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Nigerians beware, ‘God’s Time Is Investment’ is just another Facebook scam out to steal your money

IN SHORT: Some Facebook posts claim that users who join the “God’s Time Is Investment” investment platform can double their money in less than an hour. Africa Check found that the platform is not legitimate and users should steer clear of it.

A Facebook user claims that the investment platform God’s Time is Investment is “very real”, adding that it is not a Ponzi scheme or a scam.

The 6 September 2023 post reads, in part: “I INVESTED IN THIS PLATFORM CALLED GOD'S TIME IS INVESTMENT!!! PLATFORM IT IS REAL AND LEGIT IT IS A PLATFORM THAT YOU PAY AND GET DOUBLE OF WHAT YOU PAID WITHIN 45 MINUTES.”

It has over 70 comments and includes screenshots of what appears to be proof of payment from the platform. The post also encourages users to “MESSAGE THE ADMIN FOR REGISTRATION NOW” via the WhatsApp link attached. 

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

But is “God’s Time Is Investment” to be trusted? We checked.

NgInvestment_Scam

Signs of a scam

The promise of quick doubled profits is one of the many indicators of a Facebook scam. These posts claim that this platform will double users’ money in a matter of minutes.

Nigeria’s Economic and Financial Crimes Commission previously cautioned the public against falling for schemes that offer unrealistic returns. The commission is responsible for the eradication of financial crimes in the country.

Posts that are poorly written should also raise concern. And if a post claims that the platform is “not a scam”, it usually is. Legitimate businesses rarely have to make this disclaimer and usually publish well-written content. 

That users are asked to register via WhatsApp is another reason why they should proceed with caution. This could see them disclosing their personal or banking information, which can be used to commit fraud. 

Under the Banks and Other Financial Institutions Act of 2020, businesses engaged in financial services must incorporate in Nigeria and obtain a licence from the Central Bank of Nigeria before carrying out their activities. The operations of digital financial service providers and financial technology firms are governed by the 2020 law and regulated by the central bank.

Africa Check also searched Nigeria’s business register for “God’s Time Is Investment” and found no business by that name. As with the 2020 law, the Companies and Allied Matters Act of 2020 requires interested parties to register a new company with the Corporate Affairs Commission

The investment platform was not found on the register and a financial company operating without registration with the CAC and licensing from the central bank is considered illegal.

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

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

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