Nigerians lament badly as MMM ponzi scheme freezes accounts of participants

wuzupnaija
7 Min Read

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.

mmm
Initial message sent to participants of the scheme about the freezing of their accounts.

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:

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