People fall prey to Ponzi schemes due to greed – NDIC

This is as the corporation maintained that ignorance, financial illiteracy, bullish risk appetite, regulatory arbitrage and failure of information were part of what sustains ponzi schemes in Nigeria.

Speaking at the 2022 workshop for Journalists in PortHarcourt on Monday, Mr. Micheal Oladele, the Director, Bank Examination Department (BED) of NDIC, said constantly building both human and regulatory capacities to meet up with evolving activities of ponzi schemes was necessary.

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