Ponzi scheme yet to pay Nigerians after return

The Cable claims that investors of MMM have not yet been paid as their accounts are still frozen. Kolade Ogunwande who spoke to the online news site said he invested N100,000 in November 2016, and also referred two people to the Ponzi scheme.

On Friday, January 13, 2017, his N100,000 had appreciated to N214,000. When he placed a request to withdraw his money he was not paid.

“They have not paid me anything, but, they said we should be wait patiently to be matched with participants willing to invest in MMM. I have no choice than to be optimistic,” Ogunwande told The Cable.

A woman named Lara Makanjuola also invested N100,000 in MMM Nigeria and is also facing the same problem of getting her money out.

According to her, anytime she requests for help, the website says "Mavros are not available for withdrawal.I was supposed to collect my money two days to when accounts got frozen, but, the person I was matched with didn’t pay.”

A couple based in Abuja told The Cable that they have invested over N2m and can't access their money.

Frustrated participants who want to remove their money keep seeing this message on the MMM site. “As usual, in the New Year season the System is experiencing heavy workload. Moreover, it has to deal with the constant frenzy provoked by the authorities in the mass media. The things are still going well; the participants feel calm; everyone gets paid – as you can see, there haven’t been any payment delays or other problems yet – but!.. it is better to avoid taking risk.: (Moreover, there are almost three weeks left to the New Year).

"Hence, on the basis of the above mentioned, from now on all confirmed Mavro will be frozen for a month. The reason for this measure is evident. We need to prevent any problems during the New Year season, and then, when everything calms down, this measure will be cancelled.”

In a recent poll by Pulse Nigeria, 40% of Nigerians said they will invest a lot of money in MMM Nigeria.

The Ponzi scheme came back on Friday, January 13, 2017, a day earlier than scheduled. Now a majority of Nigerians who took the Pulse poll say they now trust MMM.

According to the result of the poll, 17% of Nigerians will also invest but not with a lot of money. 3.9% said they will never invest again and another 3.9% are unsure if they will.