Politics House of Reps Order EFCC, CBN To Arrest ‘MMM’ Nigeria Promoters

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The House of Representatives on Wednesday ordered the Economic and Financial Crimes Commission and the Central Bank of Nigeria to immediately go after the promoters Mavrodi Mondial Moneybox, otherwise known as ‘MMM’ in Nigeria.

Lawmakers warned that the “trick” used by the operators was to attract as many Nigerians as possible to invest substantial amounts of money before the bubble would burst.

MMM Nigeria promises 30 per cent return on investment for any money put into the scheme within 30 days.

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The investment scheme has a Russian origin and “involves directing clients to make money available for an anonymous person with a promise of 30 per cent return within one month.”

But, members described the scheme as a “scam” and warned Nigerians not to be carried away by the “mouth-watering” returns on investments.

The Chairman, House Committee on Telecommunications, Mr. Saheed Fijabi, lawmaker from Oyo State, represents Ibadan-South/West Federal Constituencyhad in a motion, drawn the attention of the House to the growing popularity of the scheme among Nigerians.
 
MMM has come to stay. Pls how many jobs has federal govt or the jobless reps attacking MMM created since the begining of this visionless and unserious govt? MMM is not a scan and they can only block you if you break their simple and honest rules. There is no central account one pay in money. Pls the so called fijabi or is it jabifi come and let a starter of MMM educate you on what MMM is. You are talking out of ignorant. Meanwhile what concern you with how i spent my money? Have i benefited anything from you or any other rep? PLS MIND YOUR BIZ!!!
 
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