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Read MMM Founder Sergey Mavrodi’s Open letter to “Nigerian Authorities”

BellaNaija.com

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20161211_193957MMM Founder, Sergey Mavrodi has allegedly written an open letter to the Federal Government of Nigeria explaining the benefits of the scheme.

The letter was displayed on the page of all participants of the Scheme.

Recall the the Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN) had warned Nigerians against participating in the scheme which it described as a “Ponzi Scheme”.

The House of Representatives in October also ordered an investigation into the operation of the scheme.

According to the letter, Mavrodi implored the government to look at the benefits of the scheme rather than be against it without knowing how it was helping Nigerians.

He insisted that if the government was really interested in the welfare of the Nigerian participant, then the scheme should be left alone arguing that MMM was helping the over 3 million Nigerian participants.

Read below the full script of the letter:

Open Letter from Sergey Mavrodi to the Nigerian Authorities

Honorable authorities,

So far MMM has come under a constant attack from you. In this regard, I would like to ask you a few simple questions. Since you are concerned with the interests of millions of your fellow citizens, I hope that  you would be so kind to answer them.

  1. What are you trying to get? Do you want the MMM System to collapse and millions of people to suffer? Who will support them then if now MMM is their only means of livelihood? Will you? You even don’t pay wages to people? Or might you not care about them? Might you be using a trendy topic to make a good name for yourselves? What will you say to a mother who will have no money to buy food for her child? Will you let her child die for the sake of the higher interests of the economy?
  2. You say that MMM is a scam. What is the scam here, if all members are warned in advance about all the risks, the possible and impossible ones? They know there are no investments at all. The warning is a red text on a yellow background placed on most prominent place of the website.
  3. You say that MMM is bad. Why? Yes, it produces nothing, but nothing gets out of the country either. The money is just redistributed among the citizens of Nigeria. It gets from those who are richer to poorer ones, in this way restoring social justice. What”s wrong with that?
  4. You have repeatedly stated that “it should be investigated!.. researched!..” It means you know nothing about this System yet; you even haven’t understood how it works………
  5. And finally. If you know what is right for people, why is the life so bad in the country?

Sincerely yours,

Sergey Mavrodi

P.S. As for your statement that “everything will collapse soon”. The system has been working in Nigeria for a year, and according to your estimates, the total number of members now is  about 3 million people. In Nigeria the population is approximately 195 million. Can you calculate? Will it be “soon”? :-))

50 Comments

  1. bee

    December 11, 2016 at 7:53 pm

    I think one of those guiders wrote this. lol

  2. A Real Nigerian

    December 11, 2016 at 7:53 pm

    “You even don’t pay wages to people? Or might you not care about them? Might you be using a trendy topic to make a good name for yourselves?”

    “And finally. If you know what is right for people, why is the life so bad in the country?”
    HAHAHA HAHAHA HAHAHA HAHAHA! Shots fired.
    Brutal.
    Savage.
    I dont support MMM but damn, this guy just owned the Nigerian government.

    • Neo

      December 12, 2016 at 8:42 am

      I’m telling u. He slayed like “watch me whip; watch me nene”???

  3. Mr. Egghead

    December 11, 2016 at 7:55 pm

    Clearly, English is not Mr. Mavrodi’s first language.

    • Fast cars

      December 11, 2016 at 8:36 pm

      Yes English is not his first language. He is Russian

    • Delta geh

      December 11, 2016 at 10:14 pm

      I cannot even give my money to someone who cant write proper english or better still give someone to edit if his english is bad. The former already disqualifies him. Does MMM work in Russia?

    • Neo

      December 12, 2016 at 8:48 am

      Wow.. Really, u are so funny. Yet you rush to buy Chinese products made by people who neither speak English. Receive some sense. English is not ur mother tongue… Don’t claim ownership

    • Long live mmm Nigeria

      December 12, 2016 at 9:43 am

      Be there castigating somebody’s english while he touches lives! Your money doesn’t go to him, it goes to a fellow Nigerians. MMM is real, it has paid me many times. Infact i’m getting paid one more time on Thursday!

    • egrf

      December 12, 2016 at 11:40 am

      wakeup and stop claiming ownership of what is not yours…how many english u fit speak? yeye

    • wisdom

      December 12, 2016 at 3:55 pm

      Nawah o… so people giving money are giving it to Mavrodi? Chai! People and their no-knowledge of stuffs and yet they castigate and judge. Watch ur own English too…hmmmm.

    • Yinka

      December 13, 2016 at 6:22 pm

      If as it were it’s helping millions of downthrodding Nigerians who cares about big or correct grammer?Can you communicate in Russian language?
      I’m sure these Nigerian officials who claim to be watching the back of Nigerians are bitter about it all because they have not been paid homage to in terms of monies exchanging hands,else they would have been lauding the scheme.
      They simply are gladdened to see millions wallowing in penury while they keep percolating and plundering our common wealth!

