They can simply go
Speaker 1: to the bank, borrow ten billion, investing their scheme and
Speaker 1: make twenty billion and pay back the bank. So they're
Speaker 1: not doing it because they can't do it. It's appointing
Speaker 1: pyramid scheme. There's any money to pay old mo old
Speaker 1: obligations and all that. Nice one, Mariah, Moriah on the
Speaker 1: scott We've got the flow hyding, So go ahead, Mariah.
Speaker 2: I'm trying to yes, sir, I can okay, yes, good
Speaker 2: even in Carlo and good evening everyone, Yes, sir, so.
Speaker 1: Yes, I just want to talk about you know, depons
Speaker 1: this game in Nigeria.
Speaker 2: So well, what I wanted to say, people have actually
Speaker 2: said it, but here is just what I want to
Speaker 2: you know, allow to it.
Speaker 1: So pons this came, you know, it has actually come
Speaker 1: to stay in Nigeria. It's not going anywhere. It's going
Speaker 1: to be part and parsle of our society.
Speaker 2: And here actually you know the two major reasons as
Speaker 2: to why you know, Ponsi Cheme will forever be part
Speaker 2: of our society.
Speaker 1: So first is as a.
Speaker 2: Result of you know, the digitization of finance. And then
Speaker 2: secondly is as a result of you know, behavior behavioral finance. Okay,
Speaker 2: so first, which is the digitization of finance. You know,
Speaker 2: finance has been digitized to.
Speaker 1: A very great estent.
Speaker 2: You know, before it used to be investors, you know,
Speaker 2: some marchants, some business people who always buy stock, you know,
Speaker 2: buy shares in companies. So before investments was you know,
Speaker 2: actually a very very exclusive you know venture. But these days,
Speaker 2: I mean I can actually be somewhere in a bullet
Speaker 2: but an apagia in legors and then be investing in
Speaker 2: shares in America. And so how does that post potential
Speaker 2: rigs or how does that you know, bring ubout rigs?
Speaker 2: Brings about rigs because you know, you see elements, you
Speaker 2: see different people who are offering investments, scheme, investment advice,
Speaker 2: investment portfolios and so on, and so they actually become
Speaker 2: pree so for you know, investments comes.
Speaker 1: And then secondly, which is behavior.
Speaker 2: For finance, you know that is actually a great in fact,
Speaker 2: it's there are some air lights, IVY League air lights,
Speaker 2: NBA universities in America you know that offer behavior of
Speaker 2: finance as a major Although I did behavior finance as
Speaker 2: an undergrad.
Speaker 1: Okay.
Speaker 2: So now you look at the behavior of people around
Speaker 2: today towards finers, particularly in Nigeria, as you know the
Speaker 2: case study. You look at you know, the the the
Speaker 2: the greed and the quest for material world. You look
Speaker 2: at how people are entied about making money. You look
Speaker 2: at how people just want to make enough money out
Speaker 2: of nothing.
Speaker 1: Okay.
Speaker 2: So people just want, you know, to invest in as
Speaker 2: an air and get one billionaire.
Speaker 1: It's like that all across the world.
Speaker 2: But it's actually at a very very you know, it's
Speaker 2: actually at an all time high in the country today
Speaker 2: where people just want to make you know, easy money.
Speaker 1: So as a result of our behavior.
Speaker 2: Towards finers, it that makes us to you know, become
Speaker 2: a very very easy pre you know, to fall for
Speaker 2: this ponzie and this investment schemes.
Speaker 1: Okay, So but here are my two cents. Two cents
Speaker 1: are first of all. First of all, I just want
Speaker 1: to say.
Speaker 2: This if if you're students, or if you're a businessman,
Speaker 2: or if you're an entrepreneur, I would advise that you actually,
Speaker 2: you know, seek investment advice or investment schemes to brick
Speaker 2: and water.
Speaker 1: There are so many investment houses.
Speaker 2: In the country, such as your Marystan United Capital Partners
Speaker 2: and so on. You can actually get their car lines.
Speaker 2: You can meet on Twitter or anyway, get their care lines,
Speaker 2: look after them, and then call them and invest directly
Speaker 2: with them. You can invest in uh so for example,
Speaker 2: they are actually some you know.
Speaker 20: Companies that are actually you know approved by sex. But
Speaker 20: some of those companies that are approved by sex.
Speaker 1: The room. Yeah, you spend agree with you more? Enough time, sir,
Speaker 1: I do, I do apologize, but I think you've got
Speaker 1: your points across. Yeah, so I appreciate that you. Let's
Speaker 1: get one. So guys, what's running down? I gotta get
Speaker 1: loom the go to Google, let limb dee go. So
Speaker 1: that's what round down. I have one on the space
Speaker 1: and I was going to have an opportunity to speak.
Speaker 1: Let's get one BANDI then'll just take jerrych do and
Speaker 1: and party. Yeah. Go ahead, man, Hi, cal couldn't be
Speaker 1: doing today. I'm doing great. How about you. I try
Speaker 1: to hear you. I can hear you very well.
Speaker 6: Yeah, okay, thank you for a person to speak.
Speaker 1: So I joined this because this has really been.
Speaker 6: An issue that's not just peculiar to third world countries.
Speaker 6: There are pose you'd find in even first world countries,
Speaker 6: but they are way wayward in third world countries.
Speaker 1: Say that one of the.
Speaker 6: Major reasons why people for for this police come schemes
Speaker 6: is because of that's the number one attribute that you
Speaker 6: have to always acknowledge. You have to acknowledge that people
Speaker 6: are very committee and if you take away grade from
Speaker 6: the whole issue, you'd see that people are able to
Speaker 6: think clearly and people are able to make way more
Speaker 6: logical decisions than your regular person out there. Because m
Speaker 6: YC dex is offering you one hundred percent on your
Speaker 6: investment and you think it's something that is sustainable, and
Speaker 6: it never occurred to you at any point in time.
