₦airaland Forum

valdovas:
...Finally, I hope the scheme comes up in January -- it should actually -- so that people can pull their money.

Writer: Eke Diligence.

I was with you until you made that last final statement. Except for that post, which I think is myopic, the rest of your comments are logical.

MMM gives people 30% of their investment as profit. MMM does not invest these capital, they do not grow these capitals, etc...These profits are directly drawn from new members' contribution.

I see that, you are sympathetic to the people whose money are currently frozen and just like you, I wish they get their money back, but the bitter truth is, in MMM some people MUST lose their money, so even if MMM is unfrozen in January, either the new members will lost their money, or the members that follows....where will it stop? It is not sustainable.

Now, this is the catch-22; if you tell new members not join because you do not want them to lose their money and fine themselves in this current situation down the road... then you are hypocritical in wanting MMM to be unfrozen in January as it can't be unfrozen unless there are influx of new money/investments.....and if you want new/old members to join/invest, so MMM can be unfrozen for people to get their money, you are still hypocritical in not extending your sympathetic to the new members/investments that will eventually lose their money.

The only cure for this, is for everyone who have benefited to return their 30%, but we both know, this is not possible outside some governmental intervention. Simply telling to reinvest their 30% profit each time, since they now have their capital is not also possible, because it defeats the whole purpose of joining the scheme in the first place, which is to make some profit. If the whole purpose of taking this huge risk is to get one's capital back, I might as well dug it in the ground behind my house, I get the same end result, but without the risk.

The truth is, as much as I sympathized with these people, my opinion which worth nothing is... you do not win in every single investment; you lose some days, you win other days; chalk this up to your lost day, pick up yourself and move on.

vizkiz:
In a nutshell, change your password and security questions... Got it

too late, these accounts were hacked three years ago! Yahoo is just finding out.

Abbeyunique2:
After conquering South Africa, Zimbabwe and Nigeria, MMM has taken its message to Kenya, {promising} 40% return on investment.

The scheme, which calls itself a Global financial social network but is really just a Ponzi scheme was created by Russian criminal, Sergei Mavrodi.

Here’s to hoping Kenyans don’t get as greedy as Nigerians.

As we speak right now, many Nigerians who could not participate in Nigeria, are taking the next bus or flight to Kenya in a bid to cash-in.

Even some who lost money, have chalked up the whole experience to the fact that, they hesitated initially and joined very late and that, had they joined around June when MMM started in Nigeria, they would have made their killings and they do not want to miss the starting of this new MMM in Kenya.

Godshand:
But MMM is still very much functional. Without doubt, my sister has received her money today and a friend paid to who he was matched to pay. What does this mean? It means MMM is still working, only an extra clause has been added to the system. This panic is because people didnt understand the information well. Your confirmed mavros would now stay for at least 30days before you can GH...not as if MMM is in total pause mode. Read and understand.

And why do you think, it was increased to 30 days? It is simply because, there are too many people asking for help compare to people giving, meaning membership is down big time.

If what you said is true, you better collect and don't reinvest almost everyone will do the same, which will lead to less and less givers and subsequent dearth nail on the system.

The truth is, no reasonable person will still render help on MMM giving these news, that will keep you wondering if the person that you said received help actually got it from a new investment or it a false flag planted by the MMM owners to try to lure others in.

I think this is more applicable in the employment world, like been told that, you are over qualify for a position despite you needing it.

Though, some employers do this on purpose to prevent people from using their companies as resolving door to better opportunities and also to attract only employees that will stay there for the long haul.

erico2k2:
How is traditional marriage Legal?
whats the legal backing for it?
Even church wedding is not legal let alone traditional marriage,I take it you are not yet married right? some of us talking to you have been married for more than 10 years.

The Nigeria constitution recognizes three types of marriages:

1. Statutory Marriage aka Registry or Court Marriage.
2. Customary Marriage aka Traditional Marriage
3. Islamic Marriage

In all three marriages, one can apply and get marriage certificate from the registry.

All three marriages are legal in Nigeria and most Church marriages help couples to obtain marriage certificates. So churche weddings these days combine both, hence they are legal.

All the three types of marriages differs in application of certain laws e.g. Those in Statutory marriages cannot practice polygamy, but those in the other two can. Asset distribution and inheritance differs also among all three forms of marriages.

