Lagos, Nigeria – The Managing Director of Primero Transport Limited, Mr. Fola Tinubu, has attributed the increasing cases of financial frauds in Nigeria—particularly the recently exposed CBEX Ponzi scheme that defrauded Nigerians of over ₦1.3 trillion—to unchecked greed among citizens.
In a recent exclusive interview with INN-HOUSE, Mr Tinubu voiced his concerns over the alarming rise of get-rich-quick schemes that continue to prey on the financial desperation and insatiable desires of unsuspecting Nigerians.
According to Mr. Tinubu, the CBEX case is a glaring example of how deeply embedded greed has become in society.
“You cannot legislate against greed,” he stated pointedly. “So, the government will not be able to help someone with a greedy mindset.”
He cautioned Nigerians to be skeptical of too-good-to-be-true offers, emphasizing, “When something is too good to be true, then it’s not real. What kind of business do you know that someone can do and within a month the money doubles?”
Mr. Tinubu explained that Ponzi schemes are not new in Nigeria, and unfortunately, they are unlikely to disappear anytime soon.
“This is not the first time they’ve done Ponzi schemes in Nigeria, and it won’t be the last. Give it some years, someone else will come up with another one in this nation, and people will still fall for it—simply because of greed.”
He linked the susceptibility to Ponzi and other forms of fraudulent schemes to a general lack of financial patience and the desire to achieve overnight wealth.
“Even with all other basic forms of fraudulent acts being perpetrated today, people fall for them due to greed,” he lamented.
Mr. Tinubu concluded by advising Nigerians to be vigilant and content with their legitimate income streams.
He urged citizens to focus on long-term growth and stability rather than gambling their livelihoods on deceptive investment offers.
“Stay contented with your normal earnings in order for you to grow into prosperity in life,” he advised.
As the CBEX scandal continues to unfold and authorities investigate its perpetrators, Mr. Tinubu’s remarks serve as a strong reminder for Nigerians to embrace financial discipline and shun the dangerous lure of instant wealth.
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