liable fiscal and government organizations appear incapacitated via the mode of operation of the standard Ponzi Scheme referred to as MMM.
MMM, a former Russian manufacturer that perpetrated one of the crucial biggest scams in the ninety’s has resurrected in Nigeria, and is making rather a wave.
Thousands of Nigerians have invested in the ponzi scheme, and despite warnings from the vital financial institution of Nigeria and a hazard from the EFCC to desist from it, many people are nonetheless placing their cash into the scheme, which would crash any second from now.
Here are 6 explanations why CBN or EFCC can’t do anything about shutting down MMM operations in Nigeria on the moment:
(1) there is no regulation towards it.
(2) nobody has complained of losing cash. There hasn’t been a gigantic quantity of criticism from the general public about shedding cash to the scheme.
(3) law enforcement marketers also spend money on it. It is alleged that policemen and EFCC officials have shares in the scheme. This makes them less curbing its activities in the nation.
(four) FG is busy. The EFCC and CBN have extra urgent concerns to care for. Their fingers are already full with the anti corruption struggle so combating MMM just isn't on their precedence list.
(5) MMM is faceless. There is not any registered workplace or financial institution account attributed to MMM, making it rough to be certain by way of the federal govt.
(6) The Presidency is silent about it
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