Agunechemba1:
You would have said Nigeria would be great instead of adding "Again" because it has never been .

It depends on your perspective, Nigeria was indeed great in some aspects in the past, e.g. The dollar exchanged for less than the Naira in this out lifetime.

Also, there was a time in this our lifetime, where we had positive net migration in Nigeria. Where people were unwilling to travel abroad and those who traveled to get education, took the next available flight back home after the completion of their education.

There was a time, security was great in this country compare to now...there was a time kidnapping was unheard off.

There was a time Nigerian Politicians were truthful honest and had the welfare of the citizens at heart.

Yes, Nigeria was great before. Agreed, we did not have the best electronic gadgets or the tallest buildings or the most advanced technologies at the time, but we were content, satisfy and off course great!

erico2k2:
You two are missing the point
Someone could have done traditional marriage and Church wedding 25 years ago and they now want to legalize it for reasons best known to them do you now understand why she might not give out that exciting vibes you described as missing

What do you mean? Traditional marriages are legal and recognized by the constitution. Except you intend saying that, the wife is afraid of her inlaws and wants the equality provided by statutory marriage.

Bhuldoxxa:
No disadvantages because its best for the law to recognize your marriage especially with the way more and more people are becoming hard hearted.

The law recognizes both marriages, except that statutory laws that governs court marriages protects ladies more compare to traditional laws that are applicable to customary laws e.g. in cases of asset sharing.

Also, for men intending on living a polygamous life, it is advisable they take the customary marriage route.

I have witnessed lot of cancelled flights in the past, and each time it happens and I see people fighting, getting disappointed, quarreling, etc. I just felt pity for them, despite the fact that I am in the same shoes.

I do not believe it worth fighting over, I simply just look up the best use to which I can put the free time that just presented itself.

In everything, give thanks God.

Mopolchi:
So Lagos want her graduates to end up as graduate drivers

The last time I was in Lagos, I took UBER exclusively and had the opportunity to meet and interact with lots of drivers. One particular Driver picked my interest because of his age, and we went into more detail discussions.

As at that time, he just recently wrote his JAMB and was waiting for result/admission. He have a fix sharing formula with his Boss 'the owner of the car', the car is with him 24/7; he settles his boss weekly, take care of repairs/fuel/etc.

At the end of the month, he makes more than N200K.

Now How many graduates can make half of that amount of money? And he said, he chooses when and how long to work, hangs out mainly around the airport and majority of his customers are Nigerians/Foreigners who just arrive the country and had used UBER before in their resident countries.

Plus, he have the ability to make more; because he was not working full hours and does not work everyday. An average UBER trip from the Airport is about N2K5 (I have even paid N3k, e.g. from VI to Ikeja under some moderate traffic). This makes about 10 trips a day (Note a day is the 24hrs window that makes one day).

If one strictly work Monday to Friday (or any other five days a week), that is = 2k5 x 10 x 5 x 4 0.80 (UBER took 20% then, I do not know if they have increased it)= N400K/monthly. Once you settle your Boss, take care of fuel, repairs..the rest is yours. In hist case, he settles his driver a fix amount, but most other UBER drivers I met, work on percentage e.g. 80/20, 70/30, 60/40, etc.

Current Lagos UBER rates are:
N400 base fare + N90/km + N9/minute (N400 minimum fare/N1000 Cancellation fee)

e.g. using current rate.
From Ikoyi to the Airport is about 28km, if it take 60 minutes that is = N3,460.00 (if the traffic is more, you get paid more as a driver).

Most of the awards are repetitive, redundant and merely emphasize the fact that, he is the best overall graduating student.

It goes without saying that, if one is the overall best graduating student, he/she will also have to be the best in most of his/her courses.

iluvdonjazzy:
100pounds is like 100million naira now.

Even if you add 10% inflation each year, it is only about N3.5 million today, where are you getting N100 million from?

Wetin come concern NYSC concern a legal activity, that two consenting adults are engaged in?

As long as it is legal i.e. someone was not forced, none of them is a minor, money did not change hands and it was not in public view; NYSC should had only made sure they do not litter the place after use, and if otherwise, make them to pickup after themselves.

