Synopsis of Nigerian Economy and the Growth of Ponzi Schemes

Abstract

This study was conducted to examine the effect of Ponzi scheme on Nigerian Economy Available researches explored Nigerian economy in terms of its history structure and growth with no literature on the economy and the growth of Ponzi in the face of the present recession Nigerian economy is beset with myriads of economic problems ranging from unemployment to bad leadership and structure of governance that has climaxed into economic recession Ponzi schemes became an alternative to the harsh economic realities in the country and this research investigated the effect of this in the economy The result shows that there is a strong negative relationship between Nigerian economy and the growth of Ponzi It created illusive picture of the economy in terms of peoples living standard and income levels