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News update, entertainment news, politics, relationship tips, gossip gist, sports
MMM Nigeria has denied being the ones hosting an alleged Inaugural National MMM Guiders Conference supposedly meant to hold 14th to 15th April, 2017 in Lagos. '

Here's a statement they released:

After the cut is a chat from Chuddy denying being part of the fake inaugural conference.
DISCLAIMER NOTICE 
Dear Guiders and Participants of MMM NIGERIA community, this notice is to disclaim the latest information and invite circulating in the community about a proposed National Guiders Conference, the source of this invite is not known and we want to believe the 
event is actually aimed at causing more panic to our community. 
We would implore all and sundry to kindly ignore this invitation. The invite is not from any known leader of the community. 
SIGNED.
For: MMM NIGERIA


News update, entertainment news, politics, relationship tips, gossip gist, sports
Makurdi, the Benue State capital, was thrown into mourning last Friday after the discovery of a lifeless body of a mother of two said to have drowned herself in River Benue due to her inability to repay the loan of N400,000 she invested in MMM.

Husband of 34-year-old mother of two, Gloria Samson, said he didn’t have any inkling that his wife planned to kill herself.

Speaking in an emotion-laden voice, David Samson told SUNDAY PUNCH that he was aware that his wife was a victim of the money-doubling scheme; Mavrodi Mundial Moneybox otherwise called MMM.

The deceased began the journey to her final resting place at a public cemetery located in Ankpa ward, 
Makurdi, the state capital, last Friday.

As her corpse, wrapped in a casket, arrived in the cemetery, crowd of mourners wore gloomy faces, women wept profusely and men in teary eyes shook their heads intermittently.

The circumstance surrounding the death of the woman fuelled the agony of the sympathisers who knew the deceased. She lived with her family at Vandeikya Street, Makurdi.

Sources told SUNDAY PUNCH that the woman left home without her phone three days after Christmas and reportedly told her kids to forgive her. She also sent same message to her husband through her children.

It was learnt that few days after she left her home, precisely January 2, the police in Benue discovered a lifeless body floating on River Benue at Wadata area, few kilometers to her residence.

Rescue operations got the floating corpse and deposited the remains at the Federal Medical Centre, Makurdi.

 Meanwhile, Gloria’s family had searched for her for three weeks until they heard about the corpse the police discovered on River Benue which later turned out to be her.

Samson disclosed that he was aware that his wife took a loan of N400,000 from four different places which she did not invest in her petty business.
He said,
 ‘‘My wife was into petty trading and she had been collecting soft loan from a micro finance bank to boost her business. Anytime she collected the money, she paid back and in most cases, I was her guarantor.
“You know women sometimes keep secret; towards November and December 2016, I discovered she took a loan from four places amounting to N400,000. I do not know what she used the money for because there was nothing in the shop to suggest that she invested the money in her business.
“She did not tell me but what I observed is that my wife developed a cold attitude around the time the report of the freezing of accounts of MMM subscribers in Nigeria went viral. Her attitude changed and she became depressed.”
He stated that the situation lasted till the Christmas period and when he asked her what the problem was, she told him that she was sick and he told her to see a doctor.
“She obliged and was diagnosed of typhoid and malaria and placed on medication. Even on Christmas Day, she could not go to church. A day after Christmas, she complained of pile and I had to buy traditional medicine which she declined to take. 
On December 28, 2016 around 11pm, I was at my place of work when my son, Wisdom called me using his mother’s phone number telling me that his mother had left the house since and had yet to return. I told him I was close by and on getting home, I did not see her. I discovered that she left the house with a gown and bathroom slippers.
“I tried to look for her and could not find her. I picked my phone and contacted my siblings and brother-in-law. The following morning, I went to B Police Division to complain but I was told to wait after 24 hours, which I did. On the second day, I was asked to make a statement and leave behind my phone number.’’
The distraught husband further said he did not hear from the police for two weeks and he had to keep searching and informing people in case anyone of them saw his wife.
“Some members of my church including my pastor were aware and kept on interceding for us. This continued until last Tuesday when a woman came to my house and told one of my neighbours that a police woman told her that they discovered the body of a woman floating on River Benue around Wadata area since January 2.
“Immediately I heard this, I was perplexed because something in me told me it might be my wife. I told my neighbour to join me to go to A Division at Wadata. When we got there, the police showed me the picture of the dead woman and I discovered that she was my wife.’’
He told Punch that he was still confused as to what could make his wife to kill herself. He stated,
“My wife loved herself and she could not even allow a razor to touch her body not to talk of going to this length. That is why I said it is more of spiritual attack, but only God knows.
“At the same time, when you look at the whole scenario, there is a conclusion that the money she collected was not invested in her business.’’
Neighbours of the deceased who spoke on condition of anonymity said she became moody shortly after the operators of the MMM froze three million accounts belonging to its Nigerian subscribers early December.
One of them said,
 “What we gathered is that she borrowed money from four different places and invested it in MMM. But shortly after MMM froze the accounts of its Nigerian subscribers, she withdrew from people.”
Another neighbour stated,
“The woman was a jovial person but suddenly she withdrew to herself. I even tried to find out what was wrong with her because she was my customer but she did not tell me. She had a shop where she sold petty things. I later gathered that she took a loan from various places but instead of using it for her business, she invested it in MMM and since its collapse, she had refused to talk to anybody.”
One of the late woman’s customers at Wadata market, Makurdi, identified only as Bridget said,
“We met before Christmas and she lamented that she invested the loan she took from a micro finance bank and other sources in an investment that would bring quick and double money (referring to MMM) but the thing collapsed. She threatened that she would run away and I even preached to her not to do so. Since then, I did not see her again only to hear last Tuesday that she drowned herself in River Benue around Wadata.”
When contacted, spokesman for the police in the state, Moses Yamu, confirmed the incident.
“The husband of the deceased had come to claim the corpse,” he said.
Source - Punchng.com

News update, entertainment news, politics, relationship tips, gossip gist, sports
It was reported yesterday that MMM Nigeria top Guider, Chuddy Ugorji and his wife, Amaka have reportedly fled the country to the Philippines.

