Nigerians say no to CBN and yes to Ponzi scheme

In a live poll by

A total of 917 Nigerians voted for MMM while 147 Nigerians voted for the CBN.

"MMM has healed the wound of Nigerian wise citizens caused by Nigerian corrupt government... MMM is the best testimony after good health" wrote Ikem Azubike on Pulse Nigeria's Facebook page.

Chidiebere Ukagha was of a different opinion. "I support CBN am afraid MMM killing the future of Nigeria. because of MMM nothing like creativity. MMM shows how the level of lazy folks we have in our country Nigeria."

By the result of the poll, it is evident that Nigerians have lost faith in this administration and are relying on Ponzi schemes such as MMM Nigeria and Ultimate Cycler to survive.

In November, the Central Bank of Nigeria (CBN) finally issued a warning about the Ponzi scheme.

The head of the Consumer Protection Department of the CBN, Suleja Kassim warned Nigerians not to invest their hard earned money in the scheme during a mentoring program for students.

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"We have heard about the activities of MMM. I want to warn you against it because they are wonder banks that are not regulated. Desist from their activities because they are fraudulent" he stated.

MMM, which has been banned in China and Russia has seen Nigerians falling head over heels for it. On Sunday, October 30, 2016, MMM was advertised in a Redeemed Christian Church of God parish in Abuja.

MMM Nigeria, is a Ponzi scheme that originated in Russia that has now set up in Nigeria. Wikipedia says the company was involved in one of the biggest Ponzi schemes in the 1990s. It was estimated that thousands of people lost up to $10 billion dollars.