6 Reasons Why CBN, EFCC Can’t Shutdown MMM Nigeria For Now

MMM, a former Russian company that perpetrated one of the biggest scams in the 90’s has resurrected in Nigeria, and is making quite a wave.

Thousands of Nigerians have invested in the ponzi scheme, and despite warnings from the Central Bank of Nigeria and a threat from the EFCC to desist from it, many people are still putting their money into the scheme, which could crash any moment from now.

Here are 6 reasons why CBN or EFCC can’t do anything about shutting down MMM operations in Nigeria at the moment:

  • There is no law against it
  • No one has complained of losing money. There hasn’t been a significant amount of complaint from the public about losing money to the scheme.
  • Law enforcement agents also invest in it. It is alleged that policemen and EFCC officials have shares in the scheme. This makes them less enthusiastic about curbing its activities in the country.
  • FG is busy. The EFCC and CBN have more pressing matters to deal with. Their hands are already full with the anti-corruption war so fighting MMM is not on their priority list.
  • MMM is faceless. There is no registered office or bank account attributed to MMM, making it hard to be targeted by the federal government.
  • The Presidency is silent about it.

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  • Kenny D Osonwa

    That’s for those into it.

  • Mezzy Gilbert

    Ds mmm, hmmm

  • Cornel Nwankwo

    MMM and their wahala
    Good for them

  • chika bibian

    The presidency is silence about it… Hmmm interesting…maybe them follow invest *just saying*

  • Ok..seen

  • Olovo Obinna

    Ok…that’s comforting enough for those into it

  • emekachilaka

    ok oo

  • Mohammad Isah

    Me no know wetin ds mmm dey do for pple, but I hear it’s good

  • WillieBravo