In December 2016, about three million Nigerians were flung into financial turmoil, due to the crash of the Mavrodi Mundial Moneybox (MMM) Ponzi Scheme.
According to the Nigerian Deposit Insurance Corporation (NDIC), about N18 billion was lost when MMM shut down. Many Nigerians will never forget that experience – some have still not recovered – and it was always a case of when and how, rather than if, that story would be translated to cinema.
This challenge is taken up by Kayode Kasum, the young Nigerian director who is best known for movies like Oga Bolaji, Dognapped, Sugar Rush, and Kambili: The Whole 30 Yards. Kasum loves to use humour and romance in telling his stories, so his direction with this film was a fairly predictable one. In achieving his vision, he enlists the help of Toluwani Obayan (who writes the script) and Vincent Okonkwo (who takes charge of production).
Ponzi, a comedy film rolled out by VSL Media and Film Trybe, premiered on March 12, 2021. The movie stars Uzoamaka Aniunoh, Timini Egbuson, Mawuli Gavor, Tope Tedela, Zubby Michael and Immaculate Oko-Kasum. There are also appearances by Nollywood veterans Jide Kosoko and Chinyere Wilfred, as well as popular Instagram comics Broda Shaggi and Debo Macaroni.
The movie, set in the Ota area of Ogun State, opens with a scene where Abeke (Aniunoh), who also plays the role of an omniscient narrator, slowly introduces the audience to the other characters who live in this close-knit lower-middle-class settlement, and strive to get by each day amidst lofty aspirations. Ikenna (Egbuson), an unemployed graduate spends his time philandering while he lives with his brother Uchenna (Macaroni), who organises private tutoring sessions with his wife Zara (Oko-Kasum). Chubby (Broda Shaggi) dreams of being a successful music artist, but he can’t stop borrowing money, which frequently places him at the mercy of Rob (Michael), a hustler who doubles as a loan shark. Tafa (Tedela), Zara’s brother, runs a small suya stand but dreams of being a big-time chef.
At the other side of the tracks, Abeke’s father Chief Olaoba (Kosoko) lives in affluence with his wife Mrs. Olaoba (Wilfred). He is actively involved in politics, refuses to develop the community, and from time to time, drives out with his convoy to spray money on his constituents.
One day, a young man named Rob (Gavor) finds his way to the community, introduces himself as Chief Olaoba’s estranged son, and with a few acts of generosity, gains the trust of the people. He convinces them to invest in a scheme called Richvest, which “could potentially fetch them billions of naira”. They throw their hats in the ring, and events unfold in a manner that they don’t expect.
In directing this film, Kasum goes for low-hanging fruit. The themes of financial impropriety, greed, distrust, and government embezzlement are very obvious, and he makes no attempt to shroud anything in mystery. There is a romantic subplot that involves Aniunoh and Egbuson’s characters, but it is peripheral to the plot, and at best it only serves for aesthetics.
In using Aniunoh as both actor and narrator, Kasum uses the “movie voice” technique, which can be found in Hollywood films like Fight Club and Memento. It’s not the best execution, but there will be marks for the attempt. There is also an eight-second moment where Debo Macaroni’s character breaks the fourth wall, making reference to his popular “you are doing well” phrase. It is cheesy, but hearty at the same time.
Where the film really succeeds is with the doses of humour splashed across the scenes. Zubby Michael shines in this one, his role interpretation evokes genuine laughter, and he is one of the movie’s brightest spots. Per the acting, Aniunoh manages to hold her own for about two-thirds of the film, until she disappears in the final act. Egbuson does not have to do too much, grinning when appropriate, and playing the role of a playboy to near-perfection. Macaroni’s Igbo accent is by no means convincing, and Tedela in turning up as a Fulani man is guilty of same. Broda Shaggi’s acting chops have improved, but he still tends to be over the top on more occasions than one.
Obayan would deserve applause for a decent script – the dialogue is really good for the first 40 minutes – if she didn’t bungle it in the latter stages. The execution of Rob’s scam is as muddled as it gets. It seems too rushed, too dodgy, like the crew was trying to squeeze everything into a 100-minute time frame.
Kasum deserves his share of the blame, too: the transition between scenes left much to be desired. Investment and finance geeks will have a field day tearing this film to shreds. A good script editor would have tried to patch up the plot holes, and once again, where sound and cinematography have improved, storytelling is still one area that Nollywood struggles to get right.
Ultimately, Ponzi is a film that is rich in comedy but falls short on many other fronts. As with his previous offering Sugar Rush, humour sometimes is not enough to paper over those cracks that border on the ridiculous. It is possible, like Femi Ogunsanwo did with Finding Hubby and Funke Akindele pulled off with Omo Ghetto, for a movie to be funny without losing its narrative coherence. The only way for the audience to enjoy this film is to close their eyes to its technical flaws – and they are many. They will probably laugh (a lot), but in the end, a good film transcends giggles, and when it comes down to categorising Nollywood films, this will not be one of the exactly memorable ones.
Rating: 6/10.