EFCC Places MMM Operations Under Surveillance

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

The Economic and Financial Crimes Commission (EFCC) has stated that its surveillance has been beamed on the operations of the Mavrodi Mondial Moneybox popularly known as ‘MMM’.

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

This disclosure was made by the spokesman of the anti-graft agency, Wilson Uwujaren, during an interview with Daily Post at a training programme in Port Harcourt.

READ ALSO: MMM Issues Important Information To Participants As CBN Intensifies Crackdown

Uwujaren, while confirming that the anti-corruption agency has already placed the MMM under surveillance, however, said that the House of Representatives cannot direct the Commission to investigate what he referred to as a faceless wonder bank.

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

His words: “We can only arrest people based on the evidence that we have. The House made a resolution but the resolution is a public announcement.

“We have always been advising people not to patronize wonder banks because experience over time has shown that their activities are not sustainable.

“If you get involved in it, you will eventually get hurt. What we are currently doing is to sensitize people. We know people want to make quick money as a result of recession through this MMM.

“The unfortunate thing about this MMM is that it is not a Nigerian firm but we are looking at and we will still tell the media whatever we find out.”


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



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1 comment

  1. First of all, I think they are jobless, second of all, this is also another opportunity for them to form a committee that will further drain our national reserve. Thirdly, what is there to research? Everything you need to know is on their website, all they need to do is become participants on the platform to actually find out how it works. Obviously they do not do their research because there are other ones in Nigeria that have borrowed mmm’s ideology. Eg. me2u and and givers forum. It’s only proper they put all of them on surveillance and again. The only reason they federal government is bothered by it’s activities is simply because there is no face to hold and extort money from.

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