(Not) ALL NIGERIANS ARE SCAMMERS

One of the best places to find free entertainment is in the comments section of social media posts. The diversity of perspectives can take you from hysterical laughter to outright shock and disbelief.

Yesterday, a popular social media influencer was arrested for fraud, and the news was posted on a major gossip blog. In the comments section, someone wrote, "I always knew he was a thief. See his big eyes — like Barawo." (means thief in Huasa) Then another user responded, "Is it my pastor you are calling Barawo? Touch not God’s anointed, or else thunder will fire you!"

Comment 3: "If this is your pastor, then you are also a thief."

Comment 4: "This is how all these Nigerian pastors behave. They are either Yoruba demons or 419 Igbo businessmen."

And so it went on and on until Comment 38: "For your rats, cockroaches, and all kinds of rodents, buy RAT BOMBER. Please DM for more details."

At this point, I could hear all the readers hiss simultaneously and move on to other things.

This episode left me pondering how so many people fail to see through the lavish lifestyles and bogus business models of some famous society bigwigs.

From my experience as a financial services professional, I know it's possible to spot these scammers from miles away, and the signs are not necessarily in their religion, tribe, or appearance. Here are ten red flags that can help you identify scammers when selecting a business or investment partner, or even just for the purpose of gossip in the comment section.

1. What Do They Do? – Lack of a Clear Business Model

Have you ever asked someone what they do for a living, only to receive a response so vague that it leaves you even more confused? If a business can’t explain, in simple terms, how they make money, there’s probably something fishy going on. Real businesses don’t thrive on mystery; they operate on transparency.

For example, the richest man in Nigeria sells cement, pasta, sugar, and petrol - it’s as simple as that. I once heard someone, when asked to explain how he makes money, say: "We raise leaders and keep little children away from gangs." Please, how does this translate to revenue?

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2. Who Do They Do It With? – Suspicious Partnerships or Affiliations

Scammers love to name-drop. They’ll tell you they’re “affiliated” with big companies, celebrities, or international organizations. But taking pictures together is not the same as doing business together.

Ask them about their vendors and customers. Reputable businesses take time to vet their partners, and this could be an indication of credibility. Before you believe the hype, check if these partnerships actually exist. Google is your friend.

3. Check Product Reviews and Feedback – “Don’t mind my enemies”

When a business has too many "Don’t mind them" responses, it’s a major red flag. Legitimate businesses guard their reputations at all costs and leave no loose ends.

If a business has no positive customer reviews or, worse, tons of negative reviews from so-called "enemies," please run. Look out for detailed, balanced reviews from real customers before making any commitments.

4. What Do Regulators Say About Them?

Before parting with your money, check if the company is properly registered with relevant bodies like the Corporate Affairs Commission (CAC), Securities and Exchange Commission (SEC), or Central Bank of Nigeria (CBN). If they’re blacklisted or under investigation, that’s all the warning you need.

5. Avoid Pastors, Politicians, and Family in Business Deals

This one might sting but hear me out. Just because someone is a respected pastor, imam, politician, or even a trusted family member doesn’t mean they aren’t promoting a scam.

Many fraudsters hide behind God and familiar faces to gain trust. Always do your independent research. God does not sell land or any form of merchandise, so why is your religious leader selling things?

You should invest your votes in politicians, not your hard-earned money.

6. Follow Your Instincts

If it feels off, it probably is. You'd be surprised to know that bankers are trained to consider their gut feelings as a major factor in credit appraisal.

If it looks like a rat, moves like a rat, and sounds like a rat - it’s a RAT!

7. Too Good to Be True Offers

If someone promises you sky-high returns with little to no risk, they’re lying. Period. Every legitimate business or investment carries some risk.

Another red flag is someone who promises to introduce you to a “very lucrative business” for a fee. The natural human instinct, when someone discovers a pot of gold, is to keep it secret, not to show everyone where it is. If it sounds too good to be true, trust me, it is.

8. What Bank Do They Use?

Legitimate businesses use reputable banks. If someone insists on using obscure banks, personal accounts, or cryptocurrency wallets for transactions, that’s a red flag.

The larger and more reputable the bank, the stricter the Know Your Customer (KYC) process they would have been subjected to. Use this as a precautionary measure.

9. Unsolicited Messages and High-Pressure Sales Tactics

If you get an unexpected message telling you that you’ve won a lottery you never entered or qualify for an investment you never applied for, ignore it.

Scammers rely on panic and urgency to make you act without thinking. Don’t fall for it.

10. Requests for Upfront Payments or Sensitive Information

Legitimate businesses don’t need you to pay upfront fees before you even see a product or service.

If someone asks for “processing fees,” “registration costs,” or sensitive details like your BVN upfront, you're likely dealing with a scam.

Conclusion

A legitimate business should score at least 8 out of 10 when tested against these parameters. These red flags aren’t just applicable to Nigeria; they can help you spot scams anywhere in the world.

Let me know your thoughts in the comments section—but please, no rat poison, herbal medicine, or "stories that touch."