Nigerians Weep As MMM Officially Restarts

The most popular ponzi scheme in Nigeria, MMM, on Saturday 4th November 2017, announced a 'Restart' of the system. The

announcement has not only caused mixed reaction but has left tears in the eyes of many Nigerians because their money is been trapped in the scheme.

MMM came into Nigeria in 2015, by 2016, it gained grounds and became the largest ponzi scheme in Nigeria. MMM turned the minds of many Nigerians away from banks as they all invested their hard-earned money in the promising scheme.

MMM promised its participants a 30 percent increase on any amount invested within 30days interval. The huge bonus made many Nigerians to embrace it without giving it a second thought. Although, recession was another reason while many Nigerians welcomed it.

In 2016, the federal government of Nigeria through the central Bank(CBN) of Nigeria, the securities and the exchange commission(SEC) warned Nigerians against investing their money in the scheme but the 30 percent bonus made many Nigerians to deafen their ears to the warnings of the fedral government.

In September 2016, the National Assembly took a bold step to stamp out MMM in Nigeria by ordering  the police to arrest its participants and guilders. Some  guilders were arrested in lagos state but were all released in couple of days after been detained by the police.

In December 2016, the scheme went on 'pause mode', freezing the funds of its participants and promised to resume payment on the 15th of January 2017.

MMM resumed as promised but added new rules: participants were asked to invest before they can be paid their 2016 money. Participants embraced the new rule with the hope of getting their 2016 money.

MMM and its new rule did not stand a test of time as they struggled to pay participants who made another donations. In July 2017, the inglorious ponzi scheme went on another 'pause mode', keeping participants whose money were due for withdrawal onhold.

In August, the embargo was lifted with a 100 percent bonus implementation on all investment which has lasted for 30days. However, despite the new rule and the promising 100 percent bonus, MMM was unable to fulfill its promise and Nigerians who has invested heavily in the scheme had themselves to blame.

Finally, on Saturday 4th November 2017, MMM announced that the system will 'Restart'. The messages was published on their official site.

The message reads:

Unfortunately, we were unable to overcome the consequences of the crisis triggered by the authorities and mass media incautious actions at the beginning of this year. Despite all our efforts. The problems have been accumulating and, as a result, we have to announce a restart.

All old Mavros (acquired before this announcement is posted) are frozen. We will gradually buy them back as the System develops.

All transactions with new Mavros (acquired after this announcement is posted) will be carried out on the usual terms with no restrictions.

Some amendments have been made to the rules:

Mavros will now start growing at the moment the request is confirmed (not at the moment it is created, as it was previously).
Consequently, bonuses will start growing at the moment when the main contribution is confirmed (upon which bonuses have been rewarded on).
Mavro-50% for the first contribution will not be available.
We launch three-month contributions of two types: 40% and 50% (see more details in WHAT IS MMM).
We’re confident that this measure (especially paragraphs 1 and 2) will significantly reduce the load on the System while also significantly improving its stability.

As a matter of fact, a restart is not the end of the world, it’s just a restart of the System and nothing more. Continue to provide help and you’ll get it all back (even if you’ve lost something now). It all starts from the beginning. It’s the most opportune time for participating.

We would also like to remind you (just for form’s sake) that everyone had been fully aware of all the risks and had read the WARNING which they had also confirmed by checking the relevant box in the process of registration.

Hoping for your understanding,
MMM Administration