Samuel

I’ve always been obsessed with having money since my adolescence. It often affects my mood, and trust me, you do not want to be around me when I’m broke because I’m not at my best. When I was around twenty, I had managed to stash up a decent amount in my savings for a rainy day.

I had a fixed account with FCMB, where I would deposit a certain amount every month. I had vague plans to use the money for something, though I can’t even remember what that was now. Then the wave of MMM came. At the same time, the fixed period for my account ended, meaning I could withdraw my savings.

Playing a very dangerous game, I withdrew all my savings, along with the interest, and poured it into the Ponzi scheme. To my surprise, I got my money back with the astounding interest MMM was delivering back then. At first, I was in disbelief, but I didn’t wait around for long. I quickly used the money to buy a piece of land in Ogun State.

Do you still have the land?

No, I don’t. After buying the land, MMM crashed, and I was so grateful that I had put the money to good use and wasn’t a victim of the crash. However, about two years later, I heard that MMM was back again. This time, I thought I could outsmart the system by being one of the first beneficiaries. In my desperation, I sold the land—even though it wasn’t worth the price I originally paid. My plan was simple: the interest I’d earn from MMM would enable me to buy another land, possibly in a better location, maybe even in Lagos.

So what happened after?

I wasn’t as lucky as the first time. Everything crashed, and I lost every penny. To make things worse, I had added more money from my savings to increase my stake. It was one of the most depressing moments of my life.

I had gambled away my future—my land, my savings, everything. I couldn’t eat or sleep properly for weeks. The regret was overwhelming. The worst part wasn’t even losing the money—it was the realization that I had made such a reckless decisionout of greed.

Any lessons learned?

If I’ve learned anything, it’s that there are no shortcuts to wealth. I’ve realized that financial stability comes from discipline, patience, and sound investments, not from schemes that promise the world overnight. Looking back, I wish I had been more prudent with my choices. But life is a journey, and sometimes you need to make mistakes to learn valuable lessons. Now, I’m rebuilding my finances slowly but surely. And while I may not own land anymore, I’ve learned to avoid anything that seems too good to be true—because it probably is.