MMM Nigeria Coming Back to Normal as It Announces Lifting of All Limits on 2017 Participants

MMM Nigeria has announced that there are no more limits on its participants (Mavros) acquired in 2017. However, those from 2016 remain under restriction.

MMM

 

The organizers of Nigerian faction of the popular Ponzi scheme Mavrodi Mondial Moneybox (MMM) has said the scheme is coming back to normal and that all limits on MMM have been lifted.

 

The statement on nigeria-mmm.net posted on Thursday read;

‘MMM Nigeria lifts all the limits for Mavro, acquired in 2017. So, MMM Nigeria is coming back to normal.

 

“Dear members, MMM Nigeria lifts all the limits for Mavro, acquired in 2017. So, MMM Nigeria is coming back to normal,”.

“And now the members can actively develop the community and create new requests to provide help.

“For these requests, orders will soon arrive, and after Mavro’s confirmation it will be possible to withdraw these Mavro without any restrictions or limits.

“Only Mavros acquired in 2016 remain under restriction. But we are actively working on new measures to make it possible for the members to withdraw Mavro 2016 in a larger amount without undermining the sustainability of the community.

“We have collected the screenshots of personal offices of members who received orders for their GH requests. Spread the screenshots via chats, social media and messengers. Let everyone know that MMM Nigeria is working. Every Nigerian should be aware that MMM is functioning well. It is very important.”

 

They also posted the below message to help those seeking more clarifications;

 

I hope it will be enough to answer some of the questions that might be begging for answers in our minds.

Few questions raised by participants

Q. If I PH in 2017, will i be able to GH?

A. Yes. You will be able to GH all your 2017 donation plus 30%

Q. I PH in December but paid in Jan, is that 2017 PH?

A. NO. it is still 2016 Mavro.

Q. What of my 2016 Mavro, how will i GH?

A. There is limit on 2016 Mavro. this means you will be able to GH but not everything. for now, you can only GH all 2017 mavro

Q. But its showing zero when i tried to GH, what do i need to do?

A. Participant that already PH are able to GH part of 2016 mavro. You probably need to PH before you GH part of 2016 Mavro. So kindly PH.

Q. Why are they attending to 2017 before 2016 Mavro?

A. For 2016 Mavro to be paid, new PH is needed. thus 2017 PH is needed. this can come from new participant and existing one. but in order to encourage 2017 PH, there will be no limit on it.

Q. If all 2017 Mavro is paid first, will there be PH left for 2016?

A. Yes. That is why we all need to PH something. no matter how small. remember, in 2016, when everything was going on fine, we waited for like 21 days before we are paired to make payment, it was because there are much PH on ground. If we have much PH on ground now, it will be used to cater for 2016 Mavro. things will work well.

Note: Your PH is someone’s GH. we make ourselves smile. PH only your spare money and make the money available as u can be paired at anytime.

#IstandWithMMM

#MMMPays

#WeAreMMM

#NoFakePOP

 

Source: Vanguard

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Finally! The Man Behind MMM Nigeria Has Been Revealed... See Interesting Details About Him

The man behind the emergence of the popular financial scheme, MMM Nigeria, has been unveiled as new information about him emerges.

 Pastor Ernest Chigozie Mbanefo

 

One Pastor Ernest Chigozie Mbanefo, a Nigerian, has been revealed as the mastermind of the suspected Ponzi scheme known as MMM Nigeria.

 

The man is reportedly based in South Africa.

 

Nigerian Communications Week, NCW, said Mbanefo registered the site MMM-Nigeria.net domain on June 7, 2016 at about 5 pm Nigerian time.

 

The News Agency of Nigeria, NAN, quoting NCW And Pageone report written as far back as September said Mbanefo made a single year domain payment.

 

The domain will expire on June 7, 2017.

 

It was also revealed that MMM Nigeria is not part of MMM Global – a Russian company that was responsible for one of the world’s largest Ponzi schemes in the 1990s. MMM Global was founded by Russian politician 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 (MMM) But like MMM Global, the Nigerian scheme is also a pyramid marketing scheme where an investor gets a 30 per cent return on investment.

 

Around the world, MMM is feared.

 

In January 2016 the Chinese government banned MMM on the grounds that it is a pyramid scheme, (Ponzi scheme), and it is not registered in the country (and as a fraudulent scheme cannot be registered.

 

MMM recently crashed in Zimbabwe: Thousands of ‘Mavrodians’ in Zimbabwe were left in tears when the scheme crashed, losing tens of thousands of their lifetime savings.

 

PageOne gave Mbanefo’s address as 1 ROYAL STREET, LINDBERG PARK, JOHANNESBURG, SOUTH AFRICA.

 

According to Page One, on the 15th of July, Ernest was awarded a certificate of completion of an online course titled ‘MMM Guiders School’. The certificate was supposedly signed by Sergei Mavrodi himself. He has since given himself the nickname the ‘Super Guider of MMM’.

 

To share news and information about MMM, Ernest also operates a subdomain ‘news.mmm-nigeria.net. The site praises him and projects him as the leader of the Ponzi Scheme in Nigeria.

