The House of Representatives on Wednesday, November 9 ordered the Economic and Financial Crimes Commission (EFCC) and the Central Bank of Nigeria (CBN) to immediately go after the promoters of the Mavrodi Mondial Moneybox, otherwise known as ‘MMM’ in Nigeria just as it ordered its committee on Banking, Currency, and Financial Crimes to also investigate the activities of the Ponzi scheme in Nigeria.
According to the Speaker of the House of Representatives, Yakubu Dogara, the house called for the investigation following growing concerns that it is a scam. They worry that Nigerians may lose their investments like other participants of the scheme in Russia that have previously lost their investments.
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