The Nigerian Deposit Insurance Corporation (NDIC) has said while quoting the social media that an estimated three million Nigerians have lost N18 billion in the Ponzi scheme, popularly called Mavrodi Mundial Movement(MMM).

Speaking at the NDIC day at the ongoing 38th Kaduna International Trade Fair on Thursday,the Managing Director of the corporation,Alhaji Umaru Ibrahim decried that despite repeated warnings by the Central Bank of Nigeria (CBN) and the corporation, Nigerian's still patronise MMM.



Represented by the Deputy Director Corporate Affairs,Hadi Suleiman,the MD emphasised that the creation, usage or trading in the Ponzi scheme in forms of virtual currencies, such as Bitcoin, Ripples, Monero, Litecoin,Dogecoin and Onecoin as currencies for medium of exchange are Internet-based transactions and are not authorised by the CBN due to the risks involved in their operations.

He cautioned that any person or groups of persons who invest their money in the Ponzi scheme does so at their own risk.

He added,"The Ponzi scheme is the phenomenon of illegal fund managers,popularly called "Wonder Banks" which have continued to defraud unsuspecting members of the public of their hard earned money. This phenomenon has been a source for concern because despite our repeated warnings over the years, some members of the public have continued to fall victims of their fraudulent practices.

"We would like to reiterate the fact that these fund managers are illegal as they are neither licences by the CBN to take deposits from members of the public not are those who patronise them covered by the NDIC deposit insurance scheme. I want to also draw the attention of some cooperative society which often go beyond their primary mandate by accepting contributions from members as cooperative societies are only recognised to mobilise savings from their members. "

Read more at http://www.dailytrust.com.ng/news/business/3-million-nigerians-lost-n18bn-to-mmm-ndic/187580.html#jbBEmAxqLFZoQm4q.99

AceBeauty

This hustle is real

Ahhh! Now that escalated too quickly. I only hope this is not true. No one saw this coming.

RIP

[size=30pt]BBL[/size]
EITHER YOU GET IN OR YOU GO AND DIE

DOWNLOAD THE APP NOW
From AppStore or Google Play

I thought that's a great idea and a good site, however, the background colour looks alittle too mean to the eyes. You may want to see what others think too.

Congrats and I have subscribed

sellydion:
Rule No 1: Never borrow to trade stock

Rule No 2: Don't forget Rule No 1

Menh this bear sha, has really humbled me.

It's only matter of time, the naira will be devalued. Trust me, that's what is best for this our import dependent economy.

[size=15pt]Where are the 5% wailing wailers?[/size]

GEJ thank you for believing in the capabilities of women despite when all odds were against them from the left wingers during their tenure. You were never shaken but stood firmly and supported them all the way. Now they're making us proud

GEJ thank you for believing in the capabilities of women despite when all odds were against them from the left wingers during their tenure. You were never shaken but stood firmly and supported them all the way. Now they're making us proud

GEJ thank you for believing in the capabilities of women despite when all odds were against them from the left wingers during their tenure. You were never shaken but stood firmly and supported them all the way. Now they're making us proud

https://www.youtube.com/watch?v=paLHi4ieE7A

FOR THOSE THAT FIND IT DIFFICULT TO UNDERSTAND PLS READ HERE:

"(Going by election results), constituencies that gave me 97% can not in all honesty be treated, on some issues, with constituencies that gave me 5%. I think these are political realities. While, certainly there will be justice for everybody but the people who voted, and made their votes count, they must feel the government has appreciated the effort they put in putting the government in place. I think this is really fair."

See arrangee result!

Wow! That escalated too quickly. APC I bow

See arrangee result!

Wow! That escalated too quickly. APC I bow

See arrangee result!

Wow! That escalated too quickly. APC I bow

Nothing has changed here, is still the same record we've been hearing since. Just show us your certificate and every case will be closed period.

