I want to bring your attention to a number of Ponzi schemes being perpetuated in the country under names like MMM, Global Alliance, Helping hands etc. I do not know whether there are currently laws in our constitution that allow or criminalizes such schemes.

A Ponzi scheme (also a Ponzi game or a Ponzi) is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned through legitimate sources. Operators of Ponzi schemes usually entice new investors by offering higher returns than other investments, in the form of short-term returns that are either abnormally high or unusually consistent.

Ponzi schemes occasionally begin as legitimate businesses, until the business fails to achieve the returns expected. The business becomes a Ponzi scheme if it then continues under fraudulent terms. Whatever the initial situation, the perpetuation of the high returns requires an ever-increasing flow of money from new investors to sustain the scheme.
In all places where this scheme operated, unsuspecting citizens lost their moneys either to the scammers or due to a collapse of the fraudulent system.
If these schemes are not checked for their legitimacy, it could lead to a lot of Nigerians losing their moneys to scammers.

I hope this is looked into

You are saying helping hands is a ponzi scheme too?