These 'experts' revealed to Naij reporters that the scheme might not last longer than July of 2017 following recent developments such as multiple registrations by participants by users within the scheme.
This news website also learnt that some participants have now added fraudulent activities to the scheme as they now upload fake evidence of payment.
Recently, it was reported that 66 000 Zimbabweans participants were affected when this pyramid scheme crashed.
But operators of MMM have however began to move against fraudulent activities as investment can no longer stay more than 30 days in the system.
Over 3 million Nigerians including the learned and illiterate are participants of the money spinning Ponzi scheme.
With Nigeria sinking further into recession, youths and middle age adults have resorted to Ponzi schemes as a means of survival as it appears that the President Muhammadu Buhari led Federal government seems to be having a hard time battling with the economy. There also seems to be no end in sight to the recession.
A Nigerian, who styled himself as Pastor Ernest Chigozie Mbanefo was reported to be the mastermind of the Ponzi scheme.
Nigerian Communications Week said Mbanefo registered the site MMM-Nigeria.net domain on June 7, 2016 about at about 5 pm Nigerian time. Click to signup for FREE news updates, latest information and hottest gists everyday
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Enter your comment...jobless people.make una leave MMM alone. why all this propoganda. MMM is real
ReplyDeleteNigerians are taking unreasonable risks do to the hardship hunger suffering and hopelessness brought about by this clueless useless APC government. You blame them? Survival is the word. Check out where Nigerians are rushing to - Pool staking, Betting, Various Sports Betting, MMM , Ultimate Cycler and Various Ponzi Schemes, Etc..... Some others take to various crimes and fraud. It is a pity!
ReplyDeleteSai Baba!
Chanji Dole!
Sai El Rufai!
Sai Tinubu!
Sai Oyegun!
Sai Amaechi!
MMM what have you done to our Nigerian old men and women.. Yesterday morning my neighbor fainted .. The news came that that morning his customer came and told him the good news of mmm been closed.. Unknown to him that he is a participant.. After few minutes he fell on the ground and wasn't breathing.. We rushed him to hospital.. At last we found is mmm that invested 6million niara on it.. MMM or Emu Emu Emu as an old grandma in my place use to call it.. Pls let my people go.
ReplyDeleteMMM what have you done to our Nigerian old men and women.. Yesterday morning my neighbor fainted .. The news came that that morning his customer came and told him the good news of mmm been closed.. Unknown to him that he is a participant.. After few minutes he fell on the ground and wasn't breathing.. We rushed him to hospital.. At last we found is mmm that invested 6million niara on it.. MMM or Emu Emu Emu as an old grandma in my place use to call it.. Pls let my people go.
ReplyDeleteGod save Nigeria.. See what mmm has done to people here in Nigeria.. Yesterday morning, my neighbor fainted.. We rushed him to the hospital and every body was wondering what happened to him that made him fainted. After that morning, a news came that he was attending to a customer when the man raised up a news he heard early that Morning that MMM has crashed.. Few minutes later he fell and fainted... After that the man that fell, thank God he's still alive.. According to the man he said that he invested 5million naira in the mmm of a thing.. So please my people make Una learn from others mistake.. Nigeria Una like free money... please MMM or Emu Emu Emu as an old grandma use to call it in my area.. Please leave Nigeria alone.. Buhari case we still dey suffer am.. Una carry another one come. I don talk finish.
ReplyDelete