5 results
- 3 Mar 2017
3 Million Nigerians Lost N18Bn to MMM – NDIC
The Nigerian Deposit Insurance Corporation (NDIC) has said about three million Nigerians lost N18 billion in the Phonzi scheme, popularly called Mavrodi Mundial Movement (MMM). Alhaji Umaru Ibrahim,…
- 29 Nov 2016
Recession: Nigerians Besiege MMM Website
Inspite warnings by the Central Bank of Nigeria (CBN), Mavrodi Mundial Movement (MMM) scheme has won several hearts across Nigerians, no thanks to the recession. МММ was a Russian company that…
- 13 Jul 2017
Nigerians Lost N11.9Bn to Ponzi Scheme – CBN
Central Bank of Nigeria (CBN) said that Nigerians lost N11.9 billion to the Ponzi scheme, popularly called Mavrodi Mundial Movement (MMM) in 2016. This is despite repeated warnings by the Central…
- 10 May 2017
Why Ponzi Schemes Thrive Despite Risks
Largely unheralded for a long time, Ponzi schemes came to the consciousness of the entire nation in 2016. With the descent of the Nigerian economy into its first full depression in over two decades,…
- 16 Feb 2022
SEC Enlists other Agencies to Curb Ponzi Schemes
Securities and Exchange Commission (SEC) is working in collaboration with other agencies to clean up the Nigerian capital market of Ponzi schemes. Mr Lamido Yugudu, director-general of SEC, expressed…