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Adédèjì Olówè: MMM Ponzi – There is Always a Mugu in Lagos

Adédèjì Olówè

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dreamstime_m_127073I was doing a random research of recent and stumbled on the current list of top websites in Nigeria (October 2016). The list is dominated by the usual names – Google, Yahoo, Facebook, Nairaland, Linda Ikeji and MMM Office.

Wait, what’s MMM Office?

It’s a Ponzi scheme, and it has its own Wikipedia page. MMM has taken Nigeria by storm; so much that some people are almost selling their cousins just to invest money there. The relevant authorities have, however, turned a blind eye… for now. The Guardian Newspaper recently wrote about it at and the comments from Nigerians would make you weep!

It’s amazing that 10 years after I wrote about Ponzi schemes in Nigeria, and that it would come back again. It actually did. Wait, does that make me a prophet? Of course I’m not. If I was, I wouldn’t be blogging, but flying my own private A380 around the world.

Deji, can you just concentrate? Focus!

10 years ago Nospecto ravaged Nigeria with promises of 106% return per annum. I remember quite a number of friends and colleagues (luckily no family members) piled in their salaries into the deal expecting a big payout because they knew someone who knew the cousin of the uncle of someone who got a payout.

I’m lost!

It got so bad that many account officers of a certain bank used their customers’ money to do kalokalo. The bank later perished, but it wasn’t because of this. I mean… but, who knows?

But that wasn’t even bad enough. Penny Wise came out with a scheme that blew my hat off! This is how it worked. You give them a paltry N2,500 for a slot and over a period of 9 weeks, the scheme will pay out a cumulative of N251,390. Effectively, you multiply any amount you put inside by 100 in 9 weeks. Interesting!

I blogged about it and someone even said I would die of poverty! The vitriol was so caustic! I didn’t die, I’m not poor either but he got scammed.

Anyway, like all pyramids go, the bubble burst and the schemes went tits up.

It’s 2016 and MMM is the new King of Ponzi. Everyone is on it.

Everybody knows my stand on Ponzi schemes – if you do it, I cut off all ties with you. I have absolutely no apologies. Before you get your guns and take potshots, these are the two reasons for my stance:

You sincerely believe that the MMM Ponzi Scheme is real
It means you lack an analytical brain and would walk right into an oncoming truck believing it’s Lego. I know some Ponzi schemes may appear legit and you need investment banking grade knowledge to unravel it. That’s understandable and if the illegality is explained to you, at least, you can comprehend and run for dear life. However, if you earnestly believe that MMM stands for something legit and logical, then you are probably not smart enough to be trusted with anything important.

You know that MMM is a Ponzi, but want to take advantage
Ponzi is as illegal as they come. Well, not as illegal as shooting someone, or doing some of the things Donald Trump joked about. To take advantage of illegality just for the money means you are greedy, desperate and can do anything for money.

You are probably not someone I can trust with anything important.

I don’t run a business, but I know that if a staff of mine does MMM, he’s on his way out.

I can bet my next month salary that the MMM Ponzi will collapse soon – either from its own weight or when the Central Bank moves in, like they did 10 years ago.

See you in 2026
Well, I would be back in 10 years’ time to talk about the next Ponzi scheme. There will always be a Mugu in Lagos.

Addendum
I wrote the following articles 10 years ago. I didn’t have anyone to help proof-read then, so be careful of the grammatical errors – don’t read aloud as you could choke. NOSPETCO: A Classic Ponzi Scheme | Pennywise HYIB: The king of Absurdity

Photo Credit: Heidi Dp | Dreamstime.com

Adédèjì Olówè is too ashamed to call himself a geek. Despite two degrees in hardcore engineering, he’s spent all his life as a banker. He’s known as one of the best out there in data and analytics. He’s spent the last five years as an expert in FinTech where he’s making electronic payments simple, safe and available to all and sundry irrespective of where they are. Although an ardent believer in customer service, he thinks the dude who invented the telephone should be in the deepest part of hell and those who invented emails should be canonized. He also blogs at www.dejiolowe.com.

64 Comments

  1. Hmmm

    October 28, 2016 at 11:52 am

    Please tell them ooo.. There’s nothing free in free town

  2. ceejay

    October 28, 2016 at 12:09 pm

    The only part I saw, is firing any staff who does the scheme.(na your money) its simple logic everyone knows its a scam, they want use it to hit a financial target and stop, others are natural gamblers and don’t care, while some see it a business venture. in all, they want to scam the scammer but for how long can they?

