MVLOX's Posts
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I will be back like commando |
Akerry:And y do u tink most us who haven't received invites didn't do same? Anyway congrats cha on been invited I wish u well in the interview.... |
donogaga:and hw was urs presented that made dem invite u? |
I applied 4 exam officer 2 general duties but haven't gotten an invite ooo. Tru wat medium did dey receive d iv? Text or email? |
Na wa for Nigerians ooo... Na once dey baptize and Christian d new techno phantom 6 and 6plus phones to Gionee M5 phone ooo....shuuu...naija I dey hail ooo |
Ahhhh I too believe Okumagba boys... Dem no dey dull... Mehn I sure still miss d area where I was born and given the training to face a hard naija... |
How does dis result make the economic come out of d mess its currently in nw.... Just passing by cha |
There are gud police in naija ooo but its the bad eggs make up 99.9 percent of the force which may soon change to service |
Members insist the scheme is totally transparent – but it has been repeatedly condemned by authorities Thousands of investors are feared to have lost their money after a pyramid scheme run by a convicted Russian fraudster crashed, somewhat predictably, in Zimbabwe. MMM Global has swept across Africa, with branches promising returns on investment of 30 per cent a month in South Africa, Zimbabwe, Nigeria and some east African states. It is masterminded by the former Russian politician Sergey Mavrodi, who went on the run when the original MMM – standing for Mavrodi Mondial Moneybox – collapsed in the late 1990s, losing investors an estimated $100m. On its website, MMM Global unashamedly advertises itself as a scheme whereby new members “assist” older members by paying a fee to join. Older members are allowed to withdraw money after a certain period of time, and receive bonuses for encouraging others to sign up. Mavrodi himself is reported to have gone into hiding after a separate entity designed to reward investors with the cryptocurrency bitcoin – dubbed the “Republic of Bitcoin” – folded in April this year. And since then, a criminal investigation has been launched into MMM Global’s branch in South Africa, after a probe by the National Consumer Commission “found something” to suggest the scheme was acting illegally . With Zimbabwe’s traditional financial institutions in jeopardy and the country gripped by an economic crisis, thousands turned to MMM Global as an investment that was avowedly independent of government control. That’s despite a warning from the Reserve Bank of Zimbabwe that the scheme was fraudulent. RBZ warned members of the public that existing investors were “paid money not from genuine market investment of their funds, but from contributions made by new investors, until a point when the scheme can no longer attract new investors”. Sure enough, users reported being unable to withdraw any funds earlier this month. One told The Herald newspaper: “When we started putting our funds in the scheme one could get assistance within seven days but things later changed to 14 days and when we were shut out the waiting period was 21 days. “What it simply means is that the number of people in need of help has outnumbered the number of people joining. Right now we have nowhere to get our money which we invested.” Despite the cautionary tales of Zimbabwe and South Africa – and indeed the original MMM scheme – a branch is now proving increasingly popular in Nigeria. The Central Bank of Nigeria has been forced to step in, warning consumers not to deposit money in any institution that is not insured by the Nigeria Deposit Insurance Corporation (NDIC). The bank’s comms director, Isaac Okoroafor, described MMM Global as “a new Ponzi scheme … that is spreading like wildfire”. “These people always come with very interesting propositions,” Mr Okoroafor said. “These are fraudsters who are just out there to collect people’s money and run away as soon as they hit their target.” MMM Global’s members across Africa continue to defend its legitimacy, publishing screengrabs showing withdrawals as proof the scheme pays out. In South Africa, where a Ponzi scheme is defined as any investment where the return is 20 per cent higher than the repo rate (currently 7 per cent), an anonymous member told business website Fin24: “MMM honestly tell people how it really works and do not promise people any return on the investments. “As a donation programme, how is it possible to lose your donation? In MMM people ask each other to help them. It depends on the members themselves to maintain the continuation of the process of the provision of help to each other.” A number of South African banks have now started shutting down accounts they believe could be linked to MMM, while in Zimbabwe the trusted mobile money transfer company EcoCash has distanced itself from the scheme, saying it is “not liable for any losses arising from the use of EcoCash to engage in illegal activities such as Ponzi schemes”. Even with all this facts and findings you can trust Nigerians to always still get involve and later blame the Devil or village people for their misfortunes. Source:www.independent.co.uk/news/world/africa/mmm-global-russian-ponzi-scheme-from-1990s-reborn-and-now-spreading-like-wildfire-in-africa-a7333366.html?cmpid=facebook-post |
Lol na true ooo but u forgot number 10. They turn to hustle by doing runs while looking for a gud guy to hook demselves to as a choice of a life partner. |
Dem even get official van self so dem try na |
EKPETI:Its either u re blind to ther fact dat there is a source down there at d bottom or u can't read... |
Y not I will even start a family with 40 - 45k a month self |
THOUSANDS of people, among them civil
servants and vendors, have lost thousands
of dollars to fraudulent online pyramid
scheme MMM Global Zimbabwe after it
collapsed recently. The social financial
network, which relied on an accelerating
number of new members to pay off the
old, abruptly terminated its services last
week leaving participants stranded.
This comes as Econet’s mobile financial
service platform, EcoCash yesterday
distanced itself from the pyramid scheme.
Participants claimed they were using
EcoCash for their transactions.
