The attention of the Securities and Exchange Commission, Nigeria (“SEC”) has been drawn to the activities of an online investment scheme tagged ‘MMM Federal Republic of Nigeria (nigeria.mmm.net). The platform has embarked on an aggressive online media campaign to lure the investing public to participate in what it called “mutual aid financial network” with a monthly investment return of 30%.
The Commission hereby notifies the investing public that the operation of this investment scheme has no tangible business model hence it’s a PONZI SCHEME where returns are paid from other people’s invested sum. Also, its operation is not registered by the Commission.
The general public is hereby advised to distance themselves from this online scheme. Please note that anyone that subscribe to this illegal activity does so at his/her own risk.
Interestingly a Nigerian journalist PEGA who is part of the MMM network insists that it is NOT a fraud. According to PEGA, the scheme is very helping and in about three months since joining the network, he has gotten returns of over N1 million.
MMM (information courtesy of PEGA)
MMM Nigeria is a newly launched platform for all Nigerians to be part of the Global Community of MMM.
MMM’s motive at all times is to extend its helping hands through its social financial network. Allow me share with you what MMM is in details so that you can understand it better.
What is MMM?
MMM is not a bank, MMM does not collect your MONEY, MMM is not an online business, HYIP, investment or MLM program. MMM is a community where people help each other. MMM gives you a technical basic program, which helps millions of participants worldwide to find those who NEED help, and those who are ready to PROVIDE help for FREE.
As simple as this might look like some still find it difficult to understand, so i will like to break it down in this form:-
What is Help:- This means assistance rendered to make impact in someones’s live. It is majorly financial as Money is a Defence for all.
MMM is the world’s largest donation exchange with over 200 million particpants and in over 118 countries worldwide. It is a peer-to-peer donation platform that assists anyone who needs any form of financial help.
To make this a reality, MMM rewards every donation monthly with 30% on any Help amount (From $10 or 2000naira minimum) provided. This 30% monthly growth rate on every help provided is solely based on the commnuity’s monthly growth rate.
Sincerely, MMM’s growth is alarming monthly because it is a Giving Community. That naturally draws millions to it on a monthly basis.
Let me guess what you are thinking? hahahahaa… Another networking marketing scheme???
That is a BIG NO, NO, NO!!! – MMM is not MLM, Network markeing or HYIP!!!
It is simply a Giving Community filled with people who are ready to help without any legal agreements, contracts or what are view that we have in the conventional world system before you can ever get assistance.
MMM is a community of people providing each other financial help on the principle of gratuitousness, reciprocity and benevolence.
In MMM you don’t have to make contracts or pledge your property. In MMM there are no lenders and no debtors. Everything is very simple: one participant asks for help — another one helps.
The only thing that MMM demands from its participants is to be honest and kind to each other. You ask for financial help when you need it, you give financial help when you are able to do it.
VERY IMPORTANT!
There is no сentral account, where all the System money flows to (and where it can be easily stolen from :-)). All the money is only on the banking accounts of the participants themselves! On a lot of thousand and million private accounts. Participants transfer each other money directly, without intermediaries! (What are they for? :-)) In fact, MMM only regulates the process and nothing more.
I.e. the System completely belongs to people. Without fools! It is a real mutual aid fund, where ordinary people help each other.
How is it working technically? You declare the willingness to give help (click in your Personal Office (hereinafter PO) “Provide Help”), after which your account will be credited with mavro (internal currency of the System). Mavro’s amount will start growing from the moment of deposit at the rate of 30% per month. (Calculation of interest occurs twice a week, on Tuesdays and Thursdays at 00:00 GMT.) This sum in mavro shows how much you can request yourself.
Say, you have announced wilingness to assist with $ 100. You will be credited in your PO with 100 mavro. And they will immediately start growing! A month later, these 100 will become 130 mavro. Accordingly, you will be able to request assistance for $ 130.
However, it is not necessary at all to wait for a month. Help can be requested at any time. But only after confirmation of your mavro. What does “after confirmation” mean? It means only after you actually transfer money, i.e. really give assistance to another participant. (But not just declare willingness. :-)) Request for providing help comes to you in your personal office. If you do not do it within 48 hours, you will be removed from the system.
