News Beyond Boundaries

Abiku Theory of Loom Ponzi

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By Ajogwu Jerry Ochada

Walking down the dusty road of Etutekpe, Pastor Adukwu visibly looked calm even though his inner mind was preoccupied with many life bothering issues ranging from how to raise the fees for his kids / wards and the basic needs of providing dinner for members of his household that fateful evening made him to ponder in futility.

Adukwu Aduga is a branch Pastor of one of the new generation churches springing forth with advertisements of new anointing however with low membership drive. Even though many ‘men of God’ propagating the tenets of Christianity were caught in the web of scandals and controversies in Etutekpe region, the publicly attested integrity of Adukwu continued to soar high amidst admiration. According to his usual parlance, “man must not live by bread alone” hence he believes in the supremacy of God providing his daily needs.

As he approached a T-junction very close to the dilapidated village primary school, his attention caught one of his choirmaster, brother Obaje, battling with gestures to explain a point to the old village headmaster, Pa Ikani.

He drew closer, exchanged pleasantries with the discussants and continued with his stroll of introspective guide with his heart skipping beat as he gradually approach home.

“If you start with 13,000 naira, you will be paid 104,000 naira the following day. It’s fast and reliable”. Obaje implored Pa Obaje to give it a try.

Pastor Adukwu turned back immediately he heard the bombshell of paying a few thousand naira to get more money. He joined the discussion and told himself, ” I will use the church money in my possession and before the church council meeting on Sunday, I will be a millionaire “. He hurried back to Church alongside brother Obaje to get the monies as Pa Ikani left the duo and rode on his old rickety bicycle back to his abode before the cover of the night. Pa Ikani is a principled man who believes in the financial doctrine of working hard to make money. For him there is no easy money anywhere.

As they approached the church premises, Pastor Adukwu was convinced beyond reasonable doubt that he is already a millionaire. This is the first time he is attempting to utilize church funds to be replaced later. He resolved to sell the new idea to church members to enable them succeed together.

He opened the door to his thatched roofed office and accessed the corrugated piggy bank styled box. He opened it and hurriedly counted the sum of 13,000 naira and handed it over to brother Obaje.

“Pastor, you know anything in life is worth taking risk. I vowed never to do any Ponzi scheme ever since MMM dealt with me but this one is real,” Obaje recounts his ordeal as he count the sum of money.

“My spirit signals me this one is different. Immediately I cash out the first money, I will involve most of our rich brothers and sisters in the church. Please let me allow you go, so that your up line can send the money. 24 hours from now I know I’m going to smile,” Pastor Adukwu replied.

Obaje left the church premises knowing fully well his bait was able to catch Pastor Adukwu because Pa Ikani is a disciplined old man who is less concerned about easy wealth. Adukwu was full of joy when he arrived his residence to meet Aladi, his wife preparing dinner.

“Ufedomi, by this time tomorrow, we are already millionaires,” he announced his arrival with a smile exposing his masculine fitted gap tooth dentition.

Aladi leapt for joy even though in disbelief as she struggled using one hand to support her wrapper from losing grip on her waist. “What did you say? Millionaire? How? Please don’t pull my legs,” she begged for explanation.

Pastor Adukwu explained bit by bit all he was told by Obaje. In the aftermath, the couples had one of the best night ever as the husband woke up with assurance the next day by informing his wife, “Tears may last for the night but joy comes in the morning”. This is our day of breakthrough.

In summary, by 5pm Nigerian time, Pastor Adukwu stormed the residence of his member only for him to meet the reality. He need to refer four other people, his referrals also need to do same to make it work. He fainted and was revived at the home of a herbalist.

The above scenario is a picture of the ongoing but dwindling trend of Loom Ponzi scheme in Nigeria. The writer cannot ascertain the origin but just like the now unpopular MMM ponzi, many Nigerians are foolishly falling as preys to the merchants of money doubling propaganda. No doubts, so many persons may be lucky to “cash out” but it is intelligent to note that many other ‘investors’ will fall as victims. The hullabalo anchored on the dividends of Loom Ponzi is declining on daily basis perhaps people are learning from their mistakes. The testimonies is also reducing maybe because the victims of MMM are not willing to invest.

On a wider scale of assessments, Loom scheme can be linked or likened to the African deity beliefs of Abiku – a child destined to die immediately after birth – because just few months after the juicy fortunes and opportunities flowed to the shores of Nigeria, it is witnessing a fast decline leaving those who attempted to gamble; battling on daily basis to lure unsuspecting victims.

Nigerians are lovers of adventure. We do not learn from mistakes and we can not be solely blamed when it becomes misadventure. The economy of our beloved nation may not be profitable but according to one of the holy books, “wisdom is profitable to direct”. The Abiku theory of Loom Ponzi should be an Eye-opener to those who are still interested in gambling their limited wealth across the shores of murky water. Suicide is on the increase and one of the best ways to avoid quick depression is to avoid falling victims to Loom advertisements.

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