November 10, 2016

MMM Wahala: House of Reps Ask EFCC To Arrest Promoters

I don't know why people are complaining too much about this MMM issue. If you are not ok with it and some people say they are very ok with the risk, why not leave them do their thing?

The House of Reps has asked the Economic and Financial Crimes Commission and the Central Bank of Nigeria to immediately go after the promoters of Mavrodi Mondial Moneybox, otherwise known as ‘MMM’ in Nigeria.

Lawmakers strongly opposed the money scheme, which lately gained popularity among Nigerians in the wake of the current economic recession in the country.

MMM promises 30% return on investment for any money put into the scheme within 30 days.

The investment scheme has a Russian origin and “involves directing clients to make money available for an anonymous person with a promise of 30 percent return within one month.”

But House of Reps described the scheme as a “scam” and warned Nigerians not to be carried away by the “mouth-watering” returns on investments.

Lawmakers warned that the “trick” used by the operators was to attract as many Nigerians as possible to invest substantial amounts of money before the bubble would burst.

The House directed the EFCC, security agencies and the CBN to take urgent steps to halt the scheme before many Nigerians would become victims of the scam.

It also asked its Committees on Banking and Financial Crimes to investigate the activities of MMM “with a view to saving Nigerians participating in the scheme from you financial ruin.”

7 comments:

eniola lawal said...

Issokay

Anonymous said...

It's because they are all mad na,is it their risk or their loss of money? The last time I checked the fucki*g govt does not care about an ordinary man, so why suddenly concerned about how they spend their resources. Such mean people,leave the masses alone...jobs they won't provide,jobless youths everywhere. They are just pained the poor masses found an alternative. LEAVE THEM ALONE TO INVEST THEIR MONEY HOW THEY DEEM FIT

Anonymous said...

How many of the so called "Honorables" cab give out 3%of their income monthly to the people in there constituency? they should keep quiet and allow those that can take the risk to take it....

ats three said...

Exactly Mr Olufamous! They (Senators) as individuals or even as a collective body won't do anything to help alleviate the sufferings of the masses but they are quick to judge those trying to help. Many, if not all of those involved with MMM know the risk involved so they (Senators) should just swerve.

Anonymous said...

Instead of you people to face how to address the issue of budget padding by the speaker (Dogara)and see how you can impeach the criminal call speaker, you didn't do that instead you are debating on MMM. the forum where less privilege assist each other to cushion the effect of this recession. wait a minute can you mention one thing that we have benefited from government since we have started practicing this stupid democracy, no job, no light, no good road and security zero. please Mr speaker and co, please this is our money let us use it the way we feel like

Anonymous said...

Wetin concern House of Noisemakers??? P

Anonymous said...

This house of rep. and senate how does the risk people take to support their daily bread now become the problem of senate house rep.so you people do not have any job to do in that senate seat and house of rep. that MMM have now become the job you now have. The question i want to ask the senate and the house of rep.is this, do they want the cause of Nigerians to kill them and their families? because they are trying to take food away from the mouth of Nigerians. Please leaves us alone to take our risk.