Seun , many did not register in MMM (I inclusive). Many did, some made profit, some just started this December, paid to but never received.

Seun , stop the front page info about MMM. Many are in tears(anger) about what this Christmas would be for them and their family.

Some read topics about MMM here, they would have heartache, increased blood pressure.

Seun , many did not register to MMM, but we should sympathize with those who are angry, unhappy.

Transferred anger is possible. Those affected be vengeful on unwitting honest people.

Seun , reduce the frequency of MMM topics on this forum for the sympathy sake.
Thank you.

NextGovernor:
Best way to grace front page now is "MMM"

Once u say MMM is mad, Seun will put it on front page. Lol.

I warned my girlfriend, family members and friends not to invest in any of these Schemes. If you are brilliant you ought to know it won't last, not genuine and you can be trapped at anytime. So why taking the risk?

Those shouting it's coming back January how are they going to pay you? You think someone in his right senses will provide help to you when they aren't guarantee of getting the help back?

MMM has crash. Take it or leave it.

why you de take panadol for another man headache?

Smh.... Greed everywhere!!!!

tola09:
*WORD FOR THOUGHT, HELP CIRCULATE IT*You got into many relationships that never worked, and no one is mocking you in public. Yougot into a marriage that crashed, yet your friends are not on facebook celebrating your pain, and you haven't killed yourself yet. Your many attempts at businesses have failed and you lost money, yet you are still alive. You have taken many risks that never paid off, yet you are still moving on with hope.Now you advised your friend not to do MMM, but he went for it anyways. MMM is frozen for 30days, at least so we heard, and you find joy in taking to facebook to mock your friend JUST TO BE PROVED RIGHT. Same way you pray for the failure of the government you didn't vote for JUST TO BE PROVED RIGHT.I have taken time to read the MMM freezing report, it is a shame that you have decided to take that report out of context, add salt and pepper, just to cause panic and unnecessary tension. Many people have fainted because they read your false version of MMM story. Will you also celebrate on facebook if they commit suicide tomorrow on account of your mockery?Even if they were careless in taking risk with MMM, must you add to their sorrow?Don't you have any conscience sire? Are you not a hypocrite?If that young man came to you for help, even to borrow money before MMM, would you have given him? How many of you have helped poor people the way MMM has in the last year(i speak based on the testimonies in the mouth of Nigerians). In October i met a young man in Port Harcourt who moved from someone's house as a squatter to a one-bedroom apartment and i still remember the joy with which He glorified God for MMM. How many people have glorified God for your help and support, STINGY YOU!There is a high level of moral bankruptcy in this nation. People are more willingto celebrate the pains of fellow Nigerians than anything else. It is the same reason they go to accident scenes, and their first impulse is not to help but snap and post gorry pictures on facebook to extract AMEN from people.If you know you have never done things that failed in your life, then continue mocking your MMM friends.......And for the record, MMM has not crashed, it's still alive well.

Robbing Peter to pay Paul sounds like help to you ?
Do you also know how many people have lost their life savings from it ?
You made money from it at the expense of others. You rejoice while others shed tears.
For the record: many people have died as a result of your noble scheme.

My 400000k

wins18:
This one na double wahala for dead body, this xmas no go be a happy one for some people,
be warned! know how you say happy xmas to people, because you dont know who is affected by mmm.

Thank you.

The problem here is misinformation, not MMM crashing, and sadly enough, most MMM participants do not even understand what the freeze is about.

Normally when you pay in or provide help, your investment is frozen for two weeks, after which you're eligible to withdraw, but they decided that because of the Xmas rush they should extend that freeze period to one month, so people can only request for money only after a month of confirmed payment, (this one month period is relative to when anyone makes his/her payment, and not a unified one month period: eg. If I make a confirmed payment on the 2nd of December, my one month period will last till the 2nd of January, after which I can withdraw, and if another person makes a confirmed payment on the 7th of December, his one month period will elapse on the 7th of January, after which he can withdraw) so, I am actually surprised why people are making up all these news to scare others, even the MMM participants who never had any reason to complain about the usual two weeks freeze period...Is it because they said the new system will last until second week of January? It only means that freezing period of one complete month will continue to be in practice until second week of January, and not that nobody can withdraw until second week of January.

