I must say that I couldn't find any atom of flaws in your statement.

The act of showing off ones wealth has become a normal practice in Nigeria, and it is only the most wealthy or uneducated individuals that have access to huge amounts of money like the Internet fraudsters are indulge in this practice.

The part of it affecting prices of commodities is what is new to me, but with your explanation I tend to agree to the motion. When I seller figures out that his supposed customer or buyer is wealthy and would spend anyhow, he'd definitely increase the rates of his goods to make more profits.