mayoor15:
No equilibrium..no balance in PH and GH and you call that healthy...a point will come when people will refuse to put money in because people are not able to get money out on tume..

wizkidblogger:
MMM Zimbabwe and South Africa have crashed. Google it.

MMM Nigeria will soon crash.

unite4real:


if u believe so much in MMM why dont you throw back all your proceed from MMM back into MMM instead of other investments.

12inchDickson:
uhmmm drop ur whatsapp

rossy8:
MMM Nigeria is really affecting banks that's why CBN is crying out.

4peace:


МММ was a Russian company that perpetrated one of the world's largest Ponzi schemes of all time. By different estimates from 5 to 40 million people lost up to $10 billion. The company started attracting money from private investors, promising annual returns of up to 1000%. It is unclear whether a Ponzi scheme was the initial intention, as such extravagant returns might have been possible during the Russian hyperinflation in such commerce as import-export.

https://en.m.wikipedia.org/wiki/MMM_(Ponzi_scheme_company)

mayoor15:
really...how has MMM participants relieved d country during this recession period

claremont:
Too many educated illiterates on this page. A little research on the internet overwhelmingly supports the fact that this is clearly a Ponzi scheme. The CBN has now decided to do this research for you, and they have advised you accordingly. Yet, some people are still insisting that they are right, and the CBN and other regulatory bodies who have outlawed this scam worldwide are all wrong.

I don't really blame the people who get scammed on this, the present state of the Nigerian economy has led to people investing in snake oil schemes that would always lead to tears in the end.

Pierocash:
it ruite unfortunate that CBN has joined d team of ignorant wailers attacking MMM without finding out how it works.how wil MMM RUN wit peoples money,is MMM a bank?do they av access to anybody's money that they wil run away wit?.no body pays to MMM,It is only a
platform connecting participant who donate to each other directly thru individual bank accounts.they should stop attacking MMM,no participant har ever lost a dime to MMM over d yrs
Long live MMM

uckennety:


RUBBISH

Have you tried to google IS GOD A SCAM?[/b]
Also try is [b]IS SCHOOL A SCAM?

Wt do u see?

kennygee:


You will not hear now. Hope you will still be shouting "long live MMM" when ur money dies with them.

shogat:
The Central Bank of Nigeria (CBN) has warned Nigerians to be careful of any deposit money institution that is not insured by the Nigeria Deposit Insurance Corporation (NDIC) especially the trending MMM Nigeria community.

The bank through its the acting Director of Corporate Communications, Mr. Isaac Okoroafor, made this known yesterday against the proliferation of wonder banks in the country in recent times.

Okoroafor said such deposit money institutions were dubious present Ponzi schemes.

“At times like this when the economy has suffered some decline, Nigerians should be very careful with those they deal with. Any institution that is not licensed by the CBN to accept deposits should not be given money to keep under any guise,” he advised.

He warned Nigerians to beware of the so-called wonder banks, explaining that they were makeshift institutions to dupe people.

“We can vouch for the banking system. The deposit money banks are the only licensed institutions to take deposits. If you need to deposit money in any form, go to any of the deposit money banks and put your money, you can buy fixed income instruments or invest in stocks,” he said.

Okoroafor said the CBN could not guarantee the unregistered institutions, insisting that when depositors lose money to them, the bank would not be able to help them.

“These people always come with very interesting propositions. These are fraudsters who are just out there to collect people’s money and run away as soon as they hit their target. There is no insurance because the NDIC does not even protect them against such risks when they occur,” the CBN said.

He said the CBN was intensifying efforts and liaising with the various security agencies to identify the promoters of these schemes and have such persons arrested and prosecuted, adding that anyone caught with them would also be made to face the law.

Promoters of wonder banks and other pyramid schemes in the country are currently taking advantage of the rising level of unemployment as well as the shrinking disposable income to attract unsuspecting prey.

From Lagos to Port Harcourt and some other big cities in the country, owners of these illegal businesses have been offering Nigerians mouth-watering interest rates, which cannot be found in the banking system, in a bid to attract large number of customers before they run away with huge cash.

For instance, at the Ojuelegba area of Lagos, THISDAY was recently given a small handbill advertising investment schemes that offers 30 per cent returns in 30 days.

Also, there is a new Ponzi scheme called ‘MMM’ that is spreading like wildfire. A lot of young school leavers have already signed on to this scheme, which the promoters are marketing as a “mutual fund.”

“MMM offers its participants 30 per cent growth rate per month for each and every donation they make into the system… MMM belongs to the community, its sustainability depends on the activities of the people that make up the MMM Nigeria community, that is me and you and other MMM Nigeria participants,” the promoters wrote in an online advertisement.

