Nigeria’s anti-graft agency, the Economic and Financial Crimes Commission, EFCC, has replied a Nigerian who accused the agency of “doing nothing” in the face of a possible crash of the wildly popular pyramid scheme, MMM.
Many Nigerians were thrown into panic in the morning of Tuesday, December 13, 2016, as the popular pyramid scheme, Mavrodi Mundial Moneybox, MMM, shared a confusing message on its website stating that it has frozen all confirmed Mavros, otherwise known as money due for withdrawal for one month.
A Twitter user with the name, The Reet Petite accused the agency of standing by and allowing Nigerians to fall victim to the pyramid scheme.
Where the hell was @officialEFCC ?? Isn’t it your job to stop crap like this??? https://t.co/2RUq9JeK2A
— The Reet Petite (@Lolami_Boo) December 13, 2016
The EFCC replied back, “You mean amongst the plethora of venality we fight daily? Ponzi schemes aren’t sustainable. There were a number of warnings.”
“If it looks or sounds too good to be true, it almost always is. Do NOT patronize wonder banks. Protect yourself,” the commission tweeted.
You mean amongst the plethora of venality we fight daily? Ponzi schemes aren’t sustainable. There were a number of warnings. #DontDoIt https://t.co/GeUhP4nrVT
— EFCC Nigeria (@officialEFCC) December 13, 2016
MMM issued a message to its subscribers announcing a “freeze” on their accounts and subsequntly tweeted.
If it looks or sounds too good to be true, it almost always is. Do NOT patronize wonder banks. Protect yourself. #DontDoIt
— EFCC Nigeria (@officialEFCC) December 13, 2016
SPECIAL INFORMATION:
Kindly note that for now you can change your phone number without the help of support. Follow steps below. #MMMPays pic.twitter.com/HBIKx2V9af
— MMM Nigeria Support (@MMMNigeriaHelp) December 11, 2016
The operators of the scheme said in a message sent to all subscribers that the measure was put in place because “in the New Year season the system is experiencing heavy workload.”
This means, all the accounts of members who are due to be paid after having ‘provided help’ (PH) to another person since the last month have been frozen and hence, have no access to request for payment, known as ‘Get Help’ (GH) until after one month.
All members woke up with the shock message displayed on the screen as soon as they logged into their accounts. Giving reasons for freezing the Mavros, the scheme said it is experiencing heavy workload and want to deal with the attacks coming from the country’s mass media.
It also said it wants to prevent hitches in the coming new year hence, the freezing of the access to requesting for payments even when such person is due for payment. mmm freezing notice mmm freezing notice The message read thus.
One-Month Freezing of Confirmed Mavros
Dear members!
As usual, in the New Year season the System is experiencing heavy workload.
Moreover, it has to deal with the constant frenzy provoked by the authorities in the mass media.
The things are still going well; the participants feel calm; everyone gets paid – as you can see, there haven’t been any payment delays or other problems yet – but!.. it is better to avoid taking risk.:-)) (Moreover, there are almost three weeks left to the New Year.)
Hence, on the basis of the above mentioned, from now on all confirmed Mavro will be frozen for a month.
The reason for this measure is evident. We need to prevent any problems during the New Year season, and then, when everything calms down, this measure will be cancelled. (Which we will definitely do.)
We hope for your understanding, Administration
