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'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" - Business (8) - Nairaland

Nairaland Forum / Nairaland / General / Business / 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" (77332 Views)

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Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by adefizzy(m): 12:39pm On Nov 01, 2016
When men are making money, cbn is talking rubbish.
Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by PMIcon(m): 12:40pm On Nov 01, 2016
Where did u get your info about the countries you mentioned.
Mayflowa:


Forget it. It gonna crash this year. Given free hand MMM can last up to 5 - 10 years. But no country government can allow this to thrive in her country where there is a banking system. Would you rather crash a guaranteed banking processes to favour MMM which circulate money without any product attached to it and which will of course fail eventually?

So the right thing government does is to close down the system in its earliest stage. Russia, America, brazil, China and most recently South Africa have had to close them MMM calling it a ponzi scheme. MMM has never crashe'd on their own!

So be sure, CBN is going to block MMM Web Access soon from naija Internet space. Be warned

Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by don4real18(m): 12:42pm 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!



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!
My referee registered since 2013.... so don't say what you don't know..... and yes, it's MMM Nigeria
Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by joseph1832ng: 12:43pm On Nov 01, 2016
calliope:
CBN don't sweat it, they won't listen! Everybody want to make quick money.. And belong hence the indulgence.

E go shock all of una grin

Enjoy oo while it last.
I didn't even listen when I was approached.

If I want quick money, heck, yahoo yahoo ain't that hard to learn, is it? grin
Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by jimi4us: 12:44pm On Nov 01, 2016
No be the same MMM wey juventus use Man U do for pogba head?

4 Likes

Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by Dereformer(m): 12:45pm On Nov 01, 2016
Opynion:
I just love the scam. MMM please keep scamming me and let my bank account continue to grow, grow, and grow.








i just love this scam called MMMM. ...... let me tell you why:


my employer is yet to pay me for the month of October but with my MMM money i have settle all my bill for october and still have some left to flex with. IF they like make them keep the money till next month self.



so you see! i love this wonder bank call MMM


You will soon weep.
Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by PMIcon(m): 12:45pm On Nov 01, 2016
opribo:


So you want to tell me you are comfortable dealing with a company with no known registered address in Nigeria, no board of directors or owners, no known bankers in Nigeria, is that it. Anyway my people say the dog that wants to get lost no matter what you like call him he will never listen. I wish you happy enjoyment of your free cash flow.
It's not new. We call them informal and unbanked sector. People have more money exchanging hands than CBN and CAC have in records.
Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by phemmyflexxy(m): 12:48pm On Nov 01, 2016
Use only your spare money.
understand the risk.
You are providing help, which might turnout to be an investment for you.
We all help pple in our little ways, and nobody gives help wt all their savings neither are they expecting returns.
so what is the fuss about pple helping pple....
I just registered, and pledge some of my spare money. I am not expecting returns but won't mind.....winks.
God bless MMM
together we can change the World, financial freedom for everyone.

2 Likes

Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by Culin(f): 12:51pm 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
jeez!!
Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by PMIcon(m): 1:00pm On Nov 01, 2016
opribo:


So you want to tell me you are comfortable dealing with a company with no known registered address in Nigeria, no board of directors or owners, no known bankers in Nigeria, is that it. Anyway my people say the dog that wants to get lost no matter what you like call him he will never listen. I wish you happy enjoyment of your free cash flow.
MMM is doesn't need board of directors or bankers. Members offer to help and MMM links them up with members who request help. They pay directly into the later member(s) account.
Even when you say you want to give money, you will have to wait till someone or enough people can be paired to receive that money. I mean, the system is not even in a hurry to pair you with someone you can give money to. And you pay into that person's bank account. If you like you can open a bank account just for it.
So I don't know why people are scared.
BY THE WAY. IT IS NOT AN INVESTMENT. HELP AND RECEIVE HELP. IF YOU ARE NOT FOR HELPING OTHERS, DON'T PROMISE TO HELP AND SO DON'T JOIN. SIMPLE.

1 Like

Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by PMIcon(m): 1:02pm On Nov 01, 2016
phemmyflexxy:
Use only your spare money.
understand the risk.
You are providing help, which might turnout to be an investment for you.
We all help pple in our little ways, and nobody gives help wt all their savings neither are they expecting returns.
so what is the fuss about pple helping pple....
I just registered, and pledge some of my spare money. I am not expecting returns but won't mind.....winks.
God bless MMM
together we can change the World, financial freedom for everyone.

