CBN WARNS AGAINST WONDER BANKS

The Central Bank of Nigeria finally confirmed that wonder bank schemes are scams! Kadija Kassim, the Head of Consumer Protection Department at the CBN, stated this during a mentoring programme for students of the Government Secondary School, Suleja, Niger State. In her words she stated “We have heard about the activities of MMM, but I want to warn you against it because they are wonder banks that are not regulated. Desist from their activities because they are fraudulent”. This statement has caused lots of arguments in many quarters. But why?

Get-rich-quick mindset has become a phenomenon in Nigeria as it is the fuel pushing Nigerians to all these Ponzi schemes and sports betting. How do I mean?

Do you know that About 60 million Nigerians between 18 and 40 years of age spend up to N1.8 billion on sports betting daily with an average of about N3000? As at now, Total number of youths between 18 and 40 are above 50m too. Do you know that the entire budget the government is working at for education in 2016 is 500bn? Do you know that 40 million Nigerian youths between 18 and 25 are unemployed? In the heat of recession amist 13.3% unemployment, 657bn still goes into betting! I mean, these are the reasons why it makes logical sense to government atimes to double taxes. With all the noise of recession, betting houses are as crowded as classes and the youths the government is borrowing for are busy betting away their few coins. Isn’t it funny?

Luck is at the Casino. He does not know you. Lucky is the god of gambling that every gambler’s mind prays to when he wants to throw the dice. His inner mind looks up in hope and shouts "Oh Lucky, Help me...." For life, Preparation will continue to meet opportunity at a J-curve. As for Luck, Every other thing luck brings returns to where they come. He is the only god that blesses laziness and seduces hardwork with a bikini called "waste-it!" Even the money we made legitimately is ready to jump out as SMS alert comes not to talk of the one deposited for gambling.There are few low hanging fruits out there. So when you pluck one and eat, learn to flatten your tummy. Everyone is waiting to collect what you have legitimately.

Worthy of learning is the music of Kenny Rogers “The Gambler" that says:

"On a warm summer's evenin' on a train bound for nowhere,
I met up with the gambler; we were both too tired to sleep.
So we took turns a starin' out the window at the darkness
'Til boredom overtook us, and he began to speak.

He said, "Son, I've made my life out of readin' people's faces,
And knowin' what their cards were by the way they held their eyes.
So if you don't mind my sayin', I can see you're out of aces.
For a taste of your whiskey I'll give you some advice."

So I handed him my bottle and he drank down my last swallow.
Then he bummed a cigarette and asked me for a light.
And the night got deathly quiet, and his face lost all expression.
Said, "If you're gonna play the game, boy, ya gotta learn to play it right.

You got to know when to hold 'em, know when to fold 'em,
Know when to walk away and know when to run.
You never count your money when you're sittin' at the table.
There'll be time enough for countin' when the dealin's done.

Now Ev'ry gambler knows that the secret to survivin'
Is knowin' what to throw away and knowing what to keep.
'Cause ev'ry hand's a winner and ev'ry hand's a loser,
And the best that you can hope for is to die in your sleep."

So when he'd finished speakin', he turned back towards the window,
Crushed out his cigarette and faded off to sleep.
And somewhere in the darkness the gambler, he broke even.
But in his final words I found an ace that I could keep.

You got to know when to hold 'em, know when to fold 'em,
Know when to walk away and know when to run.
You never count your money when you're sittin' at the table.
There'll be time enough for countin' when the dealin's done."

 The Apex bank in Nigeria is saying this is the time Nigerians should not just walk away but run even as the scheme still runs smoothly now! Stop basing your livelihood on a Pascal’s triangle or some dotted dice. Don’t lose your money because of a football match or game played across the Atlantic. Self-disciplined people succeed on the indiscipline of others. Plan within your means. Go get the best skills. Pass the most respected exams. Start a business. Innovate. Stay off schemes and betting.Drop the dice and work to win!

Leave the scheme and drop the die!