Zimbabweans have in the past months been
joining the online investment scheme in
droves in a bid “to get rich quickly”. The
Reserve Bank of Zimbabwe warned people
that the scheme was fraudulent and there
was no legal recourse in the event they lost
their money.
The central bank said MMM, which
advertises its operations through a website
and recruiting agents, was not a registered
or regulated entity. EcoCash yesterday said:
“We have noted that some of these
pyramid schemes are allegedly advertising
in a manner that suggests that the Ecocash
facility is a medium for prospective
members to deposit their money. This is
not correct.
“We advise our valued customers and all
stakeholders that Ecocash is a licensed
mobile payment platform that enables
customers to make financial transactions
such as sending money, buying prepaid
airtime as well as paying for goods and
services within the confines of the law of
Zimbabwe. EcoCash promotes safe and
legal transactions but will not be held liable
for any losses arising from the use of
EcoCash to engage in illegal activities such
as Ponzi schemes.”
The scheme advertises itself as a mutual
aid fund under which recruited members
contribute money to assist others and are
promised investment returns of 30 percent
per month. Some of the people left
counting their losses told The Herald that
they received emails that the scheme had
been suspended until September 15.
“All along things were moving in the right
direction and we now have nowhere to
claim our investments,” said Mr Tinashe
Muza of Harare.
“When we started putting our funds in the
scheme one could get assistance within
seven days but things later changed to 14
days and when we were shut out the
waiting period was 21 days. What it simply
means is that the number of people in
need of help has outnumbered the number
of people joining. Right now we have
nowhere to get our money which we
invested.”
MMM stands for Mavrodi Mondial
Moneybox and takes its name from its
founder, Sergei Panteleevich Mavrodi of
Russia. He founded MMM in 1989 and the
scheme was declared bankrupt three years
later leading to the disappearance of
Mavrodi until his arrest in 2003.
Another victim, Mrs Rosemary Mawonde
said: “We never thought the scheme would
end this way as we believed that by using
EcoCash to do the transactions, things were
in order. I am surprised that EcoCash is also
distancing itself from the scheme and it is
clear that I will never recover the $300 that
I invested.”
While some people who were skeptical
about the scheme started with small
amounts, it is believed some poured in
thousands of dollars anticipating higher
returns. The RBZ said the schemes were
fraudulent as existing investors were ‘paid
money not from genuine market
investment of their funds, but from
contributions made by new investors, until
a point when the scheme can no longer
attract new investors,”
“The participants are made aware that they
make their money by recruiting new
members who in turn must recruit more
members,” warned the Central Bank. Source-Herald iharare.co.zw/thousands-of-zimbabweans-lose-money-as-mmm-crashes/ |
ibietela2:Thank u.... |
Lovely |
ibietela2:Bros we knw. Dats y I said its all about the mind set. We just don't want anytin to go wrong. Afta we are planning and preparing for our marriage. Why hurry over something that u practically will get tired of doing in the nearest future? In oda words why run when u can opt for just strolling or walking? Bros we have chosen to walk and enjoy the walk at that. |
ibietela2:Nope all am saying is dat we don't want to complicate our own situation by having sex related issues like STDs, unwanted pregnancies etc |
I am currently in my 1st and no sex relationship for barely more dan a year nw. Am 28 she is 26. We both are virgins, been friends for more than 12 years nw and are more than ever resolved to keep it that way until we get married hopefully next year. We both have similiar stories as both our families have some really awful history of unhappy family life, parental breakups and spousal abuse which we hopeful plan to avoid first by staying away from sex while we are still dating and not married yet. A no sex relation can work it all depends on the mind set of both parties involved |
Ehhh lemme check......ok nw I remember..... I haven't don't that before..... #Teamvirgin #TeamInodeywahala #Teamaftermarriage |
So true |
Hit back to back to back to back to back to back to back ........... and still hitting to back...... |
oluwalewis:Tank u sir...... She sure will get ur msg |
oluwalewis:Honestly we did ooo was there yesterday and 2day.... It was fun really |
dis guy/babe would make a very gud accountant |
oluwalewis:Ok sir I will surely do my best to improve.... Sorry cha 2day we where suppose to hang out but chelsea match no make me show up...we call her to apology den make it up to her 2mao been a public holiday by cooking and taking it her.... Dats ROMANTIC I guess... |
oluwalewis:You are very correct..... Truth is dat I prefer to visit her at her family house where nothing can go wrong, but even at that she still does her very best to touch and caress me dis days I just go with the flow as I knw she wouldn't go over board. Sometimes she does some special things for me or she is so naturally beautiful without makeups and I feel like kissing her but my emotions are quick to say guy calm down so dat ''few drops of water don't turn into a rain dat turns into a storm''. We are both determined to remain cherish until afta marriage. As for me pushing her away cuz of my actions its rather the opposite, as she loves me more knwing dat I can very well control my emotion around ladies, d truth is dat I hardly can stand ladies and their excesses. She is my 1st and God willing only lady I babe/wife I will ever want and need. I wish more ladies were like her. |
saintkeppy:I said this cuz dis issue delayed the class of 2014... Dey only went on service afta temporary accreditation came back |
Potch:I said this cuz dis issue delayed the class of 2014... Dey only went on service afta temporary accreditation came back |
donbrowser:I said this cuz dis issue delayed the class of 2014... Dey only went on service afta temporary accreditation came back |
oluwalewis:Explain please |
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