 

He is described as: 'MMM Nigeria Super Guider; Pastor Ernest Mbanefo, has been selflessly helping thousands of MMM Nigeria Participants whether or not they fall under his downline structure. The brain behind the MMM NIGERIA REVOLUTION operation has been working selflessly and tirelessly towards the education, information and proper guidance for the MMM Nigeria Community’

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MMM Member Cries Foul, Blasts CBN and House of Reps (Watch Video)

Ibraheem Musa Usman who is a member of Mavrodi Mondial Moneybox in Kano has vented his anger on the House of Representatives for directing the EFCC to arrest promoters of the investment scheme.

Ibraheem Musa Usman

 

Following the decision of the House of Representatives to direct and issue warning to the Central Bank of Nigeria and the Economic and Financial Crimes Commission to immediately arrest promoters of Mavrodi Mondial Moneybox, otherwise known as ‘MMM’ in Nigeria, a member of the group has come out to defend it. 

 

Ibraheem Musa Usman from Kano made a video to defend the investment scheme and blasted the House of Representatives for trying to tarnish the image of the promoters and the business scheme. He urged the House of Representatives to set their priorities straight instead of poke-nosing into affairs that doesn't concern them. 

 

It has been argued that the scheme is something encouraging as it delivers for most Nigerians who have been bashed by the harsh economic recession. Many people have called for a more friendly negotiation between the promoters and the CBN whereby the scheme can be registered and an office created for any avoidance of doubt. 

 

Usman called on CBN and the House of Representatives to desist from tarnishing the image of the scheme as many Nigerians have now been made to believe that the business scheme is scam.

 

It would be recalled that the House of Representatives on Wednesday, ordered the Economic and Financial Crimes Commission (EFCC) and the Central Bank of Nigeria (CBN) to immediately go after the promoters.

 

It specifically asked the EFCC to arrest MMM promoters and prosecute them. Most of the lawmakers who added to the discussion opposed the investment scheme and labeled it scam.

 

MMM gained popularity recently in Nigeria following the current economic recession in the country. 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.

 

The lawmakers warned Nigerians to be careful as this is yet another trick investment fraudsters use to attract people before vanishing with their money. The House directed the EFCC, security agencies and the CBN to take urgent steps to halt the scheme before many Nigerians would become victims of the scam.

 

Watch video below:

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CBN Issues Stern Warning to Nigerians on MMM...See Details

Nigerians have been given serious warning by the Central Bank of Nigeria over the controversial MMM scheme.

 

The Central Bank of Nigeria has warned Nigerians not to patronize the so-called ‘wonder banks’, as their activities were not regulated by it. The warning was issued on Monday by the Head, Consumer Protection Department, CBN, Hajiya Kadija Kassim.

 

Kassim stated this during a mentoring programme for students of the Government Secondary School, Suleja, Niger State. The programme held simultaneously in over 200 schools as part of activities to mark the World Savings Day.

 

‘MMM Federal Republic of Nigeria (nigeria.mmm.net)’ also called “mutual aid financial network,” is said to come with a monthly investment return of 30 per cent. But, the CBN said anything could happen to people who invested in the scheme as it is not regulated by the apex bank. 

 

Kassim, while responding to a question asked by one of the students, described the scheme as fraudulent since it was not supported by any business model. 

 

She said, “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.”

 

She said the theme of this year’s World Savings Day, ‘Don’t save what is left after spending, but spend what is left after saving’, would assist in creating the needed awareness on the need to save.

 

She added, “The World Savings Day is a tradition created with the objective of stressing the importance of savings for modern economies and individuals alike.

“The primary objective is to increase awareness on financial literacy among various segments of the general public to sensitise them to the importance of saving, earning a livelihood, inculcating a savings habit, and generating employment and entrepreneurship for personal and national development.”

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CBN Warns Nigerians Against 'MMM' Wonder Bank...See Shocking Revelations

The apex bank in Nigeria has warned Nigerians against the trending Ponzi scheme giving participants 30% interest on their saved funds.

Godwin Emefiele

 

The Central Bank of Nigeria (CBN) has warned Nigerians to be careful of any deposit money institution that is not insured by the Nigeria Deposit Insurance Corporation (NDIC) especially the trending MMM Nigeria community.

The bank through its the acting Director of Corporate Communications, Mr. Isaac Okoroafor, made this known yesterday against the proliferation of wonder banks in the country in recent times, ThisDay reports.

Okoroafor said such deposit money institutions were dubious present Ponzi schemes.

“At times like this when the economy has suffered some decline, Nigerians should be very careful with those they deal with. Any institution that is not licensed by the CBN to accept deposits should not be given money to keep under any guise,” he advised.

He warned Nigerians to beware of the so-called wonder banks, explaining that they were makeshift institutions to dupe people.

“We can vouch for the banking system. The deposit money banks are the only licensed institutions to take deposits. If you need to deposit money in any form, go to any of the deposit money banks and put your money, you can buy fixed income instruments or invest in stocks,” he said.

Okoroafor said the CBN could not guarantee the unregistered institutions, insisting that when depositors lose money to them, the bank would not be able to help them.

“These people always come with very interesting propositions. These are fraudsters who are just out there to collect people’s money and run away as soon as they hit their target. There is no insurance because the NDIC does not even protect them against such risks when they occur,” the CBN said.

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