Speaker 1: That you would definitely be losing your money at some point.
Speaker 6: You understand because if you're working a financial institution or
Speaker 6: if you're very comfort with the money markets, the money
Speaker 6: market phones and how you go. Fi IS operates in
Speaker 6: the country where you recite. Nigeria is a case in
Speaker 6: point for me because hip in Nigeria and are actually
Speaker 6: work in at FI so I know how these things happen.
Speaker 20: Right.
Speaker 6: You see that a lot of people are out there
Speaker 6: looking for just quicker ways to make more money, quicker ways.
Speaker 2: To double their When they come and they meet you with.
Speaker 6: This ridiculous streets, they're asking you if they can get
Speaker 6: fifty percent of their investments. They're asking you if they
Speaker 6: can get so so so they're telling you, heir, the TBS,
Speaker 6: it's increased, the faberal governments, they're increased. It's why you know,
Speaker 6: increasing your private institution. You should be hired with TVs
Speaker 6: and all that. And then you're telling them, look, this
Speaker 6: is a business that we're running here. We're not running
Speaker 6: the business where everybody would come and get fifty percent
Speaker 6: of their investment for anam or you come and get
Speaker 6: one hundred percent. It's not so stakable. It's a business.
Speaker 6: The business has to grow their operational costs to listen,
Speaker 6: and so nobody's giving you all of their profits on
Speaker 6: your intment. I had a colleague one time, sometimes last year.
Speaker 6: She had this very big h and I client that
Speaker 6: had like a billionaire with her at the time. You
Speaker 6: don't believe that this guy moved this font from it
Speaker 6: from this from the comfort, the safe comforts that he
Speaker 6: was enjoying with the institution where I work, he moved
Speaker 6: the to your regular real estate guys. You know that
Speaker 6: those ones to a others come to waiting to happen
Speaker 6: to you people, and you were there. He moved it
Speaker 6: there And what he told the girl at the time
Speaker 6: was that he told her that they're offering.
Speaker 1: Him fifty percent per album. Can you match that?
Speaker 6: Who in their right senses will match you fifty percent?
Speaker 1: On the pioneer? Who? Where? And how does that happen?
Speaker 1: Do you understand?
Speaker 6: That is where the greediness that I'm talking about initial
Speaker 6: steps in place, Because if you're a greedy you also
Speaker 6: think that a real estate company who's only viable source
Speaker 6: of paying you your.
Speaker 1: Principal amount and your interest at the end.
Speaker 6: Of the investment n or is by selling off lands
Speaker 6: or selling off houses.
Speaker 22: You get.
Speaker 6: I mean, I don't know what it is you're thinking
Speaker 6: at the time. And this is somebody who has like
Speaker 6: a financial advice So who is you know, giving them
Speaker 6: the best rates they could get in the market at
Speaker 6: the time, And they said, no, they want to take
Speaker 6: that risk.
Speaker 1: That's a high risk. That's that. Oh. So I don't
Speaker 1: want to I don't want to cut you off. I
Speaker 1: was just want I was just want to ask you
Speaker 1: a few questions. You don't mind. Like I was going
Speaker 1: to ask in your experience, like do females fall? Are
Speaker 1: they more successible to this than males are? Just from
Speaker 1: your own personal experience, okay, from my.
Speaker 6: Personal experience, right from my own personal experience and then
Speaker 6: work experience too, I'm assuring you that women are the
Speaker 6: least likely to fall for this because women do a
Speaker 6: high risk appetite like men, which men, men are the
Speaker 6: ones with the high risk appetite. Men are willing to
Speaker 6: gamble on these things. For me, it's a gamble. I
Speaker 6: think somebody came up here and you spoke on gambling.
Speaker 6: It's a gamble when you're gambling on these things, right,
Speaker 6: the gamble. And lots of men are very emotional about
Speaker 6: money that they are willing to goggle out.
Speaker 1: Their life on it. Then there are those men.
Speaker 6: I don't want to make it a gender things for
Speaker 6: let me just say they are those men too who
Speaker 6: are very risk adverse and they understand how this risk
Speaker 6: thing goes. So what they do is that they diversified
Speaker 6: their investment put folio. So with the with the case
Speaker 6: and point, I told you about the man with over
Speaker 6: a billionaire with the institution where I worked, somebody like that.
Speaker 1: What he should have done on like on the normal.
Speaker 6: Term was if he was getting fifty percent by Alum
Speaker 6: on that investment, what he should have done was to
Speaker 6: share that risk into two or three you get probably
Speaker 6: leave five hundred million with the company.
Speaker 1: They moved the five undread to the real estate guys.
Speaker 1: But I had to go with the billion.
Speaker 6: And that's where the great thing contentlate for me, because
Speaker 6: if I have a billionaire, I am not I'm not
Speaker 6: I'm not keeping a billionaire at the sports no matter
Speaker 6: how safe it is you think you are, I'm diversified
Speaker 6: that risk or that effort.
Speaker 1: Yeah, and someone I think Lia had mentioned, I don't
Speaker 1: know what mentioned diversification, Eliot and in the space that
Speaker 1: we had to don't put all your eggs in one basket.
Speaker 1: So even if you think.
Speaker 6: It's real, I'm telling you the first majority of my
Speaker 6: hiis and so I think are very black people. What
Speaker 6: they do is they diversify it. No matter how much
Speaker 6: trust they have for you, these people.
Speaker 1: They will not leave if I have one. That the
Speaker 1: only thing does with me.
Speaker 6: I don't want to be saying that because for people
Speaker 6: it's fifty, but this person is worth a billion investment.
Speaker 1: But it's just fifty. I'll give you fifty.