In life, if you do not allow people to follow their intuitions, even if it means doing stupid things or failing or making mistakes; society in general will not advance, our gene pool will not improve, natural selection will not occur and our future will be bleak.

It is also ironic and hypocritical of NYSC, to openly distribute free condoms to both single and married coppers and at the same times, punish the latter for using them.

I think, she have a case against NYSC for causing her marital collapse....and NO! her adultery did not directly lead to her marital collapse. Where it not for the intrusion of NYSC, her marriage would not have collapsed, when and how it did. Though, it could be argued in court that, given her adulterous lifestyle, her marriage would had collapsed eventually. That premise is hypocritical and futuristic, and the court can not use the high likelihood of some futuristic events occurring, as as bases for deciding a case. More so, those futuristic events, also have a slight chance of not happening and should be discounted, as they are not concrete and tangible as evidence.

Wedding bells loading.....

gbomojomo:
IF ACTUALLY THIS MAN SAID THIS, THEN AISHA WAS RIGHT, ABOUT PMB NOT KNOWING MOST OF THESE MINISTERS. HER HUSBAND WASTED 6 MONTHS SEARCHING FOR NOISE MAKERS

Or this man is a breath of fresh air, in that despite the braggadocio and blame passing of the current administration his abilities to say it 'as it is' tell us more about the inner workings of this administration.

The truth is just like Dalung, PMB was never prepared in case he won, because he didn't believe he will win. Once he won, he was and still is overwhelmed by the magnitude of the problem he faces.

The guy and his ministers are lost and clueless. Almost two years in, with budget that dwaft all previous budgets in the history of this country, we have not seen or smell the effect of governance in this country.

Even in his signature project: The fight against "corruption", not even a single soul have been convicted and jailed. All na IGG, Nigerian's problem is bigger than them and they are ashamed to say so or to exit the scene, all that is left now is to play for time until 2019.

Who go buy petrol for the generator?

lady2lady:
Hello from the other side !!

I've always noticed that most men always doze off immediately after sex.

Well,I wondering what could be the cause because it's weird.

So Romancelanders (as it's so called) Enlighten me a little bit.

Have you also felt sleepy and slept off? please tell me about it!

Your post said.."most men", can you put a number on the number of men?

I am guessing that, you must have had a personal experience with these "most men" to have come away with this conclusion.

beautyerhu86:
When you have a $25, 000 cheque, then you can turn down Bill Gates offer. Hmmmmmm someone like me will accept the offer and continue with my website; that's the Nigerian spirit ohhhhhhh.

There is an unwritten contract between you and your employer...all intellectual work and product attributed to you during the time of your employment belongs to your employer.

Since, he already have a startup, claim can not be lay to 100% of his startup, but he stands a chance of losing percentage if the thing blossoms tomorrow.

He did the right thing by turning down the offer and concentrate on his startup.

Jchi9876:
How did you change The PIN??..

You are a liar you can't change your ATM pin over the phone neither can you do it online.

How the hell did you change the damn pin storyteller?

You can certainly change your ATM PIN at the issuing bank ATM machine, plus you can call in to change it over the phone, online and also in your bank mobile App.

Banks recommends you change your PIN regularly to mitigate against data theft and other compromise. If your current bank is not offering this feature, it might be a time to seek another bank or simply call them on the phone, they might be offering it without your knowledge.

You have to involve the police, your landlord and pack out of the compound.

If the thieves realized that, you sold them a dummy, they will come after you later. If your attitude towards Sandra changes compare to prior to the event, she will decode that, you are aware that she set you up and might want to counter before you rat her out.

Meanwhile backup your all your evidence. The idea of 'letting sleeping dogs lay" is myopic and dangerous for your health. You have this individual in your compound and will encounter her on a daily basis, but you are going to bottle up this incident internally and will not discuss it with her, while avoiding her and pretending that all is 'well'. Why do you want to put your health through these uncalled for stress, plus you were the one that got offended.

Also, it is always a good idea you make a police report each time an item that can be linked directly to you get missing. These are criminals, you never know where they might discard, drop or lost your ATM card and God forbids if, it was at another crime scene, then you will get a visit from Nigeria Police and most likely kool your feets off in a jail cell for a number of days while the the Police 'investigates', even after finding you innocent, you will not get your freedom until you have parted with some money.

