Back to Africa Check

Double your money with Nigeria Social Insurance Trust Fund? No, it’s a scam

The single post on the Facebook page “Nigeria social insurance trust fund” promises to double investments within an hour. 

“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.

‘Unscrupulous fraudsters’

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

Republish our content for free

We believe that everyone needs the facts.

You can republish the text of this article free of charge, both online and in print. However, we ask that you pay attention to these simple guidelines. In a nutshell:

1. Do not include images, as in most cases we do not own the copyright.

2. Please do not edit the article.

3. Make sure you credit "Africa Check" in the byline and don't forget to mention that the article was originally published on

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.