Please I haven't benefited from MMM (not yet though) , so, I think my insight on the issue isn't biased.

DJBIGGY:
what of bankers who use customer money without their knowledge to do MMM? They should be jailed!

Thank you.

The problem here is misinformation, not MMM crashing, and sadly enough, most MMM participants do not even understand what the freeze is about.

Normally when you pay in or provide help, your investment is frozen for two weeks, after which you're eligible to withdraw, but they decided that because of the Xmas rush they should extend that freeze period to one month, so people can only request for money only after a month of confirmed payment, (this one month period is relative to when anyone makes his/her payment, and not a unified one month period: eg. If I make a confirmed payment on the 2nd of December, my one month period will last till the 2nd of January, after which I can withdraw, and if another person makes a confirmed payment on the 7th of December, his one month period will elapse on the 7th of January, after which he can withdraw) so, I am actually surprised why people are making up all these news to scare others, even the MMM participants who never had any reason to complain about the usual two weeks freeze period...Is it because they said the new system will last until second week of January? It only means that freezing period of one complete month will continue to be in practice until second week of January, and not that nobody can withdraw until second week of January.

Please I haven't benefited from MMM (not yet though) , so, I think my insight on the issue isn't biased.

softwerk:
And reward those that have made some cool millions for the customers?!

Making cool millions at the expense of other poverty impoverished individuals! God de...

suremossty:
Thank you.

The problem here is misinformation, not MMM crashing, and sadly enough, most MMM participants do not even understand what the freeze is about.

Normally when you pay in or provide help, your investment is frozen for two weeks, after which you're eligible to withdraw, but they decided that because of the Xmas rush they should extend that freeze period to one month, so people can only request for money only after a month of confirmed payment, (this one month period is relative to when anyone makes his/her payment, and not a unified one month period: eg. If I make a confirmed payment on the 2nd of December, my one month period will last till the 2nd of January, after which I can withdraw, and if another person makes a confirmed payment on the 7th of December, his one month period will elapse on the 7th of January, after which he can withdraw) so, I am actually surprised why people are making up all these news to scare others, even the MMM participants who never had any reason to complain about the usual two weeks freeze period...Is it because they said the new system will last until second week of January? It only means that freezing period of one complete month will continue to be in practice until second week of January, and not that nobody can withdraw until second week of January.

Please I haven't benefited from MMM (not yet though) , so, I think my insight on the issue isn't biased.

don't mind people, the problem with many Nigerians is that they can't read between the lines. Those who are shouting aren't the participants but those who wish them bad and who have been looking for avenues to make jest of the participants. I've even decided not to read any trend on MMM again.

tola09:
*WORD FOR THOUGHT, HELP CIRCULATE IT*You got into many relationships that never worked, and no one is mocking you in public. Yougot into a marriage that crashed, yet your friends are not on facebook celebrating your pain, and you haven't killed yourself yet. Your many attempts at businesses have failed and you lost money, yet you are still alive. You have taken many risks that never paid off, yet you are still moving on with hope.Now you advised your friend not to do MMM, but he went for it anyways. MMM is frozen for 30days, at least so we heard, and you find joy in taking to facebook to mock your friend JUST TO BE PROVED RIGHT. Same way you pray for the failure of the government you didn't vote for JUST TO BE PROVED RIGHT.I have taken time to read the MMM freezing report, it is a shame that you have decided to take that report out of context, add salt and pepper, just to cause panic and unnecessary tension. Many people have fainted because they read your false version of MMM story. Will you also celebrate on facebook if they commit suicide tomorrow on account of your mockery?Even if they were careless in taking risk with MMM, must you add to their sorrow?Don't you have any conscience sire? Are you not a hypocrite?If that young man came to you for help, even to borrow money before MMM, would you have given him? How many of you have helped poor people the way MMM has in the last year(i speak based on the testimonies in the mouth of Nigerians). In October i met a young man in Port Harcourt who moved from someone's house as a squatter to a one-bedroom apartment and i still remember the joy with which He glorified God for MMM. How many people have glorified God for your help and support, STINGY YOU!There is a high level of moral bankruptcy in this nation. People are more willingto celebrate the pains of fellow Nigerians than anything else. It is the same reason they go to accident scenes, and their first impulse is not to help but snap and post gorry pictures on facebook to extract AMEN from people.If you know you have never done things that failed in your life, then continue mocking your MMM friends.......And for the record, MMM has not crashed, it's still alive well.