    • anonymous

      December 12, 2016 at 5:46 pm

      Well it’s not but I did not have any problems reading or understanding it not sure that would be same result if a Scottish man were to write an article in Igbo language!! Glad all you picked up was his grammar, you my dear is nigeria’s problem #ColonisedMuch

    • Yinka

      December 13, 2016 at 6:24 pm

      Thumbs up?

  4. Bodunade

    December 11, 2016 at 8:40 pm

    To all the amazing people I met here in 2016, Tosin, Sola and Tomisin. I love you guys.

  5. Bright

    December 11, 2016 at 8:54 pm

    I don’t know why FG is stroking their heads on MMM.. The sh*t is cool n legit

  6. lotusflower

    December 11, 2016 at 9:05 pm

    All I had to read was the second sentence, “Do you want the MMM System to collapse and millions of people to suffer?” to know that this was written by a Nigerian and not Sergey Mavrodi.

    I hear this type of question all the time from Nigerians…. It is a standard question; simply replace a few of the words with the “thing” you are questioning lol.

    • wisdom

      December 12, 2016 at 3:57 pm

      Many of us just need to grow up… tooohhhh

    • Moyzz

      December 12, 2016 at 10:25 pm

      Lotus baby!!!

  7. Leave MMM alone

    December 11, 2016 at 9:22 pm

    MMM is been helping millions of people lately, especially in the wake of Nigeria’s economic crisis, retrenchment and all… haven been in Nigeria for two weeks now, and experienced first hand, how some families are with no food, husbands out of jobs and kids thrown out of school because their parents can’t afford to pay fees, I suggest the federal government looks into making MMM a legal scheme because, if the system crashes, the crime rate will be nothing like Nigeria has ever experienced…

    • Caramel chic

      December 12, 2016 at 11:20 am

      Go and do your research and see all the countries that have shut down this scheme. They start odd weell then when authorites found out the long term effects. It was shut down and widely televised as something to be avoided There are no legislations that will protect the high number of MMM participators that will loose out by being involved. So pathetic that anyone can just enter into Nigeria and do what they like. No legislation or complaints bodies in place to protect the average citizen. No licence needed. This is why this scheme works in Nigeria. The average citizen is desperate they don’t no where their next wages are coming from. Or whether market will sell or not. The poverty is clear as day to the average Nigerian. The recruiters for MMM go directly to the people at the grassroots. That’s how they recruit. So sad.

    • wisdom

      December 12, 2016 at 4:02 pm

      Average people you say. That means u aren’t an average person. You know hands are not equal and just because you are privileged and have grace from God, you don’t know what others are going through. Just because u have it easy and maybe u are a politician and u have access to all dese money alone. Come to think of it, masses are suffering and some pple are living large with their wages. This isn’t too fair ofcos. This is an opportunity, why kicking against it? Why castigating? Nawah oo.

    • Yinka

      December 13, 2016 at 6:29 pm

      This is what you get when government becomes irresponsible and non-responsive.Nigerians have become as desperate as trying anything to survive especially when not criminal.
      Put your house in order NIGERIA!

  8. hnok

    December 11, 2016 at 9:24 pm

    MMM is a silly investment scheme. Its like a pyramid financial game that has no lasting feasible or legitimate investment pattern. Once the pyramid get to its maturity/declining stage, it will definitely fail/burst and many will cry hell while few will gain but will be disappointed with the system. For example, Once you place in #100,000 with the aim of earning a huge percentage interest, the system will link you with several number of people ( with the same aim) and your percentage interest payment will be coming from the people linked with you. This pattern will keep growing…. Beside, MMM should not be compared with Naijabet or with any legitimate banking system. MMM in Nigeria will likely crash soon and they will move to another region/country. No country will never approve this kind of investment scheme, that is why they operate in the dark.

    • wisdom

      December 12, 2016 at 4:09 pm

      People like you, even I Jesus is sharing money, you will still castigate him and question him why is he sharing to everyone, because the rich never ever want the poor to get rich like them. People of nowadays, they climb the ladder to the top and when they gets to the top, they go along with the ladder. Little wonder when God created man, he regretted. I salute all of una selfish people. Let it crash, atleast it shouldn bother you. U were less concerned about people’s welfare whil the poverty was high, why are u now angry that things are getting clearer for dem. Let them face it alone. Why getting bothered? Human being sha. Lemme guess, u are very rich, let’s leave these people to make a life too. So they can be like us. Peace out

    • tomi

      December 12, 2016 at 5:55 pm

      did i hear dat banks dont fail? they fail too…i know of several banks that have dissolved. and then again, bank dont give interest like mmm. infact bankers are the biggest thieves they even steal from your savings..

    • Yinka

      December 13, 2016 at 6:31 pm

      ?

  9. john

    December 11, 2016 at 9:24 pm

    “And finally. If you know what is right for people, why is the life so bad in the country?”……………..CHECKMATE

  10. mike

    December 11, 2016 at 9:43 pm

    if FG want mmm to go or collapas what has been their provision to the life if Nigerias just like he questions, “what will happen to a woman who does not have money to buy food for her child” should the child die when only the source of the woman like hood depend on mmm what will she do, please we are not living in a capitalists country so if FG can not contribute to the life if Nigeria positively the shouldn’t add to their problems

    • Yinka

      December 13, 2016 at 6:32 pm

      ?

