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CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank - Investment (5) - Nairaland

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11 Reverend Fathers Defrauded Of N42 Million In Edo By 2 Men Via Wonder Bank / "Stop Investing In MMM" - CBN Warns Nigerians Again / SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud (2) (3) (4)

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Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by Johnnwokolo: 8:05am On Sep 16, 2016
There is no logical thinking person with an average IQ, that will believe MMM will work.

1. Incomes come from a productive sector and value added, what is produced and added to your money in 30 days that it will give you 30%/month interest. Only a fool will believe that. Ebay adds value, Amazon , Goggle adds value, which vaule does MMM add.

2. Financial services has to be regulated, who is regulating MMM and what are the long term growth and development plans.

3. If I put N100,000 and every one contributes 30,000 gift for me, why would they do that and when I contribute to others, why should I, I need my money.

4. Crowdfunding is an effective way to raise funds for your business ideas. People come together with some donations to funds ideas and when it becomes profitable, they share in the profits. Pensioners register invest funds and monitor young proteges until, the business in stable and they can divest. That is what our youth should be looking at.

5. There are more than $300million annually in grants, loans and equity funding for women and Nigerian youths to access.Youths from Kenya, India and South Africa have perfected the act of drawing in such funds with creative ideas.

The ball is in your court.

1 Like 2 Shares

Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by MadCow1: 8:06am On Sep 16, 2016
Boleyndynasty2:
One thing i still don't understand about this MMM is how they make the 30% they give everyone. Cause even people who ask for help don't pay back with interest so how do they make profit and also get 30% to pay everyone?


Look.. Somebody else pays you that interest.

Just call it 'a money ferris wheel'....



The day it crashes, people will only lose their actual investments they have put in at that time and nothing more. My advice is dont put in money that you can't afford to lose without recourse. So don't borrow to partake in it, dont pack your entire investment and don't bankrupt yourself to join.

If you have spare cash sitting down in an account that aint doing shiit for you and aint growing, then you can gamble with that.

MMM is a Gamble.. All Gambles carry a risk. Gamble wisely.

But what I assure you is that right now, that darn thing is paying.

2 Likes

Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by nandyz(m): 8:09am On Sep 16, 2016
Is this MMM only the online business,, Why is Nigeria Govt killing themselves fighting only MMM,, well na dem sabi,, MMM is changing people life now,, .. IF NIGERIA economy was good,, no body will have time to join MMM,. My advice to the federal government is dat they should work on their economy and stop fighting the platform that is on his own...... To me,,, MMM is real .. Please to join contact NANDY on 08065127286.. For easy torch...
Secondly, the money or the interest is paid by the participants.. No central account in MMM...
MMM make u live a life of financial freedom...
Contact me on 08065127286 for more details

2 Likes

Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by Brainaic(m): 8:10am On Sep 16, 2016
Princefrankie1:


The emboldened, how do Internet traffic on it's own generate income for the site owner? Or does MMM use Goggle adense to place adverts on it's site?

Please expatiate.

Yes. MMM uses Google adsense ads on its site.
Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by zhyzhy: 8:10am On Sep 16, 2016
The is no Rich person on earth who has not lost money. Not even one. Tell me If you know any. If losing money is the only excuse, it's not good enough. Dangote lost 5.4 billion just this year alone! Has he stopped investing? Your guess is as good as mine.
Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by zikter(m): 8:11am On Sep 16, 2016
ishiamu:



another registered customers money is what is given as the 30%.... they use another person's money to pay them... the mmm is banned in China, was banned in south Africa too... it's a good scheme while it last.. but wwhen it burst you will see the devil with your eyes
but the proponents say mmm does not have access to peoples money, that u pay straight to a members acct. the thing is confusing. if just someone backing the scheme, who is sensible can just come forward and clarify this
Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by Mmadu111: 8:11am On Sep 16, 2016
zikter:
can someone who is sensible explains how the 30% interest in a month comes abt? from the comments there is no central acct with mmm, so who is paying the interest as mmm will not trade with the money for profits. mmm proponents should explain this to the house. are the mmm coordinators not incurring any expenses? where do they get money to pay their workers? something is not just adding up here.
BBM me for details...56131163
Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by Nobody: 8:12am On Sep 16, 2016
Am very sure its lazy and money hungry individuals that patronize this mmm scheme. imagine if the owner of one of the banks in nigeria was sent to jail for fraud, would u keep ur money in the bank of such person?? everyone will say no. yet i wonder y people keep patronizing mmm when its founder Sergei Mavrodi was clearly convicted for fraud and sent packing to jail. this questions the moral standards of those in support of mmm in nigeria.

