There are indications that EFCC may not be able to go after MMM promoters as they see
them as people going about their own personal and private business which is not illegal. According to report from a source in EFCC, MMM is not an unlawful business as such we cannot go after the promoters of MMM. Our questions to the National Assembly is ” What are we going to charge the promoters of MMM for? What law have they violated? What money has the system
stolen?. All these and many more are questions that we need to consider before
taking any actions. MMM does not have any office in the country where we can go and
ask for details about their activities. So our hands are tight. The source also went further to state that people who participate in MMM are doing so at their own risk. As such they would have themselves to blame for any negative outcome. It is not for us to tell them what to do with their money. Just as we do not stop
people form investing on any legal business venture, we can not stop people from participating in MMM.
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The federal government of Nigeria is taking
moves to shut down MMM operations in
Nigeria. Speaking at the 2016 Lagos
International Trade Fair, the managing director
of the Nigeria Deposit Insurance Corporation
(NDIC), Alhaji Umaru Ibrahim, said that
regulators have set up a committee to see the
end of the nefarious activities of the ‘fraudsters’
across the country.Read more http://www.smartsweb.com/2016/11/09/fg-set-stop-mmm-nigeria

Joshua Okpo, the Rector of Maritime Academy of Nigeria (MAN) in Oron, Akwa Ibom State is dead.
He reportedly died of heart attack.
Recall that Minister of Transportation, Rotimi Amaechi, a few weeks ago ordered the probe of the accounts of the Academy and the tenure of its Rector over the N18 billion released to the institution.
The Rector, it was gathered, incurred the Minister’s wrath when he accused the Nigerian Maritime Administration and Safety Agency (NIMASA) of starving the academy of funds. The Minister, it was learnt, summoned the Acting Director-General of NIMASA, Haruna Jauro and demanded explanation as to why the agency was starving the academy of its statutory five per cent funds.
“The NIMASA DG was really shocked by Okpo’s allegation and he explained to the Honourable Minister that NIMASA had regularly released money due to the academy,” a report said. Jauro, it was learnt, also informed the Minister that NIMASA had released more than N18 billion to MAN Oron between 2009 and 2014.
It was at this point that Okpo, who also attended the meeting, confirmed to the Minister that the academy had actually received up to N13 billion since 2011 when he assumed duties as the Rector of the institution, the report added.
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