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'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" - Business (4) - Nairaland

Nairaland Forum / Nairaland / General / Business / 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" (77330 Views)

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Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by Nobody: 11:02am On Nov 01, 2016
What I don't understand is that CBN is only creating publicity for this scheme. Most of us are aware of the risk

2 Likes

Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by sarahade(f): 11:02am On Nov 01, 2016
Long live mmm.
Yeye CBN who dem epp. Recruits 1000 people we no see their advert for punch o but they wan die for mmm useless cbn and government.

For my fellow nigerians taking paracetamol for someone else headache please stop listening to this our fraudulent leaders that have nothing sensible to say on serious matters talkless of irrelevant ones.

If mmm crashes tomorrow i know my money didn't go into the pocket of any greedy politician who has nothing to offer than corruption,child marriage, propagandas and so on.

Pm me if you want to know more.

11 Likes

Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by Listening(m): 11:02am On Nov 01, 2016
chriskosherbal:
We are listening.
We dey hear abeg my mentions too many na cry
Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by caracas: 11:02am On Nov 01, 2016
coollabman:


Yes! the CBN is a reputable government agency!



you'd be surprised the kind of power at the disposal of the government. they can go as far as making the MMM website inaccessible in Nigeria (since they have no physical address). Something similar was done in China!
How is making n receiving donations now a scam .
The concept of mmm is perfect very perfect .unless government deci


Common be real! How and when has the Nigerian government scammed you?! MMM is still in its nascent stage (barely one year) in Nigeria! It will eventually grow so big and will burst like a bubble! dragging all of you hooked up to the system down the drain. That's why a ponzi scheme (that has a pyramid structure embedded in it) is dangerous. A few people make money and it appears to be legitimate for a while. Eventually more unsuspecting people join and it grows to a stage where it collapses. Causing those that join late in the lifespan of the scheme to loose money! that's why its a scam! MMM is a scam!

How is making n receiving donations now a scam .
The concept of mmm is perfect very perfect .unless government decides to forcefully n illegally stop it the mmm buisness wud continue to thrive for many years to come ,cos the model is honest genuine n very open .
Mmm rocks.

6 Likes

Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by ken2baba(m): 11:03am On Nov 01, 2016
coollabman:



I can't believe someone will type this rubbish on a public forum! You mean that after being warned about the dangers of something by a government official from a reputable government agency you still ask such stu.pid questions?! Now imagine if NAFDAC warns Nigerians about a particular product and tells them to desist from buying/consuming it, is it wise to ask NAFDAC is it their money? is it their own life at risk? imagine the nonsense! angry angry better heed the warning and stop fooling yourself.
There's no quick and easy way to make money #Word.
there is something u don't get.
.
Every mmm participant knows d risk involved because it is written all over d website.
.
Every business is about risk.
.
There would b no dangote without risk.
.
Some people have made 5times what dey r investing in mmm.
.
When d gethelp exceeds d providehelp, mmm will close down.
.
The new comers will lose but those dat has made a lot from it won't b affected except dey reinvested all they gained.
Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by LorenzoU: 11:03am On Nov 01, 2016
until it crashes I am busy packing my dough

2 Likes

Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by linusbnn(m): 11:05am On Nov 01, 2016
coollabman:



I can't believe someone will type this rubbish on a public forum! You mean that after being warned about the dangers of something by a government official from a reputable government agency you still ask such stu.pid questions?! Now imagine if NAFDAC warns Nigerians about a particular product and tells them to desist from buying/consuming it, is it wise to ask NAFDAC is it their money? is it their own life at risk? imagine the nonsense! angry angry better heed the warning and stop fooling yourself.
There's no quick and easy way to make money #Word.


MMM gives good money. NAFDAC is different from CBN. CBN officials are also involve in the business of MMM secretly

1 Like

Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by falconey(m): 11:06am On Nov 01, 2016
coollabman:



I can't believe someone will type this rubbish on a public forum! You mean that after being warned about the dangers of something by a government official from a reputable government agency you still ask such stu.pid questions?! Now imagine if NAFDAC warns Nigerians about a particular product and tells them to desist from buying/consuming it, is it wise to ask NAFDAC is it their money? is it their own life at risk? imagine the nonsense! angry angry better heed the warning and stop fooling yourself.
There's no quick and easy way to make money #Word.
the same way government warn us about cigarette and still legalise the production.