It was gathered that Ugorji, left Nigeria with his wife to the Philippines. He fled the country when many investors were waiting to be paid their money with the accrued interest, the News Agency of Nigeria reported.

Chuddy’s relocation came barely 24 hours after he released new conditions for payment of participants. He had given the impression that the Ponzi scheme had started paying outstanding money to participants of the scheme, but it's not totally true.

Freeze reacted to the news below...

"I predicted Donal Trump was going to be president, you told me to keep quiet.
I warned you guys about MMM, you told me to shut up. You chose to listen to the Yahoo boys that advertised it in church. The only person who listened to me was my son's nanny. Someone said to her; "Why your Oga no want make you do MMM? He wan make you do housegirl work till you die?" Today the lady that heeded my advice still has her money, while the one who doubted me lost all her investment, and has returned to a life of peasant farming in the village.
I will not stop warning you about Yahoo boy pastors or the disadvantage of going to war, no matter how hard you tell me to shut up! ~FRZ"

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Chuddy Ugorji and wife

It has been revealed that a Mavrodi Mondial Moneybox top guider, Chuddy Ugorji and his wife have absconded from the country following problems being experienced by those who invested in the scheme after its return in January.

According to reports, the duo fled to Philippines to avoid being attacked by aggrieved members of the scheme. It has now been revealed that Ugorji and his wife fled the country when many investors were waiting to be paid their money with the accrued interest which has failed to be done as members continue to lament.

It was gathered that Ugorji's disappearance came just 24 hours after he released new conditions for payment of participants. He had had many believe that the scheme had returned fully, but still many have not been paid their outstanding money which accrued during the time the accounts were frozen in December.

Ugorji's whereabouts is yet unknown as he has not been heard from for a long time now. Many are still hopeful that the scheme will bounce back in no time.

Here is the new guideline issued on Wednesday by the administrators of the ponzi scheme.

It said, “As a necessary measure, we decided to set limit to withdrawal this week thus the N31,000 maximum withdrawal on your PO.

“We are still committed to prioritise paying smaller amounts first and gradually increase the amount to higher ones. The system does the calculations and knows how to calculate everyone’s mavros.

“Between Friday that we opened and today, hundreds of thousands of GH orders have been matched. More and more GH orders will be matched as time goes on. If you see error notification when trying to GH, just keep trying.

“PH to GH is still a suggestion to be tabled before Sergey Mavrodi for consideration. Disregard any info suggesting that you must PH to GH till further announcement in your PO. Freezing of bonuses for now is another suggestion to be tabled before Sergey Mavrodi for his consideration. Which means if approved, you will only be able to GH your personal contributions for now until the system recovers and stabilises.”

News update, entertainment news, politics, relationship tips, gossip gist, sports
1. There is No Central Account So Your Money Cannot Be Taken By Anyone

The truth is that MMM is setup in such a way that the guys at the top can channel and transfer huge funds probably going into hundreds of millions of naira out of the system and leave the low-level members to pay for it. This is primarily what has happened; you don’t see top Guiders complaining?  Why? They have made their huge profits from gaming gullible people at the bottom of the pyramid.
2. It is a Mutual Help Community 
If this is so, I am sure Nigerians are very kind people,  the fact that millions cannot ‘Get Help’ tells 
you, you entered a Ponzi scheme not a mutual help community.
3. Authorities in Different Countries are Against MMM Because it Threatens Commercial Banks 
This is practically not true in Nigeria because you Mavrodians were paying money into each other’s’ bank accounts; the more transactions you do, the more money banks make. Nigerian regulators like the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) warned people against MMM and similar schemes because it is their duty to do so. As you probably realize now, they cannot help you if you lose money from the scheme, what they should have done, they did.
4. MMM is Not an Investment, It is Charity
Then why are you worried and your blood pressure rising?  I do not lose sleep over charity I give, if you are losing sleep over money you put in MMM that is not coming back to you, then you were investing in the hopes of a huge return, not giving charity.
5. Mavrodi Cares So Much About the World and Created MMM to Help the Poor
Really? An ex-convict from Russia where you can get away with a lot of things that will land you in jail in other countries cares about you? Sorry, Sergei Mavrodi is just a convict that has not changed his ways.
6. You are Helping to Positively Change the World by Joining and Promoting MMM
You mean you are helping Mavrodi scam more people. The world definitely needs positive change. However, it is not going to come from Ponzi schemes like MMM.
7.Those that are Asking You Not to Join MMM are Jealous of Mavrodians
An old adage goes: ‘A fool and his money are easily parted’, nothing to be jealous about in this.
8. Mavros keep Growing and are Actually Worth Much 
At least now you know that you can have 1 trillion Mavros but it will not buy you anything at the market, maybe a dirty slap though.
9. Nobody is Controlling the System, It is self-sustaining
Now, you know better of course. From freezing accounts to changing the rules in the middle of the game, you definitely have someone bossing you around in this Ponzi scheme.

10. Those that Warn You Against MMM Do Not Want to Be Rich 
You really need to be part of our organization’s meetings to see that there are probably very few Mavrodians that have more drive to make money than me. The only difference is some of us seek legitimate money and are not looking for get-rich-quick schemes.

Good things rarely come easy, I am sure you are in the process of learning this by now. You can drop a comment to react to any or all of these 10 points. 

