— 15th December 2016

By Adetutu Folasade-Koyi and Oluseye Ojo, Ibadan

For Nigerian subscribers of the Mavrodi Mondial Moneybox (MMM), Chuddy, who is a ’top guider,’ took to his blog, yesterday, and called for calm.

On Monday evening, Sergey Mavrodi penned an open letter, with the title, “One-month freezing of confirmed Mavros,” where he informed subscribers of a pay freeze until January 13, 2017.

“Dear members, as usual, in the New Year season, the system is experiencing heavy workload. Moreover, it has to deal with the constant frenzy provoked by authorities in the mass media.

“The things are still going well; the participants feel calm; everyone gets paid – as you can see there haven’t been any payment delays or other problems yet – but!..it is better to avoid taking risk. Moreover, there are just three weeks left to the New Year.

“On the basis of the above mentioned, therefore, all confirmed Mavros will be frozen for a month…” a part of the letter read.

Yesterday, however, Chudi said two factors necessitated the freeze.

One was the strident opposition from the Federal Government and the mass media. Secondly, Chudi claimed it was because there was “excess panic” in the system, hence the need to halt payments.

“The open letter explains why the one month freeze was implemented. It was to put the Nigerian government and MMM haters to shame. This isn’t the first of its kind. It happens when there are excess panic in the system. It was placed on Zimbabwe and, after the duration, it was lifted. As MMM freezes and goes offline few weeks before Christmas, this idea is brought forward to calm members down on (an) intending threat the federal government and (the) mass media has planned on the system.”

Another MMM participant, who preferred to be called “Alpha Romeo” remains optimistic.

Unlike Chudi, “Alpha Romeo” said the freeze was to weed out bad eggs in the system; those who, rather than allow the scheme grow, preferred to contribute more by using other people’s identities, hence, a panic in the system. “Alpha Romeo” was emphatic that the freeze will be lifted on January 13, 2017.

“I want you to understand that MMM began in November 2015, it saw December 2015 and crossed into 2016. In December 2016, we are faced with many challenges. So many people are running multiple accounts and this is killing the system. They take money from A and pay to B, then C and D without bringing new spare money into the system, thereby shortchanging the system and this has caused a lot of issues.

He described the freeze as a welcome development.

“Be calm, be happy and know that your Mavrodi is safe. The freeze will be lifted in January and those of us who are genuine can GH in peace. By next year, there will be nothing like fake BOP. MMM cares about you.”

But, Casper Ezeagu urged President Muhammadu Buhari to look elsewhere and not at MMM as a criminal scheme. “I think Buhari should be focused. MMM has never been a crime. Please, free us. If you are confused let us know.”

Meanwhile, Director of Development Finance Department of the Central Bank of Nigeria (CBN), Dr Mudashiru Olaitan, has advised those involved in MMM to be careful in finding means of multiplying their income.

He said this during a business leaders’ conference entitled: Prospering in a Recession, organised by EZ37 Solutions held at Kakanfo Inn Conference Centre, Ibadan.

Olaitan, who was represented by the Head of CBN Development Office, Ibadan, Mr. Banji Akinola, said there was no reason Nigerians should invest any scheme that can raise their blood pressure, especially at this period of economic recession. To Williams Ebimobowei, MMM “is not a ponzi scheme. Rather, it is a community of social welfare of providing help and getting same. They just don’t understand the matrix, hence, the confusion of what they don’t understand.

Igo Chris was not swayed. “Ignorance, they say, is a disease.” The truth is that FG doesn’t really know how MMM works, that’s why it is being criticised. MMM came into this country when we needed it most. It’s a succor to Nigerians and I will advice FG to only caution Nigerians to be careful.”

But a man who calls himself ‘Nigerian’ explained how MMM works and warned subscribers not to be fooled about the Mavrodi’s scheme.

“He is not giving anybody money from his pocket. All he is doing is collecting from Mr A and giving to Mr B, then collect from Mr C and give to Mr A. Now the day that Mr D doesn’t ‘request to give help to Mr C that day the system will fail. SIMPLE

The guy is playing on our poverty and ignorance.

As for Buhari, instead of him trying to stop the MMM ponzi scheme, he should concentrate on improving the lives of Nigerians. Because if life was good for Nigerians they wouldn’t engage in such a SCAM (except greedy ones).”

Last week, Mavrodi wrote an open letter to government to justify the importance of the scheme. He also warned government that Nigerians will lose millions if the scheme fails, noting that, “MMM is their only means of livelihood”.

