There has been some reports flying around about a purported folding up of Ponzi Scheme, MMM Nigeria in Lagos which have sent “investors” in the scheme into early panic.
We can report that the reports are false.
Although this can serve as a respite, but analyst believes MMM Nigeria’s crash is not if, but when. Already, there has been been several warnings from Nigeria’s Security and exchange commission (SEC) and the Central Bank of Nigeria (CBN) to Nigerians against investing in such ponzi schemes.
Last month it was confirmed that thousands of people, among them civil servants and vendors, have lost thousands of dollars to fraudulent online pyramid scheme MMM Global Zimbabwe after it collapsed recently.
The social financial network, which relied on an accelerating number of new members to pay off the old, abruptly terminated its services leaving participants stranded.
Ever since the crash report of MMM Zimbabwe, many media watchers have been in anticipation of an imminent crash of MMM Nigeria; but that is yet to happen as at the time of filling this report which gives prospective investors time to think twice about the scheme before parting ways with their money.
However, MMM Nigeria’s crash is imminent as predicted by SEC and CBN, it is now the right time to flee from the ponzi scheme before it is too late