Business FG Moves to Shut Down MMM Operations in Nigeria

[LequteMan]

The Federal Government of Nigeria has initiated moves to shut down MMM operations in Nigeria.

Managing Director of the Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim, said regulators have set up a Committee to stem the nefarious activities of the fraudsters across the country.

“I wish to sound a word of caution to members of the public on the activities of illegal fund managers, otherwise known as Wonder Banks.

"It is worrisome to note that despite repeated advice, many unsuspecting members of the public are still falling victims to the mouth-watering interest being offered by these illegal fund managers.

"Members of the public are therefore advised to patronise only banking institutions that display the NDIC sticker: “Insured by NDIC” in their banking halls or entrances.

"However, the regulatory authorities have set up an inter-agency committee under the Financial Services Regulatory Coordinating Committee(FRSCC) to stem the nefarious activities of these fraudster across the nation”.

Umaru spoke on Monday during the NDIC Special Day at the 2016 Lagos International Trade Fair.

 

[Ugochukwu]

Both the indicand FG are all jokers, what is their own business, must they always benefits from the suffering of the poor masses, we want to participate in MMM, leave us alone, we want to be scam please leave mmm alone.

 

[wazobiaplus]

Both the indicand FG are all jokers, what is their own business, must they always benefits from the suffering of the poor masses, we want to participate in MMM, leave us alone, we want to be scam please leave mmm alone.

The laws are for the protection of the most vulnerable. MMM is a ponzi scheme, that is a fact.

Ponzi scheme definition:

a form of fraud in which belief in the success of a non-existent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors.

 

[ProfRem]

Ooooops.....! Nigerians never expected it at this hour.....

 

[kingibey]

Ooooops.....! Nigerians never expected it at this hour.....

 

[kingibey]

Please let wait till then .... what our leaders are doing are more dubious than this issue of MMM....let the FG find solution to the problem of this recession... Infact, I am a participant...if my money is gone...I would not cry to FG neither to anyone afterall, if i cry to FG they won't do anything about it..FG. should put the problem of unemployment on her table first not MMM ....Yeyenatu!!!

 

[curator]

Please let wait till then .... what our leaders are doing are more dubious than this issue of MMM....let the FG find solution to the problem of this recession... Infact, I am a participant...if my money is gone...I would not cry to FG neither to anyone afterall, if i cry to FG they won't do anything about it..FG. should put the problem of unemployment on her table first not MMM ....Yeyenatu!!!

there should not be a law against 419 because we are in a recession?

 

[ProfRem]

Please let wait till then .... what our leaders are doing are more dubious than this issue of MMM....let the FG find solution to the problem of this recession... Infact, I am a participant...if my money is gone...I would not cry to FG neither to anyone afterall, if i cry to FG they won't do anything about it..FG. should put the problem of unemployment on her table first not MMM ....Yeyenatu!!!

Don't you think it is funny if we allow this to go by because umeployment is HIGH. The little you invested in MMM and sustain you for another business and tomorrow you may become the next Billionaire. What do you think @kingibey ?

 

[okekiaas]

What is this FG's problem sef, Na aproko dem be! they have sound the warning and if people want to go ahead and invest in mmm, then allow them, afterall is not FG's money, its individual's money. Their are more pressing issues to look into joor...

 

[wolepat]

A doctor who involved storms on his village cannot prevent his house from destruction.

 

[Sholly]

The Federal Government of Nigeria has initiated moves to shut down MMM operations in Nigeria.

Managing Director of the Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim, said regulators have set up a Committee to stem the nefarious activities of the fraudsters across the country.

“I wish to sound a word of caution to members of the public on the activities of illegal fund managers, otherwise known as Wonder Banks.

"It is worrisome to note that despite repeated advice, many unsuspecting members of the public are still falling victims to the mouth-watering interest being offered by these illegal fund managers.

"Members of the public are therefore advised to patronise only banking institutions that display the NDIC sticker: “Insured by NDIC” in their banking halls or entrances.

"However, the regulatory authorities have set up an inter-agency committee under the Financial Services Regulatory Coordinating Committee(FRSCC) to stem the nefarious activities of these fraudster across the nation”.

Umaru spoke on Monday during the NDIC Special Day at the 2016 Lagos International Trade Fair.

One need to be very careful about this so called MMM of a thing. I already knew that there must be something fishy about it. Thank God am not involve in it.

 

[LequteMan]

One need to be very careful about this so called MMM of a thing. I already knew that there must be something fishy about it. Thank God am not involve in it.

Please tell your friends too. It's a house of cards.

 

[curator]

A word is never enough for the ...

 

[Azeez Taiwo]

Calling MMM scam i don't get it..the greatest scam is budget paddling..or Rep has forgotten?

 

[onodi tochi]

Tell them again @azeez

 

[wazobiaplus]

Calling MMM scam i don't get it..the greatest scam is budget paddling..or Rep has forgotten?

Budget padding is a scam and so is MMM

 

[Ekechukwu Chukwuemeka]

MMM is as real as you can feel your skin. There is nothing like scam in it. PLEASE IGNORE CBN, SEC AND FG. They are only good at depriving Nigerians of what will be beneficial to them while they go behind them to take advantage of it. Many of them are into MMM BIG TIME. Let me end it here. (contact number removed by admin)

 

[wazobiaplus]

MMM is as real as you can feel your skin. There is nothing like scam in it. PLEASE IGNORE CBN, SEC AND FG. They are only good at depriving Nigerians of what will be beneficial to them while they go behind them to take advantage of it. Many of them are into MMM BIG TIME. Let me end it here. For more details on MMM contact me via +2348063603645 (whatsapp, call and sms)

MMM is a scam that is a fact not an opinion. Everyone in the world knows it is a pyramid scheme... a simple house of cards waiting to destroy the lives of the gullible looking for easy money in hard times.

 

[Ataime15]

lol funny govt.