Top 10 Ponzi Schemes That Scammed Nigerians

2. Ultimate Cycler

Ultimate Cycler operated as a donation and referral-based scheme that promised participants significant returns through a matrix system. Like many similar schemes, it eventually crashed, leaving many members stranded.

3. Twinkas

Twinkas emerged shortly after MMM gained popularity. It promised participants up to 200% returns through a peer-to-peer model. The platform eventually became unsustainable and collapsed.