AGAIN, CBN ISSUES URGENT WARNING TO NIGERIANS ABOUT MMM

The Central Bank of Nigeria (CBN) has reiterated its warning to Nigerians against the use of MMM Nigeria, a Ponzi scheme company.

Speaking during a mentoring program for students of Government Secondary School, Suleja, the head of the consumer protection department of the CBN, Kadija Kassim said the activities of the scheme is not regulated by any institution hence it is fraudulent and is not supported by any business model.

Kassim referring to the scheme as ‘wonder bank’ cautioned Nigerians on patronizing activities of the MMM scheme which stands for Mavrodi Mondial Moneybox.

We have heard about the activities of MMM, but I want to warn you against it because they are wonder banks that are not regulated. Desist from their activities because they are fraudulent.

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