Download This PaperPonzi Schemes: The Illegitimacy and Legal Implication in Nigeria
5 Pages Posted: 28 Aug 2020
Date Written: July 10, 2020
Abstract
The article scrutinizes the legitimacy of a current, famous and quick means of making money in Nigeria; Ponzi scheme. It has the perspective that ponzi scheme is expressly illegal in Nigeria relying on valid laws. Furthermore, it advises individuals to abstain from participating in ponzi schemes as there are grave penalties stated out by the law.
Keywords: Ponzi Scheme, Central Bank of Nigeria, Securities and Exchange Commission Act, Banks and Other Financial Institutions Act
JEL Classification: K22
Suggested Citation: Suggested Citation
Fowowe, Adetomiwa, Ponzi Schemes: The Illegitimacy and Legal Implication in Nigeria (July 10, 2020). Available at SSRN: https://ssrn.com/abstract=3655152 or http://dx.doi.org/10.2139/ssrn.3655152