MMM mek plenty people cry and die, as dem loss plenty money, after CBN warn Naija people about am.
Managing Director for Nigerian Deposit Insurance Corporation (NDIC), wey be Umaru Ibrahim, don yarn say, data wey dem gather for social media, don show say, na about three million Nigerians loss like N18 billion to Ponzi scheme, wey we dey call, Mavrodi Mundial Movement(MMM)
Umaru Yarn this one through the Deputy Director Corporate Affairs for NDIC, Hadi Suleiman, inside one 38th Kaduna International Trade Fair, wey dey shelle for Kaduna today.
Umaru still yarn say, after all the warning, wey Central Bank of Nigeria, tell Naija people, dem still chuck head inside the matter, wey concern the ponzis like, Bitcoin, Ripples, Monero, Litecoin,Dogecoin, Onecoin con loss all their money.
Read wetin im yarn..
"The Phonzi scheme is the phenomenon of illegal fund managers,popularly called "Wonder Banks" which have continued to defraud unsuspecting members of the public of their hard earned money. This phenomenon has been a source for concern because despite our repeated warnings over the years, some members of the public have continued to fall victims of their fraudulent practices.
We would like to reiterate the fact that these fund managers are illegal as they are neither licences by the CBN to take deposits from members of the public not are those who patronise them covered by the NDIC deposit insurance scheme. I want to also draw the attention of some cooperative society which often go beyond their primary mandate by accepting contributions from members as cooperative societies are only recognised to mobilise savings from their members. "
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