New Ponzi Scheme, NNN, Emerges After MMM's Temporal Closure.
Posted On 21/12/2016
Despite the panic and pain some Nigerians are experiencing over the freezing of the operation of the Ponzi scheme, popular Mavrodi Mondial Movement (MMM), another scheme enticing people with mouth-watering profits has emerged and appears to be drawing fresh victims into its fold.
The new platform, which calls itself NNN, is similar in scope and operations with MMM. On its website, just like MMM, NNN also warns its prospective participants telling them it is not a bank but simply a platform of helping participants to connect needy people. “NNN is not a bank, NNN does not collect your money, NNN is not an online business, HYIP, investment or MLM programme. NNN is a community where people help each other. NNN gives you a technical platform which helps millions of participants worldwide to connect those who NEED help to those who are ready to PROVIDE help, for FREE,” it said on its website. To attract people, the scheme is promising returns higher than the MMM, which has now reportedly taken its operations to Ghana and Kenya. Apart from offering returns as high as 35 per cent in three weeks, it also claims subscribers could earn as much as 50 per cent, claiming that some subscribers were already participating in the scheme and making money. Though it could be a ploy to attract people into its fold as the MMM did, the scheme posted video clips of some individuals who claimed to have benefited and are still participating in the scheme. For instance, some participants said in the clips: “I am Kehinde Olajide by name. I joined NNN on 11th November, 2016 and I provided help of N30,000. Today 2nd December, 2016 I seek help of N45,000 which waa split among two donors. In fact, I was amazed when I saw the alert. God help NNN! NNN shall never crashed (sic). “Thanks to every participant. requested for help, less than 24 hours after I was matched and received payment immediately. NNN is the best. I donated N10,000 less than three weeks I was given N13,507.” “My name is Ameh Audu. I donated N30,000 and was paid N45,000 from three participants, each paid, N2500, N35,500 and N7,500 respectively (sic). Sunday Tribune could not get official reaction to the new scheme, which appears to be trying hard to fill the vacuum of MMM frozen operations. But only on Friday, in Kaduna, Mr Umaru Ibrahim of the Nigerian Deposit Insurance Corporation (NDIC) still warned Nigerians to be wary of such money-doubling schemes without official guarantees or indemnity. According to him, such schemes with no known investment portfolios and platforms could only end in disaster for participants just as the over three million Nigerians who were said to have invested millions of Naira in MMM and whose fate now hangs in the balance.