E-Wealth Connect: P2P Model Promises Financial Freedom

A new financial empowerment platform, E-Wealth Connect (EWC), is making waves across Nigeria, promising financial freedom through a decentralized, peer-to-peer (P2P) contribution system. The platform officially launched on January 4, 2025, and has since expanded its reach to all 36 states in Nigeria.

At an awareness event held today at Saint Leo’s Catholic Church, Lagos, EWC took a significant step by empowering 50 Nigerians, reaffirming its mission to alleviate poverty through a structured contributory system.

A Digitalized Community Thrift System

Speaking at the event, Esther Anyegbor, a key partner of E-Wealth Connect, likened the platform to the traditional “Ajo” (daily contribution system), where members contribute funds and receive financial assistance in turn.

“E-Wealth Connect is not just a platform; it’s a movement of people committed to lifting each other up financially. When you get connected, you win,” she stated.

Unlike Ponzi schemes, EWC claims to operate without a central authority. Instead, transactions occur directly between participants, eliminating the need for oversight by regulatory bodies such as the Central Bank of Nigeria (CBN) or the Securities and Exchange Commission (SEC).

To join, members must contribute a minimum of ₦20,000, with the potential to earn up to 100% returns within 21 days. However, the system imposes strict penalties on defaulting members.

“Any member who fails to contribute within 24 hours faces a 10% penalty charge or risks being blocked from the system,” Esther explained.

A Solution to Economic Hardships?

Co-founder Deborah Eneh highlighted the dire economic conditions in Nigeria as a driving force behind E-Wealth Connect.

“We created this initiative to provide a financial lifeline for struggling Nigerians. The hardship is unbearable, and this platform is here to ease that burden,” she said.

Despite skepticism from financial analysts who warn of risks associated with unregulated financial models, many Nigerians are embracing the initiative.

A participant, Gloria Jonathan, who traveled from Abuja to attend the event, shared her optimism:

“I have seen other platforms collapse, but E-Wealth Connect is different. Here, there is no central account, and members deal directly with one another.”

Future Plans: Community Token & Housing Scheme

In a surprising announcement, Winner Ada Dollar, a prominent investor and speaker at the event, unveiled plans to launch a community tokenbefore the end of the year.

“By December, our platform will introduce a community token that will make many Nigerians millionaires, even in dollars,”she revealed.

Additionally, E-Wealth Connect plans to introduce a housing scheme, allowing members to invest as little as ₦500,000 towards homeownership.

“Within six months, contributors will have enough funds to buy homes in designated estates,” Ada Dollar added.

A Global Initiative with Growing Partnerships

E-Wealth Connect is also gaining traction beyond Nigeria. According to the organizers, financial communities in Germany, the UK, and the USAare already partnering with the platform.

“This is not just a Nigerian initiative—it’s a global movement. The system ensures fairness as payments are distributed automatically through a decentralized process,” Ada Dollar stated.

Caution from Financial Experts

While the initiative has been met with enthusiasm, financial experts remain skeptical. Tunde Adebayo, a Lagos-based economist, cautioned Nigerians against rushing into unregulated financial models.

“Many similar platforms have collapsed in the past when new investments slowed down. Nigerians must be careful and conduct thorough research before investing,” he warned.

E-Wealth Connect is positioning itself as a game-changer in financial empowerment, promising community-driven wealth redistribution. However, with no regulatory oversight, its long-term sustainability remains uncertain.

As Nigeria continues to grapple with economic hardship, the platform offers hope to many—but only time will tell if it delivers on its promises.