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CBN Warns Nigerians Again To Stop Investing In MMM
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The Central Bank of Nigeria (CBN) has once
again cautioned Nigerians against investing in
the ponzi scheme, Mavrodi Mundial Moneybox
(MMM), The Nation reports.
CBN Director of Development Finance Dr.
Mudashiru Olaitan gave the warning at a
business leaders’ conference with the theme:
“Prospering in a recession”, organised by EZ37
Solutions in Ibadan.
According to him, Nigerians have to be careful in
investing their resources, especially at this period
of economic recession.
Olaitan urged Nigerians to embrace agriculture
instead of MMM, even as he noted that the
nation is blessed with many resources and
businesses that could bring returns at minimal
risks.
Olaitan, who was represented by the Head of
CBN Development Office in Ibadan, Banji Akinola,
said that MMM has become a national
embarrassment with the scheme’s operators
insulting the Nigerian government just because it
cautioned the people over the scheme.
“It is an embarrassment to the nation. The CBN
had earlier warned them against investing their
money into it. It is sad,” he said.
Recall that MMM operators froze the accounts of
its investors in Nigeria few days ago.
This came a day after MMM founder Sergey
Mavrodi reportedly wrote an open letter to the
Nigerian government claiming that the scheme
would never fail.
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