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MMM Is Fraudulent, Don’t Invest In It, CBN Warns Nigerians

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MMM

MMMThe Mavrodi Mondial Moneybox popularly called MMM, is a fraudulent scheme and should not be patronized by Nigerians, the Central Bank of Nigeria (CBN) has again warned.

MMM, which prides itself as a community of ordinary people selflessly helping each other, is fast gaining traction among Nigerians especially with its tempting offer of 30 per cent returns on amount of provided “help”.

It would be recalled that two months ago, the CBN, through its Acting Director of Corporate Communications, Isaac Okoroafor, warned Nigerians against putting their money in any institution that is not insured by the Nigeria Deposit Insurance Corporation, especially MMM.

Reiterating the warning on Monday, the Head of Consumer Protection Department of the CBN, Kadija Kassim, pointed out that activities associated with MMM are not regulated by any institution.

Speaking during a mentoring program for students of Government Secondary School, Suleja, Niger State, Kassim warned against participating in MMM Federal Republic of Nigeria, calling it a “wonder bank”.

In her words, “We have heard about the activities of MMM.

“But I want to warn you against it because they are wonder banks that are not regulated.

“Desist from their activities because they are fraudulent.

“Don’t save what is left after spending, but spend what is left after saving”.

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7 Comments

7 Comments

  1. Oliver Ogeh

    November 1, 2016 at 6:32 pm

    waiting we no go see

  2. teebaby

    November 1, 2016 at 7:50 pm

    Reminds me of Nospetco n Co of those days… would def crash soon…

  3. freeman

    November 2, 2016 at 6:10 am

    Let it crash if e wan crash… afterall it’s our money… I won’t desist from it until it crash on my head…. MMM ( together we change the world)

  4. Kc

    November 2, 2016 at 7:45 pm

    Let it crash, I have refunded money to people so continue talking while I make money

  5. Queen

    November 2, 2016 at 8:10 pm

    Is it your money CBN? Was the money borrowed from you? What part have u played to better anyone’s life? MMM lives on. Get used to it

  6. Jay

    November 2, 2016 at 8:49 pm

    God knows best

  7. Titi

    November 3, 2016 at 4:59 am

    If it crashes, it is because Nigerians panicked. DO NOT panic. You know mouth can spoil a lot of things!

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Shehu Sani Mocks FG Poverty Alleviation Scheme

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Shehu Sani Mocks FG Poverty Alleviation Scheme
Shehu Sani Mocks FG Poverty Alleviation Scheme

Shehu Sani

Civil Rights activist and former Senator representing Kaduna Central Senatorial district, Shehu Sani has mocked the President Muhammadu Buhari-led administration plan to lift Nigerians out of poverty.

Recall that President Buhari administration has constantly reiterated plans to lift 100 million Nigerians out of poverty in 10 years.

Also Read: #EndSARS: Hoodlums vandalize Senator Gershom Bassey’s family house in Calabar

However, the last few days have seen Nigerians discover warehouses where COVID-19 palliatives are stored by state governments which have led to the raiding of the warehouses by Nigerians.

Reacting to the development, the former lawmaker described the move to be the consequence of Nigerians being tired of having to wait for 10 years to be lifted out of poverty.

See his tweet below:

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Nigerians React As Festus Keyamo Shades Youths Over #EndSARS Protests

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Festus Keyamo
Festus Keyamo

Festus Keyamo

Nigerians have expressed their distaste for the tweet posted by Festus Keyamo over the #EndSARS protests that has led to lives and property being destroyed by hoodlums.

The Minister of State, Labour & Employment took to his Twitter page on Friday morning to post a tweet that reads thus:

“This morning, I woke up and remembered the African proverb: WHAT AN OLD MAN CAN SEE SITTING DOWN, A YOUNG MAN CAN’T SEE EVEN IF HE CLIMBS THE HIGHEST IROKO TREE. Good morning, Lagos. Good morning, Nigeria.”

Read AlsoMinister Of Labour, Festus Keyamo Backs #EndSARSProtest

A Twitter user identified as Adesina Oluwafemi berates the SAN for being a part of bad governance. “Mr. Keyamo. I am astonished at your statement. I am equally as old as you are if not older and I feel the pain of this our youth. I even have classmates that I can’t boast of. All these is because of bad governance which u are a part of“, he wrote.

See tweets below:

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Nigerians React As Army Says Videos Of Lekki Shooting Are Photoshopped, Fake

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Nigerians React As Army Says Videos Of Lekki Shooting Are Photoshopped, Fake
Nigerians React To Defence Spokesperson's Statement That Videos Of Lekki Shooting Were Photoshopped

John Eneche

Nigerians have reacted to the video of Nigeria’s defence spokesman, John Eneche, saying that the videos of the Lekki Tollgate shooting were photoshopped. In the video, he said it was analysed and the analyst concluded that they were all doctored.

His statement has generated reactions from Nigerians. Taking to Twitter, many Nigerian users on the micro-blogging platform have dismissed his statement as false because it is impossible to photoshop a live video on Instagram.

Read AlsoEnd SARS: Gen. John Enenche Reacts To Lekki Toll Gate Shootings

Information Nigeria recalls DJ Switch was hailed by Nigerians for her bravery as she waited at the scene of the incident to give everyone a live footage via her Instagram page.

A user identified as Tolani tweeted:

“Dear generation old Nigeria… you cannot photoshop Instagram live. Your ‘analyst’ has 419’d you sir.”

See tweets below:

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