Pastor Chris Oyakhilome took to his verified YouTube account, to warn Nigerian Christians about Ponzi schemes.
Here is the link to the YouTube video of Pastor Chris warning to Christians:
But in case you don’t have the luxury of time and data, here is everything Pastor Chris Oyakhilome said in the video:
Something was reported to me recently. I don’t know the full details but I need to warn you about it. I’m informed that there is some form of ponzi schemes that’s going on. Ponzi schemes have taken place many times around the world and in different countries, and a lot of times, many of God’s people fall prey to ponzi schemes. If you don’t know what a ponzi schemes is, I’ll just tell you briefly.
The name ponzi for the schemes is derived from a man that’s originally connected to name of Charles Ponzi, and he had several different names that he went by, but he was known as Charles Ponzi. He was an Italian and eventually carried out his schemes in United States and Canada. Now, how a ponzi schemes works is that, those who invest their money into the scheme, are eventually paying with money that newer investors bring in, which means it’s not really a business.
Money is paid to those who are so called investors by the money brought by others. Which means, somewhere along the line it will collapsed. So, ponzi schemes always collapsed, but because the earlier ones got the money out of it, they help to publicize it and help to get others to join, not knowing that troubles is coming and it always comes, because they can’t sustain the promises that they made, because it’s not really a business. You are always told that there are some business they are doing, that causes such profit to come, but if it’s a ponzi schemes, it’s always a ponzi schemes.
It relies on the money brought in by the people you bring in. Someone tell you to bring your friends, cousins, everybody and they all bring in their money. Now, I warn you about it because such things always fail. You’re going to get into trouble by that scheme of a thing. Here is another area about the ponzi schemes I’ll like you to talk to you about. Some people are forced into a ponzi schemes, I’ll explain. In good business, it could become a ponzi schemes especially with people who don’t know how to say NO!
It’s simple, here is how it works. How a good person becomes a perpetrator of ponzi schemes and a good business turns into a ponzi schemes. So, I’m doing a good business and everything is going well, then he comes to me and says, can I invest into your business. So, I accept his investment into my business. It’s accidentally turns into a ponzi schemes or it is a ponzi schemes originally, whatever it is.
I’m saying you gonna be careful. Don’t run a ponzi schemes because all ponzi schemes are going to have problems down the road. So, don’t say you are not warned, be warned and those of you who are always looking for where to put your money, and looking for someone who is going to multiply it 100times for you. Sometimes, you are the problem and you don’t steal or take money that is not yours. You borrow money to go and put it there.
I warn you, so don’t say you are not warn and I hope no Pastor is running a ponzi schemes, because you are not sent to do one, don’t do it. The one I know is Jesus Schemes.
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