Despite Security Exchange Commission and Central Bank of Nigeria’s warning that Nigerians should steer clear of the Mavrodi Mundial Movement (MMM) scheme, the number of subscribers has continued to climb and the scheme has become the current number one investment for many Nigerians in recent times.
The scheme pays over 30 percent on investment to subscribers in one month while giving them numerous bonuses for bringing in new investments. This of course looks like the ‘wonder banks’ of the 90s that crashed with billions of Naira belonging to investors disappearing with them.