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What Is A Ponzi Scheme?

Business Dictionary aptly defines a Ponzi scheme as a SCAM in which a GULLIBLE group is enticed with the promise of very high returns in a very short time, but is actually based on paying off the early 'investors' from the cash from (hopefully ever increasing number of) new 'investors.' Investopedia reconciles a Ponzi scheme with a pyramid scheme in that both are based on using new ‘investors' funds to pay earlier participants. Essentially, such schemes are synonymous with ‘’Robbing Peter to Pay Paul’’. A typical Ponzi scheme flops when the cash outflow exceeds the cash inflow. Ponzi scheme is named after Charles Ponzi (1882-1949), an Italian immigrant to the United States who, during 1919-20 collected more than fifteen million dollars from some 40,000 enthusiastic depositors by promising to double their investment in 90 days.

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SERIES: BUHARISM AND THE FIERCE URGENCY OF NOW

PART 5
Treatise on Customer-centrism...how to start putting customers first in Nigerian offices, both in the public and the private sectors.

“Your most unhappy customers are your greatest source of learning.”
- Bill Gates

THE NEW THINKING AND THE NEW ECONOMIES...THE BEAUTY OF COMMON LABOUR


All over the world public sector employment as I have continued to drum it in the ears of the leaders of the world, are highly elastic, whereas, actual creation and availability of jobs in the private sector are limitless, especailly with a creative, imaginative, innovative and inventive leadership - and what is more, what the individual can do for themselves when it comes to job creation and identifying opportunities, both are boundless as every individual on earth, no matter their condition, even those the Nazis had wrongly tagged the "Unproductive National Comrades" (UNC), is a walking factory; a walking business; a walking business house; a walking office; a walking retail park, a walking business centre; a walking business park, a walking shopping centre, a walking shopping plaza, a walking shopping mall, etc.  

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SERIES: BUHARISM AND THE FIERCE URGENCY OF NOW

PART 4

Treatise on Customer-centrism...how to start putting customers first in Nigerian offices, both in the public and the private sectors.

“Your most unhappy customers are your greatest source of learning.”
- Bill Gates

"In the coming years, Africa must brace up and confront poverty in her midst very frontally as a lion would charge at a prey that has just strayed into its den, tearing it apart, and subsequently devouring it, because before Africa and Africans in the years coming, the choice is - either Africa very frontally confront poverty, knock it out of existence and rid herself of this unwanted plague that has been with her for ages and ravaged the whole continent subsequently; or poverty will do its fiercest battle with Africa and drive her into extinction."


WHY AFRICA HAS A RENDEZVOU WITH POVERTY/SUFFERING AND ALWAYS STRETCHES ITS BEGGING BOWL TO THE NATIONS AT THE WORLD'S BEAUTIFUL GATE


 
Ms Winifred Ekanem Oyo-Ita, Head of the Civil Service of the Federation: Is she equipped to kick-start the much needed revolution in the civil service such as will culminate in the nation having a new civil service and new civil servants with a new work ethics fuelled by unalloyed patriotism?


 
The Nigeria High Commission office in London: It is supposed to be a place whose original vision was to offer succour, comfort and peace to all Nigerians resident in Britain; a place designed to be a refuge for those Nigerians suffering racism in Britain; brow-beaten by the British system; a refuge for the heavy-hearted, the weary, the anxious, those without hope seeking love, friendship and needing hope, but has now been turned into a HOUSE OF CORRUPTION, HOUSE OF HARRASSMENT, HOUSE OF ARROGANCE by the greedy, indolent, self-centred, disloyal and corrupt Nigerians who work therein, who daily harrass, harangued and bully fellow Nigerians who throng there on daily basis and treat them like beggars and nonentities. But is anyone outa there willing to clean up this filthy sepulchre, put a stop to the pervasive arrogance, idiocy, crass laxity, purposeless malignity, the general malingering and gross indiscipline that define this messy white-washed house?


Geoffrey Jideofor Kwusike Onyeama, Nigeria's Foreign Affairs Minister...what really is Nigeria's foreign policy thrust under this care-free boy and his nepotistic Daura boss...does anyone know? Just who are Nigeria's friends now?


 
Mr. Adah Simon Ogah...just a seat warmer and a rubber-stamp diplomat, out of touch with the current Nigerian reality and most probably, does not know and understand what his job specifications entail, hence Simmy is just wasting precious time, space and energy here in London, all at the expense of the toiling masses of Nigerians, whom Pharisaical Muhammadu Buhari, revelling in ceremonies, celebrating his 74th Birth Day Extravaganza with a parade at a time when poor and hapless Nigerians brow-beaten by the current reccession and his misgovernance are stealing basic things of life to keep their bodies and souls together have been reduced to mere almajiris and essential commodities stealers, rumaging bins and dump sites looking for crumbs for themselves and their families as a fulfillment of Umaru Abdulrahman Dikko's ignominious prophecy of yore.