Speaker 6: Uh if I was speaking to him sometimes lasted and
Speaker 6: he told me he went to standing adity.
Speaker 1: That their with didn't match ours. But if he feels it's.
Speaker 2: Safer out there, because I mean, you know, the normal.
Speaker 6: Nigerians we have a very conventional mentality of thinking the
Speaker 6: plans that were safer than you know, investment houses and
Speaker 6: other sizes you can. So I'm saying if an average
Speaker 6: Nigerian con conquered great with these things, it would give
Speaker 6: you a clear perspective to these things and you would.
Speaker 1: Make a way more logical decision.
Speaker 6: I'm still if another suppons this scheme comes out tomorrow.
Speaker 6: You see, people would always.
Speaker 1: Invest in this thing. These people, they never give up
Speaker 1: on this. People have a second question, you don't mind
Speaker 1: cecal question. So this guy is no nobody. I see
Speaker 1: you work in a bank. I'm not sure if it's
Speaker 1: a bank, but I think I perceive you're working a bang.
Speaker 1: So usually when this thing is hot, when the ponzy
Speaker 1: is hot, the bank will be seen out from the
Speaker 1: bank to the ponzi scheme. Then the positi will bring
Speaker 1: it right back to the bank or on the bank
Speaker 1: do you think it's a place where banks should question
Speaker 1: and say, hey, what is happening? Like money is leaving
Speaker 1: bank A to bank to Ponzy then going from Pozzy
Speaker 1: to bank B. Is there any place where the bank
Speaker 1: can call customers say hey, what's going on? Do you
Speaker 1: know these people? Why one is flowing? What's your take
Speaker 1: on the rule of FI in this? In this whole
Speaker 1: ecosystem of poses, this, this, like you said.
Speaker 6: Is an ecosystem I fire. It's a chain reaction for me,
Speaker 6: That's how I see, because there's there's more. You know,
Speaker 6: the rule the rule of comings. You're not supposed to
Speaker 6: lose phones no matter how good it is.
Speaker 1: The customer is.
Speaker 6: Getting it elsewhere, so it's it's not something they are
Speaker 6: very cool with. They're not cool with losing their phones
Speaker 6: to competitor anything. So when these things happen, right, every
Speaker 6: everybody who is on deck is calling everybody they know
Speaker 6: to not do things like that. We know now, if
Speaker 6: I know that the pull of clients, all business service
Speaker 6: theres know how they will fall for something as stupid
Speaker 6: as that's honestly because it's silly car.
Speaker 1: You check it out for yourself.
Speaker 6: This is the wundred percent in what world will anybody
Speaker 6: give you a undred percent when there is no sustainable business.
Speaker 1: To show how you're right. Let me tell your story
Speaker 1: past on Twitter when we had the last crypto, the
Speaker 1: last pin the skin. I try to be sarcastic and
Speaker 1: I said, oh, if you give me money, I will
Speaker 1: give you one hundred percent. You people are all stupid.
Speaker 1: You know you send me DMS and want to give
Speaker 1: me money. Jesus Christ is a lie. I know I'm not.
Speaker 1: That's why I don't don't joke with that stuff anymore.
Speaker 1: I don't do all those satire like giving money, I
Speaker 1: don't do. I don't do it again. People said, okay, okay,
Speaker 1: I know you're joking, but let me give you the money.
Speaker 1: I know you let me give you the money, then
Speaker 1: you give so you see what you're saying. People are people.
Speaker 1: You think people don't know it's a ponzy scheme. I
Speaker 1: think people know it's a pounds of scheme. But like
Speaker 1: some one has said, you want to get in early,
Speaker 1: make your principal back, then stay after that. My friend
Speaker 1: had forty four million in respector she could have taken
Speaker 1: the money. She left the money there, forty four million
Speaker 1: she left it there because if it's there, it's giving
Speaker 1: her money to day to crash. Okay, she has made
Speaker 1: her principal one hundred percent on the principle, so what
Speaker 1: she where is she going to? And that's the way
Speaker 1: you have. You know, there's a commis called la fa
Speaker 1: kov where if you tax at zero and after one
Speaker 1: hundred percent you get zero because if you tax too
Speaker 1: little and too much you get zero. If you invert
Speaker 1: that to ponzi, when you offer one hundred percent, you
Speaker 1: will get more customers than when you offer ten percent.
Speaker 1: It blows your mind. But I assure you people who
Speaker 1: know this is ponzy, let me go there that ten percent.
Speaker 1: They know it's real. It's ten percent. That's why it happens.
Speaker 6: So you see, you see what I submission.
Speaker 1: I said.
Speaker 6: It's great at this point because because some people may
Speaker 6: want to come up an IQ.
Speaker 1: That is people only when they says is strange, it
Speaker 1: is francialcation. There's I think there's a middleweight path there
Speaker 1: because like he has giving you the data, it standard
Speaker 1: Nigerian guy is smart enough to detect that this is ponsy.
Speaker 1: You can't tell me they're stupid. That's if people that
Speaker 1: come they don't understand what it is. When you say
Speaker 1: maybe crypto binary, they don't know what it is. But
Speaker 1: it makes money. That's a different animal. But you say,
Speaker 1: bring your money to Seabecks, you give it to them,
Speaker 1: you get one hundred percent in the month Haber. So
Speaker 1: people know it's pronzy, they're not it's ponzy. But you
Speaker 1: do exactly if you look at.
Speaker 2: If you look at look at the minister for example,
Speaker 2: why do you think it's popling nag?
Speaker 1: Why do you think.
Speaker 2: Yeah, you could turn that okay? Just as a class,
Speaker 2: don't trust mica, do not want to see just stop market.
Speaker 1: That's my opinion.
Speaker 2: Like Julian markets, market is more popular than the stop
Speaker 2: market carriage.
