MMM defies Nigerian parliament, marks one year anniversary

November 20, 2016Nicholas Ibekwe

House of Representatives

Despite the call by Nigeria’s House of Representatives for the country’s financial regulator and law enforcement agencies to crack down on pyramid financial scheme called MMM, members of the community across the country have celebrated the first anniversary of the scheme with donations to Internally Displaced Persons (IDPs) and other indigent people.

A member of the country’s lower chamber, Akinlade Fijabi from Oyo State, who raised the matter in a motion of urgent national importance described MMM as a ‘Rob Peter to Pay Paul Scheme’.

PREMIUM TIMES reported how, after deliberations, The House, asked law enforcement and regulatory agencies to clamp down on the promoters of MMM.

Some Nigerians have also described the scheme as a Ponzi destined to go burst. But the number of Nigerians participating in the scheme has continued to grow exponentially. There are now over 2 million active members of the scheme in the country.

As the scheme, which its participants like to refer to as “a community of mutual aid and donation exchange” marked its first anniversary on Friday, members across the country donated cash and relief materials to the less privileged.

The News Agency of Nigeria (NAN) reports that members of the MMM community as part of its humanitarian week tagged, “MMM Cares” donated relief materials to IDPs at the Gwoza and Bama Camps in Abuja.

The group donated bag of rice, garri, cartons of beverages and noodles as well as clothing, and drugs.

Seyi Bello, a Guilder in the ‘MMM Community’ said they were driven to make the donation by their desire to affect the society positively and help the less-privileged.

“We are marking our first year anniversary and we have decided to come and celebrate it with our brothers, mothers and children in the camp.

“As a community, we do not only provide help to our members, we also extend that to the larger society as part of our social responsibility.

“In these times of economic challenges, the IDPs are the ones that need help and support more than any other person; that is why we visited them today,” he said.

He said that the relief items were bought from free-will donations of members in their quest to touch lives positively.

He said: “The N5 million was raised from voluntary donations by members in the FCT.

“That is what defines us as a community of people providing financial help to each other on the principle of reciprocity and benevolence.

“In MMM there are no lenders and no debtors. One participant asks for help, another one helps.’’

Similarly, in Ibadan, Naij, an online media, reports that MMM community members in the city donated N2.5 million to hospital patients.

The community, which tagged its charity donation “Save a life”, said it was part of the reason the group was formed.

“And part of the motive of the organization is providing for the less privileged. We have come here and seen that there are a lot of people in need financially and we are here to render the assistance.

“We believe that if we save these people’s lives today, they would be the ones to save other people’s lives tomorrow.

“We are here to also enlighten people that the scheme is not a scam and to enlighten them on social responsibility by the community”, said Eleyele Benjamin, one of the community leaders.

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Top News

dami

CBN, NCC, EFCC where art thou?
Shut down this Ponzi scheme once and for all.
- musa Ayo
  
  …and leave Nairabet, Nigeria security exchange commission that have sent thousand of people to their early grave, unrealistic bank interest loan etc.
  The participants have not reported to anybody on been duped or something like that. What is then the reason for restricting them? It is instead a challenge to the Federal government who have no serious plan for the populace .
  - Nkem
    
    So, Mr. MMM, tell me, which bank loan today charges you 30% interest per month? That is more than 360% a year?
    - musa Ayo
      
      Is it that you have not already made your research on the 30% in MMM? I urge you do that and understand better. Nobody is charging any individual 30%.
      - Nkem
        
        But you pay the money lenders 30%. So where does the 30% come from?
      - musa Ayo
        
        It is coming from new participants. New participants includes the old ones reinvesting. I urge you to google it and have more elaborate knowledge please.
      - Nkem
        
        Aha! Exactly the point. So you collect from one set of investors to pay another set of ‘investors’.
      - musa Ayo
        
        Even the banking system does that. It can only crash when people stop putting their money. This is true of banks too. Imagine that all depositors decides to withdraw their money on the same day, will the bank not crash? As long as people are willing to provide help PH(deposit as in the bank) then people will keep getting help GH (withdrawall as in the bank) . it is a continuous process.
      - Tola
        
        The banking system does not take money from new depositor to pay interest to another. The bank lends your money at a premium and pays you interest less than the premium charged to cover expenses and risk of default. We can condemn the spread charged by the bank but to now allow a Ponzi scheme that pays interest from another depositor’s (helper) deposit will end in tragedy. You can celebrate one year anniversary with fanfare but my people say ‘The Child that curses the Iroko tree and looks back has forgotten that the repercussions are not immediate’. When they come, they come in torrents and are calamitous.
      - musa Ayo
        
