After January 13, 2017 return to Nigeria, many account holders in MMM Nigeria have revealed that they are still unable to get paid a return on their investment. MMM also released a new condition which says those with little investments are to be paid first before those who invested heavily.
Many are being optimistic about the return as promised by MMM, while others think as a ponzi scheme, MMM has truly crashed as participants are yet to have back their money weeks after their return.
Meanwhile, MMM’s top guider in Nigeria and first initiator of the ponzi scheme, Mr. Chuddy Ugorji has reportedly fled the country with his wife (Amaka) to Philippines with suggestions that he ran away because MMM might not be able to pay its millions of participants again.
Encomium Weekly spoke with some of those who lost their money in the Ponzi scheme. In the chat, they revealed they are yet to get back their money as promised but they have been merged with those who are supposed to pay them but they are not paid.
‘I just pray I get back my money even if…’ – WILLIAMS ALAJE
I invested N100,000 in November 2016, and referred two other people to the scheme. The last time I checked my money has appreciated to N214,000. I have requested for it but I have got nothing since January 13 when the Ponzi scheme came back.
I just pray I get back my money. Even if the 30 percent increase will not be added, let me just get back my N100,000.
‘They have not paid me anything’ – GBENGA GBADEGESIN
They have not paid me anything, but they said we should wait patiently to be matched with participants willing to invest in MMM. I have no choice than to be optimistic.
‘No one is paying us back our money” – AKINSANYA TEMILADE
I invested my life savings of N130,000 in the scheme. They promise us January 14 return but nothing has actually returned. Though we are able to call for help, the help isn’t coming. No one is paying us back our money. I really wish to get back my N130,000 even if the promised bonus will not be added.
The new condition says those with little investments are to be paid first before those who invested heavily. So, I hope the payment gets to me someday.
‘I will never do such thing again’ – ELIZABETH JAMES
I will never try any other ponzi scheme again. It was after MMM had crashed that I got to know the real meaning of a ponzi scheme. I lost a huge amount of money that I’m not ready to disclose to MMM. It was so painful because I could have used the money to establish another business.
I doubt if I will have my money back anyway. But if I do, I won’t invest again.
‘Only the lazy and jobless will still have hope of getting back their money’ – SAMSON SHODIYA
It’s obvious MMM has finally crashed because no sane human being will provide help after all the challenges old investors have faced. Only the lazy and jobless peeps will still have hope of getting back their money. All MMM do now is give one excuse or the other. I am also an investor but I have got back my money before the Ponzi scheme crashed last December.
‘I regret investing in MMM but it’s a very big lesson to Nigerians’ – CHRIS UGBONA
MMM has not paid a dime to anyone. They have actually crashed in this country. People lost a whole lot of money in the Ponzi scheme including myself. I invested N150,000 in the scheme last year November and I’m yet to get a dime till date.
I regret investing in MMM but it’s a very big lesson to Nigerians to stay away from Ponzi schemes.
‘We lost a lot of money to the Ponzi scheme’ – OVO UDOH
I can’t still believe MMM has crashed after all they promised participants. A friend referred me to the scheme last year and I have also referred many of my friends. We lost a lot of money to the Ponzi scheme. I personally invested N80,000 before the scheme crashed. Now there is no hope of getting back my money.
‘This should be a great lesson for the participants’ – GBADE OLAWALE
Commenting about the failure of MMM in Nigeria doesn’t really matter to me but the greed in some of us who participated in this scheme should be a great lesson for all. I was suppose to use the money I invested to another propose but I invested it in MMM now my money is gone and I still have to save another money for the purpose which I should I have achieved in the past. It’s so sad anyway.
LIST OF PONZI SCHEMES THAT OPERATE IN NIGERIA
- Helping Refolution
- Ultimate Cycler
- NNN Nigeria
- Paid Rocket
- OLUWAFEMI SOEWU