Crime News
Outrage As MMM Nigeria Freezes Accounts, Bans Money Withdrawals
December 13, 2016 – Outrage As MMM Nigeria Freezes Accounts, Bans Withdrawals Of Capital & 30 % Return On Investment
Most Nigerians participating in the money-doubling scheme, MMM are in for a shock after the faceless company placed a ban on withdrawals of both their capital and 30% return on investment.
In a letter posted on the website, heavy workload on system and negative publicity from the media was cited as the cause of the temporary ban expected to be lifted sometimes in January of next year.
Most Nigerians who have trust in the system are now having a rethink as the company may use this opportunity to steal their money.
Before the sudden turn of event, both CBN and SEC had warned Nigerians to not participate in the money doubling scheme but most Nigerians believe MMM was sent by God to rescue them in this recession period.
Below is a copy of the letter posted on MMM official website:
See how some folks responded to the ban on Twitter earlier today
Those who didn’t invest in the money-doubling scheme are now claiming that MMM is teaching Nigerians financial discipline.
These scammers keep upgrading their game. Chai! my people take heart o.
RAPO
December 13, 2016 at 3:26 PM
IF IT CLASHES NO BODY TO HOLD RESPONSIBLE!!! WAO! WHAT A SHOCK!… MAY GOD SAVE NIGERIANS!.
Endure
December 13, 2016 at 4:37 PM
It is now like film or video to those who earnestly supported this ponzi scheme! We warned them enough! They kept bringing some twisted ideas to justify this outright GAMBLE.
I just wondered the justification of engaging in this type of money doubling scheme that after crashing would eventually rob mostly the new comers of their hard earned money. But still many continue to glorify MMM as the only solution to the economy woes confronting the nation.
Now that people’s account have been frozen which they claimed is going to be temporary lasting for one month,then the question is,of what good has it done to those poor masses who have invested heavily in this ponzi scheme? In fact the very opposite is what this evil scheme has done so far to people! To rob them of their money they’ve laboured for over the years and finally throw them into tears.
The excuse MMM gave for freezing people’s money is unfounded and baseless! If they truly have the best interest of the nigerian poor masses at heart as they claim,they should have returned people’s money to them before suspending their operation. Then again of what good is this ponzi scheme?
Well, my honest prayer is that MMM should keep to their promise of coming back in one month’s time so that people can now quickly remove their money from this dirty and dangerous game.
comeandmarry
December 13, 2016 at 6:06 PM
im so happy o crashed.
good news.
now the poor would remain poorer.
bunch of greedy get quick rich bastards.
owo don enta voicemail for life.
comeandmarry
December 13, 2016 at 6:25 PM
since ppl are aware.you think mbanefo would open the doors of mmm after 30days.
then he must be very stupud.cause if he does he stands very high chances of being at loss.cause everyone wud want to cash out and withdraw they funds.
mmm has scammed ppl for life.
pennywise
pound foolish
my own guy invested 10million naira.
by now he shud af committed suicide
greed is a strong spirit.
sola olaniyi
December 14, 2016 at 7:42 AM
has it crashed or frizzed..