₦airaland Forum

Nature129:
Do not say what you have no clue how it works. MMM do not have access to our money; we merely help one another. Mr Tunde pays Alhaji Ali and informs that Alhaji Ali has been paid on the website. The cycle keeps going on and on without any of the participants depositing into a central account.

My only fear is that the Adkins of the system, if not properly checked, could manipulate the system in their favour and defraud unsuspecting donors.

But as for the system, it was a well-thought out concept. The scheme is well perfected. Anyone who understands MMM should know that they pay participants absolutely nothing while they generate millions of traffic around the world.

I understand that MMM has worked perfectly in many countries so I don't know why SEC is raising necessary alarm because it will demoralize new donors. But then, our government has failed us in all areas of our national life, so why should we take them seriously anyways?

People have made millions,bought cars, built houses, etc from MMM. These guys should allow me buy my own car and build my own house from the system before raising unrealistic alarms, biko!!!!

Joel3:
mmm is not a business organization or cooperate investment platform and therefore cannot be registered under any government monitory or tax laws.

mmm is a social organizations base under the platform of social help or donation. people help each other. and I think they made it clear that it's not an investment platform.

there is nothing like scam there the only thing there is that it will definitely crushed. it's not a business but circular donations. the ponzi schemes is investment platform. although the similarity is the same.

as long as there are new people joining and helping each other the thing will keep going round. the sad part is that it will cut down business activity in the country to some certain %. as people putting their money in the scheme.

how its going to crashed? when people stop joining or stop putting their money. then their will be less donor who want to help and high receiver who want help. then it will crashed.

southernbelle:

my mom told me about planwell too, how many people sold their properties to be part of it and when the whole thing crashed, some died from heart attacks and some even committed suicide because they could never recover again.

Chyvy:
Why wait for 30% return on investment, when there are so many things to do that can bring in far, I mean far far higher than that? The people who engage in this are just simply lazy and "mentally poor". If you have spare money, give it to charity. MMM is not one.

SEC has sounded the alarm and its just a matter of time before it crumbles like a pack of cards! If you are wise, go and cash out now! A word they say is enough for the wise.

Peace!

priceaction:
That one is like esusu/ ajo. Me and my wife self they do such almost 8 years now without issues because calibers of people we deal with will not run away with your money.
You know their house, the members likely hv I.D card, they know themselves and know their shops and what they likely do with the money. So if they don't pay, they know where to go. But this one, if the last helped fellow that you have never seen disappeared, how are you going to go about it? This is what I hav been asking these agents? I never get meaningful reply than new members will join and pay blalala. That's why , I think they are very active in referral upanadan.

Acidosis:
They don't have any account!



I think Nigerian Banks and the FG are the greatest scammers on earth. Bunch of ediots!


Put N500k in a bank, the useless banks will use this money for business, make money, declare phantom profits and pay you N200 interest after a year! Bunch of f00ls.


As far as members of MMM are making their profits, it is NOT and will never be a scam unless proven by the management.


These f00lish leaders sit in their toilets round tripping dollars, declaring Fx profit at the comfort of their homes, and they expect people to remain on the same spot?! NEVER!

BANKS are the greatest scammer! ONLY a F00l will leave large sum of money (millions) with a bank, especially in a recessionary third world economy! Your idle money (savings) is putting wealth on the Table of Corporate Scammers - Banks who go behind doors to condemn MMM when in fact, they do corny and dirty deals.

I only pity some petty news-monger who believe these f00lish leaders have their interest at heart. If you believe MMM will save your finances, go ahead and invest! The f00lish leaders know their survival strategy! They steal the dollars, hide them and push us into recession!

Use your head people! Do not let those suits deceive you! Banks are not better than MMM!

Acidosis:
They don't have any account!



I think Nigerian Banks and the FG are the greatest scammers on earth. Bunch of ediots!


Put N500k in a bank, the useless banks will use this money for business, make money, declare phantom profits and pay you N200 interest after a year! Bunch of f00ls.


As far as members of MMM are making their profits, it is NOT and will never be a scam unless proven by the management.


These f00lish leaders sit in their toilets round tripping dollars, declaring Fx profit at the comfort of their homes, and they expect people to remain on the same spot?! NEVER!

BANKS are the greatest scammer! ONLY a F00l will leave large sum of money (millions) with a bank, especially in a recessionary third world economy! Your idle money (savings) is putting wealth on the Table of Corporate Scammers - Banks who go behind doors to condemn MMM when in fact, they do corny and dirty deals.