Nice, though you tried as much as possible to sound as if you didn't take part in the scheme but it's obvious you either did or someone very close to you did, whichever case, I pray all will be well. However, there is a point I wish to emphasise, the level of stupidity of those (especially the educated ones) that participate in the scheme is what keeps baffling me: Firstly, from research, no scheme of such ever lasted for more than two year in history and MMM is close to that. Secondly, the wonderbanks saga issue is less than a decade ago and I am sure many who partook in this present scheme were not too young then to know how it ended. Thirdly, there had never been a prior warning from the government against any scheme like the one we had against this so called MMM, yet my people turned a deaf ear. Fourthly, what is the credibility of the founder of the scheme? (highly questionable). Even if the account is unfreeze in Jan., fear of this current freezing will make many withdraw. lastly, as you stated, trully few might have become millionaires via this scheme, what about those who will be further impoverished if otherwise? Am not against people taking risks but there are some risks that are not worthy of being taken. I PRAY GOD INTERVENES SO THE ACCOUNT IS UNFREEZE IN JANUARY.

https://www.youtube.com/watch?v=0oXuaKNUccg

MMM Global Scam

AnonyNymous:

See guy abeg. . .this one is in no way similar to the examples you listed. This MMM nonsense is a way of trying to reap where you didn't sow, which is already wrong from the start. At least for failed marriages, people put in their effort and did things. Failed business involves you using your hands/brain to work. But bullsh*t like MMM is basically defrauding people while lying to yourself and your conscience that its 'mutual help'. MMM fr the start is a 'robbing Peter to pay Paul kind of business, so if you want to list the examples of people that have done successful things because of the money they 'earned' from MMM, then what will you say about the people that the money was 'stolen' from to make those dreams a reality?? MMM is for greedy people that want free money, that want to chop another man's sweat, and that's why I'm happy its gone. I can never support it because its a terrible way to make money. If you have gained just 1 kobo from MMM, you are partially responsible for the deaths of all the people that will commit suicide because it crashed. So take your nonsense and go. *spits*

You think u made sense but u are very ignorant about how MMM works. Have u researched the platform very well b4 arriving at your postulation that peter is been robbed to pay paul? Common stop spitting what u don't know and do more research......Thank you

The most interesting news in Nigeria now is MMM and Fayose matter , people are willing to pass there comments on those two matter whenever they see any post credited to them. Nigerian why

First bank Asaba: is already sacking,39 to receive their dismissal letter today!

*COPIED*

Ubokobong Udeme Akpan nailed it with this piece. Aniekan Inock says it the end or beginning of some sense...

...it's long but revealing

BETWEEN PONZI SCHEME AND FRACTIONAL RESERVE LENDING POLICY: A CASE FOR MMM AND OTHER MUTUAL AID (PEER-TO-PEER DONATION) SCHEMES.

I would start by saying I am an ardent student in the subject of money and currency (Yes, they aren't the same). From the creeping into America's lexicon of "war is profitable" and the severing of dollar from gold by President Nixon (that set a new standard of fiat currencies for the rest of the world), I read about and crave money devotionally. Since I love the subject of money and currency, I had to do my study into the two subjects above. This became necessary as the words "ponzi scheme" first landed on the Nigerian mainstream terrain, an event that coincided with the arrival of MMM 2011.

We hear a lot of publicity about the danger of MMM, about how it is a "ponzi scheme", they keep saying; and how it is doomed to crash. Funnily, I hear these narratives from people who are hurt first hand by the mere existence of this economic bandage from Russia, and also from people whom this scheme is designed to liberate from and assuage their poor standard of living. So I concluded that the rich and powerful are as rich and powerful because the others are lazy and ignorant. That I'm very sure of.

I digressed.

My simple litmus test to ascertain if any antic against MMM is really a decision based on knowledge and research, or simply a "masses reasoning" that exists for the rich and powerful to exploit: I try to engage people in a debate comparing fractional reserve lending legally practiced by financial institutions and the ponzi scheme of Sergei Mavrodi and other Robin Hoods. 99% of the time, they test very blue: they've never even heard of Fractional Reserve Lending, and they first heard the words "ponzi scheme" from Linda Ikeji Blog or Premium Times.