        I am not ruling out risk here as no system is 100% free of it. What I am saying is that if other ‘risk’ laden organizations are allowed to fester, let the government also leave this one too. After all several Banks have bankrupt leaving depositors in despair. It is nobody’s business what an adult decides to do with their money. Period.
      - Tola
        
        Yes it is nobody’s business what I do with my money but I am not allowed to set up a platform that targets Nigerians, both young and old, informed and uninformed, to exchange funds amongst themselves in a scheme that has certainty of failure. Banking has implicit risk and regulators fine tune rules to ameliorate and reduce the risk. Betting is gambling and has stringent rules about age limit and location. But this is a scheme that has certainty of elongating and compounding unredeemed helpers until it collapses due to helper fatigue or regulatory action. We don’t talk of risk here, we talk of certainty of failure, the only question is the time.
      - joe
        
        If MMM is a scam let it be.After all its my money and l don’t need any adviser on how to invest my money.Anybody that is angry with MMM should not engage in it period. Why are people angry over another person’s affair.?.
      - Nkem
        
        No, the kind of society you have in mind is called a jungle. The state has an obligation to regulate social interaction. It is the one the one instrument that ultimately stops the strong taking advantage of the weak.
      - Good Guy
        
        Very well said. Thanks
      - Rosemary
        
        there’s another one ooo. lemme see what the FG will do about it – icharity – a peer-to-peer funding scheme. for more info call me or whatsapp me on 07039879194 or 08102630977.
      - Oluchukwu Precious Okeke
        
        So who regulate apc change???
      - Rosemary
        
        MMM is real ooo. Don’t mind them. Have u heard of icharity – a peer-to-peer funding scheme? for more info call me or whatsapp me on 07039879194 or 08102630977.
      - Rosemary
        
        MMM has come to stay. There are other ones among which is known as iCharity: a peer-to-peer funding scheme. very easy. we help you out. just call or whatsapp me on 07039879194 or 08102630977
      - Rosemary
        
        Among others, apart from MMM, is another one called iCharity: a peer-to-peer funding scheme. You need not do anything. Our efficient and effective Admin are ready to help you. Just relax dey chop money dey go. Just call or whatsapp me on 07039879194 or 08102630977. See u at d top
      - Rosemary
        
        Apart from MMM and others is iCharity: a peer-to-peer funding scheme. You need not bother doing anything as we have effective leaders who are there to make u sit-down-dey-chop. Just call or whatsapp me on 07039879194 or 08102630977. See u at d top
      - NanaJ
        
        its true , but not really a continuos process.
      - Epsilon_Delta
        
        Banks are duly registered, they have known assets, known directors and they pay tax! They are also regulated by CBN, today, they just can’t run away with your money.
      - Oluchukwu Precious Okeke
        
        Pla take note,,, no central account were one person run away with ur money
      - Epsilon_Delta
        
        Lazy ass b****! Keep taking “free” money, till you realise that nothing is free!
      - Omoba1
        
        Will the bank have the money to pay all its deposit in one day – NO
      - Rosemary
        
        Apart from MMM, among others, is one called iCharity: a peer-to-peer funding scheme. You need not to worry as we are here to help u while u sit down, relax and earn. just call or whatsapp me on 07039879194 or 08102630977. Meet u at d top.
      - josephameh
        
        if the system can be left alone to run. Due to the share size of Nigerian population and the money in people’s hands. But due to the activities of LOOTERS who takes the money and dump it abroad, the end result is always a problem.
      - NanaJ
        
        pls permit me to interject at this point. due to limited unjuxtaposable fact within public domains, most MMM participant ae not able to provide a grand response to the question you just asked. the behind-the-scene event occuring in a flurry of activities behind the popular sceme called MMM is this, you purchase an item which mr sergy calls mavro at the point of providing help. this commodity, due to the forces of demand and supply, experiences a 1% rise in price daily. ( how this was fixed, i wouldn’t no). now at the exporation of a 30-day period, the value of the commodity you bought 30days ago (otherwise known as mavro) has increased by a total of 30%. now whenever you need cash, you sell your mavros to whoever wants to buy (at the current value) this is exactly where the 30% interest comes from.
        
        in summary here is a simple anology:: you bought a piece of land for 100, after 30days, the worth of the land becomes 130 so you sell to whoever at the rate of 130. hope this is clear now.
      - Epsilon_Delta
        
        Mavro indeed! MMM is a grand scam… what is mavro? an imaginary item? what is it used for? how does it appreciate at a predictable 1% a day? mmm gives you the 30% without keeping any for themselves, how do they make money to run the scheme?
      - Nkem
        
