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.
‘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.
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