So what exactly is a ponzi scheme? And does MMM really fit as one? I am asking you!

My attempt: I'll spare you the dictionary definition. You can find that with a quick Google search. An analogy that attempts to describe it (one the authorities and other critics have used to describe MMM), because it is the least "jargonless", is simply ROBBING PETER TO PAY PAUL. But that definition falls flat in the face of mutual consent between Peter and Paul. No one is being robbed. Today Paul takes from the pool Peter also contributed into, tomorrow Peter does. Sounds more like very sophisticated "Osusu". Very sophisticated. Since I'm not an expert, pardon my non comprehensive elaboration. But I think its conciseness fits the context.

So how about Fractional Reserve Lending. It's simply a policy that allows a commercial bank to just keep a fraction of the deposit it claims to hold, and is able to use the other in other ventures that are not fully risk-proof; like give out a loan to individuals or government, invest in capital projects or whatever. In other words, Customer A takes N100k to "Second Bank of Nigeria". He gets some sort of digital receipt in the form of a balance back to his home. The law of Fractional Reserve Lending allows the bank to keep just a percentage of that N100k (usually 10%) and engage the other in trade. So Second Bank of Nigeria can then go ahead to give out N90k as loan to Customer B. So customer A has digital receipts, Customer B has N90k in hand. That is 190k in existence without any interest, without any genius from any banker, without any sweat from any marketer. Just the law.

Let's pull both concepts towards a meeting vanishing point. The concept of Ponzi Schemes and Fractional Reserve Lending allows artificial currency to be created into a system. 30% extra Mavros; N100k final balance in an account. Both of these can be converted to cash. You either GH or you communicate with your bank to pay you.

So, the obvious question arises: how are those extra derivatives we created from the ponzi scheme and fractional reserve lending accommodated? The simple answer is that everyone won't go to the bank the same day. Today it's Peter, tomorrow it's Paul. If Paul and Peter go the same day, MMM or Second Bank of Nigeria crashes. That simple.

So if they are so similar, why is one embraced and the other is considered legally and morally criminal?

Let's go back to the illustration. Customer B deposits his 90k in Second Bank for a while or simply takes it to "Gitib Bank". Gitib Bank replicates the process and are able to keep just N9k and loan out N81k to another customer, C. Already N271k has been generated from just 100k physically circulating. The rest are just numbers in computers. Only one person has N100k, two other people owe the banks N171k. Imagine!

Maybe they all loan at a generous interest rate of 5% pa (which never happens). Do the math on the derivatives these banks can create from mere "keeping" of people's currency. Even without any interest on the ricocheted use of people's deposits, those guys will smile to the bank. Oh! They are already at the bank. My bad.

Secondarily, money supply increases, inflation sets in, the keke guy has to work harder to afford the life he lived earlier with less resources and stress. All while some Agbaje or Adenuga guy smiles at his billions made "legally."

Then came Sergei Mavrodi with his concept of creating this pool of increased currency supply, but designed not to benefit him, but to benefit the masses. Not the big owners. Not the government who feed on taxes and can't do anything to hurt compliers. Then came MMM.

If you didn't know this already and was busy criticising, I hope this will help you understand why the huge PR efforts to discredit MMM and dissuade your involvement in it. And I hope you now know that those guys had what they were fighting for, and you didn't. You were just an egotistic opinionist who didn't even know where the gun barrel was pointing. I hope too you realise how foolish you've been all the while.

In conclusion, MMM is actually your friend that you threw out. The real ponzi scheme is the bank. They won't even give you loan to plant a plot, they don't go any extra length to add value to you. It's all business for them. The government is their accomplice and we all know they are worse. Like Sergei asked, "if you know what is right for people, why is the life so bad in the country?"

If a Senator that does not care about your dilapidated learning infrastructure, where you have to go out from and compete in the same market space with folks from Norway and China, if they don't care about your near zero healthcare, why do you suddenly think that they will care about where your business risks lie? How could you be so foolish? The other day I landed in a chat room with folks that are deeply into cryptocurrency and are in far away Europe, and I began to really feel the impact of NOT having power 20 hours out of 24 in the 27 years I've been alive; of taking GST classes in a hall crammed to varendah, under a lecturer who does not even know me; of having to buy internet bundles at exploitative prices and still having to move from kitchen to varendah in search of signal to connect Google. I felt like an illiterate with no hope.