Written by Abdulkabir Olatunji, the Head of Strategy at Jarus & JAN Internet Group and an Associate Member of the Nigerian Institute of Management (AMNIM). His interests include writing, blogging, all-things-tech and analysis of current affairs and sports. You can follow him on LinkedIn and on Twitter @maclatunji



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An MMM participant has reached out to fellow members of the scheme, in an open letter he shared on Facebook.
Read below:

SIMPLE TRUTH 
"The media won't employ you if you join to kill MMM. The bank will also not, and the government as well. If they employ you, they will make you a servant of money. You will be enslaved once again. 
"MMM has been working to liberate those in it from financial slavery. We all survived last year's recession because of MMM. When the government made things difficult for us. 
"The bank didn't help you to survive. There was never increase to your deposit, same as the media who laid off staff and also banks that sacked without reason. The Bank will rather extort money from you with charges that you can not refuse to pay... 
"My fellow mavrodian, see how unjust the world is! We are been cruel and impatient with MMM. For the upgrade they want to effect for a better system in 2017. 
"Go back home and look through your bank statements. All the deposit received last year in your account...Am sure if you have been in MMM for while, you will understand that MMM deposit has 90% of it... Let's be wise friends and beloved.
"Since 1999 we have been hearing promises on good governance in the middle of the atlantic ocean never come nearer to you because you can't swim the ocean...Government keep playing our intelligent in the name of democracy. Now you have a platform to give you a lift to better life...You want to kill it with your own hand....People be calm...Like as I said everyone will be settled completely...
"MMM is real.. MMM will still pay us in 2017. Encourage those you know to pay their order.
"Me & You are the real MMM...."

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illustrative purpose

The crash of the popular ponzi scheme, Mavrodi Mondial Moneybox, MMM, may be nearer than expected as more intending help providers (Provide Help) continue to renege on their promises to pay help seekers (Get Help), reports Daily Sun.

Explaining further, the report stated that operators of the scheme had announced that the scheme would attend to small investors first while subscribers with bigger financial commitments would have to wait a bit longer.

This was, however, not to be as the applications of those who signified interest in getting help (GH) were cancelled while intending help providers (PH) were put on hold. Promoters of the scheme had attributed the delay to upgrade of the system. 

 However, when some help seekers (GH) were eventually matched with intending help providers (PH) on Friday, findings by Sunday Sun showed that a good number of intending help providers reneged on their promises to pay.

Some mavrodians, who spoke to our correspondent, blamed the failure of help providers to fulfill their promises on the growing uncertainties surrounding the scheme.

A subscriber, who simply identified himself as Michael, said he refused to pay the help seeker he was matched with because he no longer believed in the scheme. “I was paired to PH but I declined because I am not sure if I will ever get my money back. Some people I know to have been paired have also declined to pay. The way things are unfolding, the scheme cannot survive this week,” he said.

Narrating her inability to get help despite having been paired,  a subscriber who gave her name as Rolake,  said: “I was paired to get help but none of my PHs has responded.

When I called to remind them yesterday, two of them promised that they would pay me but when I called them this morning neither of them picked my calls,” she said.

But while many help providers continue to ditch the scheme, Sunday Sun gathered that there are few others who are still willing to give help.

Subscribers, who belong to this category, it was gathered, are largely those who have their money trapped in the system and who have also signified interest to give help.

One of them who claimed to have N200, 000 trapped in the scheme said he was compelled to pay somebody yesterday because of fear of losing his money.

“I paid somebody yesterday because I don’t want my account blocked. I have N200, 000 in my account before it was suspended last year and since I had also indicated intention to provide help.

If I didn’t provide the help, my account would be blocked and that simply means I would lose all my money,” the subscriber who gave his name as Ebuka said, adding that, “it is easy to back out only if you don’t have money in your account.”   


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illustrative purpose

Nigerian participants called Mavrodians in the discredited ponzi scheme, MMM, are losing patience with it, The Nation has reported.

Their patience snapped a week after resumption of service and promise to begin payment.

Although there was evidence that some participants had been paid ,thousands of others whose applications were yet to be attended have been venting their anger on the brains behind the scheme for the frustration in accessing their funds.

They rage,curse and threaten unrestrained on the MMM Help platform after unsuccessful attempts to get response to their many inquiries on the status of their investment.

Typical of the threat message is this seen yesterday on the MMM website: “Hello Mavrodi. You can’t eat my money and go like that.See, let me tell you Mavrodi:my father is a native doctor.I give you two weeks to pay my money or my father will kill you in that Russia.I’m ready to kill anybody including my guider and referral.Make una no play with me ooo…If you like joke with me.”

One Hayat Mohammed said: “I really need help. I provided help of 50,000, now I made a request to get help. The request was processed, but I’ve not being matched with another participant who will pay me. They won’t even pick my calls. So my money is lost, isn’t it? Last time I checked, this was supposed to be a platform where we would be able to tender our problems for solutions. I guess they don’t care anymore since participants have grown in population.”

Harrison Ita Etim posted: “I am still in the same shit too till today!”

Owhotemu Maryjane said: “What is really going on with MMM? If it’s gone you should let us the participants know. And why is that when someone wants to GH it will show or create error? You guys had a month to sort this out during the so-called break! So what then is this so called withdrawal limit that you are now talking about?”

From Santos Maemi came this: “To all Nigerians, please wake up. This is totally a scam. Don’t be blind!!!” while Christopher Chinedu said: “If I knew that this would happen, I shouldn’t have become a participant. Let’s admit we have lost our money. That is business I guess, lose or gain. Somebody has been matched with different people, four, to be precise and they have not paid him now, many days and months after. Hmmm so who is going to pay who? I think I have cried enough, it’s time for me to clean my eyes now and forget my N700,000. This is not my end.”

A cross section of participants interviewed in Ado Ekiti fear that their money is gone.

Tope Aladeniyi, who said he was to be paid a day before the scheme was shut down in December, said he learnt some people received little payments, but he was yet to be matched for payment.

“At the moment, I have not been matched, and last year we were told that once the scheme resumed on January 14, they would be the ones to release those who were ready to be matched, even if you were due for payment,” Aladeniyi said.

