In what would come as a shock to many nigerians, the nigerian governments has commenced plans to Shut Down MMM Nigeria, a phonzi scheme that has benefited some since its introduction
MMM nigeria,has gained much appreciation since it was introduced to nigeria, infact more than half of nigerians are involved in the MMM nigeria scheme.
The effect the planned shut down of MMM nigeria would be very alarming as many people have invested huge amount of money into the scheme.
Speaking at the 2016 Lagos International Trade Fair, Alhaji Umaru Ibrahim, the managing director of the Nigeria Deposit Insurance Corporation (NDIC), stated that modalities have been set up by a committee to see to the shut down of operations of MMM nigeria, a scheme which he described to be nefarious and fraudulent.
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“I wish to sound a word of caution to members of the public on the activities of illegal fund managers, otherwise known as Wonder Banks. It is worrisome to note that despite repeated advice, many unsuspecting members of the public are still falling victims to the mouth-watering interest being offered by these illegal fund managers. “Members of the public are therefore advised to patronise only banking institutions that display the NDIC sticker: “Insured by NDIC” in their banking halls or entrances. However, the regulatory authorities have set up an inter-agency committee under the Financial Services Regulatory Coordinating Committee(FRSCC) to stem the nefarious activities of these fraudster across the nation”.
the proposed plan of the federal government to shut down MMM nigeria operations have not gone down well with many nigerians, some have have taken to social media to voice their disapproval of the planned closure of the MMM nigeria scheme. one Adedoyin Adebamowo took to Facebook to say : ”Government says “Participate in MMM at your own risk” This is laughable. In Nigeria, I sleep at my own risk, I wake up at my own risk, I go out at my own risk, I come in at my own risk, I put my MONEY in the bank at my own risk, Even in banks, CARS are parked at OWNERS risk. I do everything at my own risk. So there’s nothing special about doing MMM at my own risk… Long Live MMM Nigeria…Mavrodians, enjoy jor
So the question now is would you still put your money into MMM scheme knowing that the government has said it would shut down MMM Nigeria