This is coming shortly after MMM announced the complete shut down of its scheme, following the death of its founder
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The administrators of the site had in a statement issued on April 6, 2018 reminded participants of an earlier warning on the risk associated with the scheme.
Reports said the 62-year-old was rushed to the hospital late on March 25 with pain in his chest and died several hours later.
In a message posted on the home page of participants on Saturday morning, the scheme said it had struggled to stay afloat after going on a break in December 2016 but had been forced to do a system restart.
A letter displayed on the pages of participants of the scheme, urged them to invite new members
They collected money from the complainants but did not return both the principal and interest
The Managing Director of the corporation, Umaru Ibrahim, while speaking at the NDIC day at the just concluded 38th Kaduna International Trade Fair, said more than three million Nigerians were participating in the scheme before December 2016
The information was forwarded on Wednesday to members of the ponzi scheme
Ugorji allegedly fled the country while many investors were awaiting anxiously to be paid back their money with the agreed interest
Google Trends, launched in May 2006, allows one to see how popular search terms and its demography have been over time on the search engine
The MMM promoters in a message to the participants on its portal reassured them that it was in line with its promise to resume after a month
According to Nigerian Bulletin, MMM programmers are working earnestly with a new model, which will be announced and implemented at a later date
If you like, summon the Holy Ghost. We have never had a Christmas like this one. On Christmas eve in Lagos, come and see people just going about, many of them aimlessly. The kind of shopping that heralds Christmas was absent. For the first time, I could see the real colour of sadness, frustration and regret on the people’s faces
Chiamaka Ugorji, the wife of Chuddy Ugorji, a leading MMM Nigeria promoter, attempted to calm nerves by writing an open letter to participants, but this failed to reassure Nigerians that their investments were safe
Taiwo Kola-Ogunlade, Google’s Communications and Public Affairs Manager, Anglophone West Africa, made the disclosure in a statement in Lagos
This means that members of the ponzi scheme, who are due to withdraw both their capital and 30 per cent return on investments, will no longer be able to do so until sometime in January 2017
The Mavrodi Mondial Movement popularly known as MMM has gained popularity among Nigerians as the programme promises a monthly payment of 30 per cent interest on loans provided by participants
The News Agency of Nigeria reports that the gesture was part of the community’s humanitarian week tagged: “MMM cares,” to mark its one year anniversary
The call was sequel to a unanimous adoption of a motion by Rep. Saheed Akinade-Fajabi (Oyo-APC) at plenary on Wednesday in Abuja.
Akinade-Fajabi, in the motion, said the scheme was set up by three Russian nationals in 1989 and that clients were made to invest monies with the hope to make 30 per cent interest in 30 days
The Security and Exchange Commission of Nigeria and the Central Bank of Nigeria have alerted on the implication of losing money to the acclaimed fraudulent online money making scheme. Financial analysts also believe it is a dangerous investment, more so that it has no guarantees, no legal documents signed and no visible business links established except for the cash transfers from and to people who are totally strangers