"Stop Investing In MMM" - CBN Warns Nigerians Again - Investment (2)

Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,153,740 members, 7,820,548 topics. Date: Tuesday, 07 May 2024 at 04:54 PM

"Stop Investing In MMM" - CBN Warns Nigerians Again - Investment (2) - Nairaland

Nairaland Forum / Nairaland / General / Investment / "Stop Investing In MMM" - CBN Warns Nigerians Again (29121 Views)

Pending PH Order In MMM Share Your Experience / Help !!! My Younger Brother Invested My N1.7m In MMM / Don't Invest In MMM Again If You Love Your Self And Please Tell Your Family (2) (3) (4)

(1) (2) (3) (4) (Reply) (Go Down)

Re: "Stop Investing In MMM" - CBN Warns Nigerians Again by chemystery: 12:45pm On Dec 15, 2016

leave dem

Re: "Stop Investing In MMM" - CBN Warns Nigerians Again by Lagusta(m): 12:45pm On Dec 15, 2016

Lol

Re: "Stop Investing In MMM" - CBN Warns Nigerians Again by princeakins(m): 12:45pm On Dec 15, 2016

Story story cheesy

Re: "Stop Investing In MMM" - CBN Warns Nigerians Again by Nobody: 12:46pm On Dec 15, 2016

paradigmshift:
make una shut up

See frustration grin

How much of your money is stuck there?

Re: "Stop Investing In MMM" - CBN Warns Nigerians Again by monkytail(m): 12:46pm On Dec 15, 2016

MY MONEY....MY PROBLEM MY MMM....MY ACCOUNT...
#Nigeriansarehungry

Re: "Stop Investing In MMM" - CBN Warns Nigerians Again by adewumiopeyemi(m): 12:46pm On Dec 15, 2016

so na so mmm money don go i do die na so my 100k go lol wetin i fit do nw

Re: "Stop Investing In MMM" - CBN Warns Nigerians Again by Nobody: 12:47pm On Dec 15, 2016

Re: "Stop Investing In MMM" - CBN Warns Nigerians Again by yinkslinks(m): 12:47pm On Dec 15, 2016

Blessed with many resources and yet u keep selling dollar higher for ur personal interest. MMM has come to stay. Like it or die hating.

adewales4:

The Central Bank of Nigeria (CBN) has once again cautioned the citizenry against investing in the ponzi scheme, Mavrodi Mundial Moneybox (MMM).

The scheme operators stopped the accounts of its investors in Nigeria few days ago.CBN Director of Development Finance Dr. Mudashiru Olaitan gave the warning at a business leaders’ conference with the theme: “Prospering in a recession”, organised by EZ37 Solutions in Ibadan.

He called on Nigerians to be careful in investing their resources, especially at this period of economic recession.

According to him, the nation is blessed with many resources and businesses that could bring returns at minimal risks, urging people to embrace agriculture instead.

Olaitan, who was represented by the Head of CBN Development Office in Ibadan, Mr. Banji Akinola, said the Ponzi scheme has become a national embarrassment with the scheme’s operators insulting the Nigerian government just because it cautioned the people over the scheme.

A university don from the Department of Economics, Obafemi Awolowo University, Ile Ife, Prof. Funmi Soetan, who spoke on the theme of the conference, advised companies to consider cutting the cost of production through waste elimination rather than laying-off workers.

According to her, Nigerian economy is passing through a difficult phase of the business cycle.

Factors responsible, she said, include Nigeria’s overdependence on oil revenue, the adverse impact of the increase in global crude oil supply, fall in global oil prices, slow and declining growth in China, the BRICs and Europe, rising global and local terrorism and its attendant insecurity in Nigeria.

Other factors listed by Prof. Soetan include corruption and poor management of Nigeria’s oil revenue, the decline in external reserves and CBN devaluation of the Naira.

An associate professor at the Nigerian Institute of Social and Economic Research (NISER), Mr. Femi Ogundele, stated that the immediate consequence of recession was that businesses might cut employees, which translate to more work being done by fewer people.

The Chief Executive Officer of EZ37, Adaora Ayoade, stated that the effects of recession on the business community were challenging, urging firms to engage the situation in an informed, constructive and pragmatic manner.

Source: http://nigerianewsnow.com.ng/2016/12/15/stop-investing-in-mmm-cbn-warns-nigerians-again/

2 Likes

Re: "Stop Investing In MMM" - CBN Warns Nigerians Again by soldierdollar(m): 12:47pm On Dec 15, 2016

takenadoh:
CBN isn't this too late!?

it is a shame that everything about MMM and co is now making FP news, I thought this rule prohibits that?