That's the spirit.

1 Like

Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by Nobody: 1:04pm On Nov 01, 2016
PMIcon:

MMM IS NOT AN INVESTMENT PLATFORM. GIVE AND IT SHALL BE GIVEN TO YOU... THAT'S THE PRINCIPLE IT WORKS BY. ANYONE WHO DECIDES TO MAKE MMM AN INVESTMENT DESPITE WARNINGS ON THE PLATFORM HAS HIMSELF/HERSELF TO BLAME.
If not an investment, where does the 30% belong? Where does it come from?
Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by Kenneth10110(m): 1:05pm On Nov 01, 2016
henrydadon:
cheesy

them no go hear..Nigerian too like awuff..

[img]http://i./HZ1H3Pk30O0ec.gif[/img]

i know it will eventually crash..it is bound to happen

it a ponzi scheme they wait till they have enough money and lot of customer
under them till befor they vanish . it recently happen in south africa and kenya..enjoy it while it last tho.

it all just a big elaborate fraud
[img]http://i./hgjNPEmAmpCMM.gif[/img]



same thing in Russia there excuse was that they couldn't continue in funding the scheme. That's how they scam them there. But i pray naija case won't be like such.
Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by olaxm: 1:08pm On Nov 01, 2016
20 Amazing Facts About The Computer by ORIJIN201(m): 10:39pm On Oct 31
1. The first electronic computer ENIAC weighed more than 27 tons and took up 1800 square feet.
2. Only about 10% of the world’s currency is physical money, the rest only exists on computers.

I'd wanted to read through people comments only before but your post made me to comment along. Now i can see clearly the picture about MMM 30%. The earlier post about amazing fact of computer and number 2 of it buttress your analysis but some fool may might it hard to digest. I copy it here and it can be read over from the nairaland post. You know Nigerian like Miracle(seeing is believing) and people who refuse to join MMM now will eventually do. Let those who are to it now grow and grow and some people would need to see those people doing things they have not being able financially before they can believe in MMM.
Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by Mayflowa(m): 1:09pm On Nov 01, 2016
PMIcon:
Where did u get your info about the countries you mentioned.

MMM was developed by by two brothers Sergey Mavrodi and Vyacheslav Mavrodi plus their friend, Olga Melnikova all from Russia. MMM is taken from their last name. They were really influencial among the people to the extend that one of the brother wanted to contest for the seat of the Russia President. Trust that the masses will always be swayed by such scheme.

But the problem with it is that, no economy grows from circulating money. U need to buy values. It is an assault on banking systems of any nation. Moreso, it is built to fail at a point. When is was closed down after 4 years of operation in Russia, the masses rioted against the govt . Up to about $10 billion was lost by the people. The founder insisted that government was responsible for their loss.

Too much story grin. Oya go read Wikipedia on MMM.

1 Like 1 Share

Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by mradonis(m): 1:16pm On Nov 01, 2016
Experience they say is the best teacher. Ask those who Wonder Bank dealt wit dem back in 2008. Be4 u join. If a house falls, and miSses people it surely won't miss the ground. There must be scape Goats and pray its not U. And 4 those dat insist pls go ahead, but wen d gbege happens Cry alone and don't bring urself to nairaland oo.
Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by Emmysteve(m): 1:17pm On Nov 01, 2016
NEVER YOU TRUST THIS Government. Mind you, most of them are into it but preventing others from joining. Government don't like u.
Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by jozee8: 1:17pm On Nov 01, 2016
Korrection:
I dont know why my mind is telling me that this MMM is a pyramid scheme....scam...I have been cajoled by friends severally to invest but my inner spirit is saying dont do it...I think i will have to stick to my mind and face my car and poultry business...
You already have a car and poultry business? please just stick with it, reject that spirit of greed, and I see you doing great things.
Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by Basalt(m): 1:18pm On Nov 01, 2016
opribo:


A wise man uses the mistake of others to learn but a foolish man uses himself. Go and ask about Nospecto, Wealth Solutions, Silverlink and many others. Dont worry it is sharking you now, it is always like that soon you will be begging EFCC to come and help 'shebi' it is only 1000k you have put in that one is not much now so cool down.

