Back to Africa Check

Ignore Facebook posts using old videos of Nigerian influencer Ola of Lagos to promote a fake investment platform

IN SHORT: Potential investors in Nigeria can double their money through a company called Meta Mining Club, according to the Facebook page “MMC Investment Platform”. But be warned, this might be a scheme to steal your money and personal information.

The Facebook page MMC Investment Platform is calling on users to grow their money with an investment platform called Meta Mining Club.

“*SEE WHAT META MINING CLUB INVESTMENT IS DOING IN THIS COUNTRY RIGHT NOW*Being poor is very simple. Just stay where you are and watch Opportunities pass you by … META MINING CLUB is a multi-level  MKT company that is Paying constantly,” reads part of one of the page’s posts.

The post includes a link to a Google form and a video of a popular social media influencer, Waris Akinwande, explaining how people can make money using Bitcoin mining machines. Akinwande, also known as Ola of Lagos, is famous for advertising luxurious properties and cars in Nigeria.

Bitcoin is a digital currency that allows for peer-to-peer transactions without a central authority, like a government or bank. People make money from Bitcoin mining by investing in specialised hardware designed to efficiently solve the specific mathematical problems required for mining.

The video has been watched by more than 22,000 users. It was also posted here, here, here, here, here, here, here, here, here, here, here, here, here, here, here, here, here, here, here, here, here and here.

But can the page and Meta Mining Club Investment be trusted? We checked.

MMCInvestment_Scam

Suspicious page

The Facebook page MMC Investment Platform has only 219 followers, a low number for a page trying to convince users to put their money and trust in an investment platform. Credible businesses usually have thousands of followers.

According to its page transparency section, the page was created on 13 September 2023, possibly for the sole purpose of scamming users.

The poorly written posts and a sense of urgency, often saying “Join us now”, further raised our suspicions.

We clicked on the Google form link attached to the post and it required us to fill in our personal details, such as name, phone number and email address. It also asked us for our banking details, including account number and bank name. 

At the top of the form is a promise to double your investment within four hours: “For Example If You Invest With 50,000 Within 4hour  the trading drops and we Make Profit Of 150,000 Then Send 100,000 To You Then Profit Of 50,000 Is For meta mining Networking forum.”

At the bottom of the form are banking details where users can deposit their initial investments.

Another option is for interested users to send a message to the WhatsApp number provided on the Facebook post. Both the Google form and registering via WhatsApp are common tactics used by scammers to obtain users’ information, which may be used for fraud.

Nigeria’s Corporate Affairs Commission, which regulates the creation, operation and dissolution of businesses in the country, has no record of a business named “Meta Mining Club Investment”. This could mean the platform is operating illegally or simply doesn’t exist.

Influencer says video was used maliciously

On 13 August, Akinwande took to Facebook to warn the public to be careful of scammers using his videos.

“This is to inform y’all that there’s a fake company on social media using a video I made for a particular company to promote their scam. Many people have been duped which really break my heart. Pls don’t fall victim,” he wrote.

Posting content featuring celebrities is often a way of gaining the trust of unsuspecting users and an attempt to legitimise the platform.

Africa Check has debunked a similar Facebook account claiming to offer investments to Nigerians.

To help protect yourself against online scams, read our guide to Facebook scams and how to spot them.

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.