The money doubling ponzi scheme in Nigeria, MMM, has reportedly frozen the accounts of its members ahead of the Christmas and New Year festivities.
A message sent to every participant of the scheme had indicated that the accounts were frozen just to prevent irregularities during the festive season.
By implication, over three million Nigerian participants as claimed by the founder, Mavrodi, who were planning to withdraw their money ahead of the yuletide season will have to wait for one month.
Recall that similar scenario had played out in Zimbabwe and South Africa, where participants money were frozen for certain period, pausing the system, only to return with new adjustment in its terms.
Nigerians have however, taken to the social media o express their frustrations over the uncertainty surrounding the freezing of their accounts with the money doubling scheme.
While some believe their accounts will never be retrieved, several others were of the opinion that investing in a ponzi scheme is never the best way to go about things.
See some of their comments below:
People blindly jumped into a ponzi scheme without regard for anything
— Ty ₦aira Sign (@mebewale) December 13, 2016
If MMM Nigeria gets restored by January, very good for my ponzi friends. My problem is the effect when it’d finally crash..
— C H I J I O K E (@MrCeejaiy) December 13, 2016
I guess people invested into MMM than i thought, why would anyone collect loan to invest in a ponzi scheme. You have yourself to blame
— Vanilla Garri (@Lekzikon) December 13, 2016
Ponzi schemes never survive for long. The recession must really have blinded us. God help us all
— I of the Storm ? (@naijaliverpool) December 13, 2016
No matter how much benefits you can and will get out of anything called a Ponzi Scheme…Get prepared for the Mud when you pray for Rain..
— ElysiumCross (@Kenpapas) December 13, 2016
Stop using the bad Nigerian economy as an excuse to invest in Ponzi Scheme. You are lazy to think u can get rich by money doubling
— IG:AURA♥ COOL (@TWEETORACLE) December 13, 2016
Nigerians ! Get wiser ! Say no to Ponzi Schemes. Keep your money safe and your health safe. Invest wisely… MMM is fraud !!! now they know
— IG:AURA♥ COOL (@TWEETORACLE) December 13, 2016
I still don’t know why any thoughtful Nigerian would invest in such a glaring ponzi scheme as MMM. Well… It was meant to crash sooner..
— IG:AURA♥ COOL (@TWEETORACLE) December 13, 2016
Worst part is folks are running multiple ponzi schemes on the side. Have you no love for your blood pressure?
— Mikhail (@OtherBukowski) December 13, 2016
So it’s frozen and that’s it. Ponzi schemes don’t recover from temporary freezes because of the ripple effect on prospective victims.
— Nwa Ka Ibe Ya (@Dikachim) December 13, 2016
Lmao you don’t know what a ponzi scheme is right? https://t.co/5dJaYt84v2
— TJA™ (@JaimeAk_) December 13, 2016
If the widespread reaction was “sympathy”, even more people would for for the next ponzi scheme. So don’t give me that load of crap please.
— Dr. Feel (@Shegstein) December 13, 2016
So MMM Nigeria is a ponzi scheme that helped people start up business.
Naija govt is a ponzi that only helped politicians.
Which 1 is beta?— I Like Me?? (@CAN_Divine) December 13, 2016
MMM Nigerian users are like DONALD TRUMP supporters,they see facts but they chose to believe delusion. @realDonaldTrump #PONZI
— tessy okwori. (@tessy321) December 13, 2016
googled mmm first thing I saw was ponzi scheme bruh
— Toyohisa (@sejeez) December 13, 2016
Lol, who said everyone knows what “Ponzi scheme” means?
What if Ponzi means money in another language ??? https://t.co/qJ6nrzozIp— Adamaramma (@PrincessIlonze) December 13, 2016
LMAO… Ppl will still get involved in ponzi schemes if new ones show up
— Hadid (@samajeez) December 13, 2016
To be fair, the MMM promoters have been very transparent about the fact that it’s a Ponzi scheme that can crash any time.
— #BringBackOurGirls (@OKShorty1) December 13, 2016
Those partaking in the Ponzi scheme knew it was going to crash at some point, they just kept deceiving themselves.
— OLUWATOSIN (@faroukAlabi) December 13, 2016
Federal govt of Nigeria did all it could to dissuade Nigerians from participating in the Ponzi scheme… Today they are wailing
— akanikot (@phosius) December 13, 2016
But The truth be told Nigerians were forced into these Ponzi schemes, Mavrodi took advantage of the recession in the country!
— Harmony ? (@TwittHarmony) December 13, 2016
But The truth be told Nigerians were forced into these Ponzi schemes, Mavrodi took advantage of the recession in the country!
— Harmony ? (@TwittHarmony) December 13, 2016
We’ll still do another ponzi scheme. We are Nigerians, it’s what we do.
— Pablo (@abyhonour) December 13, 2016
Lmao. I never believed in MMM for one day. Can’t fool me into all these Ponzi schemes.
— Jennifer (@jenniferwest__) December 13, 2016
It’s funny or scary how easy it is to set up a Ponzi scheme. It’ll be transparently a scam but man’s greed tends to overpower his reason.
— Ñ. (@NajeebWali) December 13, 2016
