₦airaland Forum

sarrki:
Now I see hmmmmm

Why enemies of state are frustrated this days

1) collapsed of MMM

2) Recovery of looted funds

All this are more than enough to frustrate one.

They will come and be chanting she's not corrupt

Gej ruined our economy greatly

Only God can forgive him

tiri gbosa for you, all those condemning your comment are enemies of the state. They are just bitter that their hero "the ineffectual buffoon" was booted out of power, Shame on to the promoters of corruption and also shame on to the wailing wailers. Nigeria will surly be great

Hmmm

Igbos will prefer Hausa fulani to Biafran, just as they preferred Yar'adua to Ojukwu. Igbos! you are your own problem. Go and solve your problem

NafeesaAA:
Bukar is a name domiciled in Borno and Kano

are you from Borno or Kano?

[s]

Mouthgag:
[s]
Rubbish!

Joblessness at its peak.

99.9% of mmm participants already know some of this nonsense and have made up their mind.
Use your time for something productive. Leave mmm alone.

Mind you, mmm is still marching people to pay. The decision remains yours to pay or not.
Pay if you hopeful...
Don't pay if you are skeptical.

The issue is just that, many people will forfeit their mavro. Imagine you're asked to PH 10k and you have 500k in your mavro...
P.S, don't tell me the 500k has no value.... Don’t Tell me what I know.

[/s]

The Central Bank of Nigeria (CBN) recently warned citizens to beware of trading in virtual currencies such as bitcoin, ripples and litecoin. Its warning was in apparent response to the reappearance of Mavrodi Mondial Moneybox (MMM) Ponzi scheme on January 13, after it abruptly froze its account in December last year.  CBN said, “The attention of the banks and other financial institution is hereby drawn to the above risks and you are required to take the following actions pending substantive regulation or decision by the CBN.  Ensure that you do not use, hold, trade and/or transact in any way in virtual currencies.”

Religious organizations also issued warnings against MMM.  Islamic scholars for example said it is haram.  The Redeemed Christian Church of God also warned its members earlier this month against participating in MMM. RCCG’s General Secretary Pastor Johnson Odesola wrote in a memo, “Please be informed that the doctrine of the church does not support get rich quick schemes, gambling, betting etc in any form.  God is and remains our supplier by the application of biblical principles of working diligently with our hands.” 

Despite these warnings from temporal and spiritual authorities, Nigerian participants in MMM are bent on trying their luck in the get rich quick scheme. When they gain money, they hold that up as a validation of the scheme.  When they lose money, they find neat ways to explain it.  This isn’t unconnected with the fact that MMM employs many ways to explain the dubious Ponzi scheme to the gullible. For example, when it returned to Nigeria, MMM claimed that it would now use bitcoin.  The announcement was a clever tactic to piggyback on the rising profile of bitcoin, a virtual currency that was hitherto more popular among online pirates. But their main marketing technique is to get the participants - their victims - to take ownership of the scheme and sell it to more prospects with similar greed and emotional composition.  It is the reason why they give extra points to members who create testimonial videos.

However, Nigerians may pay attention if they know the background of MMM’s founder, no matter their gullibility, appetite for quick cash or uncritical mindset. Sergey Panteleevich Mavrodi is a Russian criminal.  Born in 1955, Mavrodi first established MMM series of pyramid schemes in 1989.  Later, he became a fugitive and was finally convicted in 2007 by a Russian court for defrauding 10,000 people of 4.3 million dollars.  The court sentenced him to four and a half years in penal colony and fined him 10,000 rubles ($390).

Mavrodi’s term in prison didn’t reform him as he returned in 2011 with another version of the pyramid scheme called MMM-2011.  But he is wiser now; as pyramid schemes aren’t illegal under Russian law, he was more truthful.  He declared that, “It is a naked scheme, nothing more ... People interact with each other and give each other money. For no reason!” Yet, a little over a year later, he froze the account and announced that there would be no more payouts! That didn’t stop him from branching into India, China and in September 2015, he forayed into South Africa where he promised 1% interest every day or 30% per month. In 2016, he opened shop in Zimbabwe and etched his footprints in Nigeria, sweeping his roving hands across the bank accounts of greedy Nigerians.

It would appear CBN is struggling to find the appropriate laws to use in declaring the scheme illegal and to also use for possible prosecution of the promoters. This is exactly the position the United States found itself in when Mavrodi ran Stock Generation in that country from 1998 to 2000. First, a district court found that U.S. Securities and Exchange Commission couldn’t establish that SG committed any securities violations. But in 2001, the United States Court of Appeals reversed that decision and in 2003, SEC obtained a permanent injunction against Stock Generation. Nigerian authorities should copy this example. Some Nigerians must be protected from themselves.

Cc; lalasticlala mynd44

http://www.dailytrust.com.ng/news/editorial/the-poison-that-is-mmm/182789.html

deb303:
he can also kill me when he is drunk... Bye bye to him o

why do i keep staring at your chest?

PaulCI:
Once an Aboki, always an Aboki!

And before you say aboki means 'friend'. I know. But hey, we also know what the rest of us really mean wen we use the word Aboki. Well that second meaning is what i imply here. The wise ones know.

Aboki!!!

ewu gambia

neonly:
I don't like anything from d north period

go and hang yourself. Ipob tout

Mtseew, and na them de enjoy the sex pass

FFK is on his own, he talks like a drunk. He is even referring to himself as tiger/lion, he needs to visit the kuje prison for the second time

mikkypel:
Xvideos.com

Are you a porn star?

TVTKOKO:
pele o.. Congrats

Thanks o

ajalawole:
the ref self no help matter.

make chelsea just win their match

ajalawole:
oh bruh, i no go carry assenal for my game again. Supporting them is just too risky

i almost defecated

TVTKOKO:
Dat amala go choke you aswear

meanwhile, will be smiling to the bank tomorrow. i am a Blue fan

eating hot amala with draw soup. make i go buy cold coke to step am down

My ticket don set, smiling to the bank tomorrow. over 1.5

ajalawole:
ha. Na 1 i carry ooo

one sef de ok, na 2 slips i get

ajalawole:
amen in Jesus name. Make my bet9ja ticket enter. But we are chelsea

na so o, 2 goals for this match don do me

Nobody even send am, attention seeking miscreant

jrusky:
Please No wonder what Are you alright

So bro for this man hustling and not begging is that why zoo talk came up Please I need to check your profile I need to know who you are your statement is not very nice one I expect you to praise this man for his courage but see what you posted above this is so pathetic and out of point.

Why did you lack human sympathy A man in this condition still fighting his way to survive and this all you have to say I'm so ashamed of you.

forget that boy, na small pikin de worry am.

EdegbeLine:
He can't be either of them, he is both.

he is both and a bigot

EdegbeLine:
They here with your negative thoughts about this govt.

Your mates enrolled for npower program and right now they have started collecting their stipends. is that also lies??

no mind her.

tit:
Bigot.
Simple produce small electrocity electricity
You are here blowing hot air
Is it rocket science?

you just carry tit for front, and can't even spell electricity.

The driver should atleast have little respect for constituted authority, no matter what

Igbos been looking for who will help them since 500BC, thy will continue to remain in this zoo with us whether they like it or not...

When I told someone that sambisa is bigger than enugu, some were throwing insult

babajero:
why are you pained, you started the cursing first.

ou are the pained wailer.

babajero:
don't worry boko haram and Fulani herdsmen are coming to your village next.

you think like a child. Wish you same, and may you perish soonest