3 Aug 2017

5 Good Reasons Not to Participate in MMM Nigeria's New Scheme

The Mavrodi Mundial Moneybox (MMM), which collapsed months ago, has launched a weekly promotional stunt, aimed at wooing old and unsuspecting new ‘investors’.

Here are 5 reasons not to participate in the promo:

  • MMM is a ponzi scheme.

  • MMM is not a financial body. Where do they get the money to give people? From the people! They don't print money. They only prey on the greediness of greedy people. They give John's money to Ruth and take the rest for themselves.

  • There is no free money anywhere. If MMM pays you temporarily, someone close to you will eventually lose their money when it crashes.

  • Once beaten twice shy. MMM recently defrauded thousands of Nigerians. Some accounts are yet to "receive help" at the moment. They are still owing a lot of people.

  • The Securities and Exchange Commission (SEC) and the Central bank of Nigeria (CBN) have warned Nigerians against participating in MMM.

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