Factors Influencing Ponzi Scheme Participation In Nigeria

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dc.contributor.authorAfolabi, Taofeek Sola
dc.date.accessioned2021-07-19T13:14:19Z
dc.date.available2021-07-19T13:14:19Z
dc.date.issued2018-05-25
dc.description.abstractThis study examined the factors influencing Ponzi scheme participation in Nigeria. A multi-stage sampling procedure was used to select 384 participants for the study. Descriptive statistic and One-Way ANOVA was employed to analyze the data. The result of the analysis revealed that friends’ recommendation, expected benefits, current economic situations, ease of obtaining funds and the get rich quick syndrome were the most influencing factors on Ponzi scheme participation and these factors were significant with the gender, age, marital status, employment status and educational level at 5% level of significance. The study concluded that ponzi scheme participation was mostly influenced by friend’s recommendation, expected benefit, current economic situations, ease of obtaining funds and the Get rich quick syndrome. Therefore, the study recommended that the Nigerian government should integrate Ponzi schemes into the Nigerian financial system and subject them to the country’s regulatory environment to minimize the consequences of future failure of the schemes.en_US
dc.identifier.citationObamuyi, T. M., Iriobe, G. O., Afolabi, T. S., Akinbobola, A. D., Elumaro, A. J., Faloye, B. A., Adeyefa, A. F., Adepoju, T. F., & Oni, A. O. (2018). Factors Influencing Ponzi Scheme Participation In Nigeria. Advances in Social Sciences Research Journal, 5(5) 429-444.en_US
dc.identifier.otherDoI:10.14738/assrj.55.4547.
dc.identifier.urihttp://dspace.run.edu.ng:8080/jspui/handle/123456789/233
dc.language.isoenen_US
dc.publisherSociety for Science and Educationen_US
dc.subjectPonzi Scheme Participationen_US
dc.subjectFriends’ Recommendationen_US
dc.subjectExpected Benefitsen_US
dc.subjectEconomic Situationsen_US
dc.subjectGet Rich Quick Syndromeen_US
dc.titleFactors Influencing Ponzi Scheme Participation In Nigeriaen_US
dc.typeArticleen_US
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