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Loom Money Nigeria – Join and Register for Loom Circle on whatsapp

Loom Money Nigeria – See how to Join and Register for Loom Circle on whatsapp: Have you heard about Loom Money Nigeria? its the latest trending baby in town here in Nigeria. How does Loom Money Nigeria work? What is the official Loom Money website? Here is everything you need to know. Find out how to join below.

Loom Money

The ‘Loom’ sits in a circle and every time a new person is recruited, others are pushed closer to the centre 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) A screenshot of Whatsapp page for Loom Money Nigeria 

The pyramid structure outside Nigeria (medium - delphinedelchambre)

medium – delphinedelchambre

The pyramid structure outside Nigeria (medium – delphinedelchambre)

According to one of the WhatsApp groups, the Loom scheme pyramid level is in four places and represented by colours – Purple, Blue, Orange and Red.

Each time 8 people join the group, the person in the centre (usually on the red spot) gets the target amount which is N16,000 and after investing N2,000 leaves the spot for the next person.

“The Loom would then be split into 2 groups, the top half and the bottom half each becomes new groups and everyone moves into the next level.

A typical pyramid structure of Loom Money Nigeria (Pulse)

A typical pyramid structure of Loom Money Nigeria 

Which means those people that were in purple move to blue, those in the blue move to orange, and those in the orange move to red (the final stage and the cashing out stage).

In a Facebook post seen by Business Insider SSA by Pulse, the promoter explained that “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 money.”

Loom Money Nigeria promises a staggering easy cash reward of N104,000 for paying N13,000 or N2,000 for N16,000,” the Facebook post reads with a link to a closed a WhatsApp group.

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 sceptical 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.”

To get started , Tap on any of the link below. Anyone you want
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.

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

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