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CyberSafe Foundation’s NoGoFallMaga Community Releases Investment Scam Handbook
NoGoFallMaga (NGFM), a campaign instituted by the CyberSafe Foundation has released its first Investment Scam handbook through its Community platform.
Released on August 12 to align with this year’s World Youth Day, the Investment scam Handbook is an essential tool that would protect individuals and businesses from investment scams.
It provides an in-depth look at the warning signs of Ponzi scams and offers tips on how to stay safe. The objective is for the handbook to continuously educate people on these cyber crime tactics.
The timely release of the Handbook is to align with the theme for this year’s World Youth Day, which is ‘Intergenerational Solidarity’; and the NGFM community wants to encourage people, especially the youth to show solidarity with other generations by educating them about the danger of investment scams.
Since youths are the most active online, more conversant with emerging technologies and energetic, the onus is on them to act as a sort of intergenerational stop gap, protecting other generations from the nefarious activities of fraudsters.
The CyberSafe Foundation’s NoGoFallMaga (NGFM) Community is a group of online security experts who are set to help people protect their money, assets, and identities online. The cybersecurity community is an initiative of CyberSafe Foundation, an NGO strategically positioned and, on a mission, to ensure inclusive and safe digital access in Africa.
NGFM has 142 active Volunteers and has uncovered and exposed over 20 Ponzi Schemes in Nigeria alone. Also they’ve helped SMEs, the aged and people at large by bringing awareness about these schemes.
The Security and Exchange Commission (SEC) in a recent statement had stated that “Ponzi schemes have undermined the reputation of the capital market and dampened investors’ confidence”, a major issue which is affecting the country’s capital market. According to a study by Norrenberger Financial Investments Scheme, Nigeria has lost more than N300 billion to pyramid schemes over five years.
It is interesting to know that the first Ponzi scheme was created by Charles Ponzi in 1920. He promised investors a 50% return on their investment in just 45 days. And it worked for a while. But eventually, the scheme collapsed, leaving investors with nothing. And history has repeated itself over and over again since then.
The NogoFallMaga community, whose primary focus is on digital fraud, has intervened in several cybersecurity cases across the country and had in the past exposed a fake Job Syndicate impersonating the United Nations online.
NoGoFallMaga Community Manager, Enyinna Abazie revealed what the Community has achieved over the years, which includes the release of “The Phishing Handbook” and “The book of scams” to tackle various segments of scams in the country.
According to him: “Our biggest Ponzi burst so far was getting involved with the “Intelligence Prime Capital Scam.” The said organization claimed to have a trading bot which used Artificial Intelligence to make a steady stream of profit. Investor-victims were also asked to recruit others into the scheme to earn more.
He further said, “a few months after our investigation, and saving countless numbers from joining the scheme, the perpetrators performed an exit scam and disappeared with the funds of investors. Ponzi schemes tend to go undetected for years, and by the time they’re exposed, it’s often too late”.
CyberSafe Foundation, the parent organisation for the NoGoFallMaga Community, has several other initiatives which include the ‘ShineYourEye Cybersecurity Community’ for the elderly, ‘CyberGirls Fellowship’, and the ‘DigiGirls Fellowship’. The organisation has also helped SMEs with the Cybersecurity SME toolkit launch this year.
Atte Ayodeji, a Nigerian computer scientist,has developed an artificial intelligence algorithm capable of detecting, counting, grouping and generating healthy hair follicles during hair transplant procedures, an innovation that earned him the Best Innovative Technology award.
Atte Ayodeji
Ayodeji also graduated with a Distinction in his Master of Science (MSc) in Computer Science from Birmingham City University on Friday, adding another milestone to an impressive academic year.
Beyond his award-winning hair transplant innovation, the Nigerian researcher developed a system and framework on Explainable Artificial Intelligence (XAI) as a professional responsibility in the diagnosis of lung cancer.
His dissertation received a silver award at the PGXPO2026 Winter, further highlighting the impact of his research in applying artificial intelligence to healthcare.
Sunday Dare, special adviser on Media and Public Communication to President Tinubu, celebrated Ayodeji’s achievements in a post on X, recalling how he first met him in 2019 during his National Youth Service.
“In 2019 when I became a Minister of the Republic, I met a young man of medium height, genteel with penetrating eyes: Atte Ayodeji. His words rarely come out and he could easily be passed by unnoticed. But I noticed him especially when my SA Kemi Areola brought him to me asking my approval for him to do his Youth Service in my office. I approved. From then on he was unstoppable. His brilliance shown and he developed skills beyond his frame.”
Highlighting Ayodeji’s recent accomplishments, Dare congratulated him saying, “Congratulations Atte. I am proud of you!”
Mr. Joseph Tegbe, minister of Power, has said that the federal government plans to end power sector subsidies from 2027 and that there are no immediate plans for tariff increases.
Mr. Joseph Tegbe, minister of Power
The minister told journalists during the media interactive session at the weekend that the government has announced plans to phase out electricity subsidy payments from 2027 as part of efforts to address mounting liabilities in the power sector.
He explained that the planned removal forms part of the broader reforms aimed at ensuring the long-term sustainability of the electricity sector, while tackling the financial challenges confronting the industry.
According to the minister, despite the planned subsidy withdrawal, there are no immediate plans to increase electricity tariffs, reassuring consumers that the government is not considering a tariff hike in the short term.
Patience Okala, the National Coordinator and Chief Executive Officer of the Nigeria AfCFTA Coordination Office has urged African countries to stop exporting raw materials and instead focus on adding value to its natural resources if it is to fully harness the opportunities offered by the African Continental Free Trade Area.
She stated this on Thursday at the Streamsowers & Köhn 20th Anniversary Business Forum, where she stressed that value addition and beneficiation are essential to Africa’s industrialisation and long-term economic growth.
According to a statement issued on Friday by the Nigeria AfCFTA Coordination Office, she said the AfCFTA goes beyond the elimination of tariffs, serving as a framework for industrialisation, value addition, and job creation across the continent.
“AfCFTA is not only about tariffs; it is also about value addition. Africa has to stop exporting raw materials. We need to add value and ensure that beneficiation is done on the continent,” she said.
Okala also said Africa’s economic transformation would depend on the effective implementation of the AfCFTA rather than on the signing of trade agreements alone.
“We have moved beyond negotiations. The success of AfCFTA will be measured by the extent to which businesses can access new markets, trade seamlessly across borders, and benefit from the opportunities created by the agreement,” she said.
She noted that Nigeria had intensified efforts to implement the agreement under the leadership of the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, including the development of simplified AfCFTA guides in six languages to help businesses understand and take advantage of opportunities under the trade pact.
Okala called for stronger collaboration among governments, regulators, and the private sector to eliminate barriers to trade and investment and build a truly integrated African market.
“As we move from policy to implementation, our collective responsibility is to ensure that the opportunities created by AfCFTA become practical realities for businesses, particularly MSMEs, women-owned enterprises, and young entrepreneurs across the continent,” she said.
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