  3. Onyie

    October 28, 2016 at 12:41 pm

    You want to know why ponzi schemes are successful in Nigeria? Greed…poor old greed. I mean seriously how can you believe that its possible to get a 30% return from an investment in just 30days?! What are they investing the money in biko?

    The fascinating thing about this is the way people are defending this mmm thing. Even well educated people who should know better. I give this till December or 1st quarter of next year to collapse and i hope you my dear friend who just put in 70% of your life savings (you know yourself) don’t lose too much money when it does collapse.

    • MMM LOVER

      October 28, 2016 at 2:19 pm

      See this monkey ooo. ?

  4. ....

    October 28, 2016 at 12:50 pm

    Adedeji, thank you!, just thank you!

  5. mmm is real

    October 28, 2016 at 12:50 pm

    you all be shouting i just cashed out…… shey its my money leff me alone…. high risk high return

  6. Chuka

    October 28, 2016 at 1:16 pm

    Nigerians are known to be very greedy since the beginning of time. If the MMM was bringing so much money, nobody would know about it. It is not that there are not businesses that can provide good returns but at least everyone knows about them. My cousin just dropped N1M into this business and I hope the cost of this lesson would not be too much for him. His wife made him do it. Women and their trouble.

  7. jay

    October 28, 2016 at 1:26 pm

    Enjoy it while it last! Risk is a way of life.

  8. MMM LOVER

    October 28, 2016 at 1:54 pm

    BN SINCE WEY I DEY OPEN UR SITE U DON PAY ME ONE NAIRA???? MMM IS REAL…. IF U DON’T WANT TO LOOSE SITE TRAFFIC BETTER MIND YA BUSINESS…. MMM BEEN PAYING ME SINCE INCEPTION…..

  9. MMM pays

    October 28, 2016 at 1:59 pm

    mmm pays whether you all think you have brains more than the participants or not it your business. MMM had changed my life recession or not am still good on cash. Be wise and change your life, be positive first of all so you understand how the system works and stop HATING! MMM NIGERIA ROCKS MMM PAYS

  10. Femi

    October 28, 2016 at 2:02 pm

    You guys should continue to wait till da kingdom come for MMM to crash. While am busy PHing and GHing.

  11. Shamoos

    October 28, 2016 at 2:08 pm

    Since you are looking for publicity.. Let me help you. MMM Nigeria never claimed to be an investment scheme. It is stated clearly that it’s a peer-to-peer mutual funding community and also they informed them that it’s risky and there is no guarantee. It’s not a company. Please do your home work well

  12. Ayomide

    October 28, 2016 at 2:10 pm

    It is our money not yours, I joined MMM in march I can tell you my story has change I spend money as if my father owns CBN. I just bought a car of my own. Y not write about sport bet. NSE is an organised scam. Sec and the rest. God bless MMM

    • Jaynie

      October 29, 2016 at 12:26 am

      God bless you miss, dey forgot abt naira bet,fools den looking for cheap fame

  13. Jite

    October 28, 2016 at 2:29 pm

    Adedeji…nothing lasts forever u knw. Even banks liquidate, and u don’t need a soothsayer to knw dt. The principles of banking are pretty much the same as MMM. “Servicing of debts” thru growing membership. A typical example is The IMF controls the central banks, who in return control their local banks. That’s PONZI cuz the banks gat no money of their own…yet they mk ridiculous charges off their customers to mk some money off their own.

    I was like you once….defending the world against PONZIs….however wen i looked at the working mechanism and the mathematical model it works with, I took a different stance. We know there are many HYIPs out there…but u need to have a healthy track record.

    MMM however u’stand the lil details involved in mutual funding and decentralization of account was the key. Principles and rules have been put in place to keep the system self sustainable. The aim is to improve the saving culture of participants and improve the lives of those who cannot get loans to develop ideas into fruition…..nobody is coerced into joining MMM,

    I am a bit disappointed by ur logic…to write about PONZIs is one thing, however writing about MMM when u lack the knowledge clearly of how it works and the policies put in place to protect its members from the greedy world govts, the media bunch and blogging community (Kudos to those bloggers who do their research before raising dust)….

    READ ABOUT THE MMM RULES AND WHAT IS PRACTISED…MMM is in 138 countries and won all court cases ever since it decentralized accounts and made it a peer to peer system. Ever heard of the PAUSE MODE EFFECT????? I doubt u know what that means….its MMM’s way of preventing a melt down should the media run wild with unfound stories like yours.

