Hope Dims For MMM Participants?


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All hopes seen lost for Mavrodi Mondial Movement (MMM) participants, who jubilated when the scheme announced the unfreezing of the ponzi accounts on January 13, 2016, as it is yet to pay those who invested in it. The accounts were frozen late last year.

The bleakness of the already bad situation was made worse by a statement issued by the MMM office to all participants last week titled, ‘МММ Nigeria is coming back to normal’. The scheme asked the participants to forget the 2016 Mavrodi money and start a new one as the account is under restriction.

It reads, “Dear members, MMM Nigeria lifts all the limits for Mavro acquired in 2017. So, MMM Nigeria is coming back to normal. And now the members can actively develop the community and create new requests to provide help. For these requests, orders will soon arrive, and after Mavro’s confirmation, it will be possible to withdraw these Mavro without any restrictions or limits!

“Only Mavros acquired in 2016 remain under restriction. But we are actively working on new measures to make it possible for the members to withdraw Mavro- 2016 in a larger amount without undermining the sustainability of the community…”

Unfortunately, many students who invested their school fees with the hope of making 30 per cent profits from the ponzi scheme are as stranded as those who borrowed or invested their working capital. The only class of MMM investors who appeared better off but still deep in pains, are those who invested their personal money and have nobody on their necks, except the mental torture they go through over the possible loss of the money.

This came as indications have emerged that since last year, when MMM announced a one month suspension of the scheme’s accounts, there had been an astronomical rise in the number of ponzi schemes being released in Nigeria.

However, while some ponzis lasted for a couple of months, others just crashed in a couple of days or even hours. Some of the new ponzis in Nigeria as at February 2017 are Twinka, AlwaysPays, Naira propeller, Donation- Hub, GetHelpWorldwide, GiversCircle and Claritta. Not left out are 247Helpers, PledgeCycle and Loopersclub. Some Mavrodians, as the MMM participants are called, may have embraced these new ponzi schemes while many more are still hopeful that they would be paid soonest.

A staff of a popular business establishment in Lagos State, Mr. Harrison Okojie, said the thought of losing his money is killing him but he has to bear it as a man.

“Make I tell you, na my mind I take dey carry this MMM matter. If I think about it, it will do me lot of damage, I can bear the loss of my money but my headache is the lady I borrowed N100,000 from, the amount belongs to her sister.

“This is my major headache now. If I can get something out of the scheme, I will use it to buy time from her first,” he said, having requested help weeks ago to no avail. The Managing Director of a private sector investment, Kenkenson Oil & Gas Limited, and treasurer of Apapa NUPENG, Mr. Clifford Onyechachi, said his N1.8 million was trapped in MMM and about N2.3million in three other schemes, of which the lump has affected his working capital. “Honestly, all my money is trapped in MMM and other schemes. It’s my money but it has affected my business badly because what I have is limited to my transactions. I still do small ones, trying to see how much I can get back. I invested N800,000 for my wife and N1 million for myself in MMM. I have over N2.3 million in three other schemes.

Those ones are on recession too,” he said.