There you have it guys. It’s now left for you to make an informed decision based in the facts of ground. Do leave your comments.
Sogun di ogoji
Mavrodi is a Russian criminal who was jailed in Russia and driven from south Africa. By the time he is through with many Nigerians and runs away with their money it will be too late. Cnt efcc just shut them down already?
Lol… Pascal, I only pity ur kind.. MMM has touched a lot of lives.. Pls jst ask an mmm participant… Mavrodi was once arrested.. Doesn’t mean a thing… There’s no central account.. Ur money goes nowhere other than another participant’s account… Keep believing d trash u listen to on d news.. MMM will keep on growing.. It’s a pity u’l b missing out Nd keep being slave of dis financial system.. MMM is helping us b independent in d very little way we can.. U Cnt b an mmm participant nd complain abt d world’s financial system cos it doesn’t affect u anymore.. Nigga, get ur facts right nd stop saying wah u dnt knw… Once again i tell you.. DERE AINT NO CENTRAL ACCOUNT IN MMM.. WE HELP EACH OTHER.. NO ONE IS RUNNING AWAY WITH ANYTHING.. WE AIN’T COMPLAINING.. JOIN US OR SHUT D F UP!!!!!!!!!
I’m not a naysayer but as with all ponzi schemes when they’ve roped enough people in they one day decide to shutdown.
Now tell me when the platform shuts down, unexpectedly if I may add, who will you turn to for your money.
There is no visible office or phone number, just the platform
Be wise, people!
Dont be decieved it is not a Ponzi scheme. Dont be a slave to hard work
#clearsthroat# funny as it may seem, I joined the network after a relative talked me into it. So far I have not regretted albeit caution is ny watchword. *winks
There’s a sucker born every minute. Good luck to y’all
Lol. No chill
Why won’t the SEC just focus on how to revice the economy rather than trying to bring down the one thing that is trying to eradicate poverty from its Nigerian citizen? MMM cannot be a scam. This is a platform where you provide help to someone willingly with your spare money and get helped in return. I thing they are afraid because they have seen that MMM is trying to bridge the gap between the rich and the poor and it’s scares them because all they want is for Nigerians to remain in poverty. Let me ask a quick question, how much interest do banks pay Nigerians annually? Now they are afraid because MMM has revealed their secret of how banks use our money to invest, make huge profit from out money and pay us peanuts as interest from the huge profit they make. MMM is not a bank, its not an investment, it has no Central account where all money is been paid to, rather the account of its participants. MMM is real. MMM doesn’t deceive its participants like the banks. Register with MMM today and become financially free
A scam is the government who will promise you heaven and earth and deliver to you hell on earth, economic instabilty e.t.c Its so unfortunate that most people had adapted to hardship that they fail to see when the opportunity for liberation shows up. MMM is no PONZI SCHEME, NO CENTRAL ACCOUNT where someone can gulp no available money away. It is simply a Peer to peer money donation. i decide to give you my money at my will and i recieve my money back. The Movement is God sent to liberate many from the oppression of the Devil of Poverty. Wait and be looking for the downfall of what God had instituted.
MMM rocks, lives are touched, your government only knows how to take from the masses and don’t know how to give to the masses, but to still indirectly from them.
Nawa there are various forms of scammers everywhere, abeg am not interested.
U’l b missing out dear… Give it a try..
MMM is real and has come to stay in Nigeria. People have become financially free curtsey of this platform. Long live MMM, together we change the world.
*WHEN THEY CALL MMM A SCAM, SHARE THIS WITH THEM*
Is MMM really a scam?
Is it a scam to have a system that brings a community of people together that financially help one another, willfully, without being forced?
Is it a scam to have a system that creates a platform for individuals to combat poverty at its core?
We always say fighting poverty is a collective effort; Now instead of people stealing, cheating or robbing they join their hands in good heart to provide financially help to one another, is that scamming really?