        To run the SCAM you mean.
      - Epsilon_Delta
        
        Yes!
      - Tosin
        
        You wan join? if u need clarification come straight. Why follow MMM news if you think it is a scam? you no get work ? u will eventually come on board! lol
      - Nkem
        
        And of course there is always someone waiting to buy your magical mavro every 30 days. And why wait for 30 days to buy my mavro at 30% premium when I can buy my own mavro from the store since there is always enough mavro to go around?
      - Oluchukwu Precious Okeke
        
        I love u for this explanation
- Nkem
  
  In Nigeria, we don’t know how to address problems before they cause real damage and become a major headache foe society.
- Rosemary
  
  Na u sabi. MMM is here to stay. There’s another one called iCharity: a peer-to-peer funding scheme. we’re here to sit down, relax and earn. for more info call or whatsapp me on 07039879194 or 08102630977. Meet u at d top.
  - dami
    
    Remember nospecto?..pennywise?….wealthzone?….you will soon start crying…crying for a long time.
Nkem

“The House, asked law enforcement and regulatory agencies to clamp down on the promoters of MMM.”
I will bet you that policemen, soldiers, civil defense personnel etc. are among those participating in the MMM scam.
- Omoba1
  
  For sure even EFCC staff are members and the longer MMM stays on, the more people join and I won’t be surprised if house of representative members start joining too
smart G

Why not force them to reduce interest to 10% per month? That will be more reasonable. But the 5% interest PER ANNUM given by Nigerian banks is paltry. Meanwhile they will give you loan at 30% interest…..and you see them declaring profit in hundreds of billions every year.
- Nkem
  
  What the banks do should be no excuse for the scam going around in the name of ‘People Helping People’. (More like People Deceiving People).
  - musa aliyu
    
    Why? You’ve not given any reason/ solutions. So the banks should continue while their accomplices be silenced? Stop the banks; stop MMM.
- Senator D
  
  Nigerian banks impoverish Nigerians and that is the wickedness of the government because they profit from that too… While I am not in support of Government banning MMM I do not also support the risk Nigerians are taking to delve into MMM… The CBN should do a thorough sensitization of the people on the activities of the MMM through jingles and mass broadcast… This is where we expect Liar Mohammed to come-in full force!
Usman

they are at least better than the legislators, they share with people
- Nkem
  
  And MMM, they collect poor people’s money and share with greedy people.
  - Senator D
    
    Stop this you are encouraging them further to hold on to their believe in MMM… You must point a way out or please just leave them alone instead making them hardened to the voice reason…
- Rosemary
  
  Apart from MMM there are others among which is iCharity: a peer-to-peer funding scheme. we’re here to help u. just don’t bother about ur involvement.just call or whatsapp me on 07039879194 or 08102630977. meet u at d top
Ayomide

No one is forcing anyone to join the scheme. MMM specifically advised that participants should only donate their spare money and that is repeated consistently when providing help.
Just like Trump, a lot of people are admirers of the scheme but they wouldn’t openly acknowledge… Perhaps Nigeria will be a better place, if honourable F concentrates on his betting business and other pressing issues of the nation.
- Nkem
  
  So if someone like me needs help, how do I access help on MMM. All the information and text messages I received was on how to donate “help”. There is no information on how to RECEIVE help.
  - NanaJ
    
    first, you have to be registered on the platform.
    
    next you must have provided help
    
    at this point you become qualified to recieve help.
    - Nkem
      
      Very interesting. In essence what you are not saying is that you donate ‘help’ equal to “X” amount of money, then receive ‘help’ exactly equal to “X + 30% of X”.
      That doesn’t sound like help to me. It sounds like people depositing money and collecting 30% interest in 30 days or 2,300% of the original sum in a year (compounded). So I ‘donate’ 10,000 (ten thousand naira) and in only one year I receive 230,000 (two hundred thousand naira) as my reward.
      Does that sound in anyway rational to you?
      - Ossom Daniel
        
        IT’S NOT THE WAY YOU JUST THOUGHT,YOU CAN’T GIVE OUT YOUR MONEY IN MMM PLATFORM FOR MORE THAN 35DAYS MAXIMUM,SO THE ISSUE OF COMPOUND INTEREST SHOULD NOT ARISE. IT IS REAL AND WORKABLE,PROVIDED EACH PARTICIPANT CONSTANTLY PROVIDE HELP AND GET HELP.IF EVERY PARTICIPANT LIVES HIS OR HER MAVRO,THEN THE SYSTEM WON’T WORK.
      - Nkem
        
        And if I keep rolling the entire sum (plus interest) over after every 30 days? Is that not the same thing as compound interest?
      - Dejandon
        
        They won’t learn. Just wait to hear them cry out to govt to arrest MMM ‘leaders’ for stealing their money come next year.
        30% return in one month and they think it is real and sustainable business. Poor souls!
      - josephameh
        
