In recent months, a platform called Palmpay Global Investment has been making the rounds on social media, promising users huge returns on small investments.
The offers sound tempting but when it comes to online money-making platforms, such promises should raise serious red flags.
Before you consider putting your money into Palmpay Global Investment, here’s what you need to know.
1. It’s NOT the Same as the Real Palmpay App
Many people already know Palmpay as a legitimate Nigerian fintech app for payments, airtime, and transfers. However, some do not know that Palmpay Global Investment is not the same company.
Fraudsters are using the trusted Palmpay brand name to make their scheme look credible and the official Palmpay app has even issued warnings that they have no connection to this “investment” platform.
2. The Unrealistic Promises
Any platform offering 30%–50% returns in a matter of days should immediately make you suspicious because real investments take time to grow and high returns usually mean high risk or outright fraud.
Scammers often use “quick profits” to lure in victims before disappearing.
3. Reports from Users
On Facebook, Twitter, and Nairaland, dozens of users have complained that after depositing money, they were unable to withdraw their “profits.” Some say their accounts were blocked right after requesting a withdrawal and others report that the website or app disappeared completely within weeks.
4. Common Scam Tactics They Use
~ Using WhatsApp or Telegram groups to recruit more members.
~ Telling users to “re-invest” profits instead of withdrawing.
~ Claiming withdrawals are “under review” for days or weeks.
~ Suddenly shutting down all communication channels.
5. How to Protect Yourself
Always verify the company’s registration and licenses then make sure you only use official channels of known brands (download Palmpay from Google Play or Apple App Store). Avoid sending money to individuals claiming to represent a big company without proof.
Remember: If it sounds too good to be true, it probably is.
Bottom Line:
Palmpay Global Investment shows all the signs of a Ponzi-style scam. Don’t confuse it with the real Palmpay payment app. If you want to invest, use regulated platforms, and never put in money you can’t afford to lose.
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