IN SHORT: Monieflow, an investment platform promoted on Facebook, promises members credit for completing small tasks. However, it’s deceptive and exploits members to boost social media visibility while charging a hefty registration fee.
Facebook users are urging others to join an investment platform named "Monieflow”.
One post reads: “Make N3000 daily and cash out every week. The registration fee is 500 naira. Monieflow isn't playing, I doubted at first but I’m smiling now.”
Another reads: “MONIEFLOW ISN'T HERE TO JOKE!! MONIEFLOW Pays whether you refer or Not!! Cashing out here and there with the power of #500 only! Kindly message me on 07066148919 to get started.”
The posts include screenshots of payments, apparently received from the investment platform.
We found similar posts here, here, here, here, here, here, here, here, here, here, here, here, here and here.
But how legit is this platform? We checked.
Beware of scam!
According to Dupli Checker and DNS propagation checker, the website Monieflow was created on 31 January 2024.
The one-month-old investment platform promises users a certain amount as a return on investment for referring other users or for daily tasks that include posting on social media platforms.
Africa Check searched for “Monieflow” on Nigeria’s Corporate Affairs Commission and Securities and Exchange Commission and found no business or platform registered with such a name.
When we looked up the platform on ScamAdviser and Safewebtalk, the ratings were low. ScamAdviser rated the site one out of 100 indicating that there was a “strong likelihood the website is a scam” while Safewebtalk said the website seemed “dangerous” as it was newly created.
We also checked the platform's Facebook page and saw it was only created on 21 February. Users should be wary of new enterprises promising immediate returns. This is one of the red flags highlighted by Africa Check – a “high profits in no time” hook.
Africa Check has also debunked similar investment claims here, here and here and found them to be fraudulent.
To further protect yourself from falling for scams on Facebook, read our guide.
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