Yet those guys who are benefiting from this ruin want to advise me how to keep my hard-earned money. God punish you guys! I stand with MMM through the trying time. I just PHed 50k. I'll gladly pay that into the system and not expect return if that's the cost of finding its balance again. #IStandWithMavrodi!

Jyde81:
You think u made sense but u are very ignorant about how MMM works. Have u researched the platform very well b4 arriving at your postulation that peter is been robbed to pay paul? Common stop spitting what u don't know and do more research......Thank you

Lol, you guys still choose to remain delusional. So where is the 'magical' 30% coming from? What work are you doing, what good are you selling/service are you rendering? At least banks make money from the spread in exchange rates and interest from loans. Where is your own money coming from? No matter how you want to look at it, there is absolutely NO WAY to sustain members collecting 30% of their 'investment' without a lot of people eventually losing at the end. MMM is for greedy people like you that want free money. The fact is that nothing in life is free, and when you get something free then someone else is paying the price.

Why are people so crazy over this mmm scam

PROGRAMME OFFICER

PMC LTD is a Canadian based NGO with offices in Africa,we partner with SAB (Scientific Advisory Board) and ACDC (American Center for Disease Control). We are currently searching for vibrant,intelligent and energetic youths in Nigeria to end poverty in Africa. At the heart of this vision is the transformation of the lives of people who live in poverty, empowering them to have a brighter future. PMC LTD works in more than 30 countries and has been operating in Nigeria since 2003. The Nigeria Country programme focuses on poverty eradication, Community Health and, Accountable Governance including humanitarian response and Gender equity.

BASIC INCENTIVES

* Every successful candidate after the screening exercise will be trained if qualified the candidate will be eligible for an international training in either South Africa, Dubai, or California
* Each candidate during the training will receive monthly bonuses after which will be placed on a progressive salary, with various allowances .
* Successful candidates will enjoy time flexibility during and after the training exercise

About the Role.

Every candidate will pass through a written and oral interview session after which each successful candidate will be trained courtesy of SAB and ACDC. This training empowers the individual to live beyond poverty and create lasting wealth through people management regardless of gender, age or other dimension of diversity .

JOB REQUIREMENTS

MIN REQUIRED EXPERIENCE:

1 year

MIN QUALIFICATION:

Bachelor's Degree/HND

DESIRED COURSES:

Not Specified

LOCATION :

Rivers State. (Surrounding States also acceptable)

OTHER REQUIREMENTS:

About You

You must have a 1st degree in Social Science or development related field with at least 1 year experience with a local or an international based NGO as well as strong writing, analytical and documentation skills.
A good knowledge of programme management, financial controls and procedures as well as direct experience of developing partners capacity is an added advantage.

Further information

This role requires applicants to work in the state where this position is based.

We value diversity and aspire to reflect this in our workforce. We welcome applications from people from all sections of the community, irrespective of race, colour, gender, age, sexual orientation, religion or belief.

You can expect a wide range of rewards, benefits,and flexibility that will ensure you enjoy a good work/life balance.

Competency questions

As part of your application you will be asked to demonstrate your suitability by giving answers to the following questions:

Build partnerships

Tell us about a time when you were proactive in taking on new and additional work to achieve a team or organisational goal: What was the situation? What was the new/additional work? What was your task? What did you do? What was the outcome? What was the impact of what you did?

Communicate effectively

Give us an example of a time when you communicated something complex in a way that could be easily understood by others: What was the situation? What did you need to communicate effectively? How did you make sure the message was understood by others? What was the impact? How did you know you were successful?

Steward resources

Please tell us about a time when you were able to take action to end or reduce the inefficient use of resources: What was the context? What was expected of you? What action(s) did you take? What was the impact of your actions? In what way(s) were you successful?

Interested persons should pls forward their CV's to workforceng2016@gmail.com
And / call these numbers for enquiry.
07031513680

Nigerian Banking is sector is hardly the best place to grow your career