    DO NOT BE MISTAKEN ABOUT THIS…..you are no prophet. You are just a lazy blogger who has refused to learn about the simplest of ideologies and the man in question ” SERGEI MAVRODI”… his fights to break the unfair financial system governed by the world’s greedy governments. He got arrested and the people clamoured for his release relentlessly….after 4.5yrs, he still preached the same thing. Most interesting part is he isn’t even a beneficiary of the platform. He is selfless and tired of seeing people suffer the way they do…and promoted an active fight that cannot be stopped by any government since the courts ruled in his favour.

    Your corrupt leaders do worse. Your blog should be exposing them. Perhaps u like the easy way out. BE INVESTIGATIVE before LETTING OUT facts u know nothing about. Its in 138 countries and has been running effectively since 2011….

    • Jarret

      October 28, 2016 at 6:34 pm

      The above comments shook me to the core. Nigerians re a really gullible and greedy bunch.

      Anybody falling for this Bullshit will eventually be a victim of their own greed and Laziness.

      MMM is a naked ponzi scheme. If you can’t see thru it, then u are plain dumb. If you can, and you still put your money in and go further to recruit people in, then You re a Criminal who deserves jail time.

      MMM doesn’t create anything of value. It only transfers wealth. And a scheme that only transfers money and not create it can’t be sustainable for very long. As soon as no new members stop coming in, the whole scheme falls apart like a House of Cards.

      The Only persons Who get rich out of this re the 1% of members I.e those who started it and those who got in earliest. The rest of the 99% re doomed. Don’t put ur life savings or money u can’t live without in MMM! You re guaranteed to lose it, and be emotionally and financially broken.

      I agree with the Blogger.anyone who tries to talk me into MMM or any other Ponzi/pyramid scheme is Out of my life for good. I can’t trust such a human ever.

      This things Is Bullshit And I have used the Brain between my ears to see it for what it is: Fraud!!!

  14. cara

    October 28, 2016 at 2:31 pm

    Lol, mmm is actually just fun for me.
    I remember earlier this year, my parents tenants paid the rent; over 700k, I received it but whether my parents weren’t on good terms with the tenants me I don’t know, plus they’re uber religious so maybe they thought the money was tainted so they didn’t collect it. Wetin consign me? I put the money into this mmm thing and in a month, voila! I had over a million sitting on my lap. I sha haven’t done it again since then.
    I think you just have to be smart about things like this and know when to stop.

  15. Emmanuel

    October 28, 2016 at 2:32 pm

    I speak strongly against the stock market but I will never dissociate from anyone who invests in the stock market. This writer’s goal is not to educate the public but to insult and bully people who share a different opinion with him. My uncle died from heart arrest when the stock market crashed. His widow is a strong member of mmm. Who am I to judge her? She is not stealing or hurting anyone.

  16. Tutu

    October 28, 2016 at 2:34 pm

    People said more than all of you. We’ll be here when it happens and MMM crashes and I hope Ayodeji writes an I Told You So post.

  17. Kolawole

    October 28, 2016 at 2:36 pm

    FACT ABOUT MMM NIGERIA THAT NOBODY WANTS YOU TO KNOW

    MMM Russia has a dark untold history, it is easy to assume that the darkness was created by the founder(s) of MMM; however a deeper search reveals that there is a grand conspiracy that attempts to eliminate MMM and every other idea that tries to democratize luck.

    MMM was conceived twenty seven years ago, for close to three decades, MMM’s failures have always been perpetrated by a class of people – the ruling class. I sought to understand why anyone will want to close down a community which claims to connect its participants to each other so that they can help each other.

    Over the years, the answer has changed. In the 1990s, the popular answer was the founders kept all participants’ money and they could run with the money since government doesn’t monitor them. The early 2000s had a different answer; the popular opinion was the money was kept by guiders (participants who attend MMM school so that they can become leaders). There was fear that the guiders could run away with the money. The 2010s has a new answer, the answer is unclear. There is no logic to the answer. The answer is simple yet complex. The MMM critics of the 2010s believe even though MMM doesn’t collect money from its participants, MMM is still a scam. In the 2010s, MMM participants pay money to each other’s bank account. The money is in the bank, safe and secure. Or is there something deeper. Read on…

    How and why did participants lose money in the 1990s? Russian government came one day with seventeen black vans to take all the billions of people’s monies with MMM (monies were kept in their head office) and they arrested its founder for tax invasion (not fraud). This happened in the presence of MMM participants, little wonder, the same MMM participated voted in millions to ensure MMM’s founder becomes a member of the Russian parliament. Mr Sergey Mavrodi’s (founder of MMM) victory at the polls was his ticket out of jail. Why did the story end badly for some participants? It is reported that some committed suicide because their money was taken. This was not them reacting to the man who was trying to make them financially free in a communist Russia, it was them reacting to a government that took all their monies away.

