MMM denies crash report, says scheme still alive
Subscribe to Newsletter | Business & Job Opportunies Thu, 27 July 2017 Twitter
HOME » Business & Economy » MMM denies crash report, says scheme still alive

MMM denies crash report, says scheme still alive


Published: 8 months 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


Flood kill 10 year-old-boy, displace 2,000 people in Katsina state
A 10-year-old boy has lost his life while over 2,000 people have been displaced by a flood disaster that ravaged Kaita town, in Kaita Local Government....
Read More...

Pensioners protest non-payment of arrears, barricade road in Benin
Pensioners in Edo on Monday barricaded popular Oba Ovonramwen Square in Benin for several hours over non-payment of gratuities and pension a....
Read More...

Court dissolves 21-year-old marriage over sex starvation in Ibadan
A Mapo Customary Court, Ibadan, on Monday dissolved the 21-year-old marriage, between one Babatunde Olasupo and his wife Shakirat, over starvation of ....
Read More...

18 dead, 18 people missing in China flooding
Flooding in Chinas northeast has left 18 dead and 18 missing, state media said Monday, after the latest deadly deluge to hit the country this summer.
Read More...

EU allocates 700m euros to develop sustainable energy in Nigeria
The European Union (EU) says it has so far committed over 700 million euros for the development of sustainable energy in Nigeria and other ECOWAS coun....
Read More...

Court papers show how Aluko, Omokore allegedly laundered stolen NNPC’s $1.76b
Court papers in Lagos Nigeria have detailed how oil businessmen, Kolawole Akanni Aluko and Jide Omokore laundered the $1.7 billion creamed off the que....
Read More...