CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank - Investment (2) - Nairaland
Nairaland Forum › Nairaland General › Investment › CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank (84416 Views)
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| Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by Efewestern: 7:09am On Sep 16, 2016 |
Seun The rate at which MMM member use this platform to promote there scheme Is alarming,.. Nairaland is home to most Nigerians.. Please try making policy to checkmate These scammers. |
| Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by oweman: 7:10am On Sep 16, 2016 |
dmostcheerful: |
| Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by MrBen10(m): 7:11am On Sep 16, 2016 |
CBN is the MMM scam more important than the swindling economy?? . Why can't cbn be able to balance or bring policies that can be benefitted by the citizens of Nigeria rather than hating on the founder of MMM and his scheme? . I guess MMM is owned by a PDP person, reasons why this element of APC is trying to bring down the scheme. . . . Money CBN cannot provide! Starvation is in the country! No employment! Dollar is still climbing up! ...and cbn is not doing anything oo, Na mmm wey no even concern dem, naim dem carry e matter for head like gala. . Only God knows how many threat they may av sent to mmm before coming publicly to discourage people from engaging in it. |
| Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by slightlyMad(f): 7:11am On Sep 16, 2016 |
by the time it folds up, some will loose so much that suicide will be the obvious way out |
| Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by Elegantdiva: 7:12am On Sep 16, 2016 |
That was how"LETS PARTNER WITH YOU" came into action. Nigerians should be careful. Some will gain while some will cry when the time comes |
| Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by MrDojo(m): 7:12am On Sep 16, 2016*. Modified: 12:38pm On Sep 16, 2016 |
Some people are goats even if Jesus warns them personally they will not hear..... Only some1 without sense will still defend the scam called MMM |
| Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by iykecicero: 7:13am On Sep 16, 2016 |
MMMs are another Ponzi Scheme in the making. Soon Nigerians will come here to cry, others will commit suicide while few will run mad and rest will turn to beggars. |
| Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by segebase(m): 7:13am On Sep 16, 2016 |
when APC scamed us una no warn us say dem b scam.....now MMM come una talk say na scam..LLMMMw |
| Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by jazinogold(m): 7:13am On Sep 16, 2016 |
just here to read comments... hope my comments grow like mavro so I can GH 30 days later! |
| Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by OKorowanta: 7:14am On Sep 16, 2016 |
Protect lord |
| Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by Kay17: 7:16am On Sep 16, 2016 |
naira0:But where does the toxicity of the businesses that fail on this system go to? |
| Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by adedayoa2(f): 7:16am On Sep 16, 2016 |
Tunagee:I know its gonna crash one day, and i tell the people i refer to 'enjoy while it last' |
| Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by jahsson(m): 7:20am On Sep 16, 2016 |
Boleyndynasty2:not sure sha... But i believe they trade (stocks) with the money they get from people... |
| Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by instinctg(m): 7:22am On Sep 16, 2016 |
naira0:summary: you use Peter to rob Paul, CBN knows better |
| Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by Horlufemi(m): 7:22am On Sep 16, 2016 |
MMM = My Money Miss |
| Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by Eyodemadrid: 7:22am On Sep 16, 2016 |
[quote author=kennygee post=49401129]You will not hear now. Hope you will still be shouting "long live MMM" when ur money dies with them Keep on wishing his money dies with MMM, while he alway smiles to the bank.] |
| Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by ziego(m): 7:23am On Sep 16, 2016 |
I thought people have freedom to what they use their money for? What's all these They leave us in peace We love mmm If it close we still love it If it's scam leave us to be scammed The participants are not complaining My money grows 30% monthly LONG LIVE MMM |
| Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by cosade(m): 7:24am On Sep 16, 2016 |
Basildvalour:I am sure of the outcome. Only the few people that joined early would benefit (if not greedy to re-invest in the scheme) and the multitudes that joined later would lose out, because it is a scam. This scam is called the pyramid scheme. Read more here: https://en.m.wikipedia.org/wiki/Pyramid_scheme |
| Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by toluxa1(m): 7:24am On Sep 16, 2016*. Modified: 8:13am On Sep 16, 2016 |
