This year 2016 has proven to be unarguably saturated with so many forms of online and offline communities of people helping people, multi-level marketing and Ponzi schemes viz; MMM, Icharity, Helping Hands International, ZarFund, Ultimate Cycler, Bits 2 Biz, Greenworld, GNLD, Fast Track and a host of others. Some of these platforms have been in existence for quite a long time now but happen to have gotten more publicity this year. Why so?
This is the part where so many of
us will not like to hear of which I’ll just have to say nonetheless; it’s
corruption.
All these schemes of course are
legitimate sources of income, all you have to do to benefit from them is take a
little risk, do some little work and afterwards smile a big smile, but I
mention corruption because corruption has turned most Nigerians to becoming
greedy.
Recall that before 2016, cash
flowed generously in the country and so many persons literally had to do
nothing to make cool bucks but right now, it’s no longer status quo. The
standard of living of these persons have grown quite high and they need to keep
up appearances, hence their current disposition to maximizing whatever
opportunity that comes their way, which these schemes offer.
I’m in no way insinuating that all
participants of these schemes are greedy. There are some who play by the rules
and are moderate in their dealings which are absolutely commendable, but there
are many much more that are ‘smart’ enough to play by their own rules, whose
dealings threaten the sustainability of these schemes.
For example, why would the
treasurer/executives of a cooperative union invest the entire cooperative funds
in their possession? Why would a participant in MMM have up to twenty seven
(27) accounts? Why would an individual invest his/her entire salary in
any of these schemes? Why would parents invest their children’s school fees,
shopkeepers their rents, students their fees? The list goes on and I’ll tell
you why they do this. It’s greed.
A platform like MMM made it clear
that one should invest only spare cash i.e. money not having any use for the
time being which could be translated thus; whether or not you get your money
back, it does not in any way affect your standard of living. If you invested
any money that makes you feel uncomfortable, you’re definitely not doing it
right.
More importantly though is the
effect that these schemes are having in our lives as individuals and as a
nation. Some are positive, others are negative. Let’s take a look at some of
the positive benefits in summary:
1 Increase in
standard of living.
Of course, that’s what more money in your pocket does.
2. Increase in
minimum wage/workers welfare
When people are faced with plenty of alternatives to make
easy, cool and legit money, very few would be willing to scrub floors or take
orders from anyone.
3. Pursuit of
true passion
Lack of money and jobs have forced many to do things they
ordinarily wouldn’t have signed up for —especially our secondary school teachers
—. If there’s a way they can make more in investments than their monthly take
home, they’ll most likely quit.
4. Improvement
of banking policies
Since many people will no longer be willing to stash their
money in the banks, bankers will be forced to think outside the box in other to
ensure their survival.
5. Reduction
in unemployment
With so many people quitting their jobs and opening their
businesses, there will be enough jobs to go round.
6. Reduction
in violence/crisis
With so much money in my pocket, I’ll be very quick to
forgive any rough driver who dents my bumper. I’m always happy and hardly
notice increment in the prices of goods and services.
Enough of the potential bright sides; how about checking out some
negative impacts of these schemes:
1. Increment
of government taxes
The profits from these schemes are not taxable, and with many
people quitting their jobs and making this money, existing tax revenues will
drop and non-participants of the schemes may be required to bridge that gap.
2. Inflation
Since so much money will be going round, prices of goods and
services will definitely soar, thereby stabbing our already dying currency.
3. Loss in
national GDP
Many government and private workers already buried in the
scheme focus more on multiplying their earnings rather than their job roles
thus slowing down our growth as a nation.
4 Reduction
in the nation’s workforce
Very few people will be willing to work.
5 A lazy
people
There would be a colossal loss in productivity. Students will
no longer see the need to study, workers may lose their drive etc. This is true
though for those who define money as the ultimate.
6. Unpatriotic
Citizens
Many will tend to live carefree lives and may not be
passionate enough to struggle in smoothening the nation’s rough plains.
And so much more…
I myself have been greedy and have my greedy tendencies too,
but I will like to say this to all networking participants;
Never make the acquisition of money your drive in life. Money
will definitely make you happy, but it gives no joy or fulfilment. You were
created for a purpose, discover that, live it out passionately and you’ll find
yourself on the pathway to greatness.
God Bless Nigeria.
God Bless Nigeria.
