The founder of the Omega Fire Ministry, OFM, Johnson Suleman, has described the pyramid financial scheme called MMM as satanic.
Mr. Suleman condemned the scheme, which has drawn heated debates in the country, in one of his Sunday sermons.
A video of the sermon, posted on Instagram by @Kintoncod, showed the apostle telling his followers that any of them involved in MMM should raise his hand and subsequently come forward for deliverance.
“Go and check the founder of MMM. He was a fraudster in America; defrauded people, and that’s what you’re involving yourself in and you are a Christian, looking for easy way out. Many Christians have gotten involved. If you are involved in MMM, I have to pray for you today. It’s not of God. Any quick fix way for money is not of God because some people are being defrauded to enrich some other people,” the controversial preacher said.
Mr. Suleman had earlier in the year prophesied the death of Governor Nasir El-Rufai after the Kaduna State governor proposed a bill to regulate public preaching. The governor then challenged him to be specific with dates for his prophesy while explaining the bill was meant to check religious extremism in the state.
In a related development, members of MMM and other money doubling schemes are in consternation over the seeming crash of a sister scheme, ultimate cycler. The panic came following a technical downtime of the ponzi scheme which resulted in a crash of the site, ultimatecycler.com.
Subsequently, founder of the scheme, Peter Wolfing while addressing the situation in a statement apologized for the development, saying the crash occurred as a result of a system upgrade. He said the site would be up as soon as possible.
However, the site which went down last Thursday still displayed an error message“Be right back. We are currently updating the site to give you a more pleasurable experience and will be back online shortly,”on Tuesday evening.
Currently, there are up to 40 money doubling schemes in Nigeria that sprang up like MMM with different enticing offers. Some of them are Ultimate Cycler, Givers forum (giversforum.net), Zar fund (zarfund.com), Icharity (icharity.club), Crowd Rising (crowdrising.net), Get Help Worldwide (gethelpworldwide.com).
Despite its popularity amongst Nigerians of all classes, critics maintain that the business is a Ponzi scheme because its operators use money from later investors to pay earlier investors.
Those behind the venture are not known to the Nigerian regulatory agencies, including the Central Bank and the Nigerian Deposit Insurance Corporation.
The businesses are also not registered with the Corporate Affairs Commission, making it difficult to identify its promoters.
Regulatory and anti-corruption agencies had earlier warned Nigerians against participating in the scheme.
Lawmakers said members of a syndicate who conduct seminars to train people on how to invest in such schemes should be arrested.