I only pity some petty news-monger who believe these f00lish leaders have their interest at heart. If you believe MMM will save your finances, go ahead and invest! The f00lish leaders know their survival strategy! They steal the dollars, hide them and push us into recession!

Use your head people! Do not let those suits deceive you! Banks are not better than MMM!

Qtsnow:
Less than three months after the company collapsed in South Africa, MMM Global, a Russian Ponzi Scheme company has opened shop in Nigeria with the domain name-

MMM was established in 1989 by Sergei Mavrodi, his brother Vyacheslav Mavrodi, and Olga Melnikova. The name of the company was taken from the first letters of the three founders’ surnames.

Initially, the company imported computers and office equipment. In January 1992, tax police accused MMM of tax evasion, leading to the collapse of MMM-bank, and causing the company to have difficulty obtaining financing to support its operations. Faced with difficulties in funding its foreign trade, the company switched to the financial sector. It offered American stocks to Russian investors, but met with little success. Later, MMM-Invest was created for the purpose of collecting vouchers during privatisation. This effort was similarly unsuccessful.

MMM created its successful Ponzi scheme in 1994. The company started attracting money from private investors, promising annual returns of up to one thousand percent. It is unclear whether a Ponzi scheme was Mavrodi’s initial intention, inasmuch as such extravagant returns might have been possible during the Russian hyperinflation in such commerce as import-export.

MMM grew rapidly. In February 1994, the company reported dividends of 1,000%, and started an aggressive TV ad campaign. Since the shares were not quoted on any stock exchange and the company itself determined the share price, it maintained a steady price growth of thousands of percent annually, leading the public to believe its shares were a safe and profitable investment.

An important factor in the scheme’s success was word of mouth, but most of the company’s success came from its extremely aggressive ad campaign, which appealed to the general public by using “ordinary” characters that viewers could identify with. The most famous of them, a “folk hero” of early 1994, was Lyonya Golubkov. Another notable marketing effort was a giveaway of free Metro trips to all Moscow citizens on a particular day. MMM also was one of the first well-known companies in Russia with a logotype and slogans (“Flying from shadow to the light” and others).

At its peak the company was taking in more than 100 billion rubles (about 50 million USD) each day from the sale of its shares to the public. Thus, the cashflow turnover at the MMM central office in Moscow was so high that it could not be estimated. The management started to count money in roomfuls (1 roomful of money, 2 roomfuls of money, etc.).

Regular publication in the media of the rising MMM share price led President Boris Yeltsin to issue a decree in June 1994 prohibiting financial institutions from publicising their expected income.

The success of MMM in attracting investors led to the creation of other similar companies, including Tibet, Chara, Khoper-Invest, Selenga, Telemarket, and Germes. All of these companies were characterised by aggressive television advertising and extremely high promised rates of return. One company promised annual returns of 30,000%.

On July 22, 1994, the police closed the offices of MMM for tax evasion. For a few days the company attempted to continue the scheme, but soon ceased operations. At that point, Invest-Consulting, one of the company’s subsidiaries, owed more than 50 billion rubles in taxes (USD 26 million), and MMM itself owed between 100 billion and 3 trillion rubles to the investors (from USD 50 million to USD 1.5 billion). In the aftermath at least 50 investors, having lost all of their money, committed suicide.

Several organisations of “deceived investors” made efforts to recover their lost investments, but Sergei Mavrodi manipulated their indignation and directed it at the government. In August 1994 Mavrodi was arrested for tax evasion. However, he was soon elected to the Russian State Duma, with the support of the “deceived investors”. He argued that the government, not MMM, was responsible for people losing their money, and promised to initiate a pay-back program. The amount ultimately paid back was minuscule compared to the amount owed.

In October 1995, the Duma cancelled Mavrodi’s right to immunity as a deputy. In 1996, he tried to run for Russia’s presidency, but most of the signatures he received were rejected. MMM declared bankruptcy on September 22, 1997.

While it was believed that Sergei Mavrodi left Russia and moved to the United States, it is possible that he stayed in Moscow, using his money to change apartments regularly and employ a group of former special agents. With the help of a distant relative he started Stock Generation Ltd., another pyramid scheme based around trading non-existent companies’ stocks in a form of the “stock exchange game” on the company’s site, stockgeneration.com. Despite a bold-letter warning on the main page that the site was not a real stock exchange, between 20,000 and 275,000 people, according to various estimates, fell for the promised 200% returns and lost their money. According to U.S. Securities and Exchange Commission, losses of victims were at least USD 5.5 million.