Speaker 1: In fact, if you if you try to there's the
Speaker 1: time I try to.
Speaker 2: Do personal storgary with my LOOKI let's talk about this
Speaker 2: thing coins listening in the stock markets.
Speaker 1: Would you would you buy that? Would you buy an
Speaker 1: n p C? Would you buy mimi coins? You know
Speaker 1: mini coins? I a good n m p C. Of
Speaker 1: course I'm not. I'm not surprised. I I'm not surprised.
Speaker 1: I don't know why, but I'm not surprised. If you
Speaker 1: tell people, if you tell you to buy Index ca.
Speaker 1: They they don't buy Index phones. You can't. Let me
Speaker 1: tell you why.
Speaker 2: It's as simple as a kid. I never watched the
Speaker 2: I used to watch the news a lot. I read
Speaker 2: those newspapers. My dad made me to do natural bet.
Speaker 2: One thing that I exclude on to was was the
Speaker 2: business news. But I can tell you that in many homes,
Speaker 2: once the news get to that business side, everybody turn
Speaker 2: off the TV. Then the second side of it is
Speaker 2: the role of the media. It is very very important
Speaker 2: that those who have opportunities to keep.
Speaker 1: On banking the drum.
Speaker 24: The role of the media is very, very very very
Speaker 24: vital in shaping public opinion.
Speaker 1: The media in the Juli is dead. They will never
Speaker 1: air something that is objective.
Speaker 24: And even like somebody talked about the radio and the
Speaker 24: prints and the news, you will never see objective articles
Speaker 24: about that.
Speaker 2: People are always scared. People are scared of writing stuff
Speaker 2: that they don't come after you. Everybody is scared, and
Speaker 2: that is something that I really really found. I find
Speaker 2: it so appalling in a population such as US. You know,
Speaker 2: but people don't want to call out Baptists on media,
Speaker 2: and because nobody does that, they're away with it.
Speaker 1: I mean, I just like I'm saying she's making it.
Speaker 1: I was just wanting it's making some great points. Then
Speaker 1: I just want to get her insights. But I just
Speaker 1: want to go ahead, so I want to that real
Speaker 1: quick before you asked your question.
Speaker 6: So my my take is I just wanted to like
Speaker 6: give a little bit of education with the works.
Speaker 1: So if you are looking it's your money, it's your
Speaker 1: finance right, and.
Speaker 6: I'm not supposed to for me because because a copose
Speaker 6: of my life working in FI numbers, money is very
Speaker 6: important to me.
Speaker 1: Even if it's all my money, even if it's somebody
Speaker 1: else's money that persons else is money is.
Speaker 6: Important to me because if you lose it in school,
Speaker 6: like you can't get And I also want to say
Speaker 6: it out loud, you guys you can work here.
Speaker 1: You tell yourself that it's SEC regulated. Is this that
Speaker 1: now you have a square? But what what? What should
Speaker 1: we not look at SEC illustration should be a fact?
Speaker 6: Only son't tell you how it would you're only looking
Speaker 6: at your SEC regulation. Because the second is we're in
Speaker 6: Nigeria and I'm just seeing this on the light because
Speaker 6: because somebody is gonna telling you that it's secregulated in facts.
Speaker 6: A matter of fact, it's better for you to see
Speaker 6: that CBN has licensed that company. If if there's a
Speaker 6: CYPR license with that company, it's even way safer than justice.
Speaker 1: But they will sell the same products. Doesn't sell securities.
Speaker 1: That's a problem, right thing right, so you see they
Speaker 1: don't sell the same thing. Right. It's like you said, right,
Speaker 1: the sec is mostly for asset management. We know this thing.
Speaker 6: But these people are sill collecting your money, you know,
Speaker 6: so you better have a CP license.
Speaker 1: Cybian is aware of this company. CIBA regulates this company.
Speaker 6: Simba knows that this is taking money if if you want,
Speaker 6: if you want license to collect money from the masses, and.
Speaker 1: Will not give you that license. And CB and has
Speaker 1: n d I c n d I c IP. Let
Speaker 1: me tell you in fact, we're gonna move on. Yeah, yeah,
Speaker 1: I hear you. I do.
Speaker 2: Like I wanted to respond that we write stories like
Speaker 2: for example, if you look at Calus straight now I
Speaker 2: put in and Calu rights to the problem is that
Speaker 2: people are not a pleasure and.
Speaker 1: Financial stories like look at this space for example, we
Speaker 1: have just about two today. But if it was gossives
Speaker 1: or crying wedding, or is somebody dropping or something we go.
Speaker 1: So it's interesting.
Speaker 2: Then a thing again is that their clients says it
Speaker 2: depends on what you can said that no set is
Speaker 2: very well. Some people have less, people have different so
Speaker 2: it's not and you know, for example, look at Cardinals
Speaker 2: cards to talk about cb a license, but it's so
Speaker 2: booker but the biggest book and look at look at
Speaker 2: the capt There are many bookers that I use about
Speaker 2: five of them.
Speaker 1: And I use band brokers for example. I want people
Speaker 1: that the accounts so that both covering them at the
Speaker 1: parent company. I'm coming I'm telling somewhere. I'm coming somewhere.
Speaker 2: So for example, if you look at stop bookage license
Speaker 2: for example, if you stop bookish, Penphos goes on that
Speaker 2: studying the traditional stock brooker, your stocks are under the
Speaker 2: CSCs accounts. So the recreation of a stock Brooks account does.
Speaker 1: More mean that your stocks are going.
Speaker 2: And that's why I tell people that ensure you have
Speaker 2: the CSS accounts now, but don't start doing to have
Speaker 2: the c be But have said, it depends.
Speaker 1: On your kind of sense.