Another participant, Sola Abidakun, who provided help in November and asked for help on January 13, said he was matched with four persons but only two paid.

“I was only paid N4000 and N10,000, leaving two failed transactions waiting to be rematched,” he said.

A top guider of the scheme, Bode Wilson, while explaining the reason for delayed payment, said that the number of people requesting for payment was higher than the number providing help.

“They have started matching people, but there will be delay in payment, especially for those that pledged huge amount of money. There should be enough money in the system before everybody can get paid. However, I’m sure we will all get paid”, Wilson said.

A lawyer, Femi Oyeniyi, warned that participants in the scheme may not be able to recover any money lost in the scheme because of the anonymity the business is shrouded with.

Oyeniyi said: “who do you sue, you don’t see the person you are doing business with, you can only sue the person you see and it is only the person you see physically that you can do business with.”

A broadcaster,Carol Oladeinde, said: “I have a relation who did the MMM thing and was benefitting from it before they went off. I do not think that we should condemn the financial scheme (MMM) because a lot of people have benefited from it. I am into another networking stuff. I am a member of another one and it is working.

“Yes, I will continue with mine because I know what I am benefiting from it. I can’t go anywhere to borrow money so if I am involved in a financial scheme where I see someone give me indirect loan and even increase my opportunity to get more, why won’t I continue?

Martins Okafor, a participant investor in Awka still believes in the scheme.

He told The Nation that those who have not received any payment were those who have not been matched for payments, especially those invested shortly before the break.

Another investor, Miss Blessing Nwankwo, was also optimistic that her investment would not be lost

She said she was willing to forfeit N10,000 of the N20,000 she invested, adding that she had no regrets whatsoever.

Mrs. Chiamaka Udu, a participant in Port Harcourt, said: “ We thank God that we are able to be alive to see today.

“The last time when you came to my house to talk to me, I told you I was going to die, but I think there is hope. What is happening now is that those of us with big funds are not being paid now. They told us that we should wait; that after providing help for those with small amount they will consider us.”

Mr. Geoffrey Nnamdi said: “My brother, I ‘m yet to understand these people. Though they are paying some, when I clicked help they rejected my request, saying I should wait but I need this money.

Another customer, Mr. Davies Onyema reacted this way, “Please, I don’t want to say anything, I almost committed suicide last time. I was very happy when I heard the news of their coming back. I have entered forty days of praying and fasting over my condition with MMM. How can they return and tell me that they are not going to provide help to me, so when are they going to provide help?”

-NAN


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Nigerians on social media took to Twitter earlier today, 20th of January, 2017 to mourn the 'demise' of the controversial money-spinning scheme - Mavrodi Mondial Moneybox. 

Nigeria’s number one ponzi scheme, Mavrodi Mondial Moneybox (MMM) might have finally crashed as purported in the media

The scheme resumed in January after a temporary freeze but many participants say they are unable to withdraw funds from the scheme.

A participant may “withdraw” funds by requesting “help” from MMM which then matches him with another participant who is mandated to pay the person seeking help. It seems no one wants to “provide help” anymore after MMM unfroze in January.

Nigerians who criticise the scheme have gone on Twitter, with the hashtag #MMMgone, to mourn and gloat at the “demise” of MMM.

See screenshots of some to the interactions on the micro-blogging site:
 




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According to Google, the sacking of Joseph Aiyedun, a pastor with the popular Nigerian church, Omega Fire Ministries, is trending on their site.

Google’s Communications and Public Affairs Manager, Anglophone West Africa, Mr Taiwo Kola-Ogunlade, said in a statement in Lagos that the pastor was sacked for registering with the controversial ponzi scheme, popularly known as MMM.He said that the development, according to Google Trends, topped searches from January 11 to January 18.

Kola-Ogunlade said that the scheme surprised many operators this year when it resumed its activities after freezing their accounts for a month.

He said that MMM on resumption of operations had said that it would give priorities to the poor in its Give Help payments, while the rich would have to wait for some time.

The Google spokesman also said that Nollywood star, Tontoh Dikeh, seeking for forgiveness from her colleague, Mercy Johnson, on social media was also top on Google search this week.

“To err is Tonto Dikeh, to forgive is Mercy Johnson,’’ Kola-Ogunlade had quoted Dikeh as saying.

“Tonto Dikeh went on social media to seek the forgiveness from Johnson who she insulted four years ago, for which Johnson replied immediately, telling her she forgave her wholeheartedly.

“Dikeh has also raised questions on her marriage as she recently dropped the last name of her husband and the description ‘wife’ from her social media page.

The Google manager said that in honouring past heroes, the release of 257 Boko Haram detainees got people’s attention online.

He said, “While honouring its fallen heroes at the 2017 Armed Forces Remembrance Day in Maiduguri, the Nigerian Army announced the release of 257 Boko Haram detainees detained by the Borno State Government.

“The detainees were released after investigations revealed that they had no links with Boko Haram.”

Kola-Ogunlade said the week became more interesting when internet users asked if Lindsay Lohan had converted to Islam.

He said, “News going around on the internet has it that, popular American actress and singer, Lindsay Lohan, might be converting to Islam.

“Although Lohan has not made an official statement in this regard, the actress has deleted her Instagram account and changed her bio on the social media site, to read ‘Alaikum salam’.

“Her mother,however, explained in an interview, that she had not converted to Islam, but is only taking a break from social media.”

He said that the America’s mega church pastor, Eddie Long’s death got attention online.

He said, “Long, whose image was stained after he was accused of sexual coercion by four members of his congregation, died at age 63.

“The pastor who led the New Birth Missionary Baptist Church died of stomach cancer. He is survived by his wife, Vanessa Long, four children and three grandchildren.”

He said that Chuks Okebata, the murdered US Army veteran, got people’s attention online.

He said, “The wife of murdered US Army veteran, Chuks Okebata, who was kidnapped and murdered by yet-to-be-identified gun men, has affirmed that she is not guilty of murder.

