Mr. HarrisonInfluence of online ponzi schemes on student attitude towards learning
TABLE OF CONTENT
CHAPTER ONE
INTRODUCTION
1.1 Background of the Study
1.2 Statement of Research Problem
1.3 Objectives of the Study
1.4 Research Questions
1.5 Significance of the Study
1.6 Scope of the Study
1.7 Limitation to the Study
1.8 Definitions of Terms
CHAPTER TWO
REVIEW LITERATURE
2.1 Conceptual framework
2.2 Theoretical Framework
2.2 Empirical Framework
2.4 Summary
CHAPTER THREE
RESEARCH METHODOLOGY
3.1 Research Design
3.2 Population of the Study
3.3 Determination of Sample Size
3.4 Sampling Procedure/Technique
3.5 source of Data
3.5.1 Primary Source
3.5.2 Secondary Source
3.6 Method of Data collection
3.7 validity of Research Instrument
3.8 Reliability of Research Instrument
3.9 Method of Data Analysis
CHAPTER FOUR
4.1 Data Presentation and Analysis
4.2 Discussion of the Findings
CHAPTER FIVE
5.1 Summary of Findings
5.2 Conclusion
5.3 Recommendations
5.4 Suggestions for Further Studies
Reference
Appendix
Questionnaire
Influence of online ponzi schemes on student attitude towards learning
CHAPTER ONE
INTRODUCTION
1.1 Background of the Study
In any places, online investment scheme exist and have caused more harm than good. Deb (2014) Observe that ethical value and moral standards are at their lowest ebb in Nigeria due to the spread of shit or Ponzi funds in co-orporate and non-corporate organization. In aligning economy with high unemployment rate and struggle to make ends meet undergraduate are prime targets of the operators (Adebumiti, 2016). Several state have witnessed a spike in the similar investment scheme particularly during 2015-2019 (Caruajai, Monroe, 2009).
The increase of these online investment programs has been unprecedented as even the Nigerian government has taken note as a result of its popularity. Good examples of these online investment programs include MMM, get help worldwide, ultimate cycler and a host of others evident in Nigeria today. It is obvious that many Nigerians are aware of these current Pyramid scheme trending in Nigeria the most popular being the MMM Nigeria (http://www.nigeria-) which promises 30% Return on Investment (ROI) after 30 days. The online investment scheme are a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned through legitimate sources. Operators of online investment schemes like MMM Nigeria usually entice new investors by offering higher returns than other investments, in the form of short-term returns that are either abnormally high or unusually consistent (Dunn, 2004).
Initially, the promoters of these online investment schemes will pay out high returns to attract more investors, and to lure current investors into putting in additional money. Other investors begin to participate, leading to a cascade effect. The “return” to the initial investors is paid out of the investments of new entrants, and not out of profits. Often the high returns encourage investors to leave their money in the scheme, with the result that the promoter does not have to pay out very much to investors; he simply has to send them statements showing how much they have earned. This maintains the deception that the scheme is an investment with high returns (Frankel, 2012).
The overall psychology of a ponzu schemer is corrupt. He relies on lack of awareness to defraud unsuspecting individuals. The Ponzi scheme operators engender support from an ever growing group of investors usually with the promise of consistent high returns on investment (Drew &Drew, 2010). They gain the trust of their victims based on a false message that income is being earned as a result of investment in legitimate assets. This false belief is sustained through a combination of large and /or stable returns to investors and information manipulation by the schemer (Asogwa, etim,etukafia, Akpanuko &Ntiedo, 2017).
