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. According to FINANCIAL WATCH, those reports are totally false.
Although, financial analysts believe MMM Nigeria’s crash will happen at some point but nobody knows 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.
Despite all these warnings, MMM is gaining more grounds in Nigeria. Participants are happy and increasing in number. You would recall that MMM Nigeria clocked One Million members on Independence day. While some Nigerians were lamenting on the failed government and economic hardship, MMM members were laughing to the banks and celebrating Independence in styles.
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