"Don't promote shady investments like betting, HYIP, MLM,
FOREX, binary options, and cryptocurrencies on Nairaland"

anyway who am I.

I think you should go back to your dictionary and check the meaning of "promote " then tell us how this news promotes MMM

Re: "Stop Investing In MMM" - CBN Warns Nigerians Again by Wizteaser: 12:47pm On Dec 15, 2016

I thought the same Nigerian govt. said mmm has crashed which one is he saying we should not invest our money in or have they suddenly realized their lies?.

Re: "Stop Investing In MMM" - CBN Warns Nigerians Again by vani86: 12:48pm On Dec 15, 2016

Why dont cbn list the true cause of recession in nigeria apart from shouting fall in oil price. Yes we know that alreadt but what of

1 the terrible monetary and fiscal policies naively proposed by the govt

2 people appointed to positions they ait qualified for but due to loyalty.

How then do you expect the economy to grow.

Anyway sorry for those who lost their money. MMM paid me well d only difference was i knew to avoid December wahalla and cashed out as far back as oct.

Re: "Stop Investing In MMM" - CBN Warns Nigerians Again by soldierdollar(m): 12:48pm On Dec 15, 2016

Raph01:
Make una shut up jare... Diz MMM tin dorn dey boring already.. Make we hear word

Re: "Stop Investing In MMM" - CBN Warns Nigerians Again by Hiploko(m): 12:48pm On Dec 15, 2016

Mods don carry am go sharp sharp... Thought they celebrated the death of MMM? How come they are warning that people shouldn't invest? Can one invest in a dead venture? Confused people... MMM rocks!!!!

3 Likes

Re: "Stop Investing In MMM" - CBN Warns Nigerians Again by paradigmshift(m): 12:48pm On Dec 15, 2016

Martins301:

See frustration
How much of your money is stuck there?

Na you dey frustrated. annoying when people put d matter for head like say na their money. I no even send the Mmm one bit. I be sure internet gangster

1 Like

Re: "Stop Investing In MMM" - CBN Warns Nigerians Again by zangiff(m): 12:50pm On Dec 15, 2016

..............

Re: "Stop Investing In MMM" - CBN Warns Nigerians Again by vRendoh(m): 12:50pm On Dec 15, 2016

[quote author=AfonjaStinks post=51950959][color=#770077][size=10pt]

CBN IS A BIG JOKE

MMM CREATED MORE SOURCE OF INCOME FOR PEOPLE MORE THAN THE FEDERAL GOVERNMENT OF NIGERIA

MMM FEEDING NIGERIANS SINCE 1943

MMM WILL BE BACK IN JANUAR
Amio

1 Like

Re: "Stop Investing In MMM" - CBN Warns Nigerians Again by Nobody: 12:51pm On Dec 15, 2016

paradigmshift:

Na you dey frustrated. annoying when people put d matter for head like say na their money. I no even send the Mmm one bit. I be sure internet gangster

Swear say your money no dey there... cheesy

Which internet biz u cm dey do?

1 Like

Re: "Stop Investing In MMM" - CBN Warns Nigerians Again by Zedoo(m): 12:51pm On Dec 15, 2016

Shattap dia. And carraway you

Re: "Stop Investing In MMM" - CBN Warns Nigerians Again by Mrnoniz(m): 12:52pm On Dec 15, 2016

Re: "Stop Investing In MMM" - CBN Warns Nigerians Again by palsenator(m): 12:53pm On Dec 15, 2016

takenadoh:
CBN isn't this too late!?

it is a shame that everything about MMM and co is now making FP news, I thought this rule prohibits that?

"Don't promote shady investments like betting, HYIP, MLM,
FOREX, binary options, and cryptocurrencies on Nairaland"

anyway who am I.

What is shady about forex and binary? I am a forex trader with results. If you don't know about it, why not shut up. We have registered offices of forex brokers in Nigeria and it is no way a scam . The problem with people like you is that you have not taken time to learn about force before jumping into it. Don't speak on what you don't know .

Re: "Stop Investing In MMM" - CBN Warns Nigerians Again by michaelemenine: 12:55pm On Dec 15, 2016

Do we still need to warn at this stage?

Re: "Stop Investing In MMM" - CBN Warns Nigerians Again by suremossty(m): 12:56pm On Dec 15, 2016

Thank you.

The problem here is misinformation, not MMM crashing, and sadly enough, most MMM participants do not even understand what the freeze is about.

