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Loom Money Nigeria – Join And Register For Loom On WhatsApp

How to Join and Register for Loom Money Nigeria – Loom Circle on WhatsApp: How does Loom Money Nigeria work? What is the official Loom Money website? Here is everything you need to know. Loom Money Nigeria is a peer to peer, pyramid scheme program that follows the traditional MMM pyramid system. so read below and find out how to join.

 

Before you read on, please take note that Loom Money is a Ponzi scheme, a pyramid scheme. It is an old-fashioned scam that has been re-packaged for a new generation. The ‘Loom’ sits in a circle and every time a new person is recruited, others are pushed closer to the center of the circle where they’re promised a payout.

How It Works

The scheme which was first reported in the UK, then by an Australian media, ABC News (Australian Broadcasting Corporation) as a scam after it had gone viral in Australia, commenced in Nigeria recently.

The first step of the process is being invited to join a WhatsApp group chat, usually by a friend or relative. Then you are asked to ‘invest’ N1,000, N2,000 or N13,000 with a promise that you will make eight times the amount back once you recruit new entrants.

After you have paid in the money, you are asked to invite at least one person to join the system.

There are four levels in Loom Nigeria – Purple, Blue, Orange, and Red.

Each time eight people join the loom, the person in the centre (Red) will get the target amount and leave the group.

The loom will then split into two groups. The top half and the bottom half become the new looms and everyone moves into the next level (Purple Level – into Blue Level – Into Orange Level) and the cycle begins again.

The more people you manage to add to the circle, the quicker the movement of it, and thus, the easier it will be for you to make your chunk of ‘easy money’.

The basics are that you get eight times the amount you “invest.” If you invest N1,000, you get N8,000; if you invest N2,000, you get N16,000; and if you invest N13,000 you will get N104,000

The Loom Pyramid Scheme is not new to the world. Last month, Daily Mail UK reported that the scheme has resurfaced online all over the world, with different names such as ‘loom circle’, ‘fractal mandala’ and ‘blessing loom’. In Nigeria, its central name is Loom Money Nigeria with individuals creating their own WhatsApp groups such as Preye Loom, Catherine Loom among others.

A screenshot of Whatsapp page for Loom Money Nigeria (Pulse)

How it works in simple terms:

  1. First step: You are invited, usually by a friend or relative, to join a Whatsapp group chat
  2. Then you are asked to ‘invest’ N1,000 or N13,000 with a promise that you will make eight times the amount back once you recruit
  3. After you have paid your money, you are asked to invite your own family and friends to join the system.
  4. There are four levels in Loom Nigeria – Purple, Blue, Orange, and Red
  5. Each time 8 people join the loom, the person in the center (Red) will get the target amount and leave.
  6. The loom will then split into two groups. The top half and the bottom half become the new looms and everyone moves into the next level (Purple Level – into Blue Level – Into Orange Level) and the cycle begins again.
  7. The more people you manage to add to the circle, the quicker the movement of it, and thus, the easier it will be for you to make your chunk of ‘easy money’.
  8. Loom Money Nigeria promises a staggering easy cash reward of N8,000 for paying N1,000; N104,000 if you pay N13,000
To get started, Tap on any of the links below. Anyone you want
1. Pay N500 Get N4000

2. Pay N1000 Get N8000

3. Pay N2000 Get N16,000

Indicate the one you want to register for. After clicking the link, it will direct you to our WhatsApp page. Indicate the amount you want to register for and an account number will be sent to you immediately. Pay to the account and you will be added to the group after your payment has been verified.

Mixed Reactions

“I joined the group on Saturday and I cashed out N16,000 on Sunday, Loom is real,” said Rose, a phone outlet attendant.

She said she is presently investing for a friend of hers. Once she cashes that out, she will do another round for herself again.

Another benefactor, Gbenga Ojo, said he joined the group on Saturday with N1000 and cashed N8000 out that same Saturday.

“I have presently invested N2000 in three different groups hoping to cash out soon,

“Even if it crashes like MMM, I know I did not lose anything, “he said.

While some Nigerians are being skeptical of joining the money doubling train, some are sure they will not because of their past experience with various Ponzi like MMM, Twinkas, Charity, Zar Fund, Ultimate Cycler, Get Help Fund amongst others.

Mrs. Odunayo, a government school teacher, said: “even though I didn’t lose more than one thousand in MMM, I don’t think I can do any other Ponzi.”

 

 

She said even if she would do, she would not invest more than a thousand Naira

Meanwhile, Felicia Happy, a police officer, said she can never invest her hard earned money in any Ponzi scheme.

“ I cannot invest in any of these Ponzi. Even when MMM was thriving, I did not think it twice, because I believe the day I put my money that is the day it will crash.”

How to Join and Register for Loom Money Nigeria – Loom Circle on WhatsApp

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