Nigeria: No, 'Trust Gain Program Platform' Won't Double Your Money in an Hour. Nigerians, Beware of Scam On Facebook

22 August 2023
Africa Check (Johannesburg)
By Muktar Balogun

IN SHORT: The so-called Trust Gain Program Platform is another investment scam discovered by Africa Check on Facebook. Several posts claim the platform is registered with the Nigerian government and will double users' money in an hour. But this is not true.

A Facebook user claims that a newly launched platform is offering investment opportunities to Nigerians where their money will be doubled in an hour.

"WELCOME TO TRUST GAIN PROGRAM PLATFORM YOU CAN CALL THE PLATFORM ADMIN FOR MORE INFORMATION OR WHATSAPP (08138485224)**Is a newly lunch platform where you invest a certain amount of money and get it back in double in the next 1hour and it has been approved by the Federal government under the ministry of industry trade and investment," reads the post, in part.

It includes a screenshot of a supposed proof of payment from the investment platform.

The user encourages others to reach out via the WhatsApp link attached, saying "life itself is a risk".

There are over 30 comments from users looking to join and those who claim to have received their payments from Trust Gain Program investment platform.

We found similar posts here, here, here, here and here.

But is the investment platform legit? We checked.

Signs of a scam

There are many ways to spot an investment scam on Facebook and one of them is the promise of quick returns on your investment. According to the post, the platform can double users' money within an hour.

However, businesses that offer such unrealistic returns in a short period of time are usually not sustainable or legitimate. As a result, Nigeria's financial crime commission warned the public to exercise caution and not fall for money doubling schemes.

Another clue that the platform might be a scam is that users are directed to register via WhatsApp. A reputable company would be expected to professionally engage with its customers through a website or even a mobile app. Registering via WhatsApp may lead to users disclosing their personal or banking details. This information may be used to commit fraud.

The Facebook post also claims that the Trust Gain Program Platform is registered with the Nigerian government. Africa Check searched for "Trust Gain Program Platform" on the country's business register and found no business by that name.

Africa Check has previously investigated similar false investment schemes here, here, here, here, here and here.

To help protect yourself against online scams, read our guide to Facebook scams and how to spot them.

Read the original story, with links and other resources.
Africa Check is a non-partisan organisation which promotes accuracy in public debate and in the media. Twitter @AfricaCheck and www.africacheck.org

Tagged:
Copyright © 2023 Africa Check. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 500 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.