        Nkem just keep following the argument. you are almost there! By the time you roll over, you are already paying to a different set of participants already who will be getting paid and same time providing more help again, that is how the system runs. Its not a singly central account. The money you paid out for a month to different people are being used to transact one business or the other. Get it?
      - Tosin
        
        You wan join? if u need clarification come straight. Why follow MMM news if you think it is a scam? you no get work ? lol
      - Abi
        
        It doesn’t sound rational atall. Rationality is not = posibility/imposibility. Did it sound rational years ago to think that a big balloon in the sky will transport living souls from Africa to any part of the world? Can you imagine how many people thought this possible idea irrational? If you will please, I beg of you, just take a minute to google MMM ideology and read it. Knowledge is power.
- tundemash
  
  It is fraudulent, no point trying to cloth it in another garment.
  
  https://en*wikipedia*org/wiki/MMM_(Ponzi_scheme_company)
  
  And these are excerpts from the write-up:
  
  “In the aftermath at least 50 investors, having lost all of their money, committed suicide”
  “In 2016, MMM launched a website targeting the Nigerian audience.”
  “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).”
  - Ayomide
    
    Tundemash I guess you should know better when searching for sources. Wikipedia is not a reliable source to acquire info. Articles on that platform are written by individuals who is either in support or against various subjects, so there are rooms for bias or diverse opinions (I hope you didn’t use it for your project. Lol). In some other articles, Mavro is described as a hero who fought against the high interest rates of banks. You can believe whatever you like, you’re not compelled to join.
    Members are certainly not complaining at the moment. It is the first scheme that informs you of the risk at hand even banks or insurance companys won’t give you such info until you lose your money.
    - tundemash
      
      Is this also Wikipedia ?
      
      http://www*moneyweb*co*za/in-depth/investigations/mmm-sa-investors-complain-frozen-accounts-global-arm-shuts/
      
      Eni n wa ifa , o n wa ofo !
Cincinnatus

It’s the same as fractional reserve banking. The only difference is MMM
is not insured (which is why they ask you to use only spare change you
can afford to lose if the system is intentionally destroyed) and the
scheme get to give you a sizeable portion of the growth unlike the banks
that give you change and keep over 80% of the growth to declare insane
profits. No doubt MMM is risky but can work if the system is allowed to
function in peace. It’s just greedy people manipulated into giving each
other money for business mostly instead of hoarding it with the banks
who use it for their own purposes for huge profits and poor and
discouraging loan facilities.
- Epsilon_Delta
  
  “the scheme get to give you a sizeable portion of the growth unlike the banks”
  How do they “grow”, since they have no account and only help is offered and received?
  - Oluchukwu Precious Okeke
    
    Sit Down and be asking jamb question,,,am waiting for 11th next month
    - Senator D
      
      Yes 11th December will surely come but that is NO assurance that all that glitters is gold!
    - Epsilon_Delta
      
      Keep it up! Don’t just lead protest to NAS when you are duped!
- Nkem
  
  So which business is fetching people up to 50% profit every month in this recession that they can afford to part with 30% every month to service their loans?
George

MMM for me is better than Buhari/APC.

MMM only rob Peter to pay Paul while Buhari/APC rob Peter and rob Paul and pay nobody.
- Nkem
  
  So you are saying head or tail Peter is damned.
- olu
  
  Is it robbing when Peter and Paul both get payed… I don’t think so. MMM pays both of them
- Outraged
  
  Jonathan brought mmm. That man na confirm wayo
- tundemash
  
  Monkey, read and get education.
  
  https://en*wikipedia*org/wiki/MMM_(Ponzi_scheme_company)
  
  And these are excerpts from the write-up:
  
  “In the aftermath at least 50 investors, having lost all of their money, committed suicide”
  “In 2016, MMM launched a website targeting the Nigerian audience.”
  “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).”
  
  F00lish man, a word should be enough for the wise !
  - Oluchukwu Precious Okeke
    
    Oluchukwu Precious Okeke tundemash
    in a few seconds
    If u provide help on 11th of any this month next month 11th u get help and today 21st hmmn,,, I love u Mmm,,,, every body will one day crash or collapse and rapture will take place. Nothing last forever, ,, even this earth will collapse or crash one day
    - Senator D
      
      My dear I fear for you… You are so angry and bitter that you do not want to see reasons anymore. I understand I have been there myself but the scars are always there to remind me of my mistake!
  - Senator D
    
    Why spill your bile on him? Try to argue him out of it NOT spill spite on him!
- Rosemary
  
