The influencer and the insider: Chinmark's demise
The collapse of a much-hyped business empire offers a warning to investors everywhere.
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Show Notes
In 2020 the Chinmark Group appeared to be a thriving Nigerian business empire, endorsed by a string of popular influencers online. It sold investment deals to its followers, promising them astonishing returns. Today the empire is in tatters, but what went wrong? We hear from a social media star who hyped the company up, a former employee who sold the scheme to the public, and a student who staked his life savings on its success - losing everything in the process. And we’ll find out why firms following a similar pattern are proving so popular in Nigeria.
Reporters: Chiagozie Chiagozie Nwonwu and Fauziyya Tukur Editor: Flora Carmichael