Back to Africa Check

Double your money with Helping Hand Investment? No, it’s a scam

IN SHORT: A Facebook post is offering to double users' money with Helping Hand Investment, claiming it is legit. But there is no business by that name in Nigeria – it’s a scam.

"This platform I posted is real and legit platform I just try it and I was credited successfully when I got introduce I was so scared before I try it but now I hand been paid I really appreciate I no you may be scared friends but am giving you the assurance," reads a post on Facebook.

The 6 August 2023 post encourages those who want to invest with Helping Hand Investment to reach out via the WhatsApp link attached.

The post also features a screenshot showing funds deposited into the user’s account. This is possibly an attempt to convince others that the platform is genuine.

Most of the more than 70 comments on the post are from users saying they’ve received their investment returns, with others also attaching screenshots of proof of payments.

Similar posts can be found here, here, here, here and here.

But is Helping Hand Investment legit? We checked.

HelpingHand_Scam

‘Central Bank of Nigeria Helping Hand Investment’ a long-running scam

In 2022, Africa Check investigated a similar claim where several Facebook pages used the name of the Central Bank of Nigeria (CBN) and linked it to Helping Hand Investment. One of those pages was named CBN Helping Hand Trading Investment.

In a tweet, the bank said it was not affiliated with any Facebook page offering investment opportunities to Nigerians.

“The Central Bank of Nigeria wishes to dissociate itself from online schemes such as CBN Helping Hands Investment Programme purporting to be the bank's representative,” the bank said on Twitter in September 2022. (Twitter was rebranded as X in July 2023.)

The Helping Hand investment platform was a scam then, and all signs point to it being a scam now.

Signs of a scam

One of the signs of an investment scam is poorly written communications. A post that tells users to “Click on the whatsapp link now to chart the admin for registration payment is ongoin” raises suspicion.

Another indication is when a post asks users to reach out via WhatsApp. Here the aim is often to obtain personal and banking details. 

Nigeria’s Corporate Affairs Commission has a record of an inactive business named Help Hands Investment Multipurpose Limited, but nothing on “Helping Hand Investment Platform”,  which is the company being promoted by the suspicious post. The commission regulates the creation, operation and dissolution of businesses in the country.

Africa Check has previously investigated similar false investment schemes here, here and here.

For more, read our guide to spotting investment scams on Facebook.

Republish our content for free

Please complete this form to receive the HTML sharing code.

For publishers: what to do if your post is rated false

A fact-checker has rated your Facebook or Instagram post as “false”, “altered”, “partly false” or “missing context”. This could have serious consequences. What do you do?

Click on our guide for the steps you should follow.

Publishers guide

Africa Check teams up with Facebook

Africa Check is a partner in Meta's third-party fact-checking programme to help stop the spread of false information on social media.

The content we rate as “false” will be downgraded on Facebook and Instagram. This means fewer people will see it.

You can also help identify false information on Facebook. This guide explains how.

Add new comment

Restricted HTML

  • Allowed HTML tags: <a href hreflang> <em> <strong> <cite> <blockquote cite> <code> <ul type> <ol start type> <li> <dl> <dt> <dd> <h2 id> <h3 id> <h4 id> <h5 id> <h6 id>
  • Lines and paragraphs break automatically.
  • Web page addresses and email addresses turn into links automatically.
limit: 600 characters

Want to keep reading our fact-checks?

We will never charge you for verified, reliable information. Help us keep it that way by supporting our work.

Become a newsletter subscriber

Support independent fact-checking in Africa.