ok

Let them start with their MD's

Dis is wot happen when u vote a clueless man as president

ideology:
It is true some banks started in August.

Not only banks most companies esp the ones managed by Indians and Chinese had already effected 50% slash.

Special thanks to Ngeneukwenu, gbakwe, dropshot, passingshot and Jarus and co

Am waiting for fuel price to increase to 200/litre and $1 = #1000

cc: mizmycoli, tonyebarcanista, temitemi1, mynd44, seun, lalasticlala

don't ever mention that political nobody name on any PDP related news, barcanista is never a PDP member

i need a personal loan ooooo...... 50k to be paid in four months...i do not have a salary bank statement account but we can work out modalities ... please help me ooooo

It will certainly get worse.

Banks this, bank that...there is so much fixation on bank workers meanwhile our industries are groaning...

Which way Nigeria? Which way 2 go?

When shall we the citizens of this potentially great country arise and slash the salaries of our SINators and representaTHIEVES who collect N7 billion from us for doing nothing?
When shall we do that
Or are we really all 200 million mumus as Lagbaja described us?



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Unike1:


Before you add him up and later come here to cry foul please read this short article. It is instructive as it was put together by Securities and Exchange Commission(SEC)

http://sec.gov.ng/the-attention-of-the-securities-and-exchange-commission-nigeria-sec-has-been-drawn-to-the-activities-of-an-online-investment-scheme-tagged-mmm-federal-republic-of-nigeria/

Who makes up SEC?

Opo Jesu ni mo dimu a gbe mi ro dandan.

ask4slimjay:
The MYSTIFIED 30% in MMM. How to Understand It.

THE MYSTIFIED 30% How to understand it.

Look at this illustration, illustration U have 1million naira,U went to the bank And put it in a fixed deposit account With interest of 12% per year. U are happy As u leave the bank

The business man comes And requests to use your 1million for business. Same bank charges him 35% He agreed. Went to do business with your money and makes profit

Pays the bank your 1million +35% At the end of the year you came and collected 12% Who is the fool among the 3?.

Bros, as you explained the bank makes money from issuing loan at 35% and then giving you interest at 12% so the bank makes a profit of 23% on your money, thats how the bank get to survive.
But does MMM ask for interest rate when you ask for help/ withdraw money? If it does not then how can MMM sustain giving you 30% when it does not have where it can source the 30% from.

pls can you clarify where MMM get the money to fund giving you 30% monthly.

Unike1:


Before you add him up and later come here to cry foul please read this short article. It is instructive as it was put together by Securities and Exchange Commission(SEC)

http://sec.gov.ng/the-attention-of-the-securities-and-exchange-commission-nigeria-sec-has-been-drawn-to-the-activities-of-an-online-investment-scheme-tagged-mmm-federal-republic-of-nigeria/

No quick path to riches. MMM is a fraud. And people are promoting it like APC promoted Buhari. Lie ridden.

yes zenith bank already carried that process, 20% down on their salary

mrdan:


Bros, as you explained the bank makes money from issuing loan at 35% and then giving you interest at 12% so the bank makes a profit of 23% on your money, thats how the bank get to survive.
But does MMM ask for interest rate when you ask for help/ withdraw money? If it does not then how can MMM sustain giving you 30% when it does not have where it can source the 30% from.

pls can you clarify where MMM get the money to fund giving you 30% monthly.

They won't explain that one.

Because Steve Mavrodi is Father Theresa.

kennethbetha:
I just heard a disturbing news that commercial banks are embarking on a 30% salary slash of their staff in a bid to reduce cost. Someone from Zenith Bank said they have received correspondence to that effect. Can someone please confirm this?

The so-called salary slash in Zenith Bank was due to tax adjustment.

This had been explained on an earlier thread.

https://www.nairaland.com/3326279/economic-recession-banks-insurance-firms/2#49032009

ask4slimjay:
The MYSTIFIED 30% in MMM. How to Understand It.

THE MYSTIFIED 30% How to understand it.

Its important you all understand this concept so much that you can easily explain it to others.

Let's look at it from this practical point of view,99% of us here have bank account. Right? Good.

We put our money in the bank because we Trust its safe there What do u think is the % of people who put their money in Banks?

