Did we see this crash coming? Yes, sure.

Did MMM participants also see it coming? Hell yeah, they all did.

But because Nigerians are built to be tough and unrelenting, they stuck their necks in this made-to-crash-from-the-start Ponzi scheme knowing full well what was to come and look where we are now.

The Nigerian Deposit Insurance Corporation (NDIC) has said about three million Nigerians lost N18 billion to MMM and we’re grateful that someone finally put a figure to the extent of damage done. Not like participants didn’t catch the news of that man who invested N750,000 in the scheme, lost it and drank insecticide to ease the pain. He died, by the way. A woman in Benue also got a N400,000 loan, invested it in the scheme and later drowned herself in a nearby river after she lost her investment.

But all this bad news is not enough to deter Nigerians, this quick money must be made at all cost. So here are four reasons we think this recent revelation by the NDIC is a waste:

Nigerians are still incredibly greedy: Because we are never quite content with the available, the scheme froze accounts of participants in December and promised a January return. This move contained all the signs that were needed to withdraw their cash upon its return and flee. But no! Participants still believed, continued to preach the gospel and even threw welcome parties when it eventually came back. Old users put in more money, the scheme gained new users too. Only last week, MMM announced yet another freeze and no, you people still haven’t learned because ojukokoro.

Nigeria is still in a recession: Well, this is a valid reason to latch on to every available money-doubling, money-tripling scheme that rears its head. We understand. We have our leaders to blame for this situation so as long as the economic situation remains unbearable, our country people will continue to “get help”.

There’s a Loopers Club somewhere: Ponzi scheme managers must now see Nigeria as a fertile ground for their business. After MMM disappointed millions of Nigerians, the ones who could not bear the pain decided to quit; but not totally. They migrated in their numbers to a new scheme, Loopers Club. This one claims to provide humanitarian and financial empowerment services…awww, how thoughtful! Here’s the simplest way of understanding Loopers, you make 100% of your investment, so basically, you put in N500,000 and gain N1million in a matter of days. Although, it has crashed a number of times, it’s still very much around and Nigerians are still cashing out.

We’ll finish the matter in church: God is our ever-present help in time of trouble and faith is the rock on which Nigeria is built, or is that not so? We can gamble and play around all we want, we know there’s a church in the corner of our street waiting to receive the lost sheep. Shey we’ve paid our big tithe there when the money was flowing so when trouble arises (and trust that it will soon with this Ponzi craze), we’ll seek solace in that pastor’s bosom.

All of you can continue!