CBN Wahala: MMM Issues Important Information To Participants

The Mavrodi Mondial Moneybox  popularly known as ‘MMM’ is calling on all of its participants to wise up – not to throw caution to the wind – when making cash transfers or deposits in the wake of a crackdown by the Federal Government of Nigeria.

An ‘important’ information issued on Twitter via an account that shares its ideology read:

The information is coming barely a day after the House of Representatives ordered law enforcement agencies and the Central Bank of Nigeria (CBN) to track down and arrest promoters of the “questionable” investment scheme.

The crackdown order was received with disapproval and condemnation from aggrieved Nigerians – who are of the opinion that the legislators have abandoned several pressing issues in the country for a trivial issue like MMM.

mmm-cbn-crackdown

Consequently, there are strong indications that the Apex Bank has begun to blacklist all banking transactions related to “MMM”.

Bear in mind, the MMM, is a deposit money scheme, that promises 30 per cent return on investment for any money put into the scheme within 30 days.

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In spite of its notoriety among Nigerians, critics still inferred that the business is a Ponzi scheme because its operators use money from earlier investors to pay later investors.

Checks show that Nigerians benefiting from the scheme are “very passionate” and any forceful crackdown on the scheme could breed serious national security concerns

The war between Nigeria and its citizens – especially the downtrodden – might just be heating up in the wake of the current economic recession in the West African country.

With the current unrest within the Niger Delta creeks, courtesy the vicious yet vivacious activities of a sabotaging cult, sandwiched in between a crave for Islamic Caliphate by militants of a notorious death cult in Northern Nigeria; the country might just be headed for an untimely chaos.

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