  #Lols# MMM is here to stay jareh. Don’t mind them. There are other ones among which is iCharity: a peer-to-peer funding scheme. We’re here to help u. U need not do any other thing. Just sit down and enjoy ur money. call or whatsapp me on 07039879194 or 08102630977. Meet u at d top
easyman16

I think MMM is far better than the Useless nigeria government that will rob Peter rob Paul and the entire nigerians and wilinly give it to foreign country.
- Omoba1
  
  Laughs out Loud
  - Senator D
    
    Over what?
- Outraged
  
  Your father is useless and entire generation of money doublers
  - Senator D
    
    Does that solve the problem now? You need to grow up! People are hungry and frustrated and you blame them for falling prey to lust and greed? Please grow up! And stop being abusive even if she did abuse you…
- tundemash
  
  Cl0wn, read and get education.
  
  https://en*wikipedia*org/wiki/MMM_(Ponzi_scheme_company)
  
  And these are excerpts from the write-up:
  
  “In the aftermath at least 50 investors, having lost all of their money, committed suicide”
  “In 2016, MMM launched a website targeting the Nigerian audience.”
  “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).”
  
  F00lish man, a word should be enough for the wise !
  - Oluchukwu Precious Okeke
    
    If u provide help on 11th of any this month next month 11th u get help and today 21st hmmn,,, I love u Mmm,,,, every body will one day crash or collapse and rapture will take place. Nothing last forever, ,, even this earth will collapse or crash one day
    - Senator D
      
      Don’t justify evil… Even the Earth abhors them that takes pleasure in those that do evil… The Great man Moses warned clearly, “Never join the multitudes to commit an error”… You must not allow your fears and selfishness to becloud your reasoning…
  - josephameh
    
    you failed to read or understand how it was run then compared to the adjustments or improvement that have gone in now. How about the first Aeroplane that even crasshed and killed the inventors? Did it stop others from trying?
    - tundemash
      
      Olodo, there is no free money anywhere !
- Rosemary
  
  MMM is here to stay my bro. Apart from MMM, among which there are others is one called iCharity: a peer-to-peer funding. u need not do anything but to sit, relax and earn. we’re here to help u earn without stress. just call or whatsapp me on 07039879194 or 08102630977. Meet u at d top
easyman16

Useless frustrated and Hopeless leader’s, they are crying because The scheme will positivly inpact the life of common nigerians
- tundemash
  
  Mor0n, read and get education.
  
  https://en*wikipedia*org/wiki/MMM_(Ponzi_scheme_company)
  
  And these are excerpts from the write-up:
  
  “In the aftermath at least 50 investors, having lost all of their money, committed suicide”
  “In 2016, MMM launched a website targeting the Nigerian audience.”
  “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).”
  
  F00lish man, a word should be enough for the wise !
  - Trust only God
    
    Keep reading while we are all making sweet money every month. Too much of everything is bad. even too much reading will make you doubt everything you hear or see
    - tundemash
      
      Keep deceiving yourself.
  - josephameh
    
    what did you read on wiki about Savanah bank?
akinwumi komolafe

Hm.Time will tell,if the scheme is not a fraud.
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Omoba1

The main reasons for business failures in Nigeria is greed and mismanagement. The MMM business model/strategy is thought provoking. It is more of a pyramid scheme than a Ponzi scheme. Both schemes require new members to survive, but a pyramid scheme allows both new and existing members to participate e.g GNLD and all these network marketing schemes, even Banks

A more classic case is Heritage Bank – where new depositors are no longer bringing in money into the Bank and existing depositors are trying to get their money out. This has resulted to a short-term liquidity issue for the Bank and I’m not including all the mismanagement actions carried out by the Bank’s management team.

Another example is regular businesses – if you do not grow your customer base, you remain the same for long periods till competitors either buy you out or inflation makes your expenditure so high and knock you out of business.

So my advice to the promoters of MMM, in the face of these adversities, stick to the very core rudiment of your business model; that should be your strength – the desire to succeed and prove everybody, including myself, wrong.
- Abi
  
  A very sensible an Totally unbiased point of view. You couldn’t have put it better. The idea of an air conditioner, bicycle, telephone, wireless telephone, internet, cars and airplanes seemed crazy until proven possible.
  - Omoba1
    
    Well I would say thank you. I have a close associate cajoling me to join and as a business/finance analyst I found ROI of 30% too good to be true so I decided to read about it. While I said the design is thought provoking is that Marvo must be a genius to think it up. To me I think the mistake MMM members are making is by saying it is an investment scheme. From what I have read so far, I think it is more of a social club than an investment scheme.
    
    MMM is going to die and I certainly agreed, all business/organization die. However, it is how long they live and what they do that matters. If MMM is managed properly and live longer than expected, I think it would change a lot of people lives and probably I would join too. After all 30percent ROI is breathtaking.
    