THE mindset of the third servant in the parable of the talents explains why Africa, a very resource-rich continent is very, very, very, very, very, very, very poor with endless sufferings as the aftermath of its abysmal folly. But Africa has no business with poverty and must not be in poverty and poverty has no business with Africa because Africa is the custodian and trustee of the riches of the secret places and the store house of the treasures of the earth. Thus, there is therefore, no reason for Africa to be poor or be in poverty; still, there is no reason for poverty to be Africa or Africa to be poverty or poverty having a rendezvous with Africa, or Africa to have a rendezvou with poverty.


AFRICA IN TIMES OF THE FIERCE URGENCY OF NOW...MY (PERSONAL) WARNING TO AFRICA AND ALL PERSONS OF AFRICAN ANCESTRY


In the coming years, Africa must brace up and confront poverty in her midst very frontally as a lion would charge at a prey that has just strayed into its den, tearing it apart, and subsequently devouring it, because before Africa and Africans in the years coming, the choice is - either Africa very frontally confront poverty, knock it out of existence and rid herself of this unwanted plague that has been with her for ages and ravaged the whole continent subsequently; or poverty will do its fiercest battle with Africa and drive her into extinction.


THE NIGERIAN WORKERS OATH OF SERVICE (NWOoS)


Despite all of my frustrations with my race as expressed above, I for one, all hope is not yet lost; for its morning yet on creation day for Africa/ns and since I'm in the ministry of national orientation, aiming to bring about the Nigerian renaissance and subsequently, the African renaissance, and by extensition, the global or world renaissance, for at the moment, it seems to me, the whole world is not standing still, not standing on its feet, but standing on its head and moving backward and not forward, and if truth must be told, the whole wide world has regressed, regrettably, to the medieval era, hence I have come up with what I call variously as the Nigerian Workers Pledge (NWP); the Nigerian Workers Oath of Office (NWOoO), the Nigerian Workers Oath of Allegiance (NWOA) or the Nigerian Workers Oath of Service (NWOoS), in addition to fashioning a new morality for the whole world in an epoch that has been very erroneously referred to as "post-truth", for truth is constant/eternal, therefore, there can never be such a thing as pre-truth or post-truth world.


THE WORKERS PLEDGE


I pledge to serve my Creator, country and humanity in the little corner He has given me, faithfully, loyally with all my heart, mind, spirit, soul and body and strength, acting my part according to the ability He has given me; serving all as I would want to be served sometime, somewhwere and elsewhere in another office and at another place; putting first, all that come my way above myself; serving all whole-heartedly, irrespective of (their) creed, religion, philosophy, world view without asking for or seeking gratification/s or giving one/them to whomsoever I would from time to time need their services; serving without defrauding my employers of their time through/by going late to work or endless prayers just because I want to meet some gambit religious obligations, whilst being paid for the hours unaccounted for or unutilised for the purpose for which I am being remunerated, or such other habits as office mercahndizing; PP (private practice); endless chatter; gossips; sexual advances, escapades or exploits; just loitering around offices, balconies, loafing around in order to while away the time and later take off when my shift is over; going to pick up children at the expense of my employer's time; receiving visitors/relatives endlessly, thus promoting this or such other unbecoming attitude as will encourage the stealing of my employer's time; going on break and failing to return at the end of my break period because I decided to take it upon myself to close before the end of my shift including such other behaviours too numerous to mention here in this oath of allegiance - but to mention just a few others: texting, sexting, surfing the net, phoning relatives and friends endlessly, using office facilities and stationery for my private enterprises - all at the expense of my employer's time and finally, I aim to serve and make my little corner very clean and beautiful, for a sound mind is only to be found in a sound body - and on my epitaph, I want it written of me: I CAME, I SAW, I SERVED. AND SERVE WELL I DID!

