5 Reasons Why Govt Will Not Be Able To Stop MMM Nigeria

MMM is in no doubt one of the biggest investment that many Nigerians now do. There is no place in Nigeria that people will say that they have ever heard of the Ponzi scheme, MMM. The scheme has become the talk in town as it offers over 30% growth on investment per month.

MMM Nigeria is not an investment per say, but a social financial aid programme where participants help one another with their spare cash by form of donation. The programme requires participants to first Provide Help (PH) to someone before they can request to Get Help (GH).

But many negative controversies has trailed MMM since it was launched in Nigeria. Many people especially government and her agencies see MMM as a Ponzi scheme. 

The government through the Central Bank of Nigeria, CBN and Security and Exchange Commission, SEC has since warned Nigerians against the activities of MMM. And recently, the House of Representative also debated on the topic, directing Security agencies to go after MMM promoters.

But in the midst of all those controversies, the faithful participants of MMM Nigeria has remained resolute in their dealing with MMM. Nigerians who are severely bitten by recession has refused to yield to the government pressure calling for the shutdown of MMM. 

Many Nigerians has warned the government to steer clear from MMM. They insist that the money that they invest is their own money and therefore, government should not tell them what to do with their own hard earned money.

This faith from the part of participants has continued to see MMM Nigeria wax stronger day by day. The number of participants has continued to grow on daily basis as many people are now having confidence in the MMM ideology.

I have critically reviewed the Ponzi scheme and has come to conclude that it will be very difficult for the government to stop MMM programme in Nigeria because of the following reasons.

1. Server

MMM Nigeria is an internet website based programme. It is obvious that MMM server is not hosted in Nigeria. The Nigeria government will not be able to shutdown MMM website because the server in which the programme is being run is not hosted in Nigeria. It is believed that MMM Nigeria server is hosted in Russia which is the home country of its founder, Sergie Mavrodi.

2. Participants

Nigerians are very greedy people. Nobody will like to trade off MMM for any other thing in the world. The programme pays 30% of your investment per month. This makes it extremely difficult for Nigerians to quit from doing MMM.

3. Mode of Operation

MMM Nigeria works in such a way that participants make use of banks for their donations. While some people use mobile/online transfers, others pay cash directly into the beneficiary account via cash deposits. This makes it impossible for the government to identify the account holders who do MMM since nobody indicates MMM during the transaction.

4. Recession/Hardship 

Presently in Nigeria, recession is biting hard in every sector of the economy, resulting to severe hardship. Nigerians has now seen MMM as a means of making ends meet since the government can no longer provide for her citizens. Any move by government to shutdown MMM Nigeria will result to civic unrest as it will be resisted with mass protest.

5. Everybody is Involved 

Virtually 20% of Nigerians has now embraced MMM as a lucrative investment opportunity. Even the people in government have their family members, relatives and friends who are into MMM. Shutting g down the programme will affect virtually everybody. 

Thank you for finding time to read this article, let us know you own view on the topic.


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