The Governor of the National Bank of Rwanda John Rwangombwa has written to all banks operating in Rwanda warning them against conducting any transactions with D9 club, cautioning that the carefully packaged business is a scam.
In a letter seen by this news site, Rwangwombwa, an equivalent of Uganda’s Emmanuel Tumusiime Mutebile of the Bank of Uganda stated that the internet chain recruitment had extended its operations in the East Afrian region especially in Ugandans.
“It has come to the attention of the National Bank of Rwanda that an organization known as D9 club which uses internet chain recruitment with the characteristics of a pyramid scheme is extending its operations in the region, especially in Uganda, Kenya, Tanzania and Zambia,” part of the letter authored by Mr Rwangombwa reads.
known for their strict and efficient customer protection mechanisms, Rwandan systems were quick to detect the fraudulent ways of the chain that is promising to lift the poor from poverty.
The letter that carried a strong message to the banks further identified a one Magara Smart Protus as the promoter of the operations of D9 club. They also identified the bank account on which unsuspecting subscribers have been ripped off their savings.
“It has also come to our attention that Mr Magara Smart Protus, the promoter of D9 in Uganda has been running the operation in Rwanda through his bank account No 10021007211913 opened with Equity Bank Uganda.
The purpose of this letter is to notify you of this scam and require you to put in place adequate controls to prevent transfer of funds to this scheme and stop its spread across the country,” the letter concludes.
In December last year, a Facebook message was posted on the account with names Smart Protus urging people to joining D9 club.
“Life is a gift, and it offers us the privilege, opportunity, and responsibility to give something back by becoming more. Register today, I’ll see you at the top,” the message reads.
It remains to be seen whether the Bank of Uganda has detected the scam and how Ugandans will be protected from fraud.