500naira Networking Earners Club: Scam Or Legit?

Perhaps you've heard about 500Naira Networking Earners Club here on NL, on Facebook, Twitter or even on your street and you wonder, 'Yet another program. Is it real?' Here is a comprehensive and disinterested review of the program giving you both the pros and the cons.

THE PROS
The promise of 500Naira Networking Earners' Club is that you can turn a mere Five Hundred Naira investment into an endless flow of Naira into your local Nigerian bank account to the tune of One Million Naira (N1,000,000) and still counting.

How does this happen? You register for an account. You activate it by paying a one time fee of Five Hundred Naira (N500), you are assigned a referral link. You refer people to the program through your referral link. For each person you refer, you earn Three Hundred Naira (N300). /That means if you can refer only 10 people daily, you earn Three Thousand Naira (N3,000) daily! That would mean Ninety Thousand Naira (N90,000) monthly. And because the amount involved for subscription is so affordable to many Nigerians, and also since almost everyone needs an additional means of making money, getting ten referrals daily should probably be easy.

But that's not all. Apart from receiving Three Hundred naira (N300) for each person you refer, you also get 5% of all the withdrawals made by your down lines. That means after earning Ninety Thousand Naira (N90,000) for referring 300 people in a month, you also get 5% of all the earnings by those 300 down lines. Depending on how active those down lines are, this could easily become a multiple of your direct earning. Let's say your down lines were so poor they could refer only 5 people on the average daily. That means they earn Forty Five Thousand Naira (N45,000) each on the average monthly which brings their total earning to N45,000 x 300 down lines = N13,500,000. The 5% of N13,500,000 is N675,000 which will be added to your direct earning from referring. That is N765,000 monthly earning that comes from referring just 10 people daily.

Note that the above estimations border on the barest minimum. I assumed you can refer only 10 people daily and that your down lines are so weak they can refer only 5 each daily on the average. What if you can do more? Or your down lines do more? The promise is huge but how credible is it? If this program is working, there is no doubt that it will come away as one of the greatest investment ideas that ever a human being conceived. But we still need to find out if it is working.

Firstly, it would be wrong for us to simply throw this aside as 'one of those things' just because the promise sounds too good. Such sweeping skepticism is the reason many people live and die in poverty. On the contrary, wealth has often come from venturing - an attitude that knows something can come from nothing against conventional thinking. It would also be wrong for us to accept the program simply because of the above promises. No, we have to probe into it instead. And we need something objective to show.

The first approach is commonsense. There is no reason why the idea behind the program can't work. We all see how the money comes including how sustainable it can be as long as those behind it remain credible. But, we ask 'how can the program be sustained when the founder goes away with only a one time amount of Two Hundred Naira (N200) only per member?' But, if you consider it, even programs that are absolutely free such as Nairaland and Facebook has been sustained on CPC ads only. So, why not a program that earns Two Hundred naria (N200) for every member? Programs like Nairaland and Facebook can survive however, only because they strove until they became popular. Their strength is in the number, viz the large membership. After all it is said that trickles of water (in really great numbers of course) form an ocean.

So, can 500Naria Networking Earners Club pass the popularity test? I went to Google to find out. I just typed '500n' to see what happens, and Google Instant completed the line to 500naira first, then 500naira networking earners second (a screenshot of this is attached below). That means it's popular of course. A sizable number of people are Googling that key term. After only a year of being in business, this is remarkable.

What of the credibility test? I think the clearest way to know if the program is credible is to check its Facebook page. First of all, the fact that the program is not afraid to be on Facebook seems to show they have nothing to hide. They even allow you to post freely on their Facebook timeline. Then, what comments are people making about them on their own Facebook page? Are they cursing them? As I write this, the page has 5548 likes. This, for me, is a prove both of popularity and credibility. Each like can be seen as a recommendation. Then, I can't see a single comment that's a defamation of the program. I see the following third party posts on their timeline: 'Making money @ ease' 'wow it's a real networking club, it's very sure and real', 'Am loving this' '500Naira Club is growing strong' (see screen shots below).

Then, talking about web safety, I have checked and it is NOT BLACKLISTED by trusted security services such as Google SafeBrowsing, ThreatLog and MalwareDomainList.

THE CONS
From our analyses so far, it would seem that 500Naira Network has it all, right? Wrong. Instead, like everything human, it has its problems too. For instance, in the face of so many scams and bogus programs online today, one difficulty with the 500Naira Networking Earners Club may be marketing. How can you convince many people to join when so many scams are around? - that are working to connect Africans to genuine online opportunities - has created a free guide on 'creative ways' to go about this problem. They also have a plan on how to watch the program to see that - even if is working now - if it begins to deviate everyone detects. i-Gube Webs has joined the program as a way to watch it and they give out the marketing guide free of charge to their down lines. You can read i-Gube review of and join as their down line here: People who have used i-Gube's 'Creative Ways' (I, inclusive) seem to have good recommendation for it. Although, it doesn't have it all too, I learned very new creative online marketing techniques which I have used to get between 30 and 40 people daily (NOTE: you may not get 10 down lines every HOUR as i-Gube boasts. But it still contains wonderful ideas that can be applied in marketing other things too). Then, i-Gube also markets for their down lines by placing their referral links on some of their web pages. I tested this by leaving my referral link (after activation) for a week without marketing it and I got two down lines. So, with so many people signing up under i-Gube, I don't advise anyone to rely fully on their marketing for you. But with their free guide, I'm totally sure you can get - at the very least - 10 down lines daily. You can refer to this post about how I made N48,300 in a week from this
And I have been making more and more.

SUMMARY
500Naria Networking Earners Club looks so simple that many people are bound to look down on it. 'How can I be picking those peanuts? N300? But that's exactly how big money is ever made: In trickles that run large. Look at telecom companies like MTN, Airtel, Glo and Etisalat. Is it not my selling recharge cards at N100, N200, etc that they make their money? What of Facebook or Google that run ads for as low as $5 (less than N1000!) What of Coca Cola that sells bottled drinks at N60 each? If you have an inalienable product that costs only N1 and every Nigerian needs that product, you'd be making no less than N200,000,000 from it. How does this apply to 500Naira Networking Earners? The product they have is needed by all. That product is called 'money making'. By signing up with them, you make that product yours also and you are selling it for Five Hundred Naira while earning N300 from each sale.

If you could see a CPC program that pays $1 per click and you are allowed to solicit clicks, many people would rush to it. But that's exactly what 500Naira Networking Earners Club is essentially. You are free to ask people to 'click' on your referral link, and for nearly everyone of such 'clicks' you have N300 (almost $2). So, I recommend it. But you must be someone that dreams big and who thinks out-of-the-box to make it big with the 500Naira network. Thank you.
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