    The major source of news about MMM is Wikipedia. Wikipedia’s founder is a wanted man in the United States of America and so many countries, he is in hiding; He unapologetically published personal mails allegedly hacked by Russia to influence an American election. Wikipedia has destroyed a lot of lives with its half truths and one sided stories. I find it hard to believe that we will trust Wikipedia without listening to the other party.

    The prevalent question in my mind is why is the ruling class using its weapon (power, media and money) portraying MMM as a scam since MMM doesn’t collect money from its participants. It is like saying Facebook Inc. is a scam. Facebook cannot scam you (as a user) because facebook doesn’t collect money from you. You sign up for free. In the same light, participants sign up to MMM for free. MMM simply connects the participants to each other. The question is why? Zuckerberg was connecting us to old friends when he didn’t even know how Facebook will make profit, why? He said he wanted to create a more open and connected world. Mavrodi also claims he wants to create a fairer world, a fairer financial system.

    We agree that MMM has never collected money from its participants since 1994, so why is it regarded as a scam. Critics say the system is not sustainable and at some point, it will crash. They say at some point, there will not be enough people to “provide help (an MMM term meaning donate money)” to those who want to “Get Help (an MMM term meaning receive money)”. To receive money, you must have previously donated or referred someone to join the community.

    After reviewing their point, I believe what critics mean to say is; MMM is not a scam but MMM is not sustainable. At this point, there is no way MMM can use any fraudulent way to collect money from its participants, therefore I can say MMM is not a scam. If MMM opened a bank account, it would be frozen so there is no chance. MMM is not a scam but is MMM sustainable?
    One thing I have learnt from the critics of MMM is their method of proving they are right. Their method is similar to what I saw in a movie. A lady wanted to proof her brother’s wife was a thief, so the lady stole an item and kept it in her brother’s wife purse. I began to wonder who the thief is. The World Bank and a lot of global organizations claim their goal is to reduce global extreme poverty yet they pay a lot of lip service to the pursuit of this noble goal.

    They neglect the ideas that can truly reduce poverty and spend more time pursuing the policies of their sponsors (big global banks and individuals). Most critics of MMM will share untrue stories about MMM (like the MMM crash in Lagos or Zimbabwe) and do anything (it is amazing) to ensure the crash they had predicted eventually happens. They remind me of the woman in the movie. It is a dirty fight and I think MMM participants are not doing enough to share the light of what MMM is doing for them.
    We have come to a conclusion that MMM is not a scam but we haven’t agreed it is sustainable. To understand its sustainability or un-sustainability, let’s do the scam test. If MMM fails today, who wins? No one wins emotionally but those who have gotten help win financially and those who have provided help lose financially. The MMM brand becomes worse and its founders will be cursed. So its founders don’t gain financially. It is some participants that gain financially and some participants lose financially. When I understood this truth, I stopped calling MMM a scam. I then wondered why Mr Sergey Mavrodi will keep punishing himself, his name, risking jail term or worse for a system that is not sustainable.

    I wanted to understand his mind so I read his books (available on amazon), articles, saw his movie about MMM 94 (self sponsored by Mr Mavrodi with major actors from Russia and Hollywood. Available for free on Youtube and MMM website). I discovered he had one goal and I put it simply; Mr Sergey Mavrodi’s goal is to “democratize luck”. Henry Ford wanted to democratize cars and ensure it is affordable so that every hardworking person can buy one. Tony Elumelu wanted to institutionalize luck so he created The Tony Elumelu Foundation giving no-strings attached grants to 10,000 entrepreneurs within 10years. So many other people have big dreams such as this, to eliminate global poverty. Mr Sergey Mavrodi wants people to work not because they need money but because they enjoy the job, this way our school teachers by destiny won’t end up as bankers because of money – working hard at a job they hate. If money wasn’t king, people will do jobs they love and do it will the spirit of excellence. If Michael Jackson grew up in Nigeria, we would have ended up in ajegunle struggling. America doesn’t need Sergey’s MMM because they have their own version and the live their version, popularly called the American Dream. This dream helped Bill Gates sit down in meetings with IBM executives, get a loan of $1millions and more. In Africa and other third world nations, there is no dream for the people. There is pain, tears and sorrow. The big question is will this amazing dream of Mavrodi work with the MMM system?