“This followed the release of a video by the deceased’s sister, which showed him in a quarrel with his wife.”

The Google manager said that other trending stories this week include Gambia’s President Yahya Jammeh, who has insisted he would not step aside for the inauguration of the newly elected leader, Adama Barrow.

Other trending stories include surfing to know the score line for the European Premier League result and AFCON 2017.

Google Trends launched in May 2006, allows one to see how popular search terms and its demography have been over time on the search engine.

(NAN)

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Popular Ponzi money doubling scheme, Mavrodi Mondial Movement, MMM, has explained why their Get Help Order, GH, was removed from its site.

Recall that the Ponzi scheme had in December suspended its operation with the promise to resume on January 14, 2017.
Despite resuming a day ahead of its scheduled resumption date, some participants have been unable to do withdrawal and apply for help.

Some participants can’t access the Get Help Order on their dashboard, while others claim they can.

Explaining the reason for the missing Get Help Order on the dash board of some of its participants, MMM, in a message on its website said the GH button was not cancelled but was only removed due 
to system upgrade.

The message reads,
 “Many participants woke up this morning to see that their Get Help (GH) orders have been removed completely from their PO’s Dashboard. Though some people called it canceled but the truth of the matter is that it was only removed not canceled. Please note that the GH orders were not cancelled because if cancelled, you will see it at the right hand side as deleted. It was removed because of the following reasons:
“There is an ongoing upgrade because programmers are always working on the MMM system every day so the promised New Model can be unveiled as soon as possible. You might notice earlier this morning, the login Captcha was showing alphanumeric as against the numbers until it restored to numbers later today.
“Moreso, many participants have formed the habit of cancelling their GH orders and creating new GH orders hoping they will be matched earlier. There is no need for that anyway but to forestall that, the created GH orders were removed and that is why you can’t create new GH orders because the old GH orders have not been cancelled but removed and withdrawal is still pending.
“There is no cause for any alarm over the removed GH orders, if you check your Mavro, you will notice the value of the removed GH order has been restored and had also increased though it is still showing pending withdrawal.
“There have been reports of “removed GH orders” in some POs. The removed GH orders are mostly GH orders created on Friday/Saturday.
“There is no cause for any alarm. The value of the removed GH order has been restored and increased though showing pending withdrawal.
“The removal of the GH orders and other changes/errors you might notice are indications that the#NewModel is taking shape gradually.
“Tuesday (Mavro growing day), a lot of participants created GH orders thus the message “GH amount exceeds allowed daily maximum.
“Please await further instructions either to create a new GH order or if it will be automatically restored and matched.
“We crave your indulgence, patience & understanding at this period. We are doing our best to have these issues/upgrades resolved ASAP.
“Let’s be patient while the Administrators of MMM do their best to restore the confidence we have in the system.”


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New information about what the owners of the controversial Mavrodi Mondial Movement, MMM, may be thinking of doing soon, has emerged. 

It has been revealed that the owners of the Mavrodi Mondial Movement, MMM, may be considering a new strategy soon to keep people in the scheme.

This is coming nearly a week after the scheme's return and the seeming less enthusiasm by Nigerians as against what obtained few months ago.

It will be recalled that that MMM reopened operations on January 13, after one month freezing on accounts that generated anxiety among participants.

According to a Daily Post report on Tuesday, MMM is considering jerking up the interest rate to 40 per cent from the current 30 per cent rate.

A top guider, who spoke to the newspaper on condition of anonymity, revealed that MMM was indeed worried that, “the excitement and inflow has rapidly dropped.”

He then disclosed that one of the ideas being debated by MMM top hierarchy was increase in interest rate, which currently obtains in one of the African countries the scheme recently launched.

Asked how MMM is managing the high number of request for withdrawals r help, the guider based in the South East, said, “the truth is we were prepared.”

“You know that many wanted to take their money during the Christmas and New year celebrations but could not.

“Some wanted to withdraw to pay rent, school fees and other bills. So now that the accounts have been unfreeze, they are demanding for their money.

“At this moment, we are having more outflow than inflow. In other words, those ready to provide help have dropped by half.

“The economy too is worsening and we understand that it is only when people have, they will give.”

Responding to why many participants who have millions of naira are yet to be paid, he explained thus: “We are processing, but can’t pay them now.”

“We need money in the system and that is why the increase in interest is on the cards so some can decide to leave their funds.

“That said, participants that have between N50,000 and N300,000 or so are being paid on a daily basis, you can do your findings.”

On the introduction of Bitcoin, for MMM operations, the guider stated that participants will start receiving more information on BitCoin when they log in.

“MMM has observed that many Nigerians really don’t know much about digital currency and to address this, video, audio and text lectures are being uploaded to enlighten participants.”

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As the debate continues on whether or not the ponzi scheme, MMM is worth investing in, Yinka Odumakin, here, weighs in on the matter, digging way back to when it all began. 

Those who were in Lagos around 1991-2 would remember Forum Finance located on Allen Avenue in Ikeja,a company that employed a number of young men and women in flashy cars going about town duping the gullible of their hard earned money .Its famous advert was “Forum go double your money!”. It paid outrageous returns to its earlier investors and this made many fools to part with their money . By the time the bubble burst,it was sorrow and tears for thousands of unwary who lost their fortunes to the Ponzi scheme . 

Ponzi schemes are named after Charles Ponzi, an Italian immigrant who perpetrated a legendary scam. Actually, he wasn’t the inventor of this type of scams – it was called “Robbing Peter to pay Paul” schemes – but his was so large that his name became synonymous with it. 

Ponzi started a business buying and selling a type of postal coupon and promised investors a 50% return on their money within 45 days (compare this to an annual 5% interest for bank savings account at the time). 