Watch this Video to really Know what MMM is all about. Discard the deceit and lies that SEC, CBN and all these oppressors that will rather you remain under financial constraint spill. This warning is definitely not talking about MMM so I wonder why they put MMM there. If they are, then it's such a shame that they can release such a report based on an incredibly high level of ignorance of how the system even works. None of the well over 600 thousand members of MMM has ever deposited N1 to MMM, MMM doesn't collect your money. Where has CBN been when MMM has been changing lives. Where have they been when MMM has been spending millions in charity? Yeye people https://www.youtube.com/watch?v=mrLFaJcytFY THE MYSTIFIED 30% How to understand it. Its important you all understand this concept so much that you can easily explain it to others. Let's look at it from this practical point of view,99% of us here have bank account. Right? Good. We put our money in the bank because we Trust its safe there What do u think is the % of people who put their money in Banks? Do you know How many % of people in Nigeria has an account with First Bank? Yes you guess right! Let's say 70% of Nigerians. That's about more than 50million Nigerians. And Among these people are The Poor Middle class and Business men Companies Among this set of people are those who deposit their money in bank at different intervals and different amount. Right? And they withdraw at different intervals and different amount. That means If you deposit 200k Another person deposit 1million,Another deposit 2k,Another deposit 500k,Wenever you are withdrawing your 200k, Someone's elsewhere is depositing a huge amounts. To supplement ur 200k withdrawal. And this circle continued on and on. And becos of the population of people using the bank and different set of cash and different time of deposit and withdrawal There is 100% chances that you must get your money withdrawn whenever you need it. Anytime u go to bank to withdraw money That's the principle MMM is also using Its called Crowd Funding,The power of crowd funding, Banks And all financial institutions use the principle,That's is why the owner of this Banks are filty rich. Where do you Think Bank Gets money they loan out ( Yes our Money) You evidently give bank your money when you and all those who have account with the bank Crowd Fund(Deposition Remember I want to make this more practical. Look at this illustration, illustration U have 1million naira,U went to the bank And put it in a fixed deposit account With interest of 12% per year. U are happy As u leave the bank The business man comes And request to use ur 1million for biz Same bank charge him 35% He agreed Went to do biz wt ur money And make profit Pays d bank Ur 1million +35% At d end of d year U came and collect 12% Who is the fool among the 3?. And who is the king? They all get paid But one of them is the king. The Bank The B A N K. Now the bank collects our money. And loan it out To bizness men And make lots of money to pay d staff And enrich his life What happen to u d depositor.U get Nothing Not even 1% of ur deposit. Now MMM says No.Because of this unfair financial system.Sergie Mavrodi,Thought it necessary to look at d financial system and realized that, Banks survive because of the continues deposit and withdrawal of cash,At different intervals And because of the population of people who have an account wt d bank. Sergey Mavrodi decided that even bank with that principle can even give us 50% of our money monthly but they won't do it . The principle of crowding funding enable the bank to even give us more interest on our money monthly and nothing will happen.But because of the unfair financial system in place dey will never do it. He realized that if we can come together. Like those population with bank account example I gave earlier .If We can copy the same principle bank and financial institutions use to flouish We can do a lot . All it takes is just the Redistribution of cash flows. And the IDeology in MMM. The system provides that redistribution.And with a great community with same goal and mindset it can be achieved. Are u guys getting where am heading to?. because people deposit at different times Banks lives on .because people PH in MMM different times. MMM lives on because people wifhdraw in bank different times. Banks Lives on .because people GH in MMM different times. MMM lives on Because of the influx of PH and GH regular PH and GH there will always be 30% to Pay to everyone . Because of Regular Deposit and Withdrawal at different times and different amount there must always be money to withdraw in banks. What if everyone match to bank and withdraw their money same time same day what do u think will happen? Bank will collapse Same thing in MMM If every one GH at the same time MMM won't stand for long. So its our responsibility to keep this community strong thru regular PH and GH. The same principle Holds Bank and other financial bodies ***************** How does it Work You know about the popular word 'Contribution' where people contribute money to one person and there's a book where everyone's name is written. When it gets to your turn; everybody's money is given to you.... In MMM, we make pledges to donate our SPARE money to members who need the money. We do so by logging into our MMM account (Personal office) to make the pledge. We join the queue of people who made pledges after making the pledge. We ONLY make pledges. We don't gather our pledges to give to one person. In MMM there is no CENTRAL ACCOUNT (No bank account where all our pledges