    I would ask people to study up rather than criticize, have an open mind. A lot of their members might not be unable to explain, probably they are in it for the action, but it is up to you to want to know. Our journalist should also do some good journalism on this by carrying out a thorough investigation and disclosing their findings to the public.
    - Nkem
      
      You confuse me. On the one hand you say MMM is not an investment scheme but a social club. But in your earlier post you advised MMM promoters to “stick to the very core rudiment of your BUSINESS MODEL”. So where is the business in this model if you think it is only a social club?
      Reading though your post, and noting obviously that you are very educated, there are two possible explanation for the mixup – either that yours is a disguised PR job for MMM or you are struggling with yourself to justify the scheme (scam) so you can convince yourself to join.
      You said is not an investment scheme. I agree with you (I don’t even think that the MMM people are even saying it is an investment scheme. You said the Mavro guy must be a genuise. How so? What is genuise about collecting money from a group of people and simply passing it on to another smaller group of people?
      - Trust only God
        
        Nkem take am easy on am.
princegab

Mavrodi, the founder of mmm is a Russian criminal whose pass time is defrauding investors. Check him out in Wikipedia. Fg should weigh in on mmm because, when these kids are defrauded eventually by mmm, they will direct their anger at government and become a recruiting ground for BH and ND avengers.
- Oluchukwu Precious Okeke
  
  Keep reading what the financial institution write about him,, they re messing with head,,, honestly
McAlfred Uta

It is unfortunate that the worsening economic crisis and biting recession has turned Nigerians into anything goes. In a previous report it was alleged that MMM pays 30% interest when Nigerian banks cannot pay even 5% and yet Nigerians believe and continue to invest in this fraudulent scheme. Yet the relevant regulatory authorities especially CBN looks the other way. WITHER NAIJA? Where exactly are we heading to as a nation, as human beings and as grown up and reasonable adults? The simple question is – Is MMM registered by CAC and what are the financial performance for the past 3 or more years?. When the bubble bursts many will commit suicide but right now the dog ears are too blocked to hear the hunters whistle.
- Oluchukwu Precious Okeke
  
  Why bank can not pay 30% is becos they are wicked,,, take note bankers are the people that do Mmm more,,,,so what is ur point??
Dejandon

The Monkey Money Madness! (MMM)
Once upon a time in a village, a man appeared and announced that he would buy monkeys for N100 each. The villagers seeing that there were so many monkeys around, went out to the forest and started catching them.
The man bought thousands at N100 and as supply started to diminish, the villagers stopped their efforts. He further announced that he would now buy at N200. This renewed the efforts of the villagers and they started catching monkeys again. Soon the supply diminished and people started going back to their farms. The offer rate increased to N250 but the supply of monkeys became so little that it took much effort to even see a monkey, let alone catch one.
The man now announced that he would buy monkeys at N500! However, since he had to go to the city on some business, his assistant would now buy on his behalf.
In the absence of the man, his assistant told the villagers: ”Look at all these monkeys in the big cage that my OGA has bought from you, I will sell them to you at N350 and when my OGA returns from the city, you can sell it to him at N500”.
The villagers squeezed out all their HARD EARNED savings and bought all the monkeys. The most greedy ones among them even sold their lands to purchase many MONKEYS, hoping to make a huge profit without labor.
Then…
They never saw the man or his assistant. Only monkeys everywhere!
Welcome to MMM. The world of Monkeys!
Be wise.
- Oluchukwu Precious Okeke
  
  Really?? So if I stop Mmm, wat do I do???? Sit down and keep waiting for job,,,, just so u know every thing is scam in Nigeria, ranging from APC change (they failed), some church are scam( say things or revelation they re not sure), betnja and likes (out of 10games,,,one cut no pay, sure games are given no odd or less than 1.03) etc. The reason why I join Mmm is becos it is not made in Nigeria . u better join us, don’t be afraid is not Nigeria made and also is not run by a Nigeria man.
  - Senator D
    
    I understand your anger and these reasons you gave above are genuine but no matter the famine in the Land the Lion will not eat grass… The fact that Government has failed us and society itself a big-gamble does not justify your encouragement of something that has been outlawed by those in authority that is called REBELLION and it is worst than the sin of witchcraft!
    - kingxy
      
      mmm is not ‘grass’ it is actually what the lions are feeding on all this ur rebelion talk i dont understando . bt all i knw is that mmm pays ans with the level i have gone so far i no fit loose again scam or no scam and the good thing is it is not a scam. Abeg make una leave matter for mattais lo0ng live mmm
    - josephameh
      