Speaker 2: For example, there's some there's some bookers I just don't
Speaker 2: want to call their name. If you don't have to
Speaker 2: taming on there. You don't have a fitting on that.
Speaker 2: Don't know open as that comes for you because they
Speaker 2: focus on nation. But you also need to understand your
Speaker 2: own limits and your capacity. If I even if I
Speaker 2: could take their bookers, I will satisfying. But I think
Speaker 2: the end game is that we have said the fact
Speaker 2: that I'm in the second lissas don't be an in jail.
Speaker 2: It means that they have a batch of accountability and
Speaker 2: at a certain level you are protected.
Speaker 1: That's what you mean. It's not doesn't mean that you
Speaker 1: don't commit.
Speaker 2: Like I said in Nested, there are many sec regreated
Speaker 2: films that have committed in your crime, but they've been
Speaker 2: uncomfortable and constable.
Speaker 1: Need to understand differences that I'm thereful lens going all right, perfect, well,
Speaker 1: why didn't that guys, why I really appreciate your insights.
Speaker 1: That was a different take and the first day to
Speaker 1: speak on the space as well. I appreciate that. But
Speaker 1: again the point is nothing is guaranteed. You can have
Speaker 1: sex license, you can have everything, and you will till
Speaker 1: you know fall victim in the end. There are few
Speaker 1: financial topics that have come up here that diversification again
Speaker 1: we've hit on the diversification is very important. Spread your risks.
Speaker 1: You spread even if you're going to do banking, spread
Speaker 1: risks two or three banks. You don't do equities, spread
Speaker 1: into two index funds. Right, So it's diversified. Even if
Speaker 1: something happens, it might not be be fraud, but it
Speaker 1: can be the economy, it can be talented who so
Speaker 1: talent so covid. So spread that risk around. Right, Great,
Speaker 1: let's get a check out and we do check out.
Speaker 1: Bad day and greater and that called today check a hydron.
Speaker 1: I'm great, happy, happy to you, sir. Okay I I
Speaker 1: think that there's an interesting conversation. I agree that greed
Speaker 1: is an issue, but I mean, greed is not a
Speaker 1: new thaing.
Speaker 14: People have been greedy for over a century, and greed
Speaker 14: is part of human nature.
Speaker 1: So could it be could it be that this is?
Speaker 1: This is this could be the result of the switches,
Speaker 1: the changes, the evolution that's going on over the last
Speaker 1: maybe twenty years, from the internet boom time to the
Speaker 1: digital economy time.
Speaker 14: How we have watched how life has switched for a
Speaker 14: lot of people, I mean the all the time.
Speaker 1: When there are certain directions you must go regarding career.
Speaker 1: Before you can make a lot of money or you
Speaker 1: can't this. Before you can make money enough to become
Speaker 1: extremely comfortable. But now people can easily come reach in
Speaker 1: a short time. Like that's a good point the game.
Speaker 1: The game is totally changed, like totally changed.
Speaker 26: A kid, a fourteen year or even twelve year old
Speaker 26: kid could have his parents help him create a YouTube
Speaker 26: account and from days a blogonia in less than three years.
Speaker 1: You know, an artist in those days.
Speaker 14: Will have to talk the world for like six years
Speaker 14: before he becomes a millionier.
Speaker 1: Today, three hit songs can make you a million. Yet,
Speaker 1: you know because of the digital economy.
Speaker 14: Somebody, I mean, we're here on Twitter. A lot of
Speaker 14: people put all kinds of things on Twitter to be
Speaker 14: able to get engagement and get get a lot of
Speaker 14: masks payouts. Right, there are different kinds of things people
Speaker 14: are doing that bring in the kind of money that
Speaker 14: you would never imagine young people making fifty to twenty
Speaker 14: years ago.
Speaker 1: So and everybody is watching this like everybody's before maybe
Speaker 1: fifteen years ago.
Speaker 26: If you see people making that kind of money, when
Speaker 26: you see it with one year old kid come up
Speaker 26: with some five million era.
Speaker 1: The first thing that comes to your mind, is is
Speaker 1: doing Yahoo? But now there are a lot of conservation
Speaker 1: to the need. Okay, what does he do? It's the
Speaker 1: first question you ask.
Speaker 14: And then they begin to explain to you he makes content,
Speaker 14: or he makes this, or he does comedy or you know,
Speaker 14: stuff like that, and you verifie that you realize, actually
Speaker 14: he's making a lot of money.
Speaker 1: Everybody's watching this, you know. And then the other side
Speaker 1: of it, which is the fact that people who.
Speaker 2: Make this money flaunted everywhere, so film, media events and
Speaker 2: all whatnot.
Speaker 1: So believe it that our minds have actually our paradem.
Speaker 12: Has shifted so much that it's trying to catch up
Speaker 12: with this spit of the evolution has and the spit
Speaker 12: of how things are moving, how disruptions are happening, and
Speaker 12: we can catch up. And so Goody mentioned something about
Speaker 12: financial behavior, you know, how people are not learning how
Speaker 12: things work as fast as possible to catch up.
Speaker 1: So gretly that we are not mentally equipped enough to understand.
Speaker 12: How our speadity things are changing and how it is
Speaker 12: influencing our decision making.
Speaker 14: So we don't even trust anything that used to do that.
Speaker 14: It's all now believe that these things that are coming
Speaker 14: up as the new ways of making money. The other
Speaker 14: ones that used to make money before have failed many times.
Speaker 1: So this is the way and the other ones we
Speaker 1: are risky. This one is risky. You know. This is
Speaker 1: actually what has been going on my mind when I've.
Speaker 14: Been listening to everything going on, so that we don't
Speaker 14: just you know, basimplify it and put it around greed.
Speaker 1: It's all about greed. Greed. I think we've seen nice people. Yeah,
Speaker 1: it's some people getting kicked up with these things. Yeah.