Reporting this to the police and getting a documented proof of this incident is an insurance against the above. Like with all insurances, the event you are seeking protection against might not occur, but the peace of mind is priceless.

anathemiamia:
They can't press him like they're working when they already know he's dead

One is not dead, until medically pronounced as such by a Doctor and I doubt if a Doctor examined while he was lying there, it appear more likely that they left him there until they can afford money for treatment.

Also, the fact that one stops breathing does not mean that, one is dead; there could still be brain activities, indicating that the person is still alive despite not breathing.

Though, it is a little setback; but I truly applaud her for following her heart.

Marriage is not a do or die; money spent will be recovered, people who are disappointed, will get over it with time.

Kudos to the lady, for following her heart against all pressures. Many people today, are managing their marriages because they did not follow their heart, others were not as courageous as this lady to breakout and run, when it is obvious that, they are getting into marriage only because of pressure and not out of love.

SouthWestBlood:
While I agree with what linearity said about MMM, y'all still need to understand that nothing good comes easy. Even day-to-day business involves risk. There is a phrase that says "The world belongs to risk takers." While you are here talking about how MMM will fail, some are busy getting paid on the platform and doing meaningful things with the money made through MMM. Almost everything in this life is risk. You wanna make it? You've got to risk it!

What you have failed to understand is that, since MMM is illegal, when it stops paying; those who lose money can sue those to whom they sent money to.

All the sending/receiving are documented in the bank transaction. Even if you have profited and cash out, you are still exposed to a possible legal action to return all your winnings to the person that sent them to. You are also entitled to sue the person you sent money to for repatriation.

This will lead to a cascading effect and the perfect storm. Yes, some that 'won' will escape, but some 'won' will be caught and be made to kool their feets in kirikiri until they are able to cough up those 'winnings' and send it to the rightful owner.

The founder of MMM, who MMM was named after, was found guilty and sent to prison, he was then forced to pay back the money he took from others. He also, went ahead and declare his previous MMM bankrupt and reinvented this new one and spread it to Africa, when it got to Zimbabwe, it was dead within 9 months and lefts thousands of bitter members and destroyed lives.

My advice though for people who are in it and does not know when to cash out: Simply watch the amount of time it takes to receive help e.g. If it was 7 days before and move to 14 days to 21days to 28days to 35days to 42days, etc it is time to bailout, that trend simply means, enough new members are not joining to offset old members, in essence too many people are asking for 'help' and the people giving 'help' are getting fewer. And don't wait until the wait period increased twice, once it changes from the original date you were told when you joined, it is time to bail out.

The above advice will not work for everyone as it depends on when you joined along the timeline, if you joined towards the end of the timeline, no amount of caution will insulate you from loosing money, the final warning is, do not put the money you can't afford to loose period!

Billyonaire:
I dont think you read the messages very well, and even if you read, it means you lack comprehension capability. He didnt state that he spent the money, he handed over to an old woman who was expecting funding from the son for hospital bill.

I am not holding forte for the accused and I am certainly blaming the OP for such careless and mistakes. Most of you still believe that no one is above mistake, Yes ? But you must pay the price and learn from it.

Agreed, it was a mistake on both parties. But, the truth is in the eyes of the law, handing over the money to an old woman, who was expecting money is not an excuse, even if valid, it is a third party transaction that does not involve these two.

The particulars here is, someone wrongfully handed money to another, who have acknowledged that, he wrongfully came into possession of the money. The term 'spent' does not only means parting with money in exchange for goods and services.

If you voluntarily parted with money under any circumstances (name it), you have spent the money, because you are no longer in possession of the money.

The lady that even received the money and paid her hospital bills with it, is not in the clear as she can be charged.

kaeforum:
Banks are a ponzi scheme too, they can mismanage your funds and loose money for you.

You clearly does not know the meaning of Ponzi scheme, please hit the dictionary.

Bank deposits are insured, agreed they can mismanage funds and incur looses, but they are made to buy insurance and insures customer deposits up to a limit specified by CBN.

Ponzi schemes are not involved in any business or investment activities, they do not make a dime out of the money you gave them, but yet promise you 30% profit and they money is not insured and you are comparing them to a bank?