2 Likes

Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by shevy45(m): 8:12am On Sep 16, 2016
CBN Wey go catch fire soon, Una dey enjoy, una children dey abroad, una dey dere dey vomit unguided statement. Boredom is not an excuse for stupidity. Instead wey dem suppose 2 dey talk about he dem go revive the economy, na rubbish dem dey dere dey talk. Make una allow me hear word oh. Long live MMM.
Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by Boleyndynasty2(f): 8:12am On Sep 16, 2016
MadCow1:



Look.. Somebody else pays you that interest.

Just call it 'a money ferris wheel'....



The day it crashes, people will only lose their actual investments they have put in at that time and nothing more. My advice is dont put in money that you can't afford to lose without recourse. So don't borrow to partake in it, dont pack your entire investment and don't bankrupt yourself to join.

If you have spare cash sitting down in an account that aint doing shiit for you and aint growing, then you can gamble with that.

MMM is a Gamble.. All Gambles carry a risk. Gamble wisely.

But what I assure you is that right now, that darn thing is paying.
Okay Sir, thank you.

1 Like

Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by kceewhyte(m): 8:13am On Sep 16, 2016
youngzeal1:
my broda just give me a call 08032916720, I will help u out
alright Mekus I will.
Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by jaybee3(m): 8:13am On Sep 16, 2016
MadCow1:



Look.. Somebody else pays you that interest.

Just call it 'a money ferris wheel'....



The day it crashes, people will only lose their actual investments they have put in at that time and nothing more. My advice is dont put in money that you can't afford to lose without recourse. So don't borrow to partake in it, dont pack your entire investment and don't bankrupt yourself to join.

If you have spare cash sitting down in an account that aint doing shiit for you and aint growing, then you can gamble with that.

MMM is a Gamble.. All Gambles carry a risk. Gamble wisely.

But what I assure you is that right now, that darn thing is paying.

Interest derived from money borrowed from other participants?

It's simply a pyramid scheme

High risk high return investment with absolutely no safety net

1 Like

Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by skoloppy31(m): 8:13am On Sep 16, 2016
I just dey look these people wey dey run mouth say MMM dey pay,no wahala now,enjoy the euphoria while its last,but am pretty sure you would all come back crying and whining like a sissy because it's a Ponzi scheme,robbing Peter to pay Paul,so far the cycle of people registering continues.i could remember vividly year 2006 when these people came to Ibadan,bombarded every nooks and cranny,they have name like wealth solution,real and cool,treasure line, and many more,real and cool folded up just after 4 weeks ...people that's stays around GbAgi area should know there office then,many GbAgi market woman can't afford to sell cloths or pay for rent father this ordeal.
Let's who have ear hear what the spirit is saying.note my 15k was chopped too then,hard earned money ooooo,I purge for over 3 days.cos Na my 3 months savings.whenever that there agent is now,he shall not be well with him,cos I convinced momsy join and she lost 60k..I would rather use my money play sportbet,chop Suya ,chicken and chips than give it out to some useless scammers .

1 Like

Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by Princefrankie1(m): 8:14am On Sep 16, 2016
djblue007:
You can as well ask me how Mark Zuckerberg pays his staff. Sergey Mavrodi gains nothing from our transactions. Simply go for its ideology and stop blabbing in ignorance.

Arrh. Bros why
How can you be so confident saying what you dont know. sad

So you are comparing MMM app with Facebook? lol
Facebook is an application pre installed in mobile devices before sale. Meaning that Android as an operating system and an enterprise must first Sign a monetary contact with Mark Zuckerberg before his app will be run in the android operating system...that is just one simple example of how Mark Zuckerberg pays his staffs. Others are sale of shares in the company to investors, advert placements, donations, etc.

So answer his question, how does Mike make his money and pay his staffs.

You should have simply said you don't know instead of trying to belittle someone's sense of reasoning.

Anyways, MMM might generate funds through share sales and partnership deals.
Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by MadCow1: 8:15am On Sep 16, 2016
Johnnwokolo:
There is no logical thinking person with an average IQ, that will believe MMM will work.

1. Incomes come from a productive sector and value added, what is produced and added to your money in 30 days that it will give you 30%/month interest. Only a fool will believe that. Ebay adds value, Amazon , Goggle adds value, which vaule does MMM add.

2. Financial services has to be regulated, who is regulating MMM and what are the long term growth and development plans.

3. If I put N100,000 and every one contributes 30,000 gift for me, why would they do that and when I contribute to others, why should I, I need my money.

4. Crowdfunding is an effective way to raise funds for your business ideas. People come together with some donations to funds ideas and when it becomes profitable, they share in the profits. Pensioners register invest funds and monitor young proteges until, the business in stable and they can divest. That is what our youth should be looking at.

5. There are more than $300million annually in grants, loans and equity funding for women and Nigerian youths to access.Youths from Kenya, India and South Africa have perfected the act of drawing in such funds with creative ideas.