He stated that the money being made from the scheme was being redistributed among Nigerians as a way of “restoring social justice”.

He founded MMM in 1989 but then disappeared after he declared it bankrupt on December 22, 1997. He was on the run until his arrest in 2003.

http://sunnewsonline.com/fg-media-caused-payments-freeze-mmm/

Liars!

This is complete bull crap.

Firstly, you say it was frozen because of govt interference. But you had earlier boasted the govt opposition to the scheme would only make it wax stronger and more successful. You equally said since you have no physical structures, and that members don't pay into any MMM's accounts, there was no way the govt could arrest or stop you from doing it, which we actually accept. So, how come govt is a reason for the freezing?

Secondly, you say there was "excess panic" before the freezing; and in your all-knowing unrivaled sense you think the right thing to do was to freeze GH accounts! Doesn't this action worsen the panicky situation?

If those of you taking part in this madly insane scheme like, take heed, if you like don't take heed, the FACT is that the ponzi scheme is not sustainable and it will SURELY CRASH. It's a matter of WHEN and not IF.

If it happens that your account gets unfrozen by January, just find a way to get out with your money and sanity intact before you're driven to suicide.

I don talk my own ooo.

rozayx5:


i never did MMM
not a fan of ponzi

but at least it helped my struggling relative who lost his bank job .... to offset 3M bills for his rent and kids schools fees and have 1m left ...

so overall it helped a lot of people. but the extra greedy ones who got caught in the freeze are the ones who are biting their fingers

Just as it helped your relateive, it's same way some others elsewhere whose money went to your relatives are crying.

The scheme is like rubbing Paul to pay Peter.

MMM. Nigeria: together we will shortchange the world

i never did MMM
not a fan of ponzi

but at least it helped my struggling relative who lost his bank job .... to offset 3M bills for his rent and kids schools fees and have 1m left ...

so overall it helped a lot of people. but the extra greedy ones who got caught in the freeze are the ones who are biting their fingers

None of my business... Next thread


But a word is a enough for a_______________

g

We dey watch..

PHing we stand divided we fall.......long live MMM

Rubbish excuse

My commiserations goes out to all mavrodians

Is like this guys wanna use the blame on media and FG as escape rout,

After raising the profit to 50% to entice people, they now decide to freeze it

I SMELL SCAM

Tell me something. Honestly, I won't pity anyone one this scheme finally freezes because I warned them...

I laughter

Nice thread op...
The funniest part is that even people that doesn't have money in the system got pained pretty much....

Taking panadol for another man's headache...

Long live mmm.... together we change the world.

No be small thing.
They should stop disturbing us with this MMM stories.

My money dey dia oo...
make una stop all this FG excuse.
January...come quick..
I hope ain't gonna be here waiting forever.
whatever happens ,I dey gidigba.
And If it start running, I dey do am dey go.

They haven't said what we don't already know.

Y'all should give it a rest already.

Now everyone that participated in MMM is complaining except the first guider. Even my friend that bought lexus 330 with money from the Scheme, is still complaining.


So where are the people that benefited?

These people never get sense?

foolish people.they didnt blame fedral govt when they were collecting ppl's money.

I blame greedy,gullible,credulous and criminally-minded nigerians for their stupidity

MMM

To the participants sorry guys, y'all must have learnt one or two lessons from this so it's time to move on. MMM is gone.

wether the scheme has packed up or not....that is for the future to tell. I believe everyone who went into it knew the risks and was well aware it was/will fizzle out someday. however, contrary to what many people taunting think, mmm really was a saving grace to a great deal of those who went into it....most participants had already gone past their initial starting deposits in profits they made! I know not less than 5 people personally who's lives have changed positively for the better. I think the matter of mmm should be left to rest....and if ever it picks up again, anyone who wishes to continue taking the risk should be left to do so....life is all about personal choices.

As always, I would comment on contemporary issues that affect the Nigerian populace. All for love of Nigeria. Even though I believe that Nigeria as it stands is close to a failed state, we can all do more through visionary leadership to emancipate our country from the cesspit that has gutted it. That said, I have followed closely the MMM phenomenon since it came to my attention, and as it is normal of my analytical mind, I have taken time to study the trend, review historical facts, and all other data available to me. After this review I have therefore, come to the following conclusions on the fate of MMM.

