Tag: Ponzi scheme

Officials had in the past warned Nigerians against participating in MMM.

MMM said there was no need for participants to panic.

The scheme placed a one-month ban on all withdrawals on December 13, 2016.

“I will surely join if the program returns next year," an interviewee said.

Operators of Ponzi schemes usually entice new investors by offering higher returns than other investments.

Members of the scheme donated materials to less privileged in Abuja and Ibadan.

The MMM is a deposit money scheme that promises a 30 per cent interest on investment per month.

"How can somebody give you 50 per cent return?"