Students Must Pay N2bn Debt If MMM Returns Their Investments Or Not – UNIOSUN VC
The Vice Chancellor of Osun State University (UNIOSUN), Prof. Labode Popoola, has declared that the institution would collect the over N2bn debt students owed it whether they are able to recoup their money invested in the controversial ponzi scheme, Mavrodi Mondial Moneybox (MMM), or not.
Speaking on Saturday, he said:
“Some of them (students) used their school fees to invest in MMM. But whether MMM comes back or not, it is their headache. I have told them that we are not going to open the portal. If I see that a critical mass of the students pay, then we will decide to open the portal just for about 48 hours. But they must pay first.
“This is how we accumulated a debt profile of over N2bn, we cannot continue this way. They just have to pay the money.”
This declaration is coming at a time when MMM ‘investors’ have not been able to get their money back
In a chat with an MMM representative, one Juliana ‘Consultant’, told The Punch that payment had not begun on Saturday but that the scheme would “pay soon.”
“Some accounts are frozen and ‘GH’ have commenced,” she said.