  11. Mama

    December 11, 2016 at 9:47 pm

    I only had to read the first few sentences to know this letter was written by a Nigerian, possibly one of the MMM admin. There’s no convincing me otherwise. This bunch are funny, they’re gonna learn the hard way.

  12. Nahum

    December 11, 2016 at 10:17 pm

    This letter was written by a Nigerian and definitely not the founder of MMM. The tone of the language is very “Nigerian”, playing on sentiments without making strong arguments. Another example why I call this a scam.

    • wisdom

      December 12, 2016 at 4:11 pm

      Worefa….u shld be less concerned cos e no concern you. Leave d poor too to get rich like us. Stop the beef and do if u wan do. Shikena

  13. BB

    December 11, 2016 at 10:36 pm

    Hmm, with this shallow write-up, anyone who does business with these guys, does so at his/her peril

  14. Moyo

    December 11, 2016 at 11:02 pm

    Mmm is not the safest thing to invest in, I think people know that, but the desperation in this country is real. Will it crash, most likely; because it depends on the greater fool theory. As long as somebody is trusting/daring enough to give their money to a stranger in the hope that some other stranger(s) will reimburse and increase that amount, mmm can function (there are other factors e.g what if too many people join and the invested amount is not proportionate, etc.) But at some point someone will be scared and then supply might not always be equal to demand. In the meantime let everyone do what they want with their money.
    Any how if you are a law student in law sch please drop by
    https://123lawblog.wordpress.com/
    I’m serving some things you just might like, thanks

    • wisdom

      December 12, 2016 at 4:12 pm

      Mi your business

    • wisdom

      December 12, 2016 at 4:14 pm

      Mind your business I mean..lol

  15. guy boson

    December 11, 2016 at 11:26 pm

    MMM is perfectly safe. We cannot continue releasing words that it will fail… So many millions more are praying daily for its success and yes it is succeeding….

    • Caramel chic

      December 12, 2016 at 11:22 am

      Prayer doesn’t supply genie results.

  16. Ethio

    December 12, 2016 at 12:00 am

    If you have ever been scammed on MMM pls step forward and tell your tale. Immediately you login you’re reminded that you join with YOUR SPARE MONEY ONLY,so why cry on our behalves? Scam or not MMM shall live and thrive forever and ever amen!

    • wisdom

      December 12, 2016 at 4:14 pm

      Amen

  17. Moyo

    December 12, 2016 at 1:14 am

    “What is the scam here, if all members are warned in advance about all the risks, the possible and impossible ones?”
    What is an impossible risk, please?

  18. Idomagirl

    December 12, 2016 at 5:16 am

    A Nigerian obviously wrote this.

    • EE

      December 12, 2016 at 6:07 am

      A Real Nigerian?

    • Mama

      December 12, 2016 at 7:23 am

      No, but a desperate one….lol

  19. do your eye test today

    December 12, 2016 at 6:08 am

    This Scheme has been banned in so many countries and people have lost money. Do not even think about it!!!

  20. smashingnelly

    December 12, 2016 at 8:37 am

    I bet you most of these politicians have their millions in MMM. Hehehehehehe

  21. am

    December 12, 2016 at 10:20 am

    Mmm is like making contribution ( Ajo) with a large group of people and expecting ridiculous interest rate. It is impossible. But MMM investors have been convinced that one can get interest on money without work.
    MMM might not fail this year or the next, or even in three years time, but it will fail. The only people who will win are early investors. But since the investors are unsure on how long the scheme will run for they are might make or lose money.
    The sad part is the longer the scheme runs for, the larger the pool of victims. When it collapses the investors will not be able to blame the government or MMM.
    My advice if you must get involved with MMM only use your excess cash, so you don’t cry of you loss money

  22. Today

    December 12, 2016 at 11:40 am

    Please people advise anyone you know to stay away from this MMM Scheme. A house built with no foundation will eventually collapse and it is the poor and desperate that will suffer the most. The authorities need to pass laws to prohibit schemes like this from operating in Nigeria. I am happy the SEC spoke up but we need more action before more people fall into the trap.

  23. [email protected]

    December 12, 2016 at 2:31 pm

    Why not address the disease instead of the symptoms. Alot of nigerians are jobless and hungry. They feel as if they are in a trap. The economic situation is stifling people are raising money to do business from mmm. I for one am a graduate and jobless looking for money to rent a shop and start a trade. Then someone comes along with the mmm whatever, tell me why i wont invest when the little money with me cant pay the rent and buy goods but can surely grow with mmm.

  24. biko

    December 12, 2016 at 5:52 pm

    Leave us alone let make money from this scheme, have made a lot of money three and am still making, mmm pays n it won’t crash

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