Money from investors 

Ponzi’s early investors did get their money doubled and even tripled in a short amount of time. This, and glowing newspaper reports at the time about his company, the Securities Exchange Company  got him a lot of money from investors. At one point, Ponzi took in $1 million in a three-hour period from investors. All in all, about 40,000 investors invested about $15 million in Ponzi’s scheme in nine months between 1919 and 1920 (about $184 million in 2017 value).

Failed Scheme: 

When it was discovered that Ponzi was paying old investors with money from new ones, his scheme collapsed and he was sent to jail … for five  years! After serving his federal sentence, Ponzi was sentenced by the State of Massachusetts for an additional nine years, but he skipped town. Ponzi ended up in Brazil, where he spent his last years in poverty and sickness.

Before he died, Ponzi gave one last interview where he confessed to his crime.  “My business is simple. It was the old game of robbing Peter to pay Paul. You would give me one hundred dollars and I would give you a note to pay you one-hundred-and-fifty dollars in three months. Usually I would redeem my note in 45 days. My notes became more valuable than American money … Then came trouble. The whole thing was broken.” (Zuckoff, Mitchell, Ponzi’s Scheme: The True Story of a Financial Legend, p. 313)

Early Ponzi schemes: 

In the 1980s in San Diego, California, J. David & Company, a purported currency and commodity trading and investing operation named after its founder, J. David Dominelli, a withdrawn and shy currency and commodity trader, was revealed to be a Ponzi scheme which took in $200 million and returned $120 million to investors, leaving a net loss of $80 million. The scheme touched all levels of upper class business and professional life in San Diego and environs. One of those most closely involved was Nancy Hoover, the mayor of Del Mar, California, a cozy upscale beach town just north of La Jolla. Hoover was J. David’s assistant and live-in companion at the time. Also involved was the prominent New York law firm Rogers & Wells (now Clifford Chance), which had advised J. David (through a rogue partner) and others. When the fall came, J. David briefly escaped to Montserrat in the Caribbean, but was returned ultimately to plead guilty to federal charges and was sentenced to 20 years imprisonment,serving 10 before being paroled.

You should not have forgotten now that financier Bernard “Bernie” Madoff was arrested for running a Ponzi scheme. There are four notable facts about his operation: It was the largest (dollar-wise) It was the longest-running (known) Ponzi scheme in history. Investigators sifting through the record found evidence of hanky panky since the 1970s. It was perpetrated by one of the pillars of Wall Street – Madoff was a former chairman of NASDAQ

His victims are some of the most financially savvy and rich people in the world (you need at least $20 million to “invest” with him). His  website used to say before it was taken over by authorities: In an era of faceless organizations owned by other equally faceless organizations, Bernard L. Madoff Investment Securities LLC harks back to an earlier era in the financial world: The owner’s name is on the door. Clients know that Bernard Madoff has a personal interest in maintaining the unblemished record of value, fair-dealing, and high ethical standards that has always been the firm’s hallmark. There was also  Biletov  or fractions of shares of the MMM Corp, bearing the likeness of Sergey Mavrodi. Just one million people? Meh, said Sergey Mavrodi. His scheme duped two million people!

The Mavrodi  scheme: 

Mavrodi was a Russian scammer who along with his brother Vyacheslav Mavrodi and Vyacheslav’s future wife Marina Murayveya, founded the MMM company in (the triple Ms came from the surnames of these three people). In the early 1990s, MMM promised dividends of 1,000%, promoted itself heavily in TV ads, and delivered on its promise.

At its peak, Mavrodi’s company was taking in more than $11 million a day from the public! Within five years, Mavrodi took in $1.5 billion from at least two million people. When the whole thing unraveled and the police raided MMM offices for tax evasion, Mavrodi pulled another fast one: he convinced his “investors” that it was the government’s fault that they lost their investment. He even ran for the Russian State Duma (the lower house of parliament) to get the government to initiate a “payback” programme … and he was elected! That was a good thing because he got himself a parliamentary immunity.

When his immunity was later revoked, Mavrodi went on the lam. In 2003, he was arrested , fined $390, and sent to a penal colony for four-and-a-half years. That translates to about $38,052 swindled per hour in the slammer. MMM surfaced in Nigeria in 2016 with a promise on 30 per cent return on any money into the scheme in 30days! 

House of Reps intervention 

The House of Representatives did one good in its life by warning people against this scam. It asked the Economic and Financial Crimes Commission, EFCC,  and the Central Bank, CBN,  of Nigeria to immediately go after the promoters Mavrodi Mondial Moneybox, otherwise known as ‘MMM’ in Nigeria. Lawmakers strongly opposed the investment scheme, which lately gained popularity among Nigerians in the wake of the current economic recession in the country. The Chairman, House Committee on Telecommunications, Mr. Saheed Fijabi, had in a motion, drawn the attention of the House to the growing popularity of the scheme among Nigerians.

“The scheme entered the Nigerian circle in 2016, capitalising on the high level of unemployment and poverty to deceive unwary Nigerians into falling  prey to their antics”, Fijabi stated. He added that  the fact that MMM was not regulated by law or approved by the CBN as a secure business venture, made Nigerians more vulnerable. Nobody did anything.

By December 2016 when the company froze the accounts of its 3m “muguns’ it had raked billions of Naira unhindered . The level of our ethical collapse was seen with images of worship places that should teach the right values about wealth creation organizing Ponzi seminars for MMM in their auditoria.How low can it get for a country .

Our security agents who were raiding Bureau De Change operators months ago are not yet on record to have gone after the MMM operators who are not known to gave been licensed by the CBN to carry out any financial operations in Nigeria. Is there a government here ? My heart sank when I saw Nigerians in their hundreds dancing and holding a vigil on the eve of the January 14 promise by the Ponzi schemers to start another round of duping session.

My conclusion was that these people are irretrievably damaged psychologically and it would take a major shock in the system to get them to reason like normal cognitive human beings on this side of eternity. Is their fault totally ?  No,I think the wayward Nigerian system which places emphasis on “sharing” has turned them into playthings in the hands of scammer because of expectations of free money in the order of our allocation mentality.