1. For those that are hoping MMM would suddenly resurface in January because the Nigerian planter's wife said so in a note, are definitely setting themselves up for depression. Nothing of such would happen. This is the deal, MMM is not an investment it is a gamble. The money is only redistributed therefore the system would crash when two conditions occur - something that has already taken place - and these conditions are as follows:

-When new comers or "help providers" exceeds those who want to receive "help" it sets the stage for a crash

-When those withdrawing exceeds a critical amount needed to keep it rolling regardless of the number of people joining, then the system would crash.

I believe these two conditions have been met. Christmas time is a time no one wants to give money, rather they want to be helped, with the overwhelming withdrawals that far exceeded the "help providers" the system had to be shut down, because money does not grow on trees.

2. If MMM ever have a blinker to open, which I doubt very much in January as stated in their later, there would be a state of panic withdrawals, and there would be sharp decline of the new people that would have otherwise joined. This panic withdrawals, would lead the MMM handlers to shut it down completely and take with them whatever is left of the system.

3. The other reason MMM had to shut down early December is more likely than not to ensure maximum "cash outs" by the handlers. At this time there is an all time high of money in the system because people put in most of what they had to ensure they get good cash for the Christmas, this high would not happen any other time of the year, so this was the best time for the handlers to cash out big, and I believe they already did.

Finally, the MMM phenomenon further shows the failed system of Nigeria. This system only flourishes in this magnitude in failed countries. It thrived in Russia during the collapse of the Soviet Union, failed Zimbabwe, thrived in failed parts of South Africa, like Soweto. People have lost hope in any decent labor or lack of jobs thereof. Other are greedy and sometimes plain dumb.

Good luck to everyone "waiting" in trepidation to get help. I wish you luck.

God Bless the Federal Republic of Nigeria

-CramJones

mavrodians right now

The MMM Administrators sound desperate to Impress

,

i pity these prawns!!

I said it .

Dear Nairalanders, compare what was written above to the message MMM sent to South Africa in May when the same freeze happened.

Leopantro:
"Dear participants!

Unfortunately, the persecution against MMM organized by the mass media has provoked a panic. We have been working in South Africa for almost 2 years and we have millions of members. During all that time, we had no complaints and accusations from participants, everything was paid to everyone in time and in full amount, by 30% per month. We held charity events and helped children. We did a lot of useful things for people! Well, who was suffering from this?



"The government and the adherents of the current unjust financial system. That is why they planned and brought all these crazy investigations and persecution in the mass media. “The only thing which prevents the investigation is the fact that non of the participants reported to the police”. If there are no complaints, and everybody is happy, then what is the investigation for? What is the subject? Did not they understand the consequences? Did not they understand that their irresponsible actions would hurt people? Millions of people! Well, try oppressing any bank, even the most reliable one, in the same way, and see what will happen tomorrow.

"However, it is futile to explain that to them. MMM prevents banks from robbing people, that is the only reason why all this is happening. And nobody cares about people. If we managed to pay millions of participants 30% per month for two years (and would still be paying, if the mass media and government did not lie about MMM!), why do banks not do the same? Why do they offer only a few percents a year? Make your own conclusions. Thought everything is clear right now. You are simply robbed, we have always been saying it. The modern financial system is predatory by nature. It is not for ordinary people, it is for the bankers. Its purpose is financial slavery! And it achieves this purpose perfectly. In general, in this situation, we have to start all over again. We have no choice. You can see on your own what is happening.


Hence,

The current (“old”) Mavros are frozen. Any operations with them are impossible. With the development of the system, we will send 10% of the total inflow (of all the PHs) to pay for the “old” Mavro. According to the experience of other countries, we can definitely say that in the normal course of events, all the old Mavro debts will be paid off in about six months.

“New” Mavros (Mavro bought from the moment of this announcement) are introduced. You can use them on a common basis: to ‘acquire’ and ‘withdraw’ them at any time. All of this, of course, is not very nice, but it’s not the end of the world. We will quickly pay off “old” Mavro debts, no doubt about it. You just have to wait. (And anyway, you can thank your precious media and government for this “gift”!). The best thing you can do is just to start participating again, that is all. And you will quickly return everything, even with a benefit. Moreover, now is the most favorable time to participate and invite: in fact, everything starts from the beginning. So do not miss your chance! :-))
We hope for your understanding.
Administration."

Non participants of mmm been jealous of mmm participants, wishing and praying for the system to crash. Well bad news for you this morning. Stop wearing CONDOM on top person DICK.