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flag Nigerian investors defrauded billions by Ponzi schemes, with government failing to curb fraud.

flag Nigerian investors have fallen victim to numerous Ponzi schemes since 2016, including the infamous MMM Nigeria, which collapsed in 2016, and more recent schemes like CBEX. flag These fraudulent operations have defrauded victims of billions of naira, using promises of high returns and leveraging social media and celebrity endorsements. flag Despite warnings, the Nigerian government's inability to effectively regulate and combat these schemes continues to expose its citizens to significant financial risks.

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