ABOUT THE AUTHOR


John Odey Aduma was formely Executive Secretary, Foundry Association of Nigeria; Southern Coordinator of President Muhammadu Buhari's pastoralists NGO - THE PASTORAL RESOLVE; Chairman, Editorial Board of the Daily Times of Nigeria Plc; member, National Committee for the Nigerian Youth Festival, 1993; member, core Committee of the National Tecnology Summit and was the Summit's chairman for two of its sub-committees - Publicity and Exhibition, 1998; member of the Administrative Panel of Inquiry set up by President Olusegun Obasanjo to investigate the illegal trade in and smuggling of endagered species of wild fauna and flora into and out of Nigeria, 2003.
He was the Chairman, Planning Committee of the General Murtala Muhammed Memorial Lecture for two consecutive years, 2001 and 2002 before it attained a Foundation status in 2002, having first been upgraded to that status in 2001. General Murtala Muhammed was one of Nigeria's former Heads of State and was killed in the abortive coup led by the then Colonel Buka Suka Dimka on February 13, 1976.
That same capacity saw Mr Aduma delivering huge succcesses during the Daily Times of Nigeria's 75th Anniversary (in which he raked in N6, 000, 000 into the coffers of the Daily Times of Nigeria Plc) and also, playing a similar role in a similar capacity during  Dr Isma'il Babatunde Jose's 75th Birth Day. Dr Jose, doyen of Nigerian journalism was Mr Aduma's personal mentor. That relationship was so close and solid such that whilst Aduma was leaving the shores of Nigeria for Britain in 2003, Dr Jose gave him N10, 000.00.
In 1992, Mr Aduma's contributions to journalism was recognised with  the awards of the Nigeria Media Merit Award as the Investigative Reporter of the Year and the Diamond Awards for Media Excellence as the Reporter of the Year, and also, the British Chevening Scholarship, which saw him studying International Journalism at City University of London in 2003-2004, with specialism in Environment.
Aduma is the author of the inspirational best-seller, THE DIAMONDS ARE HERE and the founder of Vigilance, the World's Leading Security Magazine and Scorpion News Corp, in addition to founding the Nationalists Unity Movement of Nigeria (NUMON).

*To be continued.

God bless our Nigeria.

The Voice of One Crying from the Diaspora...

*Proudly leading the NATIONALISTS UNITY MOVEMENT OF NIGERIA (NUMON).


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SERIES: BUHARISM AND THE FIERCE URGENCY OF NOW


PART 3


Treatise on Customer-centrism...how to start putting customers first in Nigerian offices, both in the public and the private sectors.

“Your most unhappy customers are your greatest source of learning.”
- Bill Gates

HOW JESUS CHRIST CAPTURED THE NIGERIAN-AFRICAN MINDSET IN THE PARABLE OF THE TALENTS


WHY AFRICA IS POOR


In the parable of the minas, Matt. 25:14-30, the difference is not in the number of the talents given to the three servants by their big boss, but in their attitude.
Before proceeding any further, let us here tarry a while and amuse ourselves as I always do when I want to preach on this parable to audiences, especially trying to give the three servants cultural and racial identity - the one that had five talents (for the purpose of today's investment capital reality, let us say £500, 000xx) and made a 100% profit was a Westerner, representing all Europe and America; the one that had two pounds (£200, 000) and made a profit of £200, 000xx) was an Asian, representing all Asia Minor and Asia Pacific, whilst the third servant, who was given just £1xx (£100, 000xx), who later proved to be the 'wisest', very pompous and the agrressive one and decidded to bury it was an African (particularly, a Nigerian), representing all persons of African ancestry.
The reader must take note of the operating phrase: "...each according to his ability." The big boss to me was in every respect an impartial lender who was very much investment-orientated and being very investment-inclined, the BIG BOSS expected the loan to be invested and was expecting returns on such investments from his three servants.

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SERIES: BUHARISM AND FIERCE URGENCY OF NOW

PART 2


Treatise on Customer-centrism...how to start putting customers first in Nigerian offices, both in the public and the private sectors.

“Your most unhappy customers are your greatest source of learning.”
- Bill Gates


HOW CALLS AND COMPLAINTS ARE GENERALLY HANDLED IN BRITAIN, WHERE THE NIGERIA HIGH COMISSION IS LOCATED


What is more, in a world faced with security threats, these three officials cared less about my identity - introducing myself, in addition to their refusal to give me their names. Also, I did not think I heard a thing like: "....this call may be recorded for quality and training purpose" or "Your call is in the queue and a member of our team will be available to attend to you as soon as possible" or "If you are unable to stay in the queue, you could drop and we will call you on your number in 7, 9 or ten minutes!" Or such other recorded messages as in all offices in advanced societies, where from the Nigeria High Commission operates: "...Your call is important to us and will be answered shortly"..."Sorry your call is not being answered. A member of our team will be available soon", and following with a background soothing  music - or "Please continue to hold. A member of our team will be available shortly."

Our Aims

  • To expose all levels of corruption in Nigeria, especially official corruption and by so doing ensure probity and accountability in every sphere of the Nigerian life.
  • To within the body politic stir up the spirit of nationalism amongst Nigerians aimed at pushing back the tides of ethnic chauvinism, tribal jingoism, religious bigotry, oligarchism, cronyism and nepotism.

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