“Have you heard anything about the ongoing empowerment program Nigeria social insurance Investment Platform NIG. LTD,” it reads. “This Is a unique and legitimate platform that gives you double of your investment within 1hrs and I have been paid.”
The post, published on 14 July 2020, offers investment packages such as “N20,000 to get N40,000” to “N500,000 to get N1 million”. It includes a phone number for people to call or WhatsApp.
It also has a video of woman dressed as a nun who says money she invested in the scheme doubled, even though she initially doubted its authenticity.
Is this investment offer legit?
Several impostor pages
The Nigeria Social Insurance Trust Fund (NSITF) is a real government institution, backed by law, that works to ensure all employers adhere to the employees’ compensation scheme. But the Facebook page is not connected to the organisation.
The page was only created on 14 July. The post, published the same day, remains the only one on the page. A private Gmail address is given in the contact details, not an official NSITF address. The poorly written page description says it’s “a platform that gives you double of what you invest in less than 45minutes”.
We found at least six other Facebook pages and groups running similar money-doubling schemes using the NSTIF name. They were all created between May and July 2020.
The fund’s official Facebook page was created in December 2012 and has been liked by more than 6,000 Facebook users. It includes the official contact email and a link to the official website.
A notice on the NSITF website and Facebook page warns of “some unscrupulous fraudsters who have been using the Funds name, logo and also photographs of the Management, staff and events to defraud unsuspecting members of the public”. – Allwell Okpi
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