5 Likes 1 Share

Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by Nobody: 11:06am On Nov 01, 2016
coollabman:



I have a feeling that government might do something about it. probably clamp down on the MMM system and ban it in Nigeria, the same way it was banned in China. Make we dey look, there's definitely some more to this second warning than meets the eye.
A report of what one Hausa woman is telling school children is what you call CBN warning? grin

4 Likes

Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by sweetenheskey(m): 11:08am On Nov 01, 2016
I know a man who retired from this soo called CBN and his into mmm infact he invest up to a million and has more Dan one account you can quote me if you need proof plz
Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by calcal: 11:08am On Nov 01, 2016
MMM was a Russia investment scam during 90s. Nigeria with copy cat, well done.
Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by Bmcc(m): 11:09am On Nov 01, 2016
Bankers that earn millions monthly did you ever ask where they get the money from. its your money you save every month and the pay you 3% PA. while they collect the remaining 7%. A friend deposited 1.5 million in fixed deposited for 3 months and he was given only 20k as profit. as for MMM hmmm guy u go hammer.

3 Likes

Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by Joehong(m): 11:09am On Nov 01, 2016
coollabman:



I can't believe someone will type this rubbish on a public forum! You mean that after being warned about the dangers of something by a government official from a reputable government agency you still ask such stu.pid questions?! Now imagine if NAFDAC warns Nigerians about a particular product and tells them to desist from buying/consuming it, is it wise to ask NAFDAC is it their money? is it their own life at risk? imagine the nonsense! angry angry better heed the warning and stop fooling yourself.
There's no quick and easy way to make money #Word.
GOOD TALK
Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by opribo(m): 11:09am On Nov 01, 2016
Oh no no, it is just too early for another NOSPECTO and co to happen, the money those ones trapped has not yet been recovered and some people have given up the ghost because of what those NOSPE and others did. Now I look at the MMM and their modus operandi, it is the same, is it that we have forgotten so soon or is the people that fell victims of the former scam not still alive to tell the story. MMM what business are they investing in, which bank are they using they using to warehouse their funds. I know serious banks like FirstBank,GTBank, UBA will never allow them to warehouse such funds with them it is only dying institutions like them that are desperate for funds that will go into such until they close them down and peoples money are gone. Scammers all over the place in this recession era.

Truth is CBN should not only warn but move fast to sanction such banks that allow wonder banks to use them to deceive innocent Nigerians. If MMM wants to go into the business of collecting deposits from Nigerians they should obtain banking license from CBN and not hide under a bank to deceive people. BTW I learnt the owners are Russian, people should try and research into this MMM of a thing please. This is not the first time. Why are the operators in Nigeria not coming up in television to defend their scheme why are they using proxies to go and make presentations. They should show their faces so that if anything goes wrong Nigerians can trace them to their villages for their money.

2 Likes

Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by Nobody: 11:09am On Nov 01, 2016
undecided
Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by vicdano87(m): 11:09am On Nov 01, 2016
if it Is scam and dont want the mass to invest into it..why dont the government close or ban it and make it illegal in the country...As for me i dont support it shall its a ponzi scheme...ita better you are hardworking and make cash than all these....


please check my handle if interested in being an investor
Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by FullDepth1: 11:11am On Nov 01, 2016
The government warns people about Smoking and how it will kill you, yet you keep smoking, and the Cigarette sellers keep making fantastic money... and guess what? THE GOVERNMENT HAS NOT CLAMPED OR CLOSED THEM DOWN even if you die of smoking!!

Allow these guys to enjoy their risks..

To be very honest, i have gone to their website, and indeed the Risks were BOLDLY written there.

These people (participants) know the risks, these people know it is called a scam. Let them be... Just like the Cigarette smokers



coollabman:



I can't believe someone will type this rubbish on a public forum! You mean that after being warned about the dangers of something by a government official from a reputable government agency you still ask such stu.pid questions?! Now imagine if NAFDAC warns Nigerians about a particular product and tells them to desist from buying/consuming it, is it wise to ask NAFDAC is it their money? is it their own life at risk? imagine the nonsense! angry angry better heed the warning and stop fooling yourself.
There's no quick and easy way to make money #Word.

4 Likes

Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by Mmadu111: 11:11am On Nov 01, 2016
[quote author=Tellemall post=50675635][/quote]Be dreaming
Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by BISIXCLUSIVE: 11:12am On Nov 01, 2016
NA because ppl dey withdraw der money from bank,use am do MMM

1 Like

Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by anthony533(m): 11:13am On Nov 01, 2016
Even Nigeria government is a scam. And the biggest scammer of all is the ruling party that promise we Nigerian during campaign that $1=1naira. The useless APC that promised 5k for unemployed youth. What has the government done to eradicate poverty? CBN should stop kicking against MMM bcus they have failed us. Our money our bizness.

