MMM Issues Important Information To Participants As CBN Intensifies Crackdown

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FG Set To Shut Down MMM, Other Wonder Banks From Operations In Nigeria

The Mavrodi Mondial Moneybox  popularly known as ‘MMM’ is calling on all of its participants to wise up – not to throw caution to the wind – when making cash transfers or deposits in the wake of a crackdown by the Federal Government of Nigeria.

READ ALSO: ‘MMM Is A Fraud, Don’t Patronize It’ – CBN Warns Nigerians

An ‘important’ information issued on Twitter via an account that shares its ideology read:

The information is coming barely a day after the House of Representatives ordered law enforcement agencies and the Central Bank of Nigeria (CBN) to track down and arrest promoters of the “questionable” investment scheme.

The crackdown order was received with disapproval and condemnation from aggrieved Nigerians – who are of the opinion that the legislators have abandoned several pressing issues in the country for a trivial issue like MMM.

mmm-cbn-crackdownConsequently, there are strong indications that the Apex Bank has begun to blacklist all banking transactions related to “MMM”.

Bear in mind, the MMM, is a deposit money scheme, that promises 30 per cent return on investment for any money put into the scheme within 30 days.

CLICK HERE: To See Nigerians Reaction As FG Prepares To Shut Down MMM, Other Wonder Banks

In spite of its notoriety among Nigerians, critics still inferred that the business is a Ponzi scheme because its operators use money from earlier investors to pay later investors.

Checks show that Nigerians benefiting from the scheme are “very passionate” and any forceful crackdown on the scheme could breed serious national security concerns.

The war between Nigeria and its citizens – especially the downtrodden – might just be heating up in the wake of the current economic recession in the West African country.

READ ALSO: Reps Wants Promoters Of MMM Arrested In Epic Crackdown

With the current unrest within the Niger Delta creeks, courtesy the vicious yet vivacious activities of a sabotaging cult, sandwiched in between a crave for Islamic Caliphate by militants of a notorious death cult in Northern Nigeria; the country might just be headed for an untimely chaos.

Datboyjerry

Datboyjerry

I am but your herald boy in the art of the pen.. An eccentric Environmental Biologist smouldered in the glorious epiphany of online journalism.If you ever find my article unduly insipid, sue me and i’ll refund you...

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