The ball is in your court.


Relax.. All that I.Q crap is unnecessary.

If you log into the MMM site, there is a clear warning on their site regarding the risk associated with the scheme.

This is not about I.Q this is simply a gamble. Unfortunately, alot of people have taken a more than passive interest in the scheme and have made it their main stay hussle.

1 Like

Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by Freelancer2015(m): 8:15am On Sep 16, 2016
djblue007:
You can as well ask me how Mark Zuckerberg pays his staff. Sergey Mavrodi gains nothing from our transactions. Simply go for its ideology and stop blabbing in ignorance.
Why must Nairalanders be rude when they try to prove a point to another?

A simple question, do you know better than the CBN?
How does fraudsters lure their preys?

The fact that MMM favours you now doesn't make it legit.

History will always repeat itself. MMM didnt just start up last year, it was first in existance in 1990s and it was tagged fraudulent even then. Over $10 billion was lost. Sergey Mavrodi is a russian criminal. Read up this wikipedia https://en.m.wikipedia.org/wiki/Sergei_Mavrodi.
Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by Valendo: 8:16am On Sep 16, 2016
Nigerians should be careful when it comes to business. This is not the first time this kind of business will pop up in this country. I have done it before and trust me the end is not good. Early members are the beneficiary of this scheme. One good thing you should ask yourself is where will MMM's profit comes from? Let me state categorically that there is no bank that will give you 30 percent of your money every month. So don't be deceived. MMM is not a good network marketing company because the features aren't there. Below are the characteristics of a good network marketing company

Products: that is the company must have products that can be reordered. If their products can not be reordered, then the Company will not make profit to stay in business.

Compensation plan: the compensation plan must be clear to everyone.

Owners: the owners must be known. Their background. Which means if they are not network marketers, please run from them.

Duration: ensure your company is more than 10 yrs in business

Finally, a good network marketing company must return at least 70 percent of the money you invest in some form of products.

Let me finally inform you all that networking is not perfect but it is better. It is not a quick rich thing but trust me it worths the stress.

All you need is a good company and get to work. If you are good in sales and marketing, I will advise you to try networking.

In case you wanna try my own company, feel free to contact me via o8o35747o65.

Thanks

Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by zikter(m): 8:16am On Sep 16, 2016
Mmadu111:
BBM me for details...56131163
I will appreciate if you can summarily explain here.
Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by MadCow1: 8:18am On Sep 16, 2016
jaybee3:


Interest derived from money borrowed from other participants?

It's simply a pyramid scheme


High risk high return investment with absolutely no safety net


Spot on..

It is indeed a kind of Pyramid scheme. And all Pyramid schemes one day crash (except for GNLD) grin
Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by Nobody: 8:19am On Sep 16, 2016
nandyz:
Is this MMM only the online business,, Why is Nigeria Govt killing themselves fighting only MMM,, well na dem sabi,, MMM is changing people life now,, .. IF NIGERIA economy was good,, no body will have time to join MMM,. My advice to the federal government is dat they should work on their economy and stop fighting the platform that is on his own...... To me,,, MMM is real .. Please to join contact NANDY on 08065127286.. For easy torch...
Secondly, the money or the interest is paid by the participants.. No central account in MMM...
MMM make u live a life of financial freedom...
Contact me on 08065127286 for more details
Every supporter of mmm always has this line "contact me for more details". its more like u all need more members to join so more money can be made for yourselves. how can u make money without an exchange of value?

1 Like 2 Shares

Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by MadCow1: 8:19am On Sep 16, 2016
Valendo:
Nigerians should be careful when it comes to business. This is not the first time this kind of business will pop up in this country. I have done it before and trust me the end is not good. Early members are the beneficiary of this scheme. One good thing you should ask yourself is where will MMM's profit comes from? Let me state categorically that there is no bank that will give you 30 percent of your money every month. So don't be deceived. MMM is not a good network marketing company because the features aren't there. Below are the characteristics of a good network marketing company

Products: that is the company must have products that can be reordered. If their products can not be reordered, then the Company will not make profit to stay in business.

Compensation plan: the compensation plan must be clear to everyone.

Owners: the owners must be known. Their background. Which means if they are not network marketers, please run from them.

Duration: ensure your company is more than 10 yrs in business

Finally, a good network marketing company must return at least 70 percent of the money you invest in some form of products.

Let me finally inform you all that networking is not perfect but it is better. It is not a quick rich thing but trust me it worths the stress.

All you need is a good company and get to work. If you are good in sales and marketing, I will advise you to try networking.

In case you wanna try my own company, feel free to contact me via o8o35747o65.

Thanks


FOREVER LIVING O!!!!!!!!!!!!!!!!!!!