      But one thing you don’t seem to understand is that MMM is like a Aeroplane that has already taken off. There are passengers already in the plane! so if you are saying the police should shot down the plane now there will still be casualties. At any moment in time people’s money will be trapped. Just what would happen if any bank should collapse today. I think mmm is just like the bank, both needs people to continuously deposit and withdraw. As long as there is mutual trust to be patient while the system resets, it should be ok. My own thoughts though.
  - Dejandon
    
    Your frustration with the system is justifiable, butt does not mean you have to result to scam to make ends meet. Even if you use that money you are investing into buying and selling vegetables, you will still get bye than risking your money on something the world over considers a scam. Banned in China, can’t ever be introduced in most countries, and even Nigeria is coming after it big time. That should tell you something about the nature of such business. It did not start from Naija, but by a Russian. You may do well to educate yourself on how the man is considered a crook. Google will be your guide to such a small research.
    
    But given that you seem to know well about betnja, you are already into some form of quick money expectations, so my advise on legitimate business may not make sense to you. So all I can do is wish you all the best, but no crying to government again when the chicken of MMM finally comes home to roost, which it will surely do soon.
    - Trust only God
      
      I understand your frustration. It hurts when you see your neighbour making money. please deal with it
  - TheEAGLE_EYE
    
    Oly, you certainly read my mind, you’re good.
- Rosemary
  
  well u’re one of dem monkeys #lols# don’t the whites say we blacks are all monkeys??? #hahahaha#
  well if u’re not interested in MMM, there’s another one that will suit ur lifestyle called iCharity: a peer-to-peer funding scheme quite similar to local contribution like cooperative society. an american cooperative society. join us. we’re here to help u. for more info call or whatsapp me on 07039879194 or 08102630977. Meet u at d top
- TheEAGLE_EYE
  
  Your story is familiar with old cowards. We’re talking of money and making money but you’re here telling us about monkies, totally irrelevant. I can’t help wondering if you’re a monkey..
  - Dejandon
    
    don’t worry, a dog that will get lost would not listen to the hunter’s whistle.
Joshua Wealth

Dear All,
I used to educate and try to convince persons calling MMM a scam or afraid to participate.
I joined because I needed to know how it works fully, and provided help after reading the elaborate warning on the website that’s almost discouraging.
One thing that made me participate was just ONE QUESTION.
HOW COME MMM THAT STARTED AND EVOLVING SINCE 1989 AS A SCAM STILL MAINTAINS THAT SAME NAME AND ON THE SAME WEBSITE(MMMOFFICE.COM) OPERATING IN OVER 70 COUNTRIES?
Philippines getting 30% for about 3 years +
South Africa still operating for about 2 Years + amidst government concerns.
Nigeria crossed a year and counting.

Conclusion.
We are only using our spare money to participate as we were warned.
So if we lose we won’t commit suicide.

Thanks for all your concerns,
We really appreciate your kindness towards our welfare and money you don’t have an idea about how we earned.

Just a little story…
A kid and a man has a conversation in a bus.
Kid (taking chocolate)
Man (asks kid) : Do you know that’s bad for your health?
Kid: My Grand dad lived over 100 years.
Man: He was taking chocolate?
Kid: No, He was always minding his business.

MORAL OF THE STORY:
MIND YOUR BUSINESS.
SO YOU DONT DIE OF SOMEONE’S ELSE PROBLEM.
GUIDER JOSH
lagosmavro@gmail.com
- Nkem
  
  You people wish the ones who refused to be sold on this your scam would simply ‘mind their business’ and allow you scammers to have a free reign. No way Jose! You said people were warned; warned about what? So there is admission of potential harm here you agree. So we won’t just stop here. In fact we are filling a report to EFCC because we even suspect a scheme like this is a perfect vehicle for money laundering.
  - Joshua Wealth
    
    What I have observed is that most dudes like you who don’t understand how MMM works and also cannot lay their hands on the 30% are not happy with those who ‘foolishly’ participate.
    There is no scam site anywhere in the world advising you to use spare money because the founder of such scheme needs huge sum to cash out and quit.
    Nkem contact me via the email provided if you are open minded,
    I will take my time to proof MMM ideology of crowdfunding(Osusu) and her ability to last 100 years if it’s allowed to be.
    Otherwise you can go ahead trying to use EFCC to chase persons who willingly pay money to themselves.
    
