The Ponzi scheme community in Nigeria has been going through a trying time since the beginning of December, on 2nd of this month the website of the second largest pyramid scheme in Nigeria ultimatecycler.com crashed, the founder of the scheme Peter Walfing first gave an eight days period of reprogramming but all hopes were dashed when on Sunday 11th December the portal failed to come back as promised.
Earlier this week, Mr Walfing uploaded another video describing the new features and packages of the second coming of ultimate cycler, but apparently Nigerians are no-longer buying the story as yet another shocker was dropped on the ponzi scheme community when MMM Nigeria, the pioneer of the schemes freezed all funds in the system.
There has been warnings from government agencies in the past against participation in ponzi schemes, again the Central Bank of Nigeria (CBN) issued a second warning urging Nigerians to stop “investing” on such ventures as they are designed to fail at some point.
The response from the latest plea from Peter Walfing for yet another wait may not be taken for what its worth after all, most users on facebook are saying they are tired of waiting.
MMM Nigeria also placed users in waiting till January 14, it is yet to be seen if these ponzi scheme sites will make a come back or perhaps we are seeing the end of ponzi schemes in Nigeria.
Below are sample of the response Peter Walfing of ultimate cycler got from Nigerians:
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