are paid into). Members transfer money directly to each other. Now, if a member in the community who has already made a pledge to provide financial help to another member and has fulfilled his pledge now needs help, he does that by logging into his MMM account (Personal Office) to say so. The system, connects him with the person in the queue for providing help. If it's your turn on the queue to provide help; when you log into your Personal Office, you will receive the details of the person to provide financial help to. As soon as you pay the money directly into the person's bank account who needs that financial help and that person acknowledges he has received the money, you are now qualified to receive help. You then log into your personal office to ask for financial help. Someone/people in the queue who's turn it is to provide help will be assigned to pay you 30% of the donation you provided + the donation money itself. Where does 30% come from? There is no interest rate in MMM. In MMM after you donated money, you can be rewarded with mavro. It is an index of your tributue to the development of the Community. This index grows 30% a month. It is just a technical issue. Programmers can adjust this growth rate of mavro at any moment. The amount of mavro and its growth rate can be decreased, increased, stopped, cancelled. The amount of mavro and its growth rate can be adjusted at any moment to balance PH (Providing Help) and GH (Getting Help). That's why MMM can't collapse due to weak inflow of donations. If the inflow of donations will decrease, the amount of mavro will be adjusted, but the main important that the process of donation exchange will not stop. It makes MMM stronger than the financial organizations. Financial organizations have obligations, if they do not meet them, they will go bankrupt. MMM is very flexible. No matter what will happen, people will provide and get help.
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| Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by afroxyz: 7:24am On Sep 16, 2016 |
Yes. I have made over a million in less than 5 months. Sorry I would pitch my tent with MMM. When MMM threads were opened to advise people on how to invest, they were blocked. Now a thread against MMM makes it to the front page. I think there should be balanced in the discretion of the mods |
| Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by mccoy47(m): 7:25am On Sep 16, 2016 |
Nigerians will never learn. Pls check out countries in the world that has been scammed by dem and countries dey have been banned! https://en.m.wikipedia.org/wiki/List_of_Ponzi_schemes |
| Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by tayooluwole: 7:26am On Sep 16, 2016 |
CBN should go and sit down, they are just condemining the scheme in the open, whereas they themselfs are doing it in the secret... To hell with CBN |
| Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by ziego(m): 7:26am On Sep 16, 2016 |
[quote author=Eyodemadrid post=49401496][/quote] |
| Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by ziego(m): 7:26am On Sep 16, 2016 |
tayooluwole:Lol |
| Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by slightlyMad(f): 7:27am On Sep 16, 2016 |
Pierocash:you are wrong, MMM system will send their account numbers to a large number of members to pay huge sums then shut down and withdraw the money from that account. just pray you are not among the last batch that will suffer this. |
| Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by mccoy47(m): 7:28am On Sep 16, 2016*. Modified: 8:46am On Sep 22, 2016 |
cosade:Thank you my brother! Funny thing is that, this is the same ppl that would curse and blame Buhari when it all falls like a pack of cards! Globally in the list of ponzi schemes MMM name is conspicuously present My ppl a word is enuff for the wise!!! |
| Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by ziego(m): 7:28am On Sep 16, 2016 |
[quote author=Eyodemadrid post=49401496][/quote]Depends on what is dying with them I started with 10k Now am making over 200k per month Then is it my 10k that will die? I have invested in so many places with mmm money So what is dying MMM generates money I use to build investments |
| Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by Nobody: 7:28am On Sep 16, 2016*. Modified: 5:31pm On Sep 17, 2016 |
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| Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by madridguy(m): 7:29am On Sep 16, 2016 |
God bless you my brother for taking your time to do this insightful analysis. I was introduced to MMM 2 months ago but since I don't have anyone to give me orientation but my friends took the risk with 50K and I was like the gamble is too much now the guy is smiling to the bank while I have spent all I'm having on food. So painful naira0: |
| Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by friendl: 7:30am On Sep 16, 2016 |
Is this country cursed ? |
| Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by charlsecy(m): 7:30am On Sep 16, 2016*. Modified: 8:26am On Sep 16, 2016 |
CBN doesn't even understand how MMM works. You can't condemn something based on completely wrong information. |
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