1000k is one million Olodo, and that is much .
Let me educate you small
Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by PMIcon(m): 1:18pm On Nov 01, 2016
MMM is not even a bank; how can it be wonder bank. Why do our public officials scare people with their ignorance.
Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by PMIcon(m): 1:21pm On Nov 01, 2016
jozee8:

You already have a car and poultry business? please just stick with it, reject that spirit of greed, and I see you doing great things.
So it is greed to receive a reward for kindness. Don't go to heaven then because you will get more than 100% reward for being kind too.

1 Like

Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by jaywhoco(m): 1:24pm On Nov 01, 2016
It is a ponzi scheme! But like Homer said 'you cannot keep a fool from his folly'...
Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by bikerboy1(m): 1:25pm On Nov 01, 2016
ibrodex:
The rate at which CBN warn the public about this scheme.
Don't be surprise if the site is shut down in Nigeria.

Definitely, there would be a mass protest. grin grin grin grin

A lot of Nigerians are into it. Over a Million grin grin
Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by Plus234(m): 1:25pm On Nov 01, 2016
Opynion:
I just love the scam. MMM please keep scamming me and let my bank account continue to grow, grow, and grow.








i just love this scam called MMMM. ...... let me tell you why:


my employer is yet to pay me for the month of October but with my MMM money i have settle all my bill for october and still have some left to flex with. IF they like make them keep the money till next month self.



so you see! i love this wonder bank call MMM

how does it work, can you explain better becos am interested too
Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by omrex: 1:27pm On Nov 01, 2016
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Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by kenny1313(m): 1:28pm On Nov 01, 2016
unclezuma:


I don't blame this generation...they are lost.

Pikin go prefer MMM to hustling getting something meaningful done with his or her life
Who meaningful thing Don esp? My primary school teacher still dey teach with even Okada to his credit. Mmmpays.
Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by PMIcon(m): 1:28pm On Nov 01, 2016
Mayflowa:


MMM was developed by by two brothers Sergey Mavrodi and Vyacheslav Mavrodi plus their friend, Olga Melnikova all from Russia. MMM is taken from their last name. They were really influencial among the people to the extend that one of the brother wanted to contest for the seat of the Russia President. Trust that the masses will always be swayed by such scheme.

But the problem with it is that, no economy grows from circulating money. U need to buy values. It is an assault on banking systems of any nation. Moreso, it is built to fail at a point. When is was closed down after 4 years of operation in Russia, the masses rioted against the govt . Up to about $10 billion was lost by the people. The founder insisted that government was responsible for their loss.

Too much story grin. Oya go read Wikipedia on MMM.

I did not ask for d history of mmm. My question was specific.
We know the history of Mandela too.
Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by fran6co(m): 1:29pm On Nov 01, 2016
slimany:
All the unemployed graduates wen APC promise 5k every month.
I just hear sa una money don reach 17months.
N5,000x17=85,000.
Just be patient, Buhari is borrowing $30billion to pay una arrears.
.

my brother no way o Senate rejects Buhari’s $29.96bn
loan request
Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by jaywhoco(m): 1:29pm On Nov 01, 2016
Korrection:
I dont know why my mind is telling me that this MMM is a pyramid scheme....scam...I have been cajoled by friends severally to invest but my inner spirit is saying dont do it...I think i will have to stick to my mind and face my car and poultry business...
no good, profitable or sustainable business pays 30% return in 3 months. There is no model anywhere. It is a ponzi scheme.
Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by Nobody: 1:30pm On Nov 01, 2016
kenny1313:

Who meaningful thing Don esp? My primary school teacher still dey teach with even Okada to his credit. Mmmpays.

Dear Kenny,
the statement was my personally held opinion about MMM.
Best regards,
Your Favourite Uncle,
J. Zuma.
Re: 'MMM Is A Fraudulent Scheme' - CBN Warns Nigerians, Calls It "Wonder Bank" by fame12k(m): 1:30pm On Nov 01, 2016
Talk to a guider/MMM Nigeria Manager at 08054790500.... let them keep deceiving themselves...

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