IN SHORT: Some Facebook posts claim that an investment platform known as Omega Paid investment is “100% legit”. But users should proceed with caution - there are too many red flags about its promises.
“This Is a unique and legitimate platform that gives you double of your investment within 1hr and without referral a trial will surely convenience you,this platform is really paying now,” reads a post on Facebook from the page Omega Paid Investment Limited.
The post, published on 20 June 2023, includes a video of a man claiming to have seen “tangible, positive” results from the platform. He also shows what he says is a car for his wife bought with the dollars earned from the business.
Interested users are encouraged to reach out via the WhatsApp link attached.
Similar posts can be found here, here, here, here, here, here, here and here. But most of these are from pages that haven’t posted for months.
So is this investment platform legitimate? We checked.
If the deal is too good…
The page started life as “Homepage lifestyle” in April 2023, before changing to its current name a month later. This is according to its profile transparency page.
It also last posted in June 2023, which is unusual for a business as successful as it claims to be.
Another red flag is the promise of unrealistic returns. The posts claim that the Omega investment platform can double your money in an hour.
Nigeria's financial crimes watchdog has warned the public against investing in platforms that offer high returns in a short period of time.
An additional warning sign is asking users to reach out via WhatsApp. This approach is often used to get users to disclose their personal information and which could lead to identity theft.
Africa Check also searched Nigeria’s businesses register and found no business called “Omega Paid Insurance Investment” or “Omega Paid Investment Limited” or any of the other variants.
A company is required to register with the Corporate Affairs Commission if it is to operate as a legal business in Nigeria. A search here also came up empty.
Africa Check has previously investigated similar suspicious 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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