The problem is that the company is:
- Not registered with the Nigerian SEC,
- Operated anonymously,
- And without any shred of proof about backend revenue streams.
It is the usual passive income gig, where members earn higher than they invest. Actually, you don’t invest a kobo here. It only takes clicking on provided links daily to earn up to N250000 per month.
Gainvest does not say it is a crowdsourcing pro. However, outsourcing daily tasks for the reward of ROIs is much like it. Participants do not have to join the referral pool, in this case, although they’ll need a subscription to start.
First, why is a Nigerian SEC license even necessary?
The reason is that some entity is accepting deposits for an investment cycle, which remits profits to the depositor. So, it’s not a gift card rally going on here. Why doesn’t it have any SEC license, then? People will recall that Racksterli did the same thing last year, with its owner, Chidiebere Oti, making away with the investors’ money.
Regardless of who is promoting it, Ponzi always rips off in the end. Triangle scheme PRs have been known to buy ad space on Burj Khalifa in Dubai. Racksterli had Nigerian artists promoting it on Instagram. None of these stunts makes a Ponzi any less harmful.
Not that the quoted figure is not attainable, but that these schemes have precedents bilking funds from people. Is Gainvest legit or not? See the answer in this review.
Gainvest: What Is It about, Anyway?
Here is a clip from the About Us page on the official website.
The short description is signed off with a CAC registration, and a link to the T&C webpage.
So, an e-platform, an advert pro, provides only the Nigerian CAC as a legal prop for running ads, requesting users’ IP addresses and email addresses, and offering profit avenues arbitrarily.
Common sense suggests that whoever has the business is selling it freely. If crowdsourcing were the goal, Amazon also provides daily tasks subscription-free. Why is a referral-weighted profit model the PR strategy of Gainvest?
That is the landmark difference between a legit option and a triangle scheme. One provides tasks commensurate with attached profits, the other does a no-brainer vid and ads promo and calls it an e-platform advertiser.
Who are behind the company?
No one knows. Some of the PRs and WhatsApp influencer circles have Nigerian names. For example, you can see names like Ifeoma (phone number is 08148553358) and Olakunle (07051932898). All Nigerian SIMs
The most interesting part of this is that no one seems curious about what goes on at the backend. Money doesn’t come out of thin air, does it?
So, we looked at the T&C for good measure since the company already mentioned it. See what we found in the following section.
Give Up IP Address, other Crucial Personal Info
Profits are tied to membership deposits and returns on concluded tasks. But you will have to agree to a series of T&C requirements before starting any of these.
Now, here is what you will have to tick a YES to and qualify for a Gainvest affiliate.
Gainvest.ng reserves the right to track Member’s activity by both IP Address as well as individual browser activity. Also to monitor users’ activities including multiple account registration which is not allowed and also reserve the right to retain membership subscription on auto-renew including making necessary changes to the operation plans as the case may be for the sustainability and continuity of the project.
We underlined some of the texts to highlight the issues with this compliancy.
If you accept the T&C in this clip, you have given up crucial rights to data privacy usage and unwittingly payrolled an anonymous company. Gainvest is at liberty to hike the subscription and leisurely withdraw the amount from your bank account.
Also, your email address is prone to 24/hr spamming from undisclosed sources, along with a panoramic cam recording your locations and tracking your internet activities.
Data miners can turn stolen/hacked details into thousands of dollars if they pitched to the right audience/buyer. The Gainvest T&C will ultimately access your social media history, including links to offline activities.
Moreover, publicly available emails are prone to spam and third-party ads-splurge. The worst-case scenario is stolen digital ID.
You stand to lose a lot _ more than the N250000 ROI you hope to gain on Gainvest.
Conclusion: Is the Company Legit?
A CAC (Cooperate Affairs Commission) registration number does not suffice for security regulation.
Now, here is the question:
Is the company Legit? No, it is no
You can check the CAC Search. Copy and paste the provided CAC Rc on Gainvest into the box. Then, click on SEARCH. Here is what you will see.
So, a different e-platform brand, GEMVEST Platform, apparently has the same registration number as Gainvest. Also, check the company name, Gainvest. A Gainvest LTD shows up, with a different CAC Rc number and registered with an email address. Piecing the scrambled address turns up Peter Ayodeji as the email owner.
But nothing connects the Google Result Peter Aydejis to the owner of Gainvest.
Someone is conveniently avoiding the SEC Ng using a fake CAC.
Just like all Ponzi, Gainvest will scam people in the long run and disappear from the passive income WhatsApp group. It is how they work.