Do you know How many % of people in Nigeria has an account with First Bank?

Yes you guess right!

Let's say 70% of Nigerians.

That's about more than 50million Nigerians. And Among these people are

The Poor
Middle class
and Business men
Companies

Among this set of people are those who deposit their money in bank at different intervals
and different amount.

Right?

And they withdraw at different intervals and different amount.

That means If you deposit 200k Another person deposit 1million,Another deposit 2k,Another deposit 500k,Wenever you are withdrawing your 200k, Someone's elsewhere is depositing a huge amounts.

To supplement ur 200k withdrawal. And this circle continued on and on.
And becos of the population of people using the bank and different set of cash and different time of deposit and withdrawal

There is 100% chances that you must get your money withdrawn whenever you need it.

Anytime u go to bank to withdraw money
That's the principle MMM is also using
Its called Crowd Funding.

The power of crowd funding, Banks And all financial institutions use the principle,That's is why the owner of this Banks are filty rich.

Where do you Think Bank Gets money they loan out

( Yes our Money) You evidently give bank your money when you and all those who have account with the bank Crowd Fund(Deposition Remember I want to make this more practical.

Look at this illustration, illustration U have 1million naira,U went to the bank And put it in a fixed deposit account With interest of 12% per year. U are happy As u leave the bank

The business man comes And requests to use your 1million for business. Same bank charges him 35% He agreed. Went to do business with your money and makes profit

Pays the bank your 1million +35% At the end of the year you came and collected 12% Who is the fool among the 3?.

And who is the king?

They all get paid but one of them is the king. The Bank
The B A N K.

Now the bank collects our money. And loan it out to business men and make lots of money to pay d staff and enrich his life. What happens to you the depositor. You get Nothing

Not even 1% of your deposit.

Now MMM says No. Because of this unfair financial system.Sergie Mavrodi thought it necessary to look at the financial system and realized that, Banks survive because of the continuous deposit and withdrawal of cash,At different intervals

And because of the population of people who have an account with the bank. Sergey Mavrodi decided that even bank with that principle can even give us 50% of our money monthly but they won't do it

. The principle of crowd funding enables the bank to even give us more interest on our money monthly and nothing will happen. But because of the unfair financial system in place they will never do it.

He realized that if we can come together. Like those population with bank account example I gave earlier .If We can copy the same principle bank and financial institutions use to flourish, We can do a lot .

All it takes is just the Redistribution of cash flows. And the IDeology in MMM.

The system provides that redistribution.And with a great community with same goal and mindset it can be achieved.

Are you u guys getting where I am heading to?.

Because people deposit at different times Banks lives on

Because people PH in MMM different times. MMM lives on

Because people withdraw in bank at different times. Banks Lives on

Because people GH in MMM different times. MMM lives on

Because of the influx of PH and GH regular PH and GH there will always be 30% to Pay to everyone .

Because of Regular Deposit and Withdrawal at different times and different amount there must always be money to withdraw in banks.

What if everyone match to bank and withdraw their money same time same day what do you think will happen?

Bank will collapse
Same thing in MMM

If every one GH at the same time MMM won't stand for long.

So it's our responsibility to keep this community strong through regular PH and GH.
The same principle Holds Bank and other financial bodies.

And some feeble minds would believe all this you wrote, when you left out the single most important thing

Which is,

When you go to bank to withdraw you money, you dont get 30% extra since No investment gives out 30% monthly. Similarly, No bank charges up to 35% per month. Banks can give you a loan at 28% max. But not for one month but for a year. Which translates to about 2.2% monthly.

Next, people who take loans from bank use it to do business over a long time, (even more than 5yrs), the businesses often produces returns that is used to pay back the loan in installments not at once. If I take 1,000 to plant yam and harvest the yam to sell for 2,000 I can pay my loan.
There is no legal business that will give you 30% in a month for you to pay back principal and interest after 30days. The people who take help do not use the money to do business or anything, they just get 30% extra from another depositor. Which means that money from the people joining or newly providing help is used to pay those who have provided help earlier. Once people don't join no more help for those who provided.

Have you see any bank warning you not to out in money that you can't risk? I guess not!..

Banks are registered with the government which means that even if the banks folds up, the deposit insurance company pays back depositors money, and the central bank will not let banks fall, they simply change their management and inject funds into the bank e.g keystone, mainstreet, Skye etc.

