NYSC member invests sister’s wedding money in MMM
See NYSC member invests sister’s wedding money in MMM
– The freezing of MMM Nigeria accounts till January 2017 came with a price
– Many Nigerians lost their ”investments”
– Others failed to heed the advice to use their spare money
A report by New Telegraph has detailed how a member of the National Youth Service Corps (NYSC) fell victim to the recent freezing of accounts by MMM Nigeria.
The MMM craze in Nigeria is yet to die down
The corps member is said to be working with one of the national newspapers where he was posted for his primary assignment.
According to the report, the unidentified corps member was recently caught in the organisation’s restroom weeping.
He said he had hoped that he would have reaped the 30 per cent interest on the money without his sister’s knowledge, but with the suspension of the scheme, the money was trapped and he did not know what to tell his parents.
Meanwhile, indications have emerged that many bank workers may lose their jobs over the recent crash of MMM.
Generalbaze.com gathered that some banks are seriously considering sacking their workers who were found guilty of introducing customers to the Ponzi scheme.
Similarly, a recent media report has detailed how the promoters of MMM exploited weak Nigerian laws to continue the act in the country despite repeated warnings from authorities.
The promoters continued the scheme because there was no centralised account for authorities to track the monies and know the entire amount involved.
In a related development, a popular Nigerian musician known as MC Galaxy has revealed that he lost N25 million in the recent freezing of MMM.
The musician further accused his manager of pushing him to participate in the scheme