IN SHORT: Posts on Facebook claim that Nigerians can double their money in less than an hour using this platform. But it’s just another scam.
Several social media posts have claimed that an investment platform, variously called African Labour Liberty and African Labour Investment, can double your money.
These posts can be found on Facebook here, here, here, here, here, here and here. They include a WhatsApp link for interested users to sign up. Many also include screenshots claiming to be proof of payment.
“I never believed that this is true, but I got my money back in double folds. This is my second time investing in the AFRICAN LABOUR INVESTMENT,” the posts typically read, in part.
Many users have shown interest. But is the platform legitimate? We checked.
‘Double your money in less than 45 minutes’
By clicking on the WhatsApp link attached to the post, Africa Check discovered that the platform is run by different people, but using the same format.
They sent us videos of users reviewing the investment platform as testimonials. They also sent us a list of payment packages showing how much to invest and the return – always double what you invest.
Your money would also be in your account in “less than 45 minutes”, they said, with registration the only requirement.
We selected a package and filled in the required details such as our name, bank details and occupation. We were told that our registration had been successfully processed.
Using online bank transfer interfaces, we found that the accounts provided belonged to two people – Kelechi Salome and Omowunmi Samson. After a while, the two of them began to incessantly ask for money through multiple phone calls and a barrage of text messages.
This was a major red flag.
Seeking quick gains could end in misery, state says
Africa Check has a guide on how to spot scams on Facebook. Warning signs include investment schemes that promise unrealistic returns within a short period of time.
Nigeria's Economic and Financial Crimes Commission has also warned Nigerians against such fraudulent investments, saying that the “temptation of quick gain could end in misery”.
The commission said it had been inundated with cases of such scams.
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