Speaking at NDIC day at the ongoing 38th Kaduna International Trade Fair on Thursday, the Managing Director of the Corporation, Alhaji Umaru Ibrahim decried that despite repeated warnings by the Central Bank of Nigeria (CBN) and the corporation, Nigerian's still patronise MMM.
He noted that the creation, usage or trading in the Ponzi scheme in forms of virtual currencies, such as Bitcoin, Ripples, Monero, Litecoin, Dogecoin and Onecoin as currencies for medium of exchange are Internet-based transactions and are not authorised by the CBN due to the risks involved in their operations.
He cautioned that any person or groups of persons who invest their money in the Phonzi scheme does so at their own risk.
He added,"The Phonzi scheme is the phenomenon of illegal fund managers, popularly called "Wonder Banks" which have continued to defraud unsuspecting members of the public of their hard earned money. This phenomenon has been a source for concern because despite our repeated warnings over the years, some members of the public have continued to fall victims of their fraudulent practices.
"We would like to reiterate the fact that these fund managers are illegal as they are neither licences by the CBN to take deposits from members of the public not are those who patronise them covered by the NDIC deposit insurance scheme. I want to also draw the attention of some cooperative society which often go beyond their primary mandate by accepting contributions from members as cooperative societies are only recognised to mobilise savings from their members. " Click to signup for FREE news updates, latest information and hottest gists everyday
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Why take Panadol for another person's headache
ReplyDeletei tired live mmm alone is our business and not yours
ReplyDeleteOga Umaru Ibrahim, how does it concern you and the Nigeria government? You see object, you leave it, you com dey pursue shadow. Do you guys care about Nigerians? Nonsence. Don't worry, we shall all know your own bunker/safe when you leave office. Leave us alone. A word is enough for the wise.
ReplyDeletePeople like you deliberately created panic that eventually led to the problems of the scheme. You directly or indirectly caused the loss of the 18 billion naira
ReplyDeleteAll of you talking here, go and work hard for your money! Stop all these quick money thing. E go hook una for throat. Lazy people.
ReplyDelete