harbdulrasaq88:
Tears and wailing on Tuesday as Mavrodians wake up to the gory news of MMM Nigeria, the Ponzi Scheme freezing all money in its system till next year.

This single act, many participants believed may be the end of the Ponzi scheme system which the Central Bank of Nigeria has already cautioned the over 2 million participants to be wary of.

When[url] NEWSHELM.COM[/url] contacted the Customer Unit of the Scheme.... no one seems available to answer queries and several requests on the decision and suspension of withdrawals from the system til January, 2017.

Here are some reactions from the MMM community and what hope lies for them in the Ponzi system this festive season:

http://www.newshelm.com/2016/12/mmm-nigeria-i-am-doomed-i-need-my-money.html

cc lalasticlala

Jakasibo:
If everybody decides to GH help in January who will now pay them when there no PH

Fembleez1:
My own opinion is that, they might eventually not crash yet. If they don't, it is a strategy to get more people to believe in the scheme and after which they've gotten sizeable number of people and enough funds, they will now crash proper. It is a pure Logic that can be understood by anyone, without even taking philosophy or Logic.




I wish i can do it for once if it reopens and run for my life but i prefer to continue with my 1960betting and William Hill than MMM. I go sabi how my money take enter market and any weyrey team wey spoil my ticket.

Annalise:


Bruh.. Banks are not ponzi schemes. They are incorporated companies who have board of directors and shareholders that vote. These are the ways a bank makes money apart from interest: Equity ( shareholders and increase in share prices which increases goodwill and capitalisation), assets like receivables and cash. Sale and leaseback of fixed assets, finance and mortgage transactions, treasury bills and discounted securities, government grants, foreign exchange gains, etc. These are ways that banks are different from ponzi schemes. A ponzi scheme can't create a balance sheet because there are no assets. No liabilities. No equity. The asset is the same as the liability and also the same as the capital. If a bank goes under due to liquidity problems, you look at its assets and start selling them off to pay back investors. You start with the creditors and the shareholders are usually the last because they bare the most risk. If a ponzi scheme goes under, that's the end. No assets to sell, no identifiable creditors. I have never heard of a bank going under and not being able to settle at least, it's creditors. If this happens, then there is extensive fraud in the financial statements and someone usually ends up in prison.

Olubukola16:
Na greed dey kill our people, do once and comot but them no go hear. If you wanna do a thing like that, do something that you won't feel much even if you lose out eventually. Advocates of MMM, sorry o....... If you don't mind, check my signature...... it's very real!!!

obitee69:
Seun is nothing but a pussy.

Sotenna:
Mr. Seun, you can't possibly keep quiet while this is going on, I've noticed right from the onset that negative publicity have always had a free way to the front page. Never have I seen any positive post concerning MMM on the front page, even when you know it's evident this programme has actually helped a lot of nairalanders and Nigerians at large.

Nairaland is a one stop for most computer literate Nigerians for news, information, education and entertainment, so I find it quite disturbing when this place shows any kind of bias towards something so obvious.


I'd sincerely need a reply from you.

Who are you so scared of to this extent?
What were you promised in return if you look the other way?
What happened to being fair and just?

I ask these because the mods must have taken their instructions from someone. If they can get to you then it means we the nairalanders are no longer safe, because they can manipulate us through you.

Sotenna:
Mr. Seun, you can't possibly keep quiet while this is going on, I've noticed right from the onset that negative publicity have always had a free way to the front page. Never have I seen any positive post concerning MMM on the front page, even when you know it's evident this programme has actually helped a lot of nairalanders and Nigerians at large.

Nairaland is a one stop for most computer literate Nigerians for news, information, education and entertainment, so I find it quite disturbing when this place shows any kind of bias towards something so obvious.


I'd sincerely need a reply from you.

Who are you so scared of to this extent?
What were you promised in return if you look the other way?
What happened to being fair and just?

I ask these because the mods must have taken their instructions from someone. If they can get to you then it means we the nairalanders are no longer safe, because they can manipulate us through you.

Donshegxy10:

hello,
how can one verify his William hill account and procedure for opening one

haibe:
Lol i dont do mmm but i know it wont crash yet. As long as u guys don't withraw all ur money in jan without reinvesting.

maasoap:

I
What if the owner or creator had decided to have his bite? Or, don't tell me you never knew he would pack one day and disappear with the mumus money?

handelex:
"This is how MMM crashed in South
Africa. In May, MMM SA announced a
freeze, just like MMM Nigeria did in
December, SA still frozen"....

just saw this on twitter, is it true?

shulamitewoman:
it didn't crash in SA they got it frozen due to many are GH and not PH.. after one month it was lifted.... ask anybody in SA.. stop causing HBP for people

Donshegxy10:

nice write up but from my view I don't think seun and his moderators are biased towards the scheme but rather truthful and enlightening the masses, yes mmm has helped many Nigerians but the truth is that mmm is a ponzi scheme and it will crash someday but WHEN?
that's a big question begging for answer.

Fembleez1:


If you are in Nigeria, I advice you open 1960bet or Nairabet or Bet9ja. A verfication will be sent to your email. Just log-on to their site and proceed by clicking on registration.

Tynasparks:
try

honunlimited:
It's a precautionary measure for sustainability, we coming back massively next year.
MMM for live

ify4king:
I read that after d pause mode was lifted, the system was reset, i.e. everybody started from scratch

Sotenna:


It was written in a plain and simple language. You can go read it yourself.

The programme didn't crash, a kind of pause mode was initiated, this happened last year December too. Why this kind of panic never happened was because only a few knew about MMM then, January everything resumed fine again.

Donshegxy10:

brother I get your point and I quite understand your view, you are right to some extent.
as you said information is power, I think the damage will affect the scheme when it comes back, due to panic.
though i hope it comes up stronger in January.

wowmenow:
All those people who invest in mmm are criminals


They want to rip where they don't sow

izzou:


Iyangbali

Mind yourself