MMM denies crash report, says scheme still alive
Subscribe to Newsletter | Business & Job Opportunies Thu, 19 January 2017 Twitter
HOME » Business & Economy » MMM denies crash report, says scheme still alive

MMM denies crash report, says scheme still alive


Published: one month ago
Editor: Adigun Abiola, Africa.


The operators of Mavrodi Mondial Moneybox (MMM) in Nigeria have denied reports that the reports that the alleged Ponzi scheme has crashed.




Rather, operators say the ‘freezing of confirmed Mavros’ was aimed at ensuring the sustainability of the scheme in Nigeria beyond 2016. They said in a message sent to all subscribers that the measure was put in place because “in the New Year season the System is experiencing heavy workload.”

During the period – December 12 to January 12 – none of the participants would be able to ‘get help’ (withdraw funds deposited with the mandatory 30% interest).


“The one month Freezing of Confirmed Mavros is a step to ensure the sustainability and stability of the MMM Nigeria system,” MMM said on its dedicated Twitter account. “There is no better time to PH than now when you can earn 50% more of your amount of PH. There is nothing to worry about.”


“While your Mavro is in one month Freezing it continues to grow so there is nothing to be worried about. Just continue to PH to earn 50% more.”

MMM has come under intense government scrutiny, with the House of Representatives, Central Bank of Nigeria and Security and exchange Commission, at different times, warning Nigerians, against investing in the scheme, saying doing so is risky.

According to information on MMM Nigeria website, about over 2 million Nigerians are currently participating in the scheme.


Tags in this article:
News

READ ALSO: Femi Adesina denies endorsing ponzi scheme, MMM

Copyright Dailyafricagist.
All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from Dailyafricagist.


Do You Like This Story?


Become a Fan On Facebook and Follow Us On Twitter


Related News Topics

All News


APC to hold National Convention in April
The All Progressives Congress (APC) on Wednesday said it would hold its National Convention in April.
Read More...

We will use pension fund to finance infrastructure in Nigeria - Osinbajo
The Federal Government is working on "how to tap into the huge pension fund to finance infrastructure in the country," Vice President Yemi O....
Read More...

Senator Ahmed Makarfi says PDP is government-in-waiting
The Peoples Democracy Party (PDP) on Wednesday said it was not just an opposition party but a government-in-waiting
Read More...

Aisha Buhari expresses pain over accidental bombing in IDP camp
The wife of the president, Aisha Muhammadu Buhari, feels really pained by what she described as the erroneous bombing of Rann in Kala Balge Local Gove....
Read More...

IMN demands unconditional release of Sheikh Ibrahim Zakzaky
The Shuhadah Foundation of the Islamic Movement in Nigeria (IMN) has demanded the unconditional release of Shiek Ibrahim Zakzaky in compliance with an....
Read More...

Minister orders investigation into accidental bombing in Borno
The Minister of Defence, Mansur Dan-Ali, has ordered a full scale investigation into Tuesday’s accidental bombing of civilian target by the mili....
Read More...