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MMM EFCC investigating popular Ponzi scheme

EFCC spokesman, Wilson Uwujaren, also spoke on the House of Representatives order to shut down the scheme.

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Ibrahim Magu play

EFCC boss, Ibrahim Magu

(flairng)

The Economic and Financial Crimes Commission (EFCC) is investigating the Mavrodi Mondial Movement (MMM) investment scheme, its spokesperson has said.

EFCC spokesman, Wilson Uwujaren, also spoke on the House of Representatives order to shut down the scheme.

“We can only arrest people based on the evidence that we have. The House made a resolution but the resolution is a public announcement,” Uwujaren told Daily Post.

“We have always been advising people not to patronize wonder banks because experience over time has shown that their activities are not sustainable.

“If you get involved in it, you will eventually get hurt. What we are currently doing is to sensitize people. We know people want to make quick money as a result of recession through this MMM.

“The unfortunate thing about this MMM is that it is not a Nigerian firm but we are looking at and we will still tell the media whatever we find out,” Uwujaren added.

ALSO READThe dark history of MMM

The Central Bank of Nigeria (CBN) had earlier warned Nigerians not to participate in the scheme.

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