Thursday, 15 December 2016

We warned you against MMM – CBN reacts to ‘crash’ of ponzi scheme

For the umpteenth time, the Central Bank of Nigeria (CBN) has
warned Nigerians against investing their hard-earned money in
the ponzi scheme, Mavrodi Mundial Moneybox (MMM).

The scheme operators earlier in the week deactivated the accounts
of its investors in Nigeria.

However, top MMM guider Chuddy has addressed MMM investors
on the one month freeze of accounts.

In a blog post on MMM BLOG on Tuesday, Chuddy called for calm
among investors.

The open letter explains why the one month freeze was
implemented, adding that it was to put the Nigerian Government
and MMM haters to shame.

Reacting to the gloating across the nation, CBN Director of
Development Finance, Dr. Mudashiru Olaitan said the apex bank
had earlier advised Nigerians against the ponzi scheme.

Speaking at a business leaders’ conference with the theme:

“Prospering in a recession”, organised by EZ37 Solutions in Ibadan
on Wednesday, Olaitan said the nation was blessed with many
resources and businesses that could bring returns at minimal
risks, urging people to embrace agriculture instead.

Olaitan, who was represented by the Head of CBN Development
Office in Ibadan, Mr. Banji Akinola, said the Ponzi scheme has
become a national embarrassment with the scheme’s operators
insulting the Nigerian government just because it cautioned the
people over the scheme.

“It is an embarrassment to the nation. The CBN had earlier warned
them against investing their money into it. It is sad,” he said.

By Ameh Comrade Godwin - daily post

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