    The only way to know is to ask what the system itself is. It is participants donating money to each other and getting 30% reward. It is based on the principle that we don’t all need money at the same time. To understand it better, let us assume there are five people in MMM, Mr A, B, C, D and E. Mr A donates 10, 000 to Mr E (who has previously donated) Mr E uses the money to settle an urgent bill. Mr B donates to Mr A. Mr C donates to Mr B. Mr D donates to Mr C. Mr E gets his salary of 100,000, pledges to donate 15,000 and donates it to Mr D. Money is just moving round to settle debts, bills and create new value. The population the banks will never look at have found a new way to get the money they need without having to collect any loans. If they continue using their bank accounts, the banks will keep winning because of the fast movement of money leads to more bank charges. No new money is created so inflation is not created. No excess money will be in the economy. In essence, everyone wins.

    The system can be sustained if everyone comes together to make it work. The banking system will fail if we all withdraw our money at the same time (bank run). Insurance companies will die if all but one person refuses to pay premiums; they will be unable to pay the person in case of any accident or loss.

    MMM is good for Africa, it doesn’t compete with the banks because banks already do not loan money to the majority. The loans go to the 10% who have collateral which is good for banking. With MMM more people will open bank accounts (since MMM participants relate with their bank account) and banks will reach the unbanked. We need to get more Nigerians into the banking system. MMM has also helped banks promote their online and USSD banking platforms. MMM has helped entrepreneurs source for money for their ideas within a realistic time. MMM has inspired participants to spend more in a recession. This is keeping a lot of big and small businesses afloat. If you see anyone buying cars, houses or valuables in today’s Nigeria, they are probably involved in businesses where they earn in foreign currencies, extremely rich or engaged in … you guessed right – MMM.

    This is good for everyone. The stock market can bounce back on the MMM wave as people become more confident to diversify. Nigerians are in positive spirit because of MMM. People who couldn’t pay school fees paid with ease. People eat better and live better. Over one million Nigerians engaged in MMM have positive story to tell.

    After my research, I asked myself. Would I be the lady who wanted to proof her sister in-law is a thief so she stole and kept it in her sister in-laws bag or will I be the person who will find out if truly her sister-in-law is a thief and when I find her innocent, declare her to be innocent. My choice is clear.

    I asked a member of the ruling class who instructed his human resource unit to send a mail warning all members of staff not to participate in MMM why he is anti-MMM. He said if they continue with MMM, one day, the might resign and see no need to work. I said really? So because you are a multi-millionaire, your kids won’t work? He then voiced his real concern. They will be financially free and won’t take his excesses anymore since they can start their own business or resign and not suffer while they search for a better working environment.

    Written by Kolawole

    • Deji

      January 13, 2017 at 8:01 am

      Hmm… Interesting. Would like to discuss further with you on this

  18. MMM Nigeria, not a Ponzi

    October 28, 2016 at 2:40 pm

    The last I check on Adedeji, neither you nor your articles placed a meal on my table. Alright, MMM is ponzi? Thanks, for now, I am fine with it. At least setting up a business and operating with spare money isn’t so bad as to determine the weight of regret when your prophetic declaration of the fall of MMM the next time when you pay out salaries, comes. Thank God for your life.

    MMM is not an investment scheme, even though many participants have failed to understand and consequently pumped in all their money in order to get a high yield, there making people like you think or feel MMM is an investment programme. It is clearly stated, and only few have taken the advise of spare money principle as a powerful element of giving. Give what you would not regret about.

    Now, on whether MMM is a Ponzi for real or not, I have this to say, MMM IS NOT A PONZI. It does not operate basically like the ones you mentioned above.

    Trust me, MMM Nigeria will not fall. It is a well thought out plan, an ideology so powerful! I bet the push for its fall. The worst is a restart! And then we continue, then the world would understand better.

    MMM Nigeria, together we can transform Nigeria!

  19. EBUNOLUWA

    October 28, 2016 at 2:44 pm

    My question about this MMM is where do they get the 30% return they paid out when they don’t charge 30% interest. It simply means that the return of 30% is paid out of capital.

  20. Nne

    October 28, 2016 at 2:45 pm

    I don’t understand again o.
    Someone will be taking paracetamol for another person’s headache..
    MMM has changed my LIFE..
    MMM never said its an investment,.
    Just donate your SPARE cash ..
    And it’s not by force to join sef?

  21. Toluwalope

    October 28, 2016 at 2:50 pm

    Mr. Jeepers Creepers, we’ll be waiting for you

  22. Emmanuel

    October 28, 2016 at 3:04 pm

    What makes something a scam? The fact that it crashes? Then banks that have crashed and the stock market are scams.

    This mmm people are donating money to each other. Crime rate in my area has reduced. Leave people and their money alone.

