MMM has continued to attract many Nigerians as its popularity soars. [MUST READ]
Despite Security Exchange Commission and Central Bank of Nigeria’s warning that Nigerians should steer clear of the Mavrodi Mundial Movement (MMM) scheme, the number of subscribers has continued to climb and the scheme has become the current number one investment for many Nigerians in recent times. The scheme pays over 30 percent on investment to subscribers in one month while giving them numerous bonuses for bringing in new investments. This of course looks like the ‘wonder banks’ of the 90s that crashed with billions of Naira belonging to investors disappearing with them. Yet Nigerians continue to put their fate in MMM. It is now even being preached in some churches as a good source of investment. A look into the scheme has revealed the reason why the scheme is working and why people are very much attracted to it. It also uncovers flaws and reasons why it may crash. The Mavrodi Mundial Movement was instituted in Russia in 2011 by a mathematician and statistician named Sergey...