Scam Alert.. grin
Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by lanrei(m): 8:19am On Sep 16, 2016
This whole castigating of MMM is becoming obscure and tiring abeg let ppl do what they please with their money.. I hate when people keep repeating things over and over
Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by Atilah: 8:19am On Sep 16, 2016
He's does not. Even have idea of how it works what I know is that mmm does not have bank account they just connect two pple together so am not paying to mmm
Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by dejisky(m): 8:20am On Sep 16, 2016
SEC made me to know MMM, now I am making money frm MMM.CBN keep promoting mmm. MMM has come to stay and s a blessing to us.

2 Likes

Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by MrDojo(m): 8:20am On Sep 16, 2016
Mmadu111:
you're the wisest right?...sit down and watch revolution sweep at your feet. MMM is not a bank, it's a community of people helping each other. Joining is a choice okay . I was once thinking like you not untill I gave it a trial and saw the working of the system, it's superb, since past 3months I joined I have never regrated anything but regrated not joining early enough and have made cool 4M rewards from mmm since then ....you can chose to remain slave of the banks. Considering the recession Nigeria is facing currently, MMM is the ideal, MMM pays...it rocks, leave it or take it.

Cool story bro... more naira to your acct

1 Like

Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by Nobody: 8:21am On Sep 16, 2016
zikter:
I will appreciate if you can summarily explain here.
he wont, he needs gullible people to convert into members so he can make more money for himself.
Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by cyber5(m): 8:21am On Sep 16, 2016
Am having second thoughts about MMM
Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by Valendo: 8:22am On Sep 16, 2016
MadCow1:



FOREVER LIVING O!!!!!!!!!!!!!!!!!!!


Scam Alert.. grin

Shame on you. It is pity that majority of you are so ignorance. I don't blame you. I blame the people that wasted their hard earned money to send you to school. You have only display the kind of person you are.
Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by djblue007(m): 8:26am On Sep 16, 2016
Valendo:
Nigerians should be careful when it comes to business. This is not the first time this kind of business will pop up in this country. I have done it before and trust me the end is not good. Early members are the beneficiary of this scheme. One good thing you should ask yourself is where will MMM's profit comes from? Let me state categorically that there is no bank that will give you 30 percent of your money every month. So don't be deceived. MMM is not a good network marketing company because the features aren't there. Below are the characteristics of a good network marketing company

Products: that is the company must have products that can be reordered. If their products can not be reordered, then the Company will not make profit to stay in business.

Compensation plan: the compensation plan must be clear to everyone.

Owners: the owners must be known. Their background. Which means if they are not network marketers, please run from them.

Duration: ensure your company is more than 10 yrs in business

Finally, a good network marketing company must return at least 70 percent of the money you invest in some form of products.

Let me finally inform you all that networking is not perfect but it is better. It is not a quick rich thing but trust me it worths the stress.

All you need is a good company and get to work. If you are good in sales and marketing, I will advise you to try networking.

In case you wanna try my own company, feel free to contact me via o8o35747o65.

Thanks
This is not business my brother. It's simply a community of people who give help to one another and get rewarded.
Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by bibiano: 8:26am On Sep 16, 2016
Pierocash:
it ruite unfortunate that CBN has joined d team of ignorant wailers attacking MMM without finding out how it works.how wil MMM RUN wit peoples money,is MMM a bank?do they av access to anybody's money that they wil run away wit?.no body pays to MMM,It is only a
platform connecting participant who donate to each other directly thru individual bank accounts.they should stop attacking MMM,no participant har ever lost a dime to MMM over d yrs
Long live MMM

Broa tread carefully ohhhh.....how sure are u dat one of those account numbers u are paying money into isn't their agents? MMM pays but be careful?? How do dey generate d 30% dat dey give out, the 10% referral bonus??
I guess u would say through "traffic generated" on the website. But dey don't have a single advert on the website to show that dey are making money through dat means. Which leaves me to think that they keep sending their account numbers amongst real Nigerian ppls account. It's like robbing Peter t pay Paul... Once there is no more Peter to rob, Paul would become duped. Pray not to be the Paul at d moment when they don't find a Peter to rob. #toBeForewarnedIsToBeForeArmed #AwordIsEnuffForTheWise
Re: CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank by MadCow1: 8:26am On Sep 16, 2016
Valendo:


Shame on you. It is pity that majority of you are so ignorance. I don't blame you. I blame the people that wasted their hard earned money to send you to school. You have only display the kind of person you are.

Shame on me? grin

Really?

O! And someone can't be "IGNORANCE". grin And to think you were talking about someones parent wasting their money on someones education.

And the kind of person I am is one that calls out bullshit when I see it.. No need to get your panties in a bunch puppy. cool

1 Like

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