    Haba! We should be more concerned about the scams that our government, analysts and regulators endorse

  23. Ezekiel

    October 28, 2016 at 4:02 pm

    I thought you should’ve been more constructive in your article with relevant facts rather than basing your argument on just your own thought.

    You should have taken more time to investigate and observe how mmm works before rushing to your blog to tag mmm an ‘investment’. Why did you not write about Nigerians that have lost fortune in the capital market if you care so much about Nigerians?

    You should have investigated to know how this program is helping hundreds and thousands of poor Nigerians pay children school fees, put food on the table, startup their dream business, pay hospital bill to mention but a few….

    I know you bloggers are looking for cheap traffic but is not everything you come up here to write about. If you want to write, why not;

    Write about how millions of graduates are languishing in hunger with no job.

    Write about thousands of employees that are sacked by companies every month.

    Write about continuous rise in the prizes of commodity.

    Write about the high inflation and collapsed economic framework in Nigeria

    Write about poor infrastructure in Nigeria

    Write about massive extorsion by telecom and banks in Nigeria

    Write about Nigerians that lost fortune in the capital market (my sister lost 500k in the year 2000 or so buying share)

    Unfortunately, you missed the whole point about MMM and how it works. For your information, there is no central account; It is Nigerians paying Nigerians with their spare money and not life savings as you speculate. The good part is that no one is mandated to donate anyway.

    What I will not do right now is to abuse you but mind you MMM is changing lives daily…!

    #signedout!

  24. Shuga

    October 28, 2016 at 4:09 pm

    How come no one has ever bothers about several banks that liquidated and caused people heartbreak? If people want to be MMM participants, let them be. It’s that simple! The money is theirs and they’ll bear the consequences IF it crashes. Thank you as you learn to mind your business.

  25. joenocare

    October 28, 2016 at 4:10 pm

    Man You just said everything that i have been telling my friends, I can’t put in any better way. its simple if you are legitimately ignorant that MMM is a Ponzi Scheme then you are just plain dumb but if you are aware it a Ponzi scheme and still participate then you are a Criminal that the should Jail when this Scheme wrecks People cos it would and no it won’t take 10 years. Again even while you are trying to educate people from the comments you can see them refusing to receive sense (bangs head on desk). This is Exactly why our country is in this state right now. “Everybody dey do am, why me sef no go do am” mentality.

    • lexxy

      October 29, 2016 at 12:47 am

      Oga u are misinformed

  26. kris

    October 28, 2016 at 4:57 pm

    Mmm is fraud!!!!,and people are still getting paid better join d band wagon and leave your blogging.mmm rules

  27. JARRET

    October 28, 2016 at 5:54 pm

    The above comments shook me to the core. Nigerians re a really gullible and greedy bunch.

    Anybody falling for this Bullshit will eventually be a victim of their own greed and Laziness.

    MMM is a naked ponzi scheme. If you can’t see thru it, then u are plain dumb. If you can, and you still put your money in and go further to recruit people in, then You re a Criminal who deserves jail time.

    MMM doesn’t create anything of value. It only transfers wealth. And a scheme that only transfers money and not create it can’t be sustainable for very long. As soon as no new members stop coming in, the whole scheme falls apart like a House of Cards.

    The Only persons Who get rich out of this re the 1% of members I.e those who started it and those who got in earliest. The rest of the 99% re doomed. Don’t put ur life savings or money u can’t live without in MMM! You re guaranteed to lose it, and be emotionally and financially broken.

    I agree with the Blogger.anyone who tries to talk me into MMM or any other Ponzi/pyramid scheme is Out of my life for good. I can’t trust such a human ever.

    This things Is Bullshit And I have used the Brain between my ears to see it for what it is: Fraud!!!

  28. Kc

    October 28, 2016 at 5:58 pm

    You bloggers care about traffic, bad news about mmm makes you happy but let’s watch and see how it unfolds

  29. Justin Church

    October 28, 2016 at 6:02 pm

    MMM …IS reaL.. i invested 5M A month ago and I had a return of 6.5M… It’s real, for now though…WHAT TO DO!!!, BUHARI wan finish us….. men dey use MMM take dey follow up na

  30. NG

    October 28, 2016 at 6:03 pm

    The same set of people here celebrating criminality and comparing mmm pay out of 30% per month to bank lending at 30% per annum for business ventures, without answering the question of what mmm invests in to be able to pay 30% per month, are the same people that get to shout political nonsense and vote in incompetent leaders because their reasoning is from somewhere else other than the brain.

    Scary that these are the people probably in the majority in this country and who will continue to afflict the minority with their political choices as we are currently facing.

