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House Of Reps Order EFCC To Arrest ‘MMM’ Promoters - Celebrities - Nairaland

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House Of Reps Order EFCC To Arrest ‘MMM’ Promoters by Goldenzeneth: 8:36am On Nov 10, 2016
It is bad news for the promoters of Mavrodi Mondial Moneybox, otherwise known as ‘MMM’ in Nigeria as the House of Representatives on Wednesday, ordered the Economic and Financial Crimes Commission(EFCC) and the Central Bank of Nigeria (CBN) to immediately go after the promoters.

It specifically asked the EFCC to arrest MMM promoters and prosecute them. Most of the lawmakers who added to the discussion opposed the investment scheme and labeled it scam.

MMM gained popularity recently in Nigeria following the current economic recession in the country.

MMM Global has swept across Africa, with branches promising returns on investment of 30 per cent a month in South Africa, Zimbabwe, Nigeria and some east African states.

It is masterminded by the former Russian politician Sergey Mavrodi, who went on the run when the original MMM – standing for Mavrodi Mondial Moneybox – collapsed in the late 1990s, losing investors an estimated $100m.

On its website, MMM Global una

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Re: House Of Reps Order EFCC To Arrest ‘MMM’ Promoters by odogwubiafra: 8:46am On Nov 10, 2016
Useless house of representatives. The poor complained of hunger and starvation, they ignored. Now the rich(bank chiefs) are complaining and they want to victimize the poor and make us die.

A reliable source(PA to one of the banks chief) who is fortunately an MMM participant revealed how his boss complained bitterly to a director in CBN of how the scheme is drying up the deposits(majorly Fixed deposit) in banks.

MMM has done me better than this useless government.

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