Mavrodi was found and arrested in 2003. While in custody, Mavrodi was given until January 31, 2006 to read the documents in his fraud case against him (The criminal case consisted of 650 volumes, each 250-270 pages long). At the end of April 2007, Mavrodi was convicted of fraud, and given a sentence of four and a half years. Since he had already spent over four years in custody, he was released less than a month later, on May 22, 2007. He later went on to creating yet another pyramid scheme called MMM-2011.

The MMM scandal led to increased regulation of the Russian stock market, but the legacy of the fraud led many to become extremely suspicious of any joint stock companies.

In 2015 MMM began operating in South Africa with the same business model as MMM-2011, claiming a “30% per month” return through a “social financial network”. The group was identified as a possible pyramid scheme by the National Consumer Commission and accounts of clients were later frozen by Capitec Bank. In response to mounting criticism and official investigations by state authorities in 2016 supporters of the South African MMM scheme staged a protest march in Johannesburg.

In 2016, MMM launched a website targeting the Nigerian audience.

Many Nigerians who are not conversant with the fact that the company is a fraudulent establishment that defrauded more than 40 million people of at least USD10 billion before being shutdown and declaring bankruptcy in Russia.

mmm

As reported by Fin24, MMM Global in its usual manner operated a platform where its members are encouraged to donate money to others by rewarding them with the bitcoin-linked virtual currency – Mavros – in return, and can apparently get 30% return on their rand investment by doing so.

However, it is a known knowledge that a scheme is a Ponzi scheme when expected return is 20% higher than the repo rate. To the amazement of any reasonable person, many South Africans still fall prey despite the fact that the repo rate in SA is 7%.

MMM Global only gave South Africans the bad news with a post on its website saying “We regret to inform you that we have to close down the Republic of Bitcoin. It was an experiment, and, unfortunately, it failed. We turned out not to be able to pay 100% per month.”

How can a company that has been defrauding people since 1989 claim its scheme is an experiment in 2016?

I met a former colleague who has fallen prey to the fraud. He was reveling in the phantom promise that his NGN100,000 will yield him additional 30% in return. I immediately alerted him that he has fallen for a Ponzi Scheme and that everything will soon blow up in his face.

To further delude their victims, MMM Global has been using propaganda and lies. My colleague narrated the origin of the company to me. Even a smart person will get carried away. The height of the idiocy was when he told me that MMM was closed down in Russia because the company became richer than the Russian government and all the banks put together.

A day before it collapsed in South Africa, BehindMLM, a website that reports news on Ponzi Schemes and Multi-level Marketing, MLM warned the public saying:

“The financial apocalypse is upon us, MMM Global has collapsed,”

“MMM Global’s Ponzi clones offering a lower percentage haven’t ‘proved’ themselves any more than MMM Global did,”

“MMM Global cannot sustain paying out more than is invested. And as long as affiliate investment is the only source of revenue entering the scheme, any MMM Global scheme will ultimately collapse.

“They’ll continue to pay ROIs (return on investments) until withdrawals exceed the rate of new investment, and then run out of money all the same. One only needs to look at the collapse of MMM China for evidence of what’s to come”.

“Unfortunately for most MMM Global investors, the collapse is the end of the line. Those unlucky enough to live in countries where MMM Global runs secondary scams (like South Africa), were informed their accounts would be transferred over.”

However, I am not surprised that Nigerians will fall prey to MMM Global. Ponzi Schemes are recurring decimals in the social history of Nigeria. From fraudulent investment clubs, to wealth solutions and other MLMs across the country.

In the midst of the banking boom, many Nigerian lost billions of Naira (NGN) to Ponzi Schemes who promised millions of the population superfluous interest rates close to 150% within 30 days.