Speaker 1: Toga would say this that greed is not going to
Speaker 1: go away. And greed has been there, it to be there,
Speaker 1: it will always be there. Greed is is as human
Speaker 1: as being hungry. So I think there's greed, but I
Speaker 1: also think that's the The fall of the institutions in
Speaker 1: Nigeria is also contribute to this. Can you imagine what
Speaker 1: it will take for someone to set up something, open
Speaker 1: a bank account, have an office, advertise, collect people's money.
Speaker 1: Know before it's a ponzi it's legal, right, quote unquote,
Speaker 1: it's legal. He's out there, he's taking moneys, he's signing contract,
Speaker 1: he's opening bak accounts. People know his face, his signature,
Speaker 1: he's doing this knowing fully well that in the next
Speaker 1: three or four year is going to disappear because he
Speaker 1: knows nothing going to happen to him. If the police come,
Speaker 1: he can you know, if this guy's come, you know
Speaker 1: you can't try that in saye, in the US or
Speaker 1: the UK, not because you're not greedy, but the institutions
Speaker 1: will come at you so hard. Not just you the
Speaker 1: bank that that enabled you, the brokers enabled you, everyone
Speaker 1: around the spirit. Remember like we talked about made of,
Speaker 1: why do we they get money back from made of?
Speaker 1: They went to the genuine customers for being made of
Speaker 1: and said, we don't care, you w drew money. You
Speaker 1: have to pay the money back to the government. They
Speaker 1: went to them, the guys said, what I do wrong?
Speaker 1: It was my money? I will said, no, you drew
Speaker 1: it a year before made of crash. That means you
Speaker 1: knew he was going to crash, So pay back. And
Speaker 1: they made them pay back. The same with Batman Freed.
Speaker 1: They went to the same way and said, listen, we
Speaker 1: drew money, paid back, the claw back, the clock back again.
Speaker 1: It's institutions where you know that if I'm a bank
Speaker 1: and I see an institution, if bankers know that this
Speaker 1: is is ponzy. They know, but because they that pony
Speaker 1: is taking money from bank A to my bank, I
Speaker 1: keep quiet. That's what's going on. How many times have
Speaker 1: you seen sek and fine, excuse firm say we're finding
Speaker 1: it because a billion. You didn't do this, You didn't
Speaker 1: do that. So the bank will said is it worth it?
Speaker 1: But here cultured like it's cultrued. This guy set it up.
Speaker 1: You know, a bank will say, oh, you have deposit banks,
Speaker 1: bring them to us. I eat the ponzi and then
Speaker 1: the pony will and open up a brand new relationship
Speaker 1: with a different bank. So the bank sort of wink
Speaker 1: and not im like I'm enjoying this, you know. And
Speaker 1: it's the institutional part again, it's me let me ask
Speaker 1: you a question. So we have you have established the fact.
Speaker 14: That it is in duty of the institution to protect
Speaker 14: the people since they don't know enough about this.
Speaker 1: So is this possible for us to see things like
Speaker 1: what's it called again, as in this kind of class action?
Speaker 1: Class actions? Yeah? Class but we don't don't.
Speaker 14: I don't think these things by people who the victims
Speaker 14: of the fraud or the scams going on.
Speaker 1: We don't have that sort of law prom We don't
Speaker 1: have that kind of law practice in Nigeria that you
Speaker 1: can go after so that it wasn't directly involved. In America,
Speaker 1: if you have a road, you don't put cushion signed
Speaker 1: to say slow down, and I walk into that road
Speaker 1: and I get hurt, I can sue you, but I
Speaker 1: don't talk. Laws are very, very different. And that's the
Speaker 1: reason why we do only have like that because if
Speaker 1: this happened in America, I assure you the landlord that
Speaker 1: had that building, the banks that had that building, the
Speaker 1: insurance company had been everybody's gonna be sued because I'm
Speaker 1: gonna say, you guys all enable it that you guys
Speaker 1: knew it was a fraud. The police station besiding will
Speaker 1: be sued, the local government that he paid tactics will
Speaker 1: be sued. And that's why we have it happens so
Speaker 1: everybody is always careful. There always okay, sign this contract
Speaker 1: or disclosure, sign that you were aware of this, say
Speaker 1: that you have that that they have no recourts. They
Speaker 1: make you sense why you sign so much stuff in
Speaker 1: the way you go to go abroad, because they know
Speaker 1: that there's any problem, they're gonna come after them. In Nitria.
Speaker 1: Like I said, when it's when it's not the point,
Speaker 1: when it's still a quote unquote legal enterprise. They walk around,
Speaker 1: they donate to politicians, they go to clubs, they go
Speaker 1: to church, they buy property. Can you imagine go to
Speaker 1: America and you are in America who sell marijoana. Marijana
Speaker 1: is banned federally, is allowed to statewide. You can't open
Speaker 1: the bank account if you sell marijana you cannot you
Speaker 1: cannot have it. So they will come and if you
Speaker 1: go to a bank, they will couches and say they
Speaker 1: sell this or sell that to open bank accounts. Once
Speaker 1: the bank finds out that they're selling ma join to
Speaker 1: close the account. Can give you your check? Why is
Speaker 1: it bank doing that? Because they know if they allowed
Speaker 1: that check to stay in the bank, even though the
Speaker 1: guys said I am not a majorna seller, they will
Speaker 1: be sued down the line. So they do self preservation.
Speaker 1: They cut your check and give you That's why they
Speaker 1: goes quo our accounts because they know that down the
Speaker 1: line they will get sued, so they close your account preemptively.
Speaker 1: We don't want this quote unquote toutree for people. They
Speaker 1: will sue us, but it's absent in Nigeria because they
Speaker 1: don't that.
Speaker 24: The issue is what I'm thinking though, is it that
Speaker 24: the laws are not there or.
