Vibes and Fugazi

Can your money really work for you?

Ajibola has been working overtime to explain to investors via social media (image generated using ChatGPT). N.B. fictional image; similarity to a real-life individual is coincidental.

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Recently, a social media influencer, tech or phone gadget review, and pig farming content creator was called out for scamming people of “investment” funds into his agriculture business.

Apparently, the Fugazi scheme was a 5% monthly interest payment on the amount invested for a tenor and full capital reimbursement upon expiry of the contract. He sold a mega-million-naira business that churns out sales every month. Your investment is working capital while your returns are the profit from sales of produce. Hogwash!

I worked in loan monitoring, called Risk and Governance, in the commercial banking department of the Pan Africa Bank. I can tell you for free Agric business is not predictable. As long as there is seed time and harvest time, the returns are not set in stone. Sometimes you reap a lot, sometimes is little, and worst off, you might reap nothing!

The good thing is that Ajibola is being accountable to his investor. I really hope everything is sorted out amicably (image generated using Copilot). N.B. fictional image; similarity to a real-life individual is coincidental.

So for Ajibola to come out and say he will consistently give 5% interest payment on investment, that right there is the ultimate Fugazi.

Now, let’s shift the mic to the investors. Come, do you guys (and even some ladies) think your money can 100% work for you while you go to sleep? Like you’ll just be getting interest paid into your account, and you don’t lift a finger. No way, Jose!

I know you can invest in stocks, bonds, and other securities, but the real profit is when you trade with them.

When something is too good to be true, it probably isn’t true.

In fairness, and playing devil’s advocate for Ajibola, at least he had a business to back his super investment, but the financial structure was not solid. In fact, I suspect, allegedly, Ajibola must have crowd-funded funds to run his business. Two, He must have diverted some money into other businesses, such as crypto and the bad one, sports betting! Allegedly. So far, he has not been petitioned, and a formal case has not been filed against him. I’m sure you’re wondering why?

Well, it looks like those who have invested this money didn’t collect a receipt for the payment. However, Ajibola recorded a video confirmation to the investors telling them he received their money. A video recording, I believe this can be used as a case.

I feel this matter will be settled out of court.

So can your money really work for you while you sleep?

Share businesses that can just collect your investment or funds and keep paying your dividend without doing anything. Please also let us know how long these businesses have been running. No Ponzi scheme should be included; legit business only.

At the end of the day, these investors just fell for Vibes and Fugazi that Ajibola sold to them.

Definitions

Fugazi (pronounced foo-GAH-zee) is a slang term that means fake, inauthentic, or counterfeit. It can refer to a phony object, an imposter, or a situation that has gone completely wrong.

Vibes in this context is a slang used in everyday conversation; "vibes" refers to the emotional atmosphere, feeling, or energy a person, place, or situation gives off. It is short for "vibrations" and represents an unspoken, intuitive sense of character or mood.