The Dangote Group has raised alarm over a Ponzi scheme in circulation alleging partnership between the “Dangote brand, Nestle, PZ Cussons and other reputable food processing companies” in launching a multi-level marketing initiative that intends to “fight hunger, poverty and stop recession” by paying participants in food.

The group in a release said: “Contrary to the publication widely circulated on social media and mobile instant messaging application, the Dangote brand is neither the initiator nor a partner to the “Happy World Meal Gate” Ponzi scheme and strongly warns the public against participating in such malicious schemes aimed at defrauding un-suspecting participants of their hard earned money.”

Chief Corporate Communications Officer at Dangote Group, Mr Anthony Chiejina noted that: “The faceless entities behind the scheme have sought to achieve cheap legitimacy by associating themselves with the Dangote brand and other reputable multinationals and efforts are on-going to track and prosecute these for unlawful use of our brand name.”

“As it is with other Ponzi schemes, any pyramid recruitment scheme with all mathematical permutations always leads to a dire end for participants who end up losing money. He therefore advised the public to verify any information about the brand on its official website www.dangote.com.”