Inksnation Sign In has become a controversial name in the world of digital currency and blockchain technology in Nigeria . It is important to understand the reality of this platform in 2025, especially when thousands of Nigerians have suffered financial losses in this scheme. This article will discuss in detail the Inksnation Sign In process, the reality of the Ponzi scheme and the legal action taken by the EFCC.
What is Inksnation?
Inksnation billed itself as the “world’s first philanthropic blockchain,” claiming it could eliminate poverty in any country in 9 months . Founded by iBSmartify Nigeria, the platform launched a digital currency called Pinkoin, which made the incredible promise of giving every Nigerian citizen ₦120,000 ($330) a month for life .
“InksNation claimed it invented the world’s first philanthropic blockchain platform that can end poverty in any country in less than nine months,” but the reality was quite different.
Inksnation Sign In Process
To sign in to Inksnation, users had to follow these steps:
- Open inksnation.io or inksnation.biz in any browser .
- Click on the “Sign Up” or “Register” button .
- Create and enter your username .
- Create a strong password .
- Select your country .
- Create a 4-digit ATM PIN .
- Accept the Terms of Use and click “Sign Up” .
After registration, the system would ask you to contact your introducer and pay for account activation . This is where the Ponzi scheme would begin.
Inksnation Membership Plans
During Inksnation Sign In, users were offered four membership plans :
- Bronze : ₦1,000 – ₦120,000 Pinkoin salary per month, ₦2,760,000 Pinkoin grant
- Silver : ₦10,000 – ₦180,000 Pinkoin salary per month, ₦6,920,000 Pinkoin grant
- Gold : ₦100,000 – ₦240,000 Pinkoin salary per month, ₦12,960,000 Pinkoin grant
- Diamond : ₦1,000,000 – ₦300,000 Pinkoin salary per month, ₦101,700,000 Pinkoin grant
These unreasonably high returns were a clear sign of a Ponzi scheme.
EFCC Action Against Inksnation
Nigeria’s Economic and Financial Crimes Commission (EFCC) declared Inksnation founder Omotade-Sparks Amos Sewanu wanted in November 2020. A fraud case of ₦32 million ($82,700) was registered against him.
The EFCC’s official statement states:
“The public is hereby notified that Omotade-Sparks Amos Sewanu of Inksnation is wanted by the EFCC in a case bordering on obtaining by false pretense, name dropping and fraud to the tune of thirty-two million Naira while claiming to have floated an online digital currency called ‘Pinkoin,'”.
In May 2021, the EFCC finally arrested Sewanu , who had been on the run for a long time, in Sokoto .
The Pinkoin Scam Exposed
Pinkoin was a fake digital currency introduced by Inksnation . The Nigerian Blockchain Technology Association (SiBAN) officially classified Pinkcoin as a Ponzi scheme in August 2020. SEC Nigeria also declared Inksnation and its products illegal and warned the public against dealing with the company .
The biggest problem with this scheme was that it relied on new members’ investments to pay off old members – a classic pyramid structure .
Inksnation Login Official Website
Problems with Inksnation Sign In
During 2020-2021, many users complained about issues with Inksnation Sign In :
- The login portal was frequently down.
- “Doesn’t exist” error occurs even though username and password are correct
- Not getting access even after account activation
- Pinkoin not credited even after payment
All of these problems show that the platform was operating without any real technical infrastructure .
Nigeria’s Ponzi Scheme Timeline
Inksnation is not alone – several Ponzi schemes have been operating in Nigeria:
- MMM Nigeria (2016) : The most infamous scheme that promised 30% returns in 30 days
- Ultimate Cycler, Twinkas (2016) : Peer-to-peer donation systems
- Inksnation (2019-2021) : Crypto-based Ponzi scheme
- CBEX (2025) : A scheme that recently collapsed, causing losses of crores
All these schemes have the same pattern: large returns initially , then a sudden collapse .
Red Flags of Inksnation
The following signs indicated that Inksnation Sign In was a scam:
- Unrealistic promises : Promise of lakhs of rupees per month for life
- No regulatory license : There was no license to operate a financial institution in Nigeria.
- False claims with EFCC : The founder said he was a partner of EFCC , which was completely false.
- Pyramid structure : The system cannot survive without new members .
FAQs
Is Inksnation Sign In still working?
No, the platform has been shut down since the founder’s arrest in 2021. Inksnation Sign In links no longer work.
Can I get my Pinkoin back?
No, Pinkoin was a fake currency that had no real value. Investors lost their money.
Is the Inksnation founder still in jail?
Yes, Omotade-Sparks Amos Sewanu was arrested by the EFCC in May 2021 and the case is ongoing.
How to avoid such scams in the future?
Stay away from platforms that promise unrealistic returns, check SEC registration and invest only in regulated platforms.
Did SiBAN declare Inksnation a scam?
Yes, the Nigerian Blockchain Technology Association (SiBAN) flagged Pinkcoin and Inksnation as Ponzi schemes in 2020 itself.