Speaker 1: Is it that the laws have not been tried? There
Speaker 1: is no law in Na, it's not here. There is
Speaker 1: no law in the world that's not in Nigeria. If
Speaker 1: you check your load of books, there are lots.
Speaker 24: So what you're saying though, that's what I'm going to
Speaker 24: come at this. It's like because no one has actually
Speaker 24: drive it to the Supreme Court and see them, let them.
Speaker 1: Make it happen. And President sadly nothing will happen. It's
Speaker 1: bill not free, okay. I dare you to go to
Speaker 1: port and say you don't wan to pay for bill?
Speaker 1: I dare you ye?
Speaker 24: That it depends on who is suing though I think
Speaker 24: sometimes if top people to sue.
Speaker 1: But that's the problem is bro bro this week? This week.
Speaker 1: This week, there was a seventeen year old boy arrested
Speaker 1: for public disturbance and jailed in Kirri Kiri. Seventeen year
Speaker 1: old boy by the Nigerian police. It had to take
Speaker 1: a high broad politician to get that seventeen year old
Speaker 1: boy out of prison. I assure you the other fifteen
Speaker 1: forty year old boys in curriculey. This year we saw
Speaker 1: the young boys from Cano, but they're not jailed in
Speaker 1: Cando is no, you cannot jail my notes. A federal
Speaker 1: prosecutor said they were faking. There is the adults if
Speaker 1: federal I remember so. So the institutions have have failed
Speaker 1: and that's why he has said what you're seeing.
Speaker 14: Don't you think that the profile of the lawyer like
Speaker 14: it would be a high profile lawyer decides to sit
Speaker 14: on something like that would have been a different case.
Speaker 1: Son took a guy to to jail for writing a
Speaker 1: book about him about in defense. No, but I'm not
Speaker 1: saying that that guy had the defense now, but a
Speaker 1: son that is supposed to be the quote the prince
Speaker 1: of the court broke did the whatever and took the
Speaker 1: guy to court for for was libel or whatever. When
Speaker 1: I'm saying that when there he could he try that?
Speaker 1: In the UK, if you are in Queen's Council, can
Speaker 1: you try that kind of lawsuit? Not because your name
Speaker 1: will be ruined forever because the institutions will come after you.
Speaker 1: But the point in Nigeria that the institute there is
Speaker 1: no if you do something wrong, nothing happens to you.
Speaker 1: That's the point I'm making. We have a governor that
Speaker 1: openly will say I want that to have. A minister
Speaker 1: will say I want the god notor removed. But the
Speaker 1: presence you say it, oh poorly admitting that he's involved
Speaker 1: in the removal of an elected What has happened? Nothing
Speaker 1: will happen during that I had not that someone slapped
Speaker 1: a minister. Nothing will happen. We're talking. We're not talking
Speaker 1: about Inugu Airport in the morning. While we're talking about
Speaker 1: Indugo Airport in the morning, don't we have laws it.
Speaker 1: I've posted the infrastructure considered regulatory Commissions policies as regards
Speaker 1: airport in Nigeria where they followed. So in the end
Speaker 1: we can blame the greedy and uneducated young guy with
Speaker 1: the phone. That's one hundred percent. I want to invest
Speaker 1: That young guy knows that this is a free for all.
Speaker 1: Let me get in and make my money before it crashes.
Speaker 1: He's not worried about second come and catch that guy.
Speaker 1: I'm not hitting sec SECH is doing their work, but
Speaker 1: he has no no, no investors in any points. Kinnaja
Speaker 1: was worried that tomorrow they will be readed. How many
Speaker 1: banks are reading America and the UK and Germany and Japan.
Speaker 1: How many banks who read wasn't wasn't made of raided?
Speaker 1: Have ever heard that a bank only Dangote was reridden
Speaker 1: and it was was fighting with the with the big
Speaker 1: boys Dante, but however had preemptive read. We think you
Speaker 1: posted rand there and reading and readed them. It's not
Speaker 1: too more good. So in the end maybe we'll end
Speaker 1: with this. In the end, we have to really ask
Speaker 1: ourself bout this here. We have to ask ourselves the
Speaker 1: institutions really have failed to put that fear. This is
Speaker 1: not this is not armed Roberts. Did you have to
Speaker 1: happen office again? You have to have an office, you
Speaker 1: have to have a website, bank account e FCC agree
Speaker 1: to that part. Yeah, we can.
Speaker 2: You see these other arguments like that's why when some
Speaker 2: critics were talking about the fact that the government is liguge,
Speaker 2: like I expected, there should be integration between Okay, having
Speaker 2: a before you get a.
Speaker 1: Restration, you should get clarents from SEC first at least
Speaker 1: or before you get.
Speaker 2: Before you get any search and clit about the guitar
Speaker 2: set and things like that. Portality because the government, like
Speaker 2: your government. Also, there are co people with certain things,
Speaker 2: like for example, when he wanted to band out, they
Speaker 2: said they were going to ban certain things. It was effective,
Speaker 2: so they say, for example, anything that is legal for
Speaker 2: a certain period, I do want to shut it down.
Speaker 2: To shut it down. But can we goes down to
Speaker 2: this question. And that's why I so much like America
Speaker 2: in terms of the fact that see America is not perfect.
Speaker 2: But one of the things I've seen in the financial
Speaker 2: spaces that they protect their properlies. The raratic in PI
Speaker 2: I've seen many times taken, but in agin for example
Speaker 2: inside that's traded. Since I've been coming that space, I've
Speaker 2: not seen anybody gone with that.
Speaker 1: Can't be mad that BMS. Then look look at what
Speaker 1: you mentioned, you know, the fact that elicits.