A writer once accused many Nigerians of ‘momentary amnesia’, but in the midst of an economic crises, record inflation and ‘technical recession’, the lack of access to information by victims of such schemes seals their fate.

cekhoe:
my dear, I will rather look for money and start a business myself than to give it to anyone, I read about yellow kid Weil one of the most notorious scammer in America and learnt alot, these things are as old as time

neocortex:
You see those group you mentioned, you only get what you will eventually put in which
is a normal thing. But this MMM promises you 30%, where do you think the extra comes from ?
Nobody will put their money in MMM if they have to pay back all they have earned from it.

southernbelle:
of course, starting a business with the money you want to put in a ponzi scheme will always be wiser but trust most of us,Nigerians, we will always want the easiest way to achieving anything.

mckoolcharming:
http://m.punchng.com/online-fraudsters-hit-capital-market-sec-warns/

Joel3:
this is how it works..

if you help someone. that amount let say N50k. this 50k will enters your mavro account. and it grows at 30% a month. at the end of 30days it will be N70k. so if you request for help. someone will help you with the N70 cash out. the person that help you with 70k another person will help that one at 30days. then u too can help another again and again just like that.

grossintel:
oga what happens when people decide to withdraw their money from banks in numbers? Even first bank will fold if that happens.

lordy:
No need for the quarrels and exchange of words over whether MMM is a scam or not.

SEC, as an organ of government has done its part. It's actually very difficult to tell a child not to finish up a bottle of 35cl coca-cola he or she has tasted. It is sweet, the feeling is beautiful...until the purging starts.

What SEC has done is what an experienced mum will do for her 4-year old whose hell-bent on finishing the content of the big Coke bottle at one sitting.

Many MMM proponents argue that MMM model is just like our bank model, but forget that, unlike banks where deposits are insured by NDIC, you're 'OYO' in your dealings with MMM.

I'm not into the MMM-ish. I made lots of money from similar programs in the past, but I've also lost the confidence of many who I introduced to these programs with good intentions when the programs crashed. From Club Freedom, to Diamond Cash Club to recently Vemma, I've seen lots of them. So, I'm wiser.

As a former editor at SuccesDigest newspaper, I've seen many of these programs come and go with tales of woes trailing them, even those that had products to sell, how much more MMM that has no product to sell.

Have you ever asked yourself what the operators of MMM stand to benefit from all these? Ask yourself how the operators make their own gain to keep operations going? If the search for the answer to these questions does not shock you back to reality, nothing will.

Google is your friend. Do your due diligence on MMM. Check their antecedents in other countries before landing in Nigeria at a time when Nigerians are most vulnerable to programs like this.

In a nutshell, whatever you do with MMM is your business. People were also warned about wonder banks in the past, but they wouldn't listen until it was too late.

My only advice for the die-hard MMM participants is 'trade with money you can afford to lose.'

There is no shortcut to success. You have been warned!

PaulIdu:
Mr man what are you guys creating wealth from? It's a textbook example of a Ponzi scheme and a weak one at that..have you heard about the perpetual motion machine concept ? That's what this is ..a gathering of very dull people who are desperate to create wealth from doing absolutely nothing till they get scammed

JeffreyJamez:
I see some saying "I just received my pay"...before nko?.. ..when them pay you, sebibyou will withdraw and still put money again, and foolishly, you'll put higher amount so that returns go plenty again ..... Na so you go dey put dey increase your money to receive even higher amount until e shele!! ........ See how gullible people can be.... Dumb broads everywhere.

Leopantro:
here's why it would fail

In this basic example, you would need one new member per five existing members to keep the scheme afloat just to meet a 20% return – let alone the 100% return.
For example, once there are 10 000 members, for each member to receive their 20%, a further 2 000 members would have to be recruited the next month.
As they join, so the speed of recruitment has to increase.
Now you have 12 000 existing members and need 2 400 new members the next month, 2 880 the following month and then 3 456 new members, and so on.

"Based on the information provided on the website, MMM follows a classic pyramid structure," she said. "The participants derive their income or returns primarily for the recruitment of new members. In other words, the returns are not based on investments or the selling of any product, but on money paid by new people joining. The philosophy is that you offer assistance by paying a joining fee."

Mavrodi has executed his exit strategy - claim
BehindMLM said Mavrodi “executed his exit strategy a few weeks ago. On March 20th Mavrodi informed investors there would be no more news updates published to the MMM Global website”.
“Mavrodi has not been heard from or seen since, and is presumed to be on the run. It’s highly likely he withdrew and/or transferred out as much of the money he stole from investors before fleeing.”

Qtsnow:
Less than three months after the company collapsed in South Africa, MMM Global, a Russian Ponzi Scheme company has opened shop in Nigeria with the domain name-

MMM was established in 1989 by Sergei Mavrodi, his brother Vyacheslav Mavrodi, and Olga Melnikova. The name of the company was taken from the first letters of the three founders’ surnames.

