As the fate of investors in the money doubling scheme, MMM hangs in the balance, students of the Federal Polytechnic, Bida in Niger state have lost their school fees in the Ponzi scheme.
The deadline for fees payment in the institution ended yesterday, but many students who invested in MMM are unable to meet up.
The students had expected to be paid when the scheme resumed operation last January 14 after about one month break.
But, over a week after the Ponzi scheme announced its return and unfreezing of mavros, participants cannot get help (GH) as promised.
Students who put their school fees in MMM in anticipation of higher profit have lost all hope of recovering their money in due time.
Dupe Olurunfemi, a student, was hospitalised in the school clinic when she heard school fees payment deadline. She said she used N70,000 meant for fees and accommodation for MMM and has been unable to recover the money.
“I joined the platform on November 9, 2016 with N70,000 which I had been saving for months to pay my fees this session. I woke up on December 12, 2016 to get help (GH) only to find out that the GH had been frozen. I had hoped that on January 14, 2017, I will be paid but I am yet to get my money back,” she said.
Samson Endurance, an ND II Public Administration student, was evicted from his off-campus hostel accommodation at night by the landlord because he owed rent. He said he invested his in rent for MMM.
Dupe and Samson are not the only victims of MMM on campus. Many others are lamenting their fate.
Failure to pay fees by the deadline means the students would have to pay the late registration penalty fee.
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