Is it a scam to see families that couldn’t afford to bring food on the table now able because of the financial help they have received from other nembers?
Is it a scam to see students who couldn’t afford to have pocket money and monthly allowances in tertiary institutions now able to afford because of MMM?
Is it a scam to see entrepreneurs rising from the capital money raised through MMM and in return they contribute to the economic growth of this country and create employment to thousands?
I will tell you what a scam is?
A real scam is to hinder people to their financial freedom yet encourage them to keep borrowing from your system so that they work for you and pay the rest of their lives if they live that long…
A real scam is to have someone work 40 years of his/her life and after retirement that person must take the fruit of his/her years of hard labour and pay the debts and bonds that refused to end because of ever increasing interest rates.
A scam is when your bank sends you an sms alert to inform you that you have earned #0. 50 on your money, and later charge you #4. 00 on the sms alert. Your bank also charges you exorbitantly every month on something you know nothing about ; and there’s nothing you can do other than to keep quiet because you have no choice.
A scam is when your mobile network provider charges you on the service you never make a request for (caller tunes, news updates, etc)
Working for a government and being paid the same salary as when 1 Dollar was N165 till now is a scam.
Working for government for years without promotion is a scam.
Working for so long and just getting a sack letter or retiring broke and in debt is a scam.
Serving your country for one year and crying to get a job is a scam.
Not being paid salaries for 5 months or more is a SCAM.
Not being able to transfer your job to your children is a SCAM.
Spending 6 years in Primary school, 6 years in Secondary School, 4, 5, 6 years in Higher Institution, 1 year Internship (for some) 1year of NYSC and at the end you still roam about looking for non-existing job is the REAL Scam.
Meanwhile someone somewhere is enjoying financial freedom, making millions, driving brand new cars etc all in joining MMM without submitting CV, NYSC discharge Certificate etc….and people still say it’s a scam?
Is it therefore a scam to have a system that produces people that can afford to buy a house they could have paid for 20 years in cash had such a system not been introduced?
Is MMM a scam? You can make your own judgment as to who a real scammer is.
Please share this message everywhere, the world needs to hear it.
It’s not too late
Do you want to be financially free? Join the Community of people helping people and get 30% monthly on your spare money.
Register now
http://bit.ly/29nqzJb
http://nigeria-mmm.net/registration/
My email is: pegafacts@gmail.com
Watch testimony video below:
https://youtu.be/B-hzmkTKXQA
Lecture on:
http://mmmreality.blogspot.com.ng/
Together We Change Nigeria
All that govt has promised Nigerians, which one have they been able to achieve.
This is calling a dog a bad name in other to hang it.
Leave MMM alone. MMM is REAL and have been keeping its promises to all that give help in their platform.
Government should encourage or join MMM or leave them alone.
Period.
MMM is real
MMM all d way!
Mmm is just too good. I believe behind eradication of mmm are all these networking people,as mmm has taken over completly and pose a great treat to there existence. So far people doing it are not complaining,then wats their own problem. Long live mmm nigeria.
MMM rocks!!!!! mmm for life!!!
From the thread I am reading here, MMM is very good for people involved. Nobody is complaining of loosing money. I think this paper should do more research rather than just spreading SEC news.
What is the Global Financial System but Ponzi? Elite people control all Central Banks and the Central Banks in turn control all Commercial banks. What real business are banks doing to be posting billions of naira profit they are posting in Nigeria. It’s all a round tripping business. A beg allow people to choose what they want to do with their money jare! Ride on my people!! This is democracy.
MMM is just to real and for those of you thrashing out maggots from your mouth, badmouthing MMM, keep dying in poverty while MMM changes d world.
By the time I start riding my car with a costumized plate number which says MMM PAYS, y’all Thomases, doubters, badbelle and unfortunate and poor freaks saying nonesense about the scheme will know Whatsup then. As for me and my household, we will continue doing MMM for as long as its around.
Join here if u have a change of heart. If not F off!
http://nigeria-mmm.net/?i=toby4tope9@gmail.com
If this is how scam pays then we love it. Govt. Pls allow us to be scamed.