Users of the MMM Nigeria ponzi scheme received an unwanted early Christmas present on Monday as the company announced a one-month shutdown.
In a letter sent to fans and written on their website, the company wrote:
”As usual, in the New Year season the System is experiencing heavy workload. Moreover, it has to deal with the constant frenzy provoked by the authorities in the mass media. The things are still going well; the participants feel calm; everyone gets paid – as you can see, there haven’t been any payment delays or other problems yet – but!.. it is better to avoid taking risk.:-)) (Moreover, there are almost three weeks left to the New Year.)
”Hence, on the basis of the above mentioned, from now on all confirmed Mavro will be frozen for a month. The reason for this measure is evident. We need to prevent any problems during the New Year season, and then, when everything calms down, this measure will be cancelled. (Which we will definitely do.:-))
”We hope for your understanding,
The Nigerian government had constantly warned Nigerians to stay away from the ponzi scheme. The Economic and Financial Crimes Commission, EFCC, had also promised to arrest those managing it.
With many of the users already planning to use the returns for their holiday celebrations, many took to to social media to lament on the issue.
Using South Africa as a case study, their site crashed and all accounts frozen; marked end of the road. Might be the end of MMM Nigeria too
— Wale Adetona (@iSlimfit) December 13, 2016
The funny thing is that MMM Nigeria has no physical address or Head Office.
— IG: Ebuka_Akara (@ebuka_akara) December 13, 2016
MMM has always advised that you use your #SpareMoney.
— MMM Nigeria Support (@MMMNigeriaHelp) December 12, 2016
When all ur life hopes is hingeing on ur MMM investment and they are telling u what u dont understand at their head office. pic.twitter.com/GUSIZLcEVN
— Ferdinand (@Burmese_Tyga) December 13, 2016
Google MMM and literally the first thing that comes up is “Ponzi scheme”, but no, Nigerians swear they have more sense than everyone else.
— ‘Ché (@TheBlackHermit) December 13, 2016