******
Written by Yinka Odumakin 

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A pastor in one of the Nigerian branches of Omega Fire Ministries Worldwide has been expelled from the ministry. Recall that Pastor Suleman condemned the scheme, calling it satanic.

According to a statement signed by Pastor David Apelorioye, the head of admin at OFM, Pastor Joseph Aiyedun, who is in charge of one the OFM branches in Aba, Abia State, was fired for participating in the Mavrodi Mondial Movement (MMM), a ponzi scheme widely acclaimed to be a satanic venture.

It should be recalled that the founder and president of the OFM, Apostle Johnson Suleman, at a church service in November 2016, warned members of his congregation against involving in MMM, calling it 'demonic'.

The statement from the church reads thus;

"The management of Omega Fire Ministries Worldwide is using this medium to react to a news making the rounds on the social media regarding one of his pastors who used the ministry's name to register for the MMM scheme. Ordinarily, the church would not have reacted to the story because of falsehoods being published regularly by some blogs and news websites whose credibility are questionable. But after a thorough investigation by the church authority, it was established that one of our branch pastors in Aba, Pastor Joseph Aiyedun, indeed participated in the scheme."

The statement adds that the erring pastor was sacked after a thorough investigation and it was discovered that he used the name of the church to register for MMM, thereby denting the ministry's image in the public eye. It was gathered that the erring pastor would have just been disciplined in line with the church rules if he had registered for the scheme in his personal capacity but because he used the ministry's name for the scheme, he was asked to go.

"The church authority decided to expel Pastor Aiyedun not because he registered for the ponzi scheme but because he involved the ministry's name in the satanic adventure. And we discovered that he was able to use the ministry's name because he had access to the account of his branch which itself is against the church's guidelines and a fraud likely to have been carried out in connivance with the branch's account department. We are still investigating further to unravel the whole activities."
The statement therefore appeals to the general public to disregard any news being passed around about Omega Fire Ministries involving in the MMM scheme or any scheme of its kind because it is not true. 
"Of the OFM's 200 churches in Nigeria alone and its 800 branches in 51 nations of the world, it is possible for any of the pastors to go astray and be corrected. In fact, we discovered that Pastor Aiyedun, including some other members of OFM, did the scheme before our father, Apostle Johnson Suleman made the warning last year against MMM, but Pastor Aiyedun was fired because he did it with the ministry's name as the OFM rules forbid any of its pastors access to the account except people in the account department."
It was gathered that to enable him look after his family whilst he searches for other things to do in life, the church paid the sacked pastor a full one year salary ahead on the instruction of Apostle Suleman who was not available for comments at press time.

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“Happy New Year, my brother”

“What do you mean happy new year, more than two weeks into the New Year. Have I not been in touch with you since January 1?”

“But for you the New Year has just started. Your January 1 was not on January 1”

“Looks like you have started taking something. I must inform your wife.”

“I say Happy New Year to you.”

“Okay, same to you.”

“You think I don’t know what you have been going through? Your wife told me you have not been yourself since those Mavrodi Mundia Moneybox people suspended their scheme. She specifically asked me to keep an eye on you. But we thank God the MMM is back, 24 hours earlier than they promised. Now, you can get your money back.”

“My brother, it is a lo-n-g story. This MMM thing has become a case of the more you hear, the less you understand. And to think I invested my children’s education savings. Everything.”

“What is the problem again? I hear you can get your money back, and MMM says they are ready to change the world.”

“I don’t know about changing the world, but let them change my sadness to joy by just returning my money, but now they say they can only pay a small amount per day and that those who invested big money like me should wait.”

“How much did you invest?”

“If I tell you the figure, you will know that the year is not new at all.”

“Tell me.”

“So you can go and tell your wife and your wife can tell my wife and the three of you can tell everybody. I just pray MMM does not mess me up, otherwise all of you won’t have anything to gossip about when you start looking for a casket.”

“Is it that bad? Please don’t let it get to that stage. But I can assure you, if they mess you up, I will sue the hell out of them. I will get lawyers and sue them to court.”

“You will defend my rights after I am dead? Now, I see you are a very good friend indeed.”

“I am just trying to help. I almost invested in the MMM myself.”

“Let me ask you something. What is a bitcoin?”

“Not too sure.”

“MMM says they will pay with bitcoins. I invested with Naira. They say they will pay me with coins, not with dollars, but coins. Ore mi, gba mi. Se kinni yi o ti fe di one chance bayi? And yet they are saying they want to change my world. Government should intervene and monitor the whole thing.”

“I won’t consider MMM the business of government.”

“Everything that has to do with the welfare of a citizen is the business of government.”

“If you decide to go and invest your money with money-doublers, why should government be bothered?”

“Government cannot allow anybody to spread frustration in any form. MMM should give me my money, not coins.”

“By the way, we should find out what a bitcoin is? We learn everyday.”

“I didn’t invest for research purposes. I invested for profit purposes.”

“But suppose the bitcoin is even better than the Naira. Somebody told me that bitcoin is a cryptocurrency, although he didn’t quite explain.”

“Ha. I am in trouble. So, I now have to carry dictionary over this MMM matter. Even a crypto something is now better than the Naira. God, pity your servants!”

“Just calm down. We have enough people dying everyday. Don’t join the list. I am sure everything will be sorted out. While you are killing yourself over MMM, are you aware that some Nigerians are already investing in another Ponzi scheme?”

“What is that one?”

“It is called Swissgolden. They offer gold or cash profit.”

“I don’t want to hear about it. And you say government should not get involved? We are almost becoming a nation of desperate money-doublers.”

“Government should worry about more serious things, except of course someone sets out to commit a crime.”

“Nothing can be more serious.”

“Like the Southern Kaduna killings, for example”

“That is sad. Ethnic and religious violence has been a source of threat to Nigeria’s corporate existence. We need to build a nation first.”