Initially, the company imported computers and office equipment. In January 1992, tax police accused MMM of tax evasion, leading to the collapse of MMM-bank, and causing the company to have difficulty obtaining financing to support its operations. Faced with difficulties in funding its foreign trade, the company switched to the financial sector. It offered American stocks to Russian investors, but met with little success. Later, MMM-Invest was created for the purpose of collecting vouchers during privatisation. This effort was similarly unsuccessful.

MMM created its successful Ponzi scheme in 1994. The company started attracting money from private investors, promising annual returns of up to one thousand percent. It is unclear whether a Ponzi scheme was Mavrodi’s initial intention, inasmuch as such extravagant returns might have been possible during the Russian hyperinflation in such commerce as import-export.

MMM grew rapidly. In February 1994, the company reported dividends of 1,000%, and started an aggressive TV ad campaign. Since the shares were not quoted on any stock exchange and the company itself determined the share price, it maintained a steady price growth of thousands of percent annually, leading the public to believe its shares were a safe and profitable investment.

An important factor in the scheme’s success was word of mouth, but most of the company’s success came from its extremely aggressive ad campaign, which appealed to the general public by using “ordinary” characters that viewers could identify with. The most famous of them, a “folk hero” of early 1994, was Lyonya Golubkov. Another notable marketing effort was a giveaway of free Metro trips to all Moscow citizens on a particular day. MMM also was one of the first well-known companies in Russia with a logotype and slogans (“Flying from shadow to the light” and others).

At its peak the company was taking in more than 100 billion rubles (about 50 million USD) each day from the sale of its shares to the public. Thus, the cashflow turnover at the MMM central office in Moscow was so high that it could not be estimated. The management started to count money in roomfuls (1 roomful of money, 2 roomfuls of money, etc.).

Regular publication in the media of the rising MMM share price led President Boris Yeltsin to issue a decree in June 1994 prohibiting financial institutions from publicising their expected income.

The success of MMM in attracting investors led to the creation of other similar companies, including Tibet, Chara, Khoper-Invest, Selenga, Telemarket, and Germes. All of these companies were characterised by aggressive television advertising and extremely high promised rates of return. One company promised annual returns of 30,000%.

On July 22, 1994, the police closed the offices of MMM for tax evasion. For a few days the company attempted to continue the scheme, but soon ceased operations. At that point, Invest-Consulting, one of the company’s subsidiaries, owed more than 50 billion rubles in taxes (USD 26 million), and MMM itself owed between 100 billion and 3 trillion rubles to the investors (from USD 50 million to USD 1.5 billion). In the aftermath at least 50 investors, having lost all of their money, committed suicide.

Several organisations of “deceived investors” made efforts to recover their lost investments, but Sergei Mavrodi manipulated their indignation and directed it at the government. In August 1994 Mavrodi was arrested for tax evasion. However, he was soon elected to the Russian State Duma, with the support of the “deceived investors”. He argued that the government, not MMM, was responsible for people losing their money, and promised to initiate a pay-back program. The amount ultimately paid back was minuscule compared to the amount owed.

In October 1995, the Duma cancelled Mavrodi’s right to immunity as a deputy. In 1996, he tried to run for Russia’s presidency, but most of the signatures he received were rejected. MMM declared bankruptcy on September 22, 1997.

While it was believed that Sergei Mavrodi left Russia and moved to the United States, it is possible that he stayed in Moscow, using his money to change apartments regularly and employ a group of former special agents. With the help of a distant relative he started Stock Generation Ltd., another pyramid scheme based around trading non-existent companies’ stocks in a form of the “stock exchange game” on the company’s site, stockgeneration.com. Despite a bold-letter warning on the main page that the site was not a real stock exchange, between 20,000 and 275,000 people, according to various estimates, fell for the promised 200% returns and lost their money. According to U.S. Securities and Exchange Commission, losses of victims were at least USD 5.5 million.

Mavrodi was found and arrested in 2003. While in custody, Mavrodi was given until January 31, 2006 to read the documents in his fraud case against him (The criminal case consisted of 650 volumes, each 250-270 pages long). At the end of April 2007, Mavrodi was convicted of fraud, and given a sentence of four and a half years. Since he had already spent over four years in custody, he was released less than a month later, on May 22, 2007. He later went on to creating yet another pyramid scheme called MMM-2011.

