By Ed Malik, A | ed@ddnewsonline.com | posted 5th April, 2025
The rapid progress in technology and the economic realities of today have also created an underground rogue ecosystem of fraud and black market. Online scams have become increasingly common in Nigeria, with fraudsters using various tricks to deceive unsuspecting individuals.
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From Ponzi schemes to fake job offers, online scams have led to the loss of millions of naira. While many Nigerians have become more aware of these fraudulent activities, new scams continue to emerge.
There are several common online scams in Nigeria which you should identify and avoid by all means. Topping the ladder of scams is harmless investment schemes like Ponzi and fake Crypto platforms. Usually, the fraudsters promise unrealistic returns on investment, often claiming that you will double or triple your money within days or weeks. Examples include fake cryptocurrency platforms and Ponzi schemes like MMM and Loom. However, there are red flags that you can spot easily, which includes high returns with little or no risk, pressure to recruit others and no clear business model or proof of revenue generation.
Another common online scam avenue is promoting fake Job offers and employment. The modus operandi of the scammers is to send emails or messages offering high-paying jobs with little effort. The victims are often asked to pay a “registration” or “processing” fee to secure the job. The red flags to watch out for are obvious to the discerning eyes. You will realize that the company has no online presence, they ask for money upfront and are not interested in formal interview process.
People need to watch those Online Shopping and Fake E-commerce Sites. Online monitors have disclosed how fraudsters create fake online stores on Instagram, Facebook, or websites selling phones, clothes, and other goods at cheap prices, with victims urged to make payments but never receive the product. People have to check first, if the e-commerce sites have verified reviews or business address and see if the website was recently created. If they accept only payment via bank transfer (no cash-on-delivery option, that’s circumspect.
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In recent years, romance and dating scams has added dimensions to the scams environment. Usually, the scammers pose as rich foreigners or professionals on dating apps like Tinder and social media platforms. They build relationships and eventually ask for money, often claiming they need help with medical bills, travel expenses, or business emergencies. But take a pause especially when they profess love too quickly, refuse to video call or meet in person and ask for money in cryptocurrency or gift cards.
Others include lottery and giveaway scams, online loans, banking and email scams using Phishing. For lottery, victims receive messages claiming they have won a lottery, giveaway, or cash prize. Scammers then ask for a “processing fee” before they can receive the prize but remember you didn’t enter into lottery. Usually, these low-rated scammers have poor communication skills like grammar or spelling.
For the fake loans, fraudsters set up fake loan apps promising quick loans without collateral. Victims, then are asked to provide personal and banking details, which are later used for identity theft or unauthorized withdrawals. The fiscal red flags include high-interest rates and hidden charges, requests for BVN or sensitive banking information and a lack of honest reviews from past users.
For the scammers versed in phishing, they send emails pretending to be banks, government agencies, or companies asking for sensitive information, asking you click on fraudulent links can lead to identity theft or malware infection. The cautionary button is that the email is from an unofficial domain (e.g., “gtbanknigeria@gmail.com” instead of “@gtbank.com”) or sometimes, a urgent request for personal or financial details.
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But one can establish personal insulation to protect yourself from Online Scams, with basic points like Verify-before-you-trust, never share sensitive information, Use secure websites, be sceptical about too-good-to-be-true offers and at the end, If you suspect an online scam, report it to the Economic and Financial Crimes Commission (EFCC) or the Nigerian Communications Commission (NCC).
Best of all, be a brother’s keeper by warning friends and family to prevent them from falling victim.
Really enjoyed this! Your perspective is refreshing and thought-provoking. Keep it up!
Your perspective is refreshing and thought-provoking. Keep it up!
Thanks for this! So many scams these days, it’s getting harder to tell what’s real and what’s not.
I always tell people—if it sounds too good to be true, it probably is. Trust your gut!
One thing that helps me is checking if the site has ‘https’ and a padlock. Simple but effective.
Nigerian scammers are getting smarter, we also need to get smarter. Stay woke, people!
I once got scammed by someone pretending to be from my bank. Never again. Always double-check!
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