Nigerians were herded into a panic mode on Tuesday following the message from the ponzi scheme freezing all confirmed Mavros, otherwise known as money due for withdrawal for one month.
This means, all the accounts of members who are due to be paid after having ‘provided help’ (PH) to another person since the last month have been frozen and hence, have no access to request for payment, known as ‘Get Help’ (GH) until after one month.
All members woke up with the shock message displayed on the screen as soon as they logged into their accounts. Giving reasons for freezing the Mavros, the scheme said it is experiencing heavy workload and want to deal with the attacks coming from the country’s mass media.
It also said it wants to prevent hitches in the coming new year hence, the freezing of the access to requesting for payments even when such person is due for payment. MMM freezing notice
The message read thus: “One-Month Freezing of Confirmed Mavros” “Dear members!” “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
“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.
“We hope for your understanding, Administration” Panic quarters and Lamentations: In a whatsapp group, MMM Nexus Solution, members of the ponzi scheme, many who are Guilders, have launched their displeasure over the new development. Many have lamented that they don’t know how to communicate the development to their downliners
They also argued that this decision of the scheme’s management will trigger the downfall of the scheme. They said most people will hence, be skeptical in staking their money while a good number of them said such decision is selfish and would have been better if it was conveyed to members before now.
The Economic and Financial Commission, EFCC threw itself in the raging confrontation between proponents of the controversial money deposit scheme, MMM, and those who have remained sceptical since it was introduced in the country several months ago.
After months of expectations and occasional hoaxes of its crash, the promoters of MMM announced Tuesday that they were suspending payments to participants, for now.
The announcement sparked online uproar Tuesday morning, and the EFCC was immediately dragged into it.
The EFCC also asked Nigerians to “protect” themselves “not patronise wonder banks.”
“If it looks or sounds too good to be true, it almost always is.
“Respect your hard work and be content. Please stay away from quick return schemes. Please,” the agency said.
MMM allows Nigerians to sign up and pledge a monetary donation to people who are in need of it. The pledge is made with a guarantee of 30 per cent appreciation fee that is essentially an interest on the specific amount donated.
The MMM’s crash came two days after its founder, Sergey Mavrodi, wrote to President Muhammad Buhari, tackling him for allegedly trying to shut down a business that supports more than three million Nigerians.