The MMM scandal led to increased regulation of the Russian stock market, but the legacy of the fraud led many to become extremely suspicious of any joint stock companies.

In 2015 MMM began operating in South Africa with the same business model as MMM-2011, claiming a “30% per month” return through a “social financial network”. The group was identified as a possible pyramid scheme by the National Consumer Commission and accounts of clients were later frozen by Capitec Bank. In response to mounting criticism and official investigations by state authorities in 2016 supporters of the South African MMM scheme staged a protest march in Johannesburg.

In 2016, MMM launched a website targeting the Nigerian audience.

Many Nigerians who are not conversant with the fact that the company is a fraudulent establishment that defrauded more than 40 million people of at least USD10 billion before being shutdown and declaring bankruptcy in Russia.

mmm

As reported by Fin24, MMM Global in its usual manner operated a platform where its members are encouraged to donate money to others by rewarding them with the bitcoin-linked virtual currency – Mavros – in return, and can apparently get 30% return on their rand investment by doing so.

However, it is a known knowledge that a scheme is a Ponzi scheme when expected return is 20% higher than the repo rate. To the amazement of any reasonable person, many South Africans still fall prey despite the fact that the repo rate in SA is 7%.

MMM Global only gave South Africans the bad news with a post on its website saying “We regret to inform you that we have to close down the Republic of Bitcoin. It was an experiment, and, unfortunately, it failed. We turned out not to be able to pay 100% per month.”

How can a company that has been defrauding people since 1989 claim its scheme is an experiment in 2016?

I met a former colleague who has fallen prey to the fraud. He was reveling in the phantom promise that his NGN100,000 will yield him additional 30% in return. I immediately alerted him that he has fallen for a Ponzi Scheme and that everything will soon blow up in his face.

To further delude their victims, MMM Global has been using propaganda and lies. My colleague narrated the origin of the company to me. Even a smart person will get carried away. The height of the idiocy was when he told me that MMM was closed down in Russia because the company became richer than the Russian government and all the banks put together.

A day before it collapsed in South Africa, BehindMLM, a website that reports news on Ponzi Schemes and Multi-level Marketing, MLM warned the public saying:

“The financial apocalypse is upon us, MMM Global has collapsed,”

“MMM Global’s Ponzi clones offering a lower percentage haven’t ‘proved’ themselves any more than MMM Global did,”

“MMM Global cannot sustain paying out more than is invested. And as long as affiliate investment is the only source of revenue entering the scheme, any MMM Global scheme will ultimately collapse.

“They’ll continue to pay ROIs (return on investments) until withdrawals exceed the rate of new investment, and then run out of money all the same. One only needs to look at the collapse of MMM China for evidence of what’s to come”.

“Unfortunately for most MMM Global investors, the collapse is the end of the line. Those unlucky enough to live in countries where MMM Global runs secondary scams (like South Africa), were informed their accounts would be transferred over.”

However, I am not surprised that Nigerians will fall prey to MMM Global. Ponzi Schemes are recurring decimals in the social history of Nigeria. From fraudulent investment clubs, to wealth solutions and other MLMs across the country.

In the midst of the banking boom, many Nigerian lost billions of Naira (NGN) to Ponzi Schemes who promised millions of the population superfluous interest rates close to 150% within 30 days.

A writer once accused many Nigerians of ‘momentary amnesia’, but in the midst of an economic crises, record inflation and ‘technical recession’, the lack of access to information by victims of such schemes seals their fate.

mckoolcharming:
If only they will admit that banks are ponzi scheme, then I will agree that MMM is a ponzi scheme.

1. MMM is not an Investment program. We are helping ourselves to be financially free. The government has failed us and we have decided to help ourselves

2. MMM does not collect our money. We pay directly to other people's account.

3. MMM is not a company, as such, there is no point registering with SEC.

4. Is there any law in this country forbidding us to help our brother? If there is, then you can shut us down

5. If the government begins to gives us 24hours electricity, pay a minimum wage of NGN200,000 per month, employs everyone that is unemployed, then we can consider leaving MMM

pippimp:
I have a problem with the bold statement. The moment you started advertising to the public, you have/had to register with the SEC. How do you regulate situations like that if whoever is doing it is not regulated? In normal societies, you would be in jail for doing exactly what you are doing.