Billyonaire:
It is even criminal to send money to someone else's account wrongly. Do you know people can steal people's phone and token and send people's money to your account and you get arrested ? Havent you witnessed the Dasuki's saga in Nigeria presently ? I said the recipient's story can check out in court provided he presents evidences and the characters involved in argument. I have 3 lawyers on my Payroll and Tinubu has over 30 lawyers in his payroll. Lawyers will tell you how the law works. Keep your conscience aside. Stop acting as if the law is sacrosanct, you win by presenting a better argument.

Can you show me in the constitution or by case laws, where it is criminal to send money to someone's account wrongly?

And, Yes it is criminal to spend money that was sent into your account wrongly. You didn't not earn that money and can't spend it. It is the same as spending one million naira you picked on the street, both are theft and criminal.

Mujtahida:
So you don't know that- going by your trotting the ponzi scheme trope- that banks are ponzi schemes. When monkey eats your banana you are happy because you are used to the idea of monkeys earing your banana but when Gorilla eats it you start shouting all over town ponzi scheme, ponzi scheme

No sir, Banks are not Ponzi scheme. They invest your money, loan it out to businesses and others for profit.

They charge various fees and interest for a wide range of activities. Ponzi schemes does non of that, plus banks are legal, regulated and the government have oversight over them.

InvertedHammer:
/
Nothing is impossible to stop.

Having said that, now is the best time to get into MMM because there is a lot of skepticism surrounding it. A lot of people are waiting for the crash but it wont happen.

Keep your eyes open. But once the noise about imminent crash subsidizes and just about anyone you know (including naysayers) is into it with gleeful testimonies, that is a sign of supersaturated market. Take your money out.

Crash of financial ventures is designed in a way to take the most victims as it could possibly accommodate. MMM is not crashing soon. Just like titanic, it will happen when no one is paying close attention.
\

Everything you say is true, except that MMM is not a financial venture.

It is a Ponzi scheme, you simply get money from new members and redistribute to old members, there is nothing venture and financial about it...and by the way money is not 'financial' in this sense.

lekkie073:
so u r in essence saying u can get burnt by mmm?
will u tell a person going into a business to invest what he can afford to lose? i guess the answer is no. dat summarises d fraudulent nature of the scheme.

Yes, one can be burnt by MMM and the fine print while joining, clearly states that one should only use the money they can afford to lose.

MMM is a Ponzi scheme that relies on new members to pay off old members. It is not a business, does not invest your money in any business nor they sell and service or products whose profits is redistributed to members.

The 30% 'profit' they give you is from the seed money of old members. Hence it is members that first jump up to defend the Ponzi scheme, because the secret for them getting their money back is only when new gullible members of the public joins.

Eventually, it is going to crumble under it's own weight, depending on how long one had joined, they will make money or lose money.

The problem with Ponzi schemes is that, they are illegal under the eyes of the law and when it crumbles and the people that lose money seeks for justice, the old members will be under the hook to cough up the 'profits' they have made and even their seed money, because they profited from an illegal activities.

Agreed, the few smart ones will ascorn and disappear into the thin air, but a few innocent ones will be looking their feets in kirikiri until they or their relatives can cough up the money that was redistributed to them.

bellville:
And how did MMM make him commit suicide? Why are people trying hard to pull down MMM? So any MMM participant that dies now died because of MMM.

The account on naira land confirmed what I read somewhere else, in that 'he was owing lots of people'.

It is very plausible that, he borrowed from many to sponsor his MMM activities and the pay is not coming.

Another school of thought, since he is in MMM and receiving 30% returns each month on investment, why should he be in that kind of death?

Or he was already in serious debts and out of desperation, joined MMM in a bid to hit the big pay, but because of his desperations, he did not read the MMM fine print that states that, one should only use the money they can afford to lose to bet, but instead he put everything on the line and got burnt by MMM.

If I make 30% returns in business, 360% annualized, if I am in debts at all, it will only be to banks and in the tunes of billions plus, it also means the future is bright and drastic actions like taking one's life will be out of the picture.

Note: my comments are purely speculative as none of know his motives. The same is also true about your comments about it not related to MMM.

Urahara2:
this is a good development , but would it be properly enforced

Nonsense, it is currently illegal to assault any citizen. MOB actions or lynching are also illegation under current laws.

This bill does nothing.