The head, Consumer Protection Department of the CBN, Mrs Kadija Kassim gave the warning at a forum in Niger state to mark the World Savings Day.
According to her, the activities of these wonder banks are not regulated by the CBN.
The regulator’s warning follows the campaign of an online investment scheme asking the investing public to participate in what it calls mutual aid financial network, with a monthly investment return of 30%.
She said, “We have heard about the activities of MMM, but I want to warn you against it because they are wonder banks that are not regulated.
“Desist from their activities because they are fraudulent.” Click to signup for FREE news updates, latest information and hottest gists everyday
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CBN is just afraid that MMM will over take them sooner or later.
ReplyDeleteGo and sleep madam Kassim. Leave those people alone! Useless magots.
ReplyDeleteTaaaaa, ewuohia, leave us to our faith.enjoying my Infiniti x35 come and ride with me
ReplyDeleteThere is no free money anywhere. Na greed O ju kokoro de worry people.
ReplyDeleteAll those commenting and abusing CBN for issuing the warning want those who will follow them put the money so that they would not lose all their money.
Devil is a liar.
By the way if not because of APC induced recession who wan play kalukalu self!
Change dole!