WHY MMM Nigeria Crashed.
Few days after the Popular Financial Help Scheme, Mavrodi Mondial Moneybox, MMM Nigeria blocked Payments, a lot of Arguments has ensued as to explain this rather surprising measure. See why MMM Nigeria froze participants accounts below.
On Monday evening, Sergey Mavrodi, The Founder of MMM Global penned an open letter, with the title, “One-month freezing of confirmed Mavros,” (Read Here) where he informed subscribers of a pay freeze until January 13, 2017.
“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 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 – but!..it is better to avoid taking risk. Moreover, there are just three weeks left to the New Year.
“On the basis of the above mentioned, therefore, all confirmed Mavros will be frozen for a month…” a part of the letter read.
WHY MMM NIGERIA CRASHED