At a time when there are growing apprehensions that the
Mavrodi Mondial Movement, MMM, scheme is fraudulent, the Central Bank of
Nigeria, CBN, has warned Nigerians to be wary of it, Daily Post report.
This is coming shortly after the Minister of Solid Minerals
and Steel Development, Dr. Kayode Fayemi, dissociated himself from the MMM,
saying he has nothing to do with it or any other online financial aid
community, projects or contracts.
The head of the consumer protection department of the CBN,
Kadija Kassim, on Monday said the activities of the scheme are not regulated by
any institution.
Speaking during a mentoring program for students of
Government Secondary School, Suleja, Kassim warned against the use of MMM
Federal Republic of Nigeria, a Ponzi scheme company, referring to the scheme as
a “wonder bank”.
“Don’t save what is left after spending, but spend what is
left after saving.”
DAILY POST learnt that many Nigerians have been lured into
MMM which functions as an online investment scheme.
The scheme claims to allow a 30 per cent monthly return on
investment for every investor.
No comments:
Post a Comment