Normally when you pay in or provide help, your investment is frozen for two weeks, after which you're eligible to withdraw, but they decided that because of the Xmas rush they should extend that freeze period to one month, so people can only request for money only after a month of confirmed payment, (this one month period is relative to when anyone makes his/her payment, and not a unified one month period: eg. If I make a confirmed payment on the 2nd of December, my one month period will last till the 2nd of January, after which I can withdraw, and if another person makes a confirmed payment on the 7th of December, his one month period will elapse on the 7th of January, after which he can withdraw) so, I am actually surprised why people are making up all these news to scare others, even the MMM participants who never had any reason to complain about the usual two weeks freeze period...Is it because they said the new system will last until second week of January? It only means that freezing period of one complete month will continue to be in practice until second week of January, and not that nobody can withdraw until second week of January.

Please I haven't benefited from MMM (not yet though) , so, I think my insight on the issue isn't biased.

2 Likes 1 Share

Re: "Stop Investing In MMM" - CBN Warns Nigerians Again by takenadoh: 12:57pm On Dec 15, 2016

soldierdollar:

I think you should go back to your dictionary and check the meaning of "promote " then tell us how this news promotes MMM

You may not be aware but millions of people joined MMM after the news about MMM Zimbabwe's crash. maybe you should ask Kim K. about publicity there is nothing like "bad press" and for your information I only copied one of the NL rules.

1 Like

Re: "Stop Investing In MMM" - CBN Warns Nigerians Again by suremossty(m): 12:58pm On Dec 15, 2016

Martins301:

Swear say your money no dey there...

Which internet biz u cm dey do?

The rate at which some people are happy that MMM has suspended payment till next year January 2017 is really alarming. They even claim the scheme has crashed when it's evident that it hasn't.
With the advent of government, private /public institutions and individuals opposition to the scheme i'm really convinced that there is an unseen hand or rather a secret society running Nigeria's financial sector that doesn't want any form of opposition and also seeks to create more debtors and spread poverty rather than millionaires that MMM is making.

2 Likes

Re: "Stop Investing In MMM" - CBN Warns Nigerians Again by takenadoh: 12:59pm On Dec 15, 2016

palsenator:
What is shady about forex and binary? I am a forex trader with results. If you don't know about it, why not shut up. We have registered offices of forex brokers in Nigeria and it is no way a scam . The problem with people like you is that you have not taken time to learn about force before jumping into it. Don't speak on what you don't know .

please I only copied NL rule number 16.

no be me write am. ask S.eun and co.

1 Like

Re: "Stop Investing In MMM" - CBN Warns Nigerians Again by bejeria101(m): 1:00pm On Dec 15, 2016

Abeg shut up! Na 6.33k naim i go wait a month for? U cant control it or manipulate it,e dey pain you,go self-service otondo!

Re: "Stop Investing In MMM" - CBN Warns Nigerians Again by Zedoo(m): 1:01pm On Dec 15, 2016

adewumiopeyemi:
so na so mmm money don go i do die na so my 100k go lol wetin i fit do nw

What of person wey PH on 11th 600k nko? Mk I'm die?
Bros kpomkpi. Nothing dey sup.
U go still geh ur block

Re: "Stop Investing In MMM" - CBN Warns Nigerians Again by paradigmshift(m): 1:01pm On Dec 15, 2016

Martins301:

Swear say your money no dey there...

Which internet biz u cm dey do?

nah I too big to lie for DT crap. was introduced but I no like all those kind . wen I heard d crash, Na me first call my guy say how fr, till now self d guy get hope pass buhari lol. I am annoyed because different stories just dey come out from left right centre in less Dan 24hrs just to make matters worse for people wey their owo dey d mata. I be sure guy internet gangster. u suppose grab abi you no b guy man

Re: "Stop Investing In MMM" - CBN Warns Nigerians Again by Nobody: 1:02pm On Dec 15, 2016

samtee37:
Abeg we don hear oo......... But they shud return my school fees first ooo

Re: "Stop Investing In MMM" - CBN Warns Nigerians Again by nmreports: 1:02pm On Dec 15, 2016

...

Re: "Stop Investing In MMM" - CBN Warns Nigerians Again by suremossty(m): 1:03pm On Dec 15, 2016

soldierdollar:

I think you should go back to your dictionary and check the meaning of "promote " then tell us how this news promotes MMM

How is ur own success relies on other people's trying time?... let's apply some decorum pls... MMM rocks like cr7... just Ph again another 100k again, who cbn epp?

Re: "Stop Investing In MMM" - CBN Warns Nigerians Again by ethankareem(m): 1:04pm On Dec 15, 2016

Dey call it investing like we payin into an mmm account.......

(1) (2) (3) (4) (Reply)

Patricia Suspends Withdrawal; Loses Funds Due To A Security Breach / 3 Men Arrested In Benue Catholic Church Over Ponzi Scheme / How The Founder Of MMM Nigeria Mavrodi Was Found And Arrested For Fraud

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 40
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.