Despite the recent warning by the Central Bank of Nigeria (CBN) that Nigerians should stop patronizing the MMM scheme which connote Mavrodi Mondial Moneybox a Ponzi scheme with promise of 30 percent return of investment after 30 days.
The scheme is gaining more popularity in Nigeria more and more.
There was a rumours of it crashing in Zimbabwe few months ago which supposed to discourage Nigerians from participating in it but our people can’t stop doing what will pay them cool and easy money that the scheme is offering, coupled with the harsh economy on the masses, hike in price of commodities, loss of jobs which made the economy to become hard more than ever before.
MMM Nigeria is blossoming, so there is no criticism or anything negative anyone can say to discourage the people from participating in a scheme that is helping them to make money without sweat like this.
Here are some of the reasons why Nigerians will never give up on MMM until it finally crashes:
- MMM pays
People are getting their extra 30 per cent of the money in a month without stress, for many Nigerians, the scheme is just a source of blessing to their life’s and family. There is no financial institution in the country that is offering this kind of good offer that MMM gives to their patronage even if you have a million naira in your savings bank account, you can’t get 10% of what the scheme is paying. Many are using the MMM money to pay school fees, take care of their family, and settle their bills and so there is nothing you can say to discourage them to stop.
- Economic situation
As said earlier to some people, MMM is like a source of blessing to their life’s and families because it came into Nigeria at a time when the economic situation in the country is rapidly going from bad to worse. Fuel price is N145 per litre since May; the minimum wage has not been increased. With the harsh economy on the masses, hike in price of commodities, loss of jobs which made the economy to become worse more than ever before. Despite criticisms, until the entire scheme crashes, Nigerians will not give up on anything that has the potential to provide an extra source of income.
- Life is a risk
Risk is inevitable in life, anyone who is not ready to take risk can never move forward because life itself is full of risk. The opportunity you have today may not be available tomorrow, even there is risk in every business, and there is no business in life that profit is always guarantee. So, for everyone who is making money from MMM, it is about taking risk which they know.
- Influence of the people
Many people around you such as, friends, colleagues, and family are joining MMM, the truth is that they will collect the money and show it to you, and the reality of the scheme cannot be denied and you will not like to miss out of the sweat less income coming from there, so you will have no choice than to join and influence others to join.
Ponzi schemes play and profit on peoples greed. Many people are only interested in getting money even without working, so MMM has set a platform for such people to satisfy their desire. Such people will keep on increasing their fund in the scheme in order to get more money, and there is nothing you can say to criticize or to condemn MMM that they will listen to, as a matter of fact, they are ready to put their entire income into it even though it is been advised that people should only use their spare money.
- The articles that criticize MMM
The views of the people about the article that criticize MMM and warn against it are assumed to be a mere way of discouraging people from investing to it. People feel the government and those criticizing the scheme are trying to prevent them out of jealousy for the easy means of making money. According to a member of MMM, the Central Bank of Nigeria (CBN) warned people against the scheme because the government of Nigeria has always been antagonist to any scheme that will make the poor become rich.
- Unemployment rate
The scheme came at the time when the rate of unemployment is getting high. In this year alone, over 1.5 million of Nigerian has lost their jobs, and those who have no job still have responsibility to take care of themselves and family, therefore there is no option for such individuals than to consider the scheme that will fetch him income. MMM will continue to thrive in Nigeria as long as it keeps paying people.
Nigerians don’t give up easily
From the historical antecedent of the Ponzi scheme, it has never ended well. People will keep investing and it will keep growing until it gets to a stage where it will crash. What usually happens to schemes like this, is that “some people will gain while some will loss” at the end of the day, the early participant will earn and the latter subscriber will loss. MMM is paying now, hope it will last long?