Typically, what promoters of such pyramid scheme do is that they offer rates far beyond what is obtainable in commercial banks. This would always attract a lot of people who would always rush in to stake their funds. But, those who join the scheme late would always be the ones to lose their shirts as they would have been convinced by those that joined earlier to invest huge amounts of money.

But experts have warned against falling for the bait of illegal deposit-taking institutions which are not licensed by the CBN, saying that their only intention is to defraud members of the public.

Recall that with the Nigerian economy is in recession, the National Bureau of Statistics (NBS) recently revealed that the country’s gross domestic product (GDP) contracted by 2.06 per cent in the second quarter of 2016, compared to the negative growth of 0.36 per cent recorded in the first quarter of 2016.

Also, national unemployment rate also rose to 13.3 per cent in the second quarter of 2016, from 12.1 in the first quarter of 2016.



http://www.financialwatchngr.com/2016/09/14/cbn-warns-nigerians-against-mmm-calls-it-wonder-bank/

pavlovt:
Government and SEC deprived you of diving into the wealth from bitcoin, is that fair?
Banks will be like, your money is safe with us, and my question is, is our money really safe? They use our money (because without u and I, nothing like bank) to give loans to companies and make huge interest, if they are giving me 5% monthly, i won’t be shouting instead they charge me for using my money for business. Billing you unnecessary charges and the worse part of it is that you can’t talk, even if you do, who will hear you? Bank will send you a credit alert or interest alert of #0.50k and charge #4 for the sms. And you said that one is not a legalized scam (you are wicked).
Politicians will be like vote for us, when you vote for us, we will do this do that. Your vote counts. Liars, the worst scams ever seen are the politicians, deceivers. The less privilege are the ones languishing in poverty but you are there living in luxuries, you denied us from going to the best schools because of the high fees but your children are in the best school outside the country. And you think you are not a scam? You are deceiving yourself.
School will be like read your book and make sure you pass very well so that you can get a good job, where is the job? 6Years in primary, 6yrs secondary school that is if you didn’t repeat any class then 4 yrs in tertiary institution as the case may be plus another 1yr of youth service and after all these years no job to be found and you said that is not a scam?
You subscribe to DSTV, after you might have paid your NEPA bill of which you only get light in the middle of the night around 1am -5am, tell me who want to use the light? And DSTV management could not even pause the operation for you since you are not using the service, that is non of their business and at the end of the month, NEPA will still come with an estimated bill of which you can’t shout, if you do, they will cut your wire and assume you did nothing to it for a month, you still pay for that month despite you didn’t use light and when you want to reconnect, you will pay reconnection fee. is that not a scam?
If I should continue disclosing all their scams, facebook won’t be enough to accommodate it.
We have been in this slavery long enough, we can’t take it any more. It is obvious they do not want the average man to live the better life that we suppose to.
MMM has come to stay and not SEC nor Government can stop it
They said MMM is a scam, yes we know
is a ponzi scheme, yes we are aware of that
is a fraud, yeeeessss we know about that also
Ah, the founder is a thief, yes we read about that, we even read that he was jailed, and so what?
MMM is too risky (Abeg shut up that dirty mouth)
I’ve been taking risk since i was born, living in Nigeria (where there is no security, if its not boko haram today, it will be fulani herdsmen or some stupid avengers and their kinsmen kidnappers etc) is the greatest risk one can take and if i have bee
n living in it for more than 40yrs with the risk attached, i tell you the truth, i can overcome any risk.
We are risk takers
We are scammers
We are ponzians
We are Mavrodian
We are MMM

Elegantdiva:
That was how"LETS PARTNER WITH YOU" came into action. Nigerians should be careful. Some will gain while some will cry when the time comes

Teespice:


more like a ponzi scheme?

einsteine:
If MMM wasn't a ponzi scheme, it won't need the current participants to keep spreading the dangerous gospel of 30% returns. People would have joined of their own volition.

The current participants know that if they don't get new guys to join, they would lose all their money.

Folksyharry:


People have been telling me about MMM but I still can't get my head round how everyone gets 30% at the end of the month. 30%!!!! Wow!
People may be making money from it but I'll just keep my money in my account until I have something reasonable to do with it.

Pierocash:

POINT ME ONE SINGLE COUNTRY OVER D YRS THAT MMM HAS DEFRAUDED THEN COME BACK TO UPDATE ME.
THEY CONDEMN MMM YET THEY PLAY AND PROMOTE NAIRABET,THEY EVN GRANT THEM LISENCE.
YEYE PEOPLE

Pierocash:

IT IS D GOVT THAT PLUNGED NATION INTO RECCESSION EVN B4 MMM CAME INTO NIGERIA,THEY SHOULD ALSO FIND A WAY TO REVIVE THEIR ECONOMY OF GREED

Hearme:
I foresee the FG blocking the website from operating in Nigeria very soon.

BE WISE