Thursday, 10 November 2016

New Law: National Assembly Orders Arrest of MMM Promoters

The House of Representatives has instructed all law enforcement agencies to begin capturing those promoting the MMM Ponzi Scheme.New Law: National Assembly Orders Arrest of MMM Promoters 

The lower house of legislature on Wednesday, November 9th concurred that the plan implied inconvenience for Nigerians and ought to along these lines be stopped. Anyone caught promoting would be dealt with as a criminal and arrested by security agencies. 

- UK Newspaper Cautioned Nigerians off MMM Global Ponzi Scheme

The officials moved the motion as an issue of earnest national importance after finding individuals from a syndicate who conduct seminars to train individuals on the best way to put resources into the business.

The decision was raised by Akinlade Fijabi from Oyo State, who describe MMM as a 'Rob Peter to Pay Paul Scheme' which is exploiting the financial circumstance of Nigerians that had left them desperate for money through any methods without considering the implications. Another administrator from Ondo State, Bode Ayorinde said: "When the business goes burst, it is a similar House that individuals will visit with petitions." 
 
Dennis Amadi said the House ought to secure Nigerians on the grounds that the crumple of MMM could make numerous commit suicide. "The House won't hold up until these hooligans cheat Nigerians of billions of naira or until individuals begin committing suicide," he said.

- Tears as MMM Zimbabwe Crashes, Millions of People Loses Money

According to reviews, the Central Bank of Nigeria (CBN) has cautioned Nigerians against the utilization of MMM Federal Republic of Nigeria, a Ponzi scheme organization. Speaking during a mentoring program for students of Government Secondary School, Suleja, the head of the consumer protection department of the CBN Kadija Kassim said the activities of the scheme is not regulated by any institution.

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