Dangote Disowns New Ponzi Scheme

The Dangote Group has warned Nigerians to ignore a new Ponzi scheme that claims collaboration involving “Dangote brand, Nestle, Cussons and other reputable food processing companies” in the country.

The purported ‘Happy World Meal Gate’ scheme recently announced plans to launch a multi-level marketing initiative meant to “fight hunger, poverty and stop recession” by rewarding participants through food prizes.

But according to Dangote Group’s Chief Corporate Communications Officer, Mr Anthony Chiejina, “Contrary to the publication widely circulated on social media and mobile instant messaging application, the Dangote brand is neither the initiator nor a partner to the ‘Happy World Meal Gate’ Ponzi scheme and strongly warns the public against participating in such malicious schemes aimed at defrauding unsuspecting participants of their hard earned money.”

Chiejina said in a statement in Lagos on Monday that: “The faceless entities behind the scheme have sought to achieve cheap legitimacy by associating themselves with the Dangote brand and other reputable multinationals and efforts are ongoing to track and prosecute these for unlawful use of our brand name.”

He warned that like every fraudulent investment operations, any pyramid recruitment scheme with all mathematical permutations always result in dire consequences for participants who end up losing their hard-earned money.

The Group’s image maker urged members of the public to always verify any information about the brand on its official website, www.dangote.com before taking any action.

The so-called “Happy Meal Gate” joins the growing list of Ponzi schemes in Nigeria since the country slipped into recession. Targeted at the most vulnerable and poor in the country, these funny arrangements easily capitalise on the harsh economic condition to promise its customers immediate financial benefits and out-of-this-world financial returns on their investments.