    Regards
    Guider Josh
  - Senator D
    
    Who launder money pass those in Government? Pot calling kettle black!
- TheEAGLE_EYE
  
  In conclusion, MMM is real and it works, fullstop.
  - Trust only God
    
    My 200k has turned into almost 284k in one month. MMM has come to stay
- Rosemary
  
  Apart from MMM there’s another one called iCharity : a peer-to-peer funding scheme. we’re here to help u earn without u stressing yrself. sit back, relax and earn. for more info call or whatsapp me on 07039879194 or 08102630977. Meet u at d top
- Sanssouci
  
  Do you also know that the Madoff Ponzi Scheme also ran for more than 2 decades? just saying….
Dazmillion

Maybe Buhari should give this MMM people the country’s 2017 budget and get 30% extra after 1 month. That will be better than any economic polices him and Sister Adeosun are are cooking up or any $30 billion loan
- Senator D
  
  If they “sow” a seed of $30-Billion into MMM within 6-months they will have enough money to finance 2018 and 2019 budgets I swear… Like MMM with all the possibility of it being a scam is gaining more respect in terms of financial expertise than Kemi Adeosun’s $6Billion plus $16billion equals $22Billion!
- Trust only God
  
  Your head they dere. on point
Senator D

The fact that Government has failed us and society itself a big-gamble does not justify our encouragement of something that has been outlawed by those in authority, if we do, it is called REBELLION and it is worst than the sin of witchcraft! If the government has rejected MMM so also it’s citizen must do so!
- TheEAGLE_EYE
  
  You don’t make any sense, Senator.
  - Senator D
    
    Reject MMM if the government says so! make sense now?
  - Rosemary
    
    MMM has come to stay. Apart from it there are other ones among which is iCharity: a peer-to-peer funding scheme. we’re here to help u make money without stress. for more info call or whatsapp me on 07039879194 or 08102630977. Meet u at d top
- Rosemary
  
  so if ur father rejects civilization, as ur forefathers did in times past, u’ll reject civilization too??? na wa ooo. see if u don’t believe in MMM, there’s another one that will suit ur belief. at least u believe in cooperative societies where u all can contribute and u get d money and u contribute for others and they all get theirs. this is an american cooperative society called iCharity. we’re here to help u earn. just call or whatsapp me on 07039879194 or 08102630977. Meet u at d top
Senator D

The CBN should do a thorough sensitization of the people on the activities of the MMM through jingles and mass broadcast… This is where we expect Liar Mohammed to come-in full force!
TheEAGLE_EYE

No Sir. My reason is simple: Nigerian govt is blind and its visions are myopic.Tell me fault from the scheme not what blind organ is advising. Let me use the so-called illegal refineries devised by inhabitants of Niger Delta region in order to produce finished petroleum products to sell to poor masses. While Nigeria does not have fully operational refineries, why can’t this govt (if they has sight) allow those illegal refineries operations and tax them as it supposed? Unlike this MMM scheme, this govt is not interested in what makes live easier for Nigerians. No country where this scheme is operational have said anything bad about it except this fake institution called Nigerian govt, which in reality cannot compare with any of those nations in terms of good welfare for it’s citizens. Nigeria comes first when it comes to hypocrisy, as a Nigerian, I’m ashamed.
- Senator D
  
  I agree with you. Your points are well received…
ndubenz

MMM will end someday, i know that, ds scheme will go down in history very controversially, first, as something that changed stories of many people for good and secondly, as something that wrecked homes, caused deaths and sufferings…..but my view is that those who will be at d suffering side by then will be those who were too greedy as to have used far more than their spare income, as well as those Thomases of today who will rush at that dying moment to participate. To be candid to you all….i am not advertising ds scheme, but there are certain things that when they happen to you, it will take only an idiotic ingrate not to testify or at least admit. The truth is, MMM has made me a millionaire in just few months. However, let me say that before you participate, ask yourself if you will have the capacity to survive the shock in the event of any eventuality, mind how much u donate(spare income). and Be ready before you join, and study it well and devise your own best strategy for participating. My prayer now is for the community to stay longer but even if it ends tomro, as some Nigerians here are insinuating, i will still be very very grateful becos my story is never going to be d same again. After my service now, i wont be queuing for job anymore becos i have been funding my company gradually from my rewards. let me also try to say this to people who may read ds, Life is never a straight curve, dont alwys be too quick to condemn things for you may end up having to eat your vomit: you may also end up being proven right but in any case, i think we should be objective enough if we must have to pass judgement. in conclusion, whether mmm lives or dies, Nigerian government should be grateful to this scheme for what it has done in keeping most of the youths busy/engaged/occupied in hard times like ds. if not for mmm, only God knows what will be happening in this country today……there are a lot of good reasons why Nigeria as a country should be grateful to mmm, even though i know that mmm cannot be a lasting solution but at least, it has kept us busy while government tries to turn around things for the economy to flourish again….but even if you or government has not seen any reason to be grateful to mmm, i have, and so i will alwys be grateful to them.