OrlandoOwoh:

Some of just type with your brains blocked. Agreed (for the purpose of discussion), have you asked yourself how Buhari got to be trained in military schools in the United Kingdom and the United States without tendering his WASSCE certificate? The system operated in these schools is somewhat similar with the one obtained in conventional universities. A person that wants to apply for an Msc programme won't just tender photocopies of his Bsc and NYSC discharge or exceptional certificates but also his SSCE certificate. In the same manner, a person applying for PhD will submit photocopies of his Msc, Bsc, NYSC and SSCE certificate.
Can you prove to us that Buhari was admitted into the US War College without an SSCE?

Na today? Abeg park.

I thought Buhari got into the military based on recommendation.

emmatemmy:
if buhari present blank paper as his certificate we Nigerian we still vote him. so jonathan should find another way again to nail him

Who is "we Nigerian"? My friend speak for yourself.

As far as I'm concern, Buhari is a massive FRAUD. Interesting times, even the so called educated are now saying that education isn't important anymore because of their selfish interest. SMH

oneeast:
Buhari should be locked up for fraud. We cant afford a stark illiterate walking freely..

Buhari is a big FRAUD!

sunnyshayne:
This is the only time politicians worry about the citizens and their popularity rating!

Lets see what happens after election!

So true

NaLaugh:


Step 1: record the "grab" hand gesture, while the little boy dives into the pool.

Step 2: record the same hand motion as step 1, but without the little boy in the scene.

Step 3: record the "throw" hand motion without the little boy in the scene.

Step 4: record the same hand motion as step 3 while the little boy dives in.

Go into your favorite video editing program:

a. Play step 1 and pause at the exact frame where the little boy is mostly covered by his hand, and the frame before the hand starts to "grab."
Slice the clip right there.

b. Play step 2, and at the first frame where the hand starts to close, slice the clip right there and attach it to "a" above.

c. do the same thing for the "throw" effect, but in reverse.



Unfortunately for me, i can no longer watch movies with a normal perspective. All i see are technical patterns and the creation process.
It messes with my ability to enjoy movies at times.

Nice

omenka:
I implore every progressive who stops by this thread not to drop any further comment. Just read and move on. Don't popularise the thread by commenting. At best just like or share the reasonable comments you see. We have more important issues to deal with.

Thank you all.

This is the issue with you guys here. Instead of facing the reality on ground and come up with possible ways to confront them objectively you're all here looking for your fellow low life sympathizers to console and support you.

When you're large, your're large. One looks classy and the other I give up

Well you wouldn't blame GMB, they keep imposing VPs on him. Maybe because he's too weak, afterall he recently said that his party will decide on a national TV on virtually all direct questions being asked in which he should simply had take a stand.

Amaechi! Amaechi!! Amaechi!!! How many times have I called you? See what you've done to yourself now.

What an expository article that was.
First,

History matters. Records are not kept simply to assist the weakness of memory, but to operate as guides to the future - Prof Wole Soyinka

The atrocities of GMB will continue to hunt him till he dies, such a man cannot I repeat cannot near the corridor of power again in this great nation.
Little wonder why he lacks basic economics sense and live in penury after ruling a country.You can't come and enslave us as a nation again, we don wise up now.
Since APC have decided the best they can offer is this guy, they've failed. As the saying goes,

Satan that we have known for long should be preferred to a saint we just heard about

Before you all e-rats come here to spill rubbish, read this

It is astonishing to find that the same former slaves, now free of their chains, should clamour to be ruled by one who not only turned their nation into a slave plantation, but forbade them any discussion of their condition. - Prof Wole Soyinka

The Champion is back! Chelsea and Man City watch your back.

9free:
Na my Portfolio be this!!!!!!
No oooooooo......... it can't be.
Maybe I mistakenly logged into Oga Born2BeRich own.
Make I check my username and password again

I checked mine too this morning after a long while and I couldn't believe what I saw. Its like it was hit by tsunami. Its really bad that I can't even imagine pulling out now. The best I can do is to just start cherry picking in tranche. It can't go worse than this.

kokoA:
It's to long. I didn't read it.

TL;DR

Lol