Two renowned online platforms in the affiliate marketing industry in Nigeria are currently experiencing full blown financial crisis in their respective establishments.
We have readily and regularly provided you with information on one of the platforms, Racksterli Affiliate Marketing Income Programme scheme. The other affiliate platform is Fieldsmine establishment.
As exclusively reported by newsbeatportal.com on Wednesday June 9, 2021, Racksterli establishment has been unable to access its Zenith Bank Business account after it was blocked by some aggrieved old investors of the company who had not been refunded back their Invested Capital.
The information of the blocking of Racksterli’s Zenith Bank business account did not initially come to limelight considering the fact that the management of the company battled to keep operations going on.
However, the bubble burst on Monday June 9, 2021 when investors began questioning the rationale behind floating a Phase 3 of the Double Coupon Package Offer scheme after the company had earlier closed the Phase 2 of the same scheme on Friday June 4, 2021.
And when it was further revealed that Racksterli had equally not made payments to investors those cashed out from June 4, 2021 till the time of writing this article, everything became crystal clear.
As business activities on Racksterli came to a standstill, reports emerged of similar challenges plaguing Fieldsmine establishment, an affiliate marketing company that made its debut on April 1, 2021.
The CEO of Fieldsmine establishment, writing from his official WhatsApp page, explained to investors on how they were dragged into the whole saga:
“For all the months of Racksterli, I was a vendor and heaven knows I gave in my best to make sure it thrives always and people get to smile at the end of 30 days which gives me so much Joy whenever I see people get paid and they share their testimonies and I never for once have idea or part of all that went down the story which I am not here today to talk about.”
“Long story cut short, some members of Racksterli that were not paid on the old website decided to stand up and reported Vendors account that worked the platform.”
“I can tell you today that the bank accounts of not less than 30 vendors that worked with Racksterli have been blocked, including all accounts linked to my Bank Verification Number (BVN).”
The CEO of Fieldsmine continued: “before and after the issue came up, we were paying from the other of my accounts till some Racksterlians decided to report Vendors’ accounts which also affected mine.”
“One thing you should know is we did not deliberately stopped payments from flowing on fieldsmine.com or invested our money with any platform that’s now affecting us.”
“… pending the little time, all due processes will be followed and our accounts will be released.”
“I urge you to stay calm, don’t stop carrying out your daily activities on the site because it’s certain you will be paid what you have shared.”
As it stands now, both Racksterli and Fieldsmine establishments are in full blown crisis considering the fact that making payments to investors is certainly part of their business models.
Any online investment platform that is unable to pay their investors at maturity is definitely in crisis, but this is a good crisis because these establishments still have money to pay investors.
Investors of both Racksterli and Fieldsmine ought to remain calm at this point in time and monitor happenings as regards when the restrictions on Racksterli’s operation accounts and its vendors would be lifted.