Speaker 27: So these are things that I feel that over time
Speaker 27: we need to strengthen our institutions boards, you know, like
Speaker 27: I said, we need to also and showed that our
Speaker 27: shows are our political and that was why I was
Speaker 27: stagging the fact that we should not allow.
Speaker 1: Insistent ways is to fire the CBM the sake.
Speaker 2: Look at the United States, for example, that's why the
Speaker 2: fact Trump is about you.
Speaker 1: He can't just the compass they wants to sack Worry
Speaker 1: was wanting him that if you.
Speaker 2: Suck this guy, the market will crash because there's no
Speaker 2: legal go back in.
Speaker 1: So we need things like that. But like you said,
Speaker 1: it's back to it's back to the institutions. If we
Speaker 1: if we, if we think that with the population will
Speaker 1: police itself, were mistaken, there has to be Let me
Speaker 1: give you my argument I'm making before it becomes a ponzy.
Speaker 1: These guys are out in the open, and they're out
Speaker 1: in the open because they know that when they close
Speaker 1: and becoming no longer becoming ponzy around it, we're not
Speaker 1: even happen to them. You can't go to in America.
Speaker 1: Puns can't happen by an error. So made of found
Speaker 1: that there was a loophole when he could just say
Speaker 1: I'm paying you twenty percent and no one cut on
Speaker 1: to him. He didn't wake up and say he knew
Speaker 1: he was going to be That's the point I'm making.
Speaker 1: But here, if people plan and say I'm going to
Speaker 1: be a ponzi, I'll open the bank account, our go
Speaker 1: to e FCC and get little Clarence. I'll go to
Speaker 1: CEC and get letter. I'll have a fancy office. I'll
Speaker 1: donate to charge, I'll donate to chat so so and so,
Speaker 1: and people will come to my office and then I'll
Speaker 1: take all their money and by the fifth year I'll
Speaker 1: buy visa to Barbados and disappear because they know no extradition,
Speaker 1: no Interpol. Who have we extra data in our lives?
Speaker 1: Who have we ever apart from the one that is
Speaker 1: in jail? Which financial guy? Have we ever extra data
Speaker 1: from Nigeria? Who? No one? So if you steal five billion,
Speaker 1: you run to Barbados and you buy a beach house
Speaker 1: and your private security, you are good by they take
Speaker 1: us home, but they're going to be the last take
Speaker 1: us on the We'll call today.
Speaker 13: Thank you so much, Thank you so much, a lot
Speaker 13: of submission. You've actually said everything for your question to.
Speaker 16: Online about you and fine, I don't think if I
Speaker 16: advanced has anything to do about since the counsel of
Speaker 16: anybody from moving on, they're follverybody actually.
Speaker 1: Know they can they do way so blue. If I'm
Speaker 1: a bank I think this is you.
Speaker 16: You said it that the financial set of the police,
Speaker 16: the community, the structure, everything is not working. What are
Speaker 16: there with blueing for there is a lot of Okay,
Speaker 16: you know, sib is a publication. They denounced this kind
Speaker 16: of investment. They denounce it.
Speaker 2: Everybody saw it. You understand, I can to shave my
Speaker 2: money away from the bank. They need to do something
Speaker 2: with my money. But because to go back to the.
Speaker 16: Main question I said in a limbo show, very close
Speaker 16: to Sibet's office is a new structure.
Speaker 1: That was just completed. Nobody we knew before Sybet's office.
Speaker 1: I was there on Tuesday.
Speaker 16: Try to add to a lot of two people questions.
Speaker 16: They actually knew responsive. They actually believe they know hundred
Speaker 16: percent of their new responsive.
Speaker 1: So we've said it all on this platform. They knew,
Speaker 1: but they wanted to get it fast.
Speaker 16: The first person, you understand, and as well, we've called
Speaker 16: traffic testimony.
Speaker 1: My neighbor did collected and so the money my uncle
Speaker 1: brother did you know? They are the disposed and they
Speaker 1: is going to crash. They know, they know it's going
Speaker 1: to crash. And you will be shocked that a lot
Speaker 1: of Ingeria that moved to the UK they did this
Speaker 1: more it was confirmed.
Speaker 16: A friend of mine was telling this that a lot
Speaker 16: of people in their community what they did.
Speaker 1: It it is in Ny. Something is in the Gerian blood.
Speaker 1: Thing is in us Jesus. Yeah, go ahead, I'm not talking.
Speaker 1: Go ahead, is in us? Is in US?
Speaker 16: It's it's it's it's an adjuct to all Jurians. Speaking
Speaker 16: to somebody in the United States. Was telling me about
Speaker 16: how these people can be called, can be stopped, can
Speaker 16: be appreended. I was telling me something about the eys
Speaker 16: A financial ownership information.
Speaker 1: Oh no, this is them is just too bad. This
Speaker 1: time is not helping anybody.
Speaker 2: But there are red flags to investments you're investing to our.
Speaker 16: Indicator platform, that their app cannot be easily downloaded from iOS,
Speaker 16: from place too, from.
Speaker 1: Telegram group alone, five one hundred percents. Wow, it's it's
Speaker 1: actually yours.
Speaker 2: You understand any investments that we ask me to bring
Speaker 2: two people call you.
Speaker 1: You know everything. They all know. They all know. I
Speaker 1: don't pity them. I don't got I only.
Speaker 16: Putty the institution and the community belongs to There is
Speaker 16: nothing about educational and awareness.
Speaker 1: Financially. Everybody knows everything. They know what they want to do.
Speaker 2: No investments can give you such from they know, they
Speaker 2: know it's posive. They're even looking for other Pozy now
Speaker 2: so it is an interial thing.
Speaker 1: Thank you so much.
Speaker 2: Yeah yeah, because I think just for me to close
Speaker 2: down and for allowing to occur, I think everything Worll
Speaker 2: said and us these new bodies copying fans