3 Likes

Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by chigoizie7(m): 11:13am On Nov 01, 2016
U guys really don't know what this mmm is doing to some naija banks.

U might say that amount of people that are into mmm is not measurable with the number of people operating with naija banks, as such, their money is nothing compared to the bank deposits.

But they are still shortchanging banks.


U will have 1million in ur account, by month end, u will still have 1million, while banks did business with ur money, got profit, and will still charge u for unsolicited sms costs.


Ur money will be with mmm by month end, u will have 1.3million, the person that refered u will get 100k, u will get morethan 20k for opening account, u will do testimonial video, get 10% of what pledged. Now how much did u make with 1million in just a month?


Truth is, MMM will crash, but it is yet to be saturated. They announced 1million participants, truth is, only 200k persons operating multiple accounts.
Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by eempire: 11:15am On Nov 01, 2016
u these cynics criticizing.....mmm pays and its still paying.....for how to participate freely without fear of suspension and blockings..check my signature ; cool..mm rocks sha
Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by TomHagen: 11:15am On Nov 01, 2016
BRIGHTRIVERS:
I just dey pity the last person wey go join MMM
Hahahaha...
Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by berrystunn(m): 11:16am On Nov 01, 2016
Emycord:
I said it oh i warned my friend now let me go and rewarn him


Poor man stop warning people from making money everything is risk.

You are taking more risk if you are not part of mmm.

1 Like

Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by ewosk: 11:16am On Nov 01, 2016
opribo:
Oh no no, it is just too early for another NOSPECTO and co to happen, the money those ones trapped has not yet been recovered and some people have given up the ghost because of what those NOSPE and others did. Now I look at the MMM and their modus operandi, it is the same, is it that we have forgotten so soon or is the people that fell victims of the former scam not still alive to tell the story. MMM what business are they investing in, which bank are they using they using to warehouse their funds. I know serious banks like FirstBank,GTBank, UBA will never allow them to warehouse such funds with them it is only dying institutions like them that are desperate for funds that will go into such until they close them down and peoples money are gone. Scammers all over the place in this recession era.

Truth is CBN should not only warn but move fast to sanction such banks that allow wonder banks to use them to deceive innocent Nigerians. If MMM wants to go into the business of collecting deposits from Nigerians they should obtain banking license from CBN and not hide under a bank to deceive people. BTW I learnt the owners are Russian, people should try and research into this MMM of a thing please. This is not the first time. Why are the operators in Nigeria not coming up in television to defend their scheme why are they using proxies to go and make presentations. They should show their faces so that if anything goes wrong Nigerians can trace them to their villages for their money.

Unlike some of the scheme mentioned....MMM do not have a central account where you pay to... you pay directly to another participant and you are paid by others also...and honestly speaking your money do not stay up to 30 days away from your pocket...Is it risky yes...but it is worth it....-grin

1 Like

Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by Shittuakeem(m): 11:17am On Nov 01, 2016
May punish Federal govt, I turn us all to gambler per say, to me mmm is sure than CBN. Who CBN help? After they got juicy appointment in CBN. They don't ever want the gap btween the rich and poor to be bridged. Long live mmn

2 Likes

Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by lakesider(m): 11:17am On Nov 01, 2016
caracas:


How is making n receiving donations now a scam .
The concept of mmm is perfect very perfect .unless government decides to forcefully n illegally stop it the mmm buisness wud continue to thrive for many years to come ,cos the model is honest genuine n very open .
Mmm rocks.
thanks man .MMM work on people donating to people
if patience Jonathan can get 15million dollar donation .
u too can enjoy donation from MMM it.
Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by SamUtaji: 11:18am On Nov 01, 2016
Cbn shld think of reviving Nigeria economy and not to kill MMM

[url]TROPAGE.COM[/url]
Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by asifawarley(m): 11:18am On Nov 01, 2016
fiizznation:
Lately I Have been hearing about this MMM, but to be honest, I have no idea about what the thing stands for. Is it a betting game or what? I'm kind of curious though
click here to know more about MMM
Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by MinorityTribe1: 11:18am On Nov 01, 2016
Nigeria should stop for once and think. Since when have the government care for you so much that like this? Since when?! Why do they suddenly know they role in warning people about scams when it comes to MMM ?

2 Likes

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