Notably, federal investigators began looking into the company’s affairs on suspicion of running a Ponzi scheme after seeing months of abnormally high returns without any visible product or service offered. It is regrettably disappointing to know that, even some coworker’s business ideas have been turned to just another Ponzi scheme to defraud participants. Nigerian students in the circle of the present economic recession have not been left behind in the drive to get rich quickly. They too have been enveloped in the ‘get-rich-soon’ syndrome. This obviously tends to specifically affect adversely their attitude towards academic learning and their academic performance in general. (Peck, 2010)
In Nigeria, students are amongst those most likely to be targeted by Ponzi scheme operators. A problem for students especially in tertiary institutions is balancing time between academic, economic and social needs. The operators of these Ponzi schemes are also aware that some students struggle to finance themselves in high institutions. Evidently, students on becoming victims of these Ponzi schemes resort to going the ‘extra length’ to make up for the great loss; thus, they would dare to engage in some immoral, ungodly and extremely dangerous acts such as theft, robbery, cheating, incessant lying, fraud, prostitution amongst others. On the other hand, ordeals such as the abrupt shut down (close) of sites where these Ponzi schemes are operated on, can have great effect on the students emotionally, reducing learning process in the academic/ educational sector. (Rebecca, 2003)
For these reasons and more, the researcher tries to examine the influence of online Ponzi schemes on students’ attitude towards learning using Delta State Polytechnic Ogwashi-uku as is point of focus.
Influence of online ponzi schemes on student attitude towards learning
1.2 Statement of the Problem
A Ponzi scheme is a fraudulent investment scheme that promises high rates of return with little risk – and for people in want of acquiring cash, these promises sound like the perfect idea for investment. The scheme itself, similar to that of a pyramid scheme, is based on consistently including new investors in order to pay the earlier bankers. However, at some point, the system is bound to fail as there won’t be enough money to go around.
Online Ponzi scheme such as the MMM, Twinkers, Royal blues etc. has affected the learning of students such that most students no longer pay attention during lectures, they prefer going online to check the update on their payment to know how far their payment is been made thereby affecting their studies and learning process. Online Ponzi scheme such as MMM has made a lot of students too gamble with their school fees and other things thereby not making them pay their fees and they won’t be able to take their examines and get their results.
The learning of students has been greatly affected by the online Ponzi scheme in such a way that students refuse to go to lectures because they want to get money, thereby increasing the rate of robbery, cheating, incessant lying, fraud, prostitution amongst others which affect the learning ability of the students. More so, the students who have become victims of these Ponzi schemes are affected psychologically, emotionally, intellectually and more making learning process difficult.
Therefore, the problem this study tries to solve is the influence of online Ponzi schemes on students’ attitude towards learning.
1.3 Objectives of the Study
The objective of this study is to find out the influence which online Ponzi schemes have on the students’ attitude towards learning in DSPG. The specific objectives include:
- To determine out if DSPG students are aware of online Ponzi schemes.
- To determine the level of exposure and involvement of DSPG students in online Ponzi schemes.
- To determine whether involvement in online Ponzi schemes among DSPG students affects their attitude towards learning.
1.4 Research Questions
- Are DSPG students aware of online Ponzi schemes?
- What is the level of exposure and involvement of DSPG students in online Ponzi schemes?
- To what extent does involvement in online Ponzi schemes among DSPG students affect their attitude towards learning?
1.5 Significance Of The Study
Findings from this study will be of immense benefit to students of tertiary institutions, as recommendations from the study will serve as warning to them from involvement in such Ponzi schemes emerging subsequently.
Also, this study will be of benefit to government, as it will suggest ways for government to guide members of the public (the masses) from been defrauded by those who form these Ponzi schemes.
Finally, this research will provide on in depth knowledge to researchers and readers alike. Therefore, future researchers will find it beneficial, since the study will form bedrock on which further studies can be conducted on the subject matter.
1.6 Scope of the study
This study intends to cover the influence of online Ponzi schemes on students’ attitude towards learning. However, due to the constraint of time and finance, the researcher will restrict the study to students of Delta State Polytechnic, Ogwashi-uku.
1.7 Limitation of the Study
The researcher did not find it easy collecting relevant data for this study. Secondly, the time used to undertake the study was limited. The time was loaded with other academic activities and as a result limited time was made available for the study.
1.8 Definition Of Terms
- Ponzi scheme: This is a form of fraud in which belief in the success of a non-existent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors.
- Student: This is a person who is studying at a school or college.
- Learning: The acquisition of knowledge or skills through experience, study, or by being taught.
- Attitude: a settled way of thinking or feeling about someone or something, typically one that is reflected in a person’s behavior.
- Influence: the capacity to have an effect on the character, development, or behavior of someone or something, or the effect itself.
- Academic Performance: This is the extent to which a student, teacher or institution has achieved their short or long-term educational goals.
Mr. Harrison
