Saturday, 1 October 2016

UK Newspaper Cautioned Nigerians off MMM Global Ponzi Scheme

Continuation of the crash of the Mavrodi Mondial Moneybox plan in Zimbabwe famously known as MMM, the UK Independent daily paper has cautioned Africans against putting their cash into the Ponzi Scheme.UK Newspaper Cautioned Nigerians off MMM Global Ponzi Scheme

There are similarities about this plan in Zimbabwe and Nigeria, as it takes after the same model. Both nations are likewise encountering an economic crisis and a large number of its nationals have swung to the MMM Global as a means of livelihood.

An extract from The Independent's article expressed;

"That is regardless of a notice from the Reserve Bank of Zimbabwe that the plan was deceitful. RBZ warned individuals from people in general that current financial specialists were "paid cash not from certified business sector venture of their assets, but rather from commitments made by new investors, until a moment that the plan can no more pull in new investors".

What it just means is that the more individuals needing assistance has outnumbered the number of people joining. At this moment we have no place to get our cash which we contributed."

In spite of the wake up calls of Zimbabwe and South Africa – and to be sure the first MMM plan – a branch is currently demonstrating progressively famous in Nigeria.

A quote from a Central Bank official said; "These individuals dependably accompany exceptionally fascinating suggestions," Mr Okoroafor said. "These are fraudsters who are simply out there to gather individuals' cash and flee when they hit their objective."

Nigeria's Central Bank and the Securities and Exchange Commission have cautioned Nigerians off the plan however the guarantee of 30% Returns has demonstrated a lot for most people to stand up to.


This plan is brought to Nigeria due to the look of economy Downfall and this has brought about the despiracy and eagerness to have money......this eagerness will ma ke African loss the little the have. Considering this quote from AKANBI SEGUN MANDATE since the poor ar not wise, the wise will continue to be rich from the poor ignorance......not all that glitter is considered gold.

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