MMM Freeze ‘Still Effective’ 96 Hours After Come Back

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EFCC Breaks Words Of Admonishment To Nigerians As MMM Freezes 3 Million Accounts

Mavrodians, the name of account holders in MMM Nigeria, are still left stranded 96 hours after the controversial ponzi scheme returned – indicating that the “freeze” by the ponzi scheme “was still intact.”

MMM came back on Friday morning, about 24 hours before its scheduled date, but its participants have groaned that they were unable to get paid a return on their investment.

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TheCable quoted some of its participants as saying that although they were able to request for their money, they have not been paid as the system is still frozen, just as it was in December 2016.

One of the complainants, Kolade Ogunwande, who said he invested about N100,000 in November 2016, and referred two other people to the scheme, said his money had appreciated to N214,000 as of Friday, so he immediately request for it.

“They have not paid me anything, but they said we should be wait patiently to be matched with participants willing to invest in MMM. I have no choice than to be optimistic,” he said.

Another participant, Lara Makanjuola, who also invested N100,000 in the scheme, said she was expecting N186,000, but she had not been able to request for her money.

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According to her, “anytime I requested to get help, the website said mavros are not available for withdrawal”.

“I was supposed to collect my money two days to when accounts got frozen, but the person I was matched with didn’t pay.”

An Abuja-based couple, who requested not to be named, invested over N2 million in the scheme; they have also not been able to withdraw their money.

It was learnt that since yesterday, if any participant sought to withdraw, the website would put up a message that would linked them to its previous freeze message, below:

“As usual, in the New Year season the System is experiencing heavy workload. Moreover, it has to deal with the constant frenzy provoked by the authorities in the mass media.

“The things are still going well; the participants feel calm; everyone gets paid – as you can see, there haven’t been any payment delays or other problems yet – but!.. it is better to avoid taking risk.: (Moreover, there are almost three weeks left to the New Year).

“Hence, on the basis of the above mentioned, from now on all confirmed Mavro will be frozen for a month. The reason for this measure is evident. We need to prevent any problems during the New Year season, and then, when everything calms down, this measure will be cancelled.”

However, Mavrodians are hopeful that their pay will come through, considering, the scheme’s last message of “hope for the poor”.

In the message, MMM said it “will only pay a certain amount per day”.

“Please, be prepared to wait for a couple of days. We are certain things will then calm down, and the System operation will return to normal.”

Meanwhile, the Securities and Exchange Commission, SEC, has warned Nigerians patronising Ponzi Schemes against investing in digital currencies such as Bitcoin, Swisscoin and OneCoin.

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In a public notice on its website on Thursday, SEC stated that none of the individuals or companies promoting the use of the currencies is recognised by it or any other regulatory agency in Nigeria.

This is just as Apostle Johnson Suleiman of Omega Fire Ministries (OFM)  sacked one of his branch Pastors for participating in the controversial Ponzi scheme.



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