“The Catholic Church says the casualty figure in Southern Kaduna so far is about 808. Over 1, 422 houses, 16 churches, 19 shops and one primary school have been destroyed. The challenge is how to prevent these things.”

“Too much politics in everything and that is why ordinary things become big things and so much tragedy is invited. Government must be pro-active.”

“That’s like saying nothing. I have heard that cliché too many times. The root of our national crisis is much deeper. Oftentimes the people themselves are the problem.”

“I hear in the Niger Delta, the people are also threatening to resume hostilities, shut down oil installations and destroy NDDC projects.”

“It is not the people. It is the Niger Delta Avengers (NDA) with their ‘Operation Walls of Jericho’ and the Niger Delta Revolutionary Crusaders (NDRC). Vice President Yemi Osinbajo has led a delegation to go and talk to them, particularly the Pan-Niger Delta Forum (PANDEF). I think the resort to dialogue is wise.”

“I’ll like to see that too in Southern Kaduna, coming from the highest levels and I like the fact that the Federal Government is talking to the Bring Back our Girls Group and that for once they are willing to listen. Before May 2015, that group never wanted to listen to government. Now they are in Sambisa Forest.”

“I call it the BBOG Journey to the Sambisa Forest of a Thousand Daemons. When you go to a forest like that, you will have stories to tell.”

“I like the strategy. Get the protesters to help government sell its own story. Quite clever.”

“What if the strategy back-fires?”

“Oh, come on. It won’t.”

“You are always cynical. Thank God you are not in Tanzania where media cynicism of any sort is now a crime.”

“Under President John Magufuli, the bulldozer? Everyone has been praising him for fighting corruption and administrative opaqueness.”

“Magufuli is now bulldozing the media and free speech. Just the other day, he threatened Tanzanian journalists. According to him: ‘We will not allow Tanzania to be a dumping yard for inciting content. This will not happen under my administration”

“What?”

“They now have in Tanzania, The Media Services Act of 2016 which gives government officials the powers to shut down media houses and seize their printing machines.”

“That is even worse that that Nigerian Decree. Decree… Decree….”

“It is not from my mouth you will hear that one. Just be careful. Magufuli’s position is that journalists provoked him with their inciting content.”

“What is it with our leaders in Africa? In other words, Magufuli is saying he is a constituted authority.”

“Not a…he is the constituted authority.”

“One of these days, he too will just say, “Bring that boy here…Leave him…Who do you think you are talking to…I am the constituted authority.”

“You are quoting someone else now, not Magufuli.”

“African leaders sound alike when it comes to the use and abuse of power. You are right, I am quoting the Governor of Oyo State, Nigeria, Governor Abiola Ajimobi. Students of Ladoke Akintola University of Technology (LAUTECH) provoked him. They had the temerity to remind him that their school had been shut down for eight months. The Governor was so irritated, he sounded as if the students were disturbing him.

“The students were rude. Nigerian students don’t respect constituted authority. They don’t know how to address power.”

“Which authority? Is that why they should be tongue-lashed and shot at by the police?”

“I know the Governor. One of the students must have said something nasty to him. I got that much from his daughter’s alleged reaction.”

“Who is that?”

“The Governor’s daughter defending her dad.”

“What does she know about a university being shut down for eight months and students having to stay at home because government is suffering from a disease called lack of funds. This democracy sha.”

“Don’t worry yourself. It is not an African thing. In the United States, the President-elect’s daughter is going to be very powerful in his in-coming government. Her husband, Jared Kushner is already warming up to play a major role, and his only qualification for the job according to the father-in-law is that he is a good lad and a natural talent”

“That Donald Trump. He should stop disturbing everyone with his reckless comments.”

“I pray he doesn’t cause a Third World War.”

“With the way he has been provoking China.”

“Everything is under negotiation including One China”, says Trump.

“Nobody can negotiate that,” says China.

“And Trump picks up his phone and makes a long-distance call to the President of Taiwan, and China says that is a terrible insult”

“Trump definitely thinks his trip to the White House is one of his ‘You’re fired’ episodes. He is busy burning bridges.”

“Meanwhile, in Nicaragua…”

“What’s happening in Nicaragua?”

“The President has just been sworn in for a third term in office, with his wife as his Vice-President! A husband and wife Presidency”

“You think that can happen in Nigeria?”

“You are not aware that in some states in Nigeria, family members are the ones who run the government?”

“Which state?”

“Go and find out for yourself?”

“So, how is our friend, Jim Obazee of the Financial Reporting Council (FRCN)?

“He broke the law”

“He was trying to enforce the law”

“He broke the law of the Psalms. Psalm 105: 15 – “do not touch my anointed ones/And do my prophets no harm.” He wanted to use a Governance Code to force men of God to observe term limits.”

“You are missing the point.”

“And to think he would start implementing the Code from his own church, where he is a pastor, with Daddy G.O. of the Redeemed Church. So he means charity begins at home.”

“You don’t get it. Are you recommending nepotism? The whole point of the Code is that when religious groups become business entities, they must pay taxes and respect corporate governance rules.”

“Nigeria is a secular state. Government should not dabble into religious matters.”

“But government can dabble into the matter of El-Zakzaky and his movement. I beg.”

“The Bible says…”

“Yes, I know what the Bible says. Don’t bother.”

“We should pray for the people of Gambia and the President-elect Adama Barrow who is supposed to be inaugurated as President on January 19. Yahya Jammeh is still insisting he will not step down. The people are already fleeing the country, Ministers and other government appointees have resigned, the whole world is angry, but Jammeh is sitting tight.

“You know something?”

“What?”

“In the midst of all this, while Adama Barrow is in exile in Senegal waiting for January 19, his eight-year old son was bitten by a dog last Sunday. He was rushed to the hospital. The boy died.

“Oh. Oh, Africa.”