The founder of the platform do not run this in his country. Where he has been investigated several for fraud and tax evasion.

Would you give your daughter to marry a man whose source of income is MMM? If your answer is yes, then by all means continuuu...

mrdan:


Bros, as you explained the bank makes money from issuing loan at 35% and then giving you interest at 12% so the bank makes a profit of 23% on your money, thats how the bank get to survive.
But does MMM ask for interest rate when you ask for help/ withdraw money? If it does not then how can MMM sustain giving you 30% when it does not have where it can source the 30% from.

pls can you clarify where MMM get the money to fund giving you 30% monthly.

I successfully convinced a friend to opt out of this scheme. It was difficult but i made them realize that it will collapse...inevitably. They keep repeating that you do not give your money to anyone and that the money remain in your account and that you pay directly into the account of the person you are providing help and all that crap.
1. What they don't know is the 30% comes from money of a new entrant into the scheme.When this slows down, it collapses
2. The scheme is filled with stooges who from time to time who ask for help. This is where the Ponzi master makes his money from. Eventually, when he feels like making a killing, he will arrange for a number of these people to ask for help, withdraw all the funds and shut down.

It's true but i heard it's for senior staff upward that was affected

Wow!!!! 30% slash?? When MMM is paying 30% interest a month, banks are slashing salaries by 30%, what a twist!! Well no time to check time, my money grows in mavro..if u wan b like me check my signature..




I bounce out

Who move this to front page?
I say who moved this to front page??
Whooooo moved this to front page?
I need to involve EFCC in this.
Why do they think I will help on this salary reduction bullshit when they did not tell me the sweet story of salary increase before?

rychard:



And some feeble minds would believe all this you wrote, when you left out the single most important thing

Which is,

When you go to bank to withdraw you money, you dont get 30% extra since No investment gives out 30% monthly. Similarly, No bank charges up to 35% per month. Banks can give you a loan at 28% max. But not for one month but for a year. Which translates to about 2.2% monthly.

Next, people who take loans from bank use it to do business over a long time, (even more than 5yrs), the businesses often produces returns that is used to pay back the loan in installments not at once. If I take 1,000 to plant yam and harvest the yam to sell for 2,000 I can pay my loan.
There is no legal business that will give you 30% in a month for you to pay back principal and interest after 30days. The people who take help do not use the money to do business or anything, they just get 30% extra from another depositor. Which means that money from the people joining or newly providing help is used to pay those who have provided help earlier. Once people don't join no more help for those who provided.

Have you see any bank warning you not to out in money that you can't risk? I guess not!..

Banks are registered with the government which means that even if the banks folds up, the deposit insurance company pays back depositors money, and the central bank will not let banks fall, they simply change their management and inject funds into the bank e.g keystone, mainstreet, Skye etc.

The founder of the platform do not run this in his country. Where he has been investigated several for fraud and tax evasion.

Would you give your daughter to marry a man whose source of income is MMM? If your answer is yes, then by all means continuuu...

God will bless you infinitely.
You can only advice them, you can't prevent them from been greedy.
Let them read............
And continue............

Hmmmmmm........

MMM....well explained. But how does it make money?...banks as explained makes money from interests.... investing our deposits. If N10M was deposited in a bank.... on it's book I guess the bank can have as much as N10.35M....3.5M being the interest from loans. With the same deposit of 10M.... what would the MMM books be showing?....and where would the monthly fixed interest to customers be coming from? How difference is this MMM from the American Bernie Madoff rip off?...isn't it the same business model?...he also guaranteed a fixed monthly interest. Money in the bank is pretty much guaranteed..... we must get what we put in...is it the same with MMM?....what would prevent MMM from disappearing overnight?...with our deposits? Seeing that you guys are good at explaining...abeg... explain why MMM is not a Ponzi Scheme/Pyramid/Scam.
@topic.... wait until confirmed. In fact... as the naira devalues...salaries across the board are in reality being slashed.

What is MMM you all keep talking about? I hope it's not multi level marketing?

While others are increasing by 10%. Accessbank all d way

Seun:
Well, slashing salaries is better than mass retrenchment.

bro, has your income reduced?