Friday, 18 November 2016

We Have Faith in MMM Than President Muhammadu Buhari's Vision For Nigeria – MMM Participants

As said by Mr. Aye Dee an MMM participant’s on twitter, “To put things in perspective about Muhammadu Buhari's vision for Nigeria, m... thumbnail 1 summary
As said by Mr. Aye Dee an MMM participant’s on twitter,
“To put things in perspective about Muhammadu Buhari's vision for Nigeria, more folks have faith in MMM than in him or his administration”.
 
We Have Faith in MMM Than President Muhammadu Buhari's Vision For Nigeria
We Have Faith in MMM Than President Muhammadu Buhari's Vision For Nigeria
The Nigerian economy which was once regarded as one of the world’s fastest growing economy in recent years been has been degraded in recession with basically no hope of evading, with inflation taking a large share of the price of products in the Country. Lots of businesses have been shot down and investors taking to their heels, making life extremely difficult for the people.


At a time like this, when many Nigerian’s are searching for means of livelihood, came Mavrodi Mondial Moneybox, popularly known as MMM.

MMM according to the Nigerian website, is a mutual aid platform that allows it’s participants to help one another at a 30% monthly returns rate, a rate that beats any bank in Nigeria. Since the commencement of MMM in Nigeria one year ago, it has proven to be promising and over 2 million Nigerians have become a registered member the Federal government has kicked against it, tagging it a scam.


Meanwhile, many Nigerians have argued that the federal government has disapproved of MMM simply because it has cost local banks of customers in the sense that nobody goes to the banks for loans anymore and that many top government officials, also participate in the MMM scheme.

There has also been rumor circulating that the Central Bank of Nigeria (CBN) has finally approved the operation of the Mavrodi Mondial Movement (MMM) in Nigeria,

Some MMM operators purported that
 “A top official at the Ministry of Finance said even the federal government has invested the sum of N100b in MMM so that the interest of N30b can be reinvested in capital projects across the nation.”


A report which the  Central Bank of Nigeria (CBN) through the Acting Director, CBN Corporate Communications, Isaac Okorafor has openly denied.


Notwithstanding the CBN and Federal government warnings, MMM has continued to strive with hundreds of newly registered members on a daily basis. MMM has it is widely known, has become a new safe haven for many Nigerians.

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