    • Emmanuel

      October 28, 2016 at 7:58 pm

      So I visited their website to understand how mmm works and found out they donate money to each other’s bank account. This is a template that will be adopted in the future by big banks. Everyone said bitcoin is a scam until it proved otherwise. Now big banks are mining their own coins. From what I got, they operate on the principle of “we can’t all need money at the same time”. No smell of scam, its sustainability depends on the loyalty of its participants.

    • Mo

      October 28, 2016 at 8:45 pm

      Sad truth!!

  31. [email protected]

    October 28, 2016 at 7:46 pm

    Everything in life is a risk.ask d dangote, bill gates, thump, tinubu. Buhari, linda ikeji, wizkid, dantata, robert kiyosaki they will tell u the same thing. If u are not making mistakes u are not making decisions.

    • Kokoro Dudu

      October 29, 2016 at 7:06 am

      Rich Dad Poor Dad was a fraud..

  32. [email protected]

    October 28, 2016 at 7:57 pm

    Everything in life is a risk.ask dangote, bill gates, trump, buhari, linda ikeji, wizkid, dantata, robert kiyosaki. They will tell u the same thing. If u are not making mistakes u are not making decisions.

  33. [email protected]

    October 28, 2016 at 8:08 pm

    Everything in life is a risk.ask dangote, bill gates, trump, buhari, linda ikeji, wizkid, dantata, robert kiyosaki. They will tell u the same thing if u ask them. If u are not making mistakes u are not making decisions.

  34. Onyebuchi

    October 28, 2016 at 9:21 pm

    before you write any thing’s try to no the detail’s because MMM is not what you think the more you dream or prophesy MMM the more this community (MMM) are Growing so keep on writing but I will advice you to tests and see

    • Staying Anonymous for this one

      November 10, 2016 at 12:42 am

      It’s “know the details….” not “no the detail’s….”
      I like that your comment is short which should have made you come off as deep, but for the grammatical and structure errors alone, I am sure you don’t “no” this MMM “ideology” either

      #gofigure

  35. [email protected]

    October 28, 2016 at 10:28 pm

    If u wait for everything to be in place u will never invest. Life is a risk why drive a car when u can get involved in an accident? Why take a plane when it might crash? Why go on the boat ride when u might drown?why start a business when u might make losses?

    • Kokoro Dudu

      October 29, 2016 at 7:07 am

      Why not touch a live wire since there may not be electricity in it?

    • Shame

      October 29, 2016 at 7:42 am

      Dumb response. There are checks put into place to regulate and protect people from the senseless loss of life and money, which is why govt and monitoring bodies exist. MMM has no regulation, no one it reports to and is not accountable for its behaviour handling other’s money. It helps to know the meaning of Ponzi.

  36. Paul

    October 28, 2016 at 11:15 pm

    How much Profit do we gain from all these Stupid Banks of Ours…Transferring money from my Zenith account to Another Account, they always charge for their so called “Forfeiture Decrease Interest” I have never heard that in my life. Saying it is because I do transfer a lot. In a nutshell, Nothing concern people about the 30% Increment. All we know is that It works and a lot of People I know…has already Built their Houses, Sent their kids to school with this MMM of a thing..so If it crash, they’d already gained their Money. So go to hell and Stop discouraging people especially in this time of Recession.

  37. lexxy

    October 29, 2016 at 12:43 am

    adedeji or WTF u call ua sef, try to write meaningful shyt on this ua shitty site, since wey we dey enter ur site hw much have you paid??, don’t mislead people with your foolish write up..if Mmm wan crash Mek en crash it’s none of your damn business, I’ve done 100k twice and I got my money back with interest, so if you wish Mmm bad luck to crash na your site go crash then followed by you the owner. do you know hw many people Mmm has helped in this sorry-state nation of ours(recession)??…you think you can wake up one morning and put up a shitty post to confuse people that wants to be confused…you better shut the fuck up!!…how will your so called CBN clamp Mmm down??, it has no bank account, you pay directly to a fellow member or will they go to Russia and arrest mavrodi??…am sick of fools making shitty comments about Mmm. If you don’t want to put your money leave people that want the fuck alone!!! if Mmm crash one day so be it!!! nothing lasts forever not even you . shitty Africans with their 15 century brain!!

    • lexxy

      October 29, 2016 at 5:39 am

      shitty Africans with their 15th century brain

  38. Exotique

    October 29, 2016 at 10:27 am

    @Kolawole: you wrote a lengthy discourse but failed to answer one question: where is the 30% increase sourced from? If it is just about helping and receiving help then it’s wonderful and should even be encouraged. The fact that no one has been able to answer that makes it suspect.

