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Catchword for “wonder bank”
Catchword: wonder bank
Gloss: an organization in Nigeria that falsely promises high returns on low investments, a trick similar to a pyramid scheme.
Filed Under: , ,
Part of Speech: n.
Quotation: While not saying the wonder banks were out to dupe the people, the banker said what they promised was just too outrageous and a right-thinking person would not fall for that. “If it was possible for an organisation to return N100,000 on a N27,000 investment after four weeks, then why would people need to work?,” the banker asked.
Article or Document Title:
“Tears, regrets as ‘wonder banks’ suspend operations” (URL)
Author:
Adewale Oshodi
Article, Document, Publication, Web Site:
Nigerian Tribune
Publishing Location:
Ibadan, Nigeria
Date of Publication:
Oct. 3, 2007
This catchword has yet to be researched.
Posted 4 Oct 07 | Permalink | Tell a Friend

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