    • Netizen

      October 29, 2016 at 10:10 pm

      If only you would go to their website and read. The bonus comes from new members signing up. Is that do hard to understand? The other 30% comes from others providing the help you are requesting for. If you put in 20,000 expecting 26,000, someone else is putting in 26,000 expecting 33, 800 and so on and so forth.

  39. Boateng

    October 29, 2016 at 11:59 am

    Dis guy wey write dis post fit dey do MMM For back ooooo… Na so dem dey do

  40. DaMan

    October 29, 2016 at 12:57 pm

    So many people have negative opinions about the MMM thingy. Funny.

    The people getting involved are getting paid steady.

  41. Citep

    October 29, 2016 at 7:33 pm

    I must confess it’s really exciting to read your post, you put a lot of comedy into it.

    I can tell you 2 things I know;

    1. MMM has touched many lives insomuch that even though it eventually collapse sergi will still gain forgiveness.

    2. It’s a better alternative to starvation and robbery.

    FOR THOSE BRAVE ENOUGH TO PUT THEIR MONEY IN PLATFORMS LIKE MMM; here is another opportunity: gethelpworldwide.com/?ref_id=3129-Prince_Cite

  42. Chinedu Ibeh

    October 29, 2016 at 10:37 pm

    See your arrogance & delusion, who cares whether you trust him- for your mind, you are such an important person.

  43. Ben

    October 30, 2016 at 12:37 am

    If u notice a worker in ur business does mmm know he is thinking of quiting already. Cos you pay him peanut. You sound like those kind of boss that cant encourage his team. I doubt u pay minimum wage and you call ppl scammers. Let he who is holy cast the first stone only God will judge u for this stone. Think about ur self if u are so spotless write another post.

  44. John

    October 30, 2016 at 8:01 pm

    The guy betting his salary, how do we get your money when MMM doesn’t crash.? MMM got me out of debt, paid my rent, paid school fees etc when I thought the world was crashing on me. I prayed for a way out and I was miraculously introduced to MMM. So did God answer my prayers or not?. That’s for you to judge. The site says use spare cash, it also says you are giving help. It also says to are giving a donation.. So leave us. God bless everyone who donated to save my life.

  45. meah

    October 31, 2016 at 2:43 pm

    I totally agree with Adedeji. I cant wait to see the end of this MMM ish.

  46. W Bee

    November 10, 2016 at 12:32 am

    Hehahhahhhaahaa…. “A word is enough….” You too dey talk job. People are making cool cash, cleaning out more than their salaries monthly and you want to pour san-san in their garri abi…?
    LOLOL

    Did I ever mention I love the way you write? *thumbsup

  47. W Bee

    November 10, 2016 at 12:44 am

    Hehahhahhhaahaa…. “A word is enough….” You too dey talk jor @Deji Olowe. People are making cool cash, cleaning out more than their salaries monthly and you want to pour san-san in their garri abi…?
    LOLOL

    Did I ever mention I love the way you write? *thumbsup

  48. Faith

    November 17, 2016 at 9:49 am

    MMM is not a scam, many people including me have benefited from it. Don’t let anybody tell you otherwise. If you want to know more about it send a mail to [email protected].

  49. Dazzle

    November 17, 2016 at 8:26 pm

    Several years ago I listened to mouthy seemingly intelligent bloggers like you who spoke great things about the stock market. I invested all my hard earned salaries and Sundary allowances from NYSC and kept away from quick money schemes. I had these monies in various banks and supposedly blue chip companies for up to 10 years. Today none of these stocks are worth anything why? Because the Nigerian stock market was actually a big scam. Left me and my father who had his life time investments in stock market a laughing stock. Then another over- sabi blogger was now telling us bullshit. The painful thing is that I worked for the people who milked oceanic bank dry and kept falsifying its real share worth. They are big real estate tycoons now laughing out the investors they impoverised. But I learnt my lesson and won’t be as stupid as to how listen to your type again. I have gone into Mmm and it paid off and is still paying well at least I can now boast of a new apartment, a car, a pice of land and able to care for my father who got a stroke as a result of the scam called Nigerian stock market all within a year! Thank God for Mmm and happy 1 year anniversary

    Together we change the world

  50. david

    December 24, 2016 at 11:25 pm

    Copy and paste u won’t stop disappointing your brain. Its only lazy heads that cant research on their own would be fooled bunches of lies.We all know that it s only lies that most bloggers sells in Nigeria. Go and finger ur self to stupor. Frustrated blogger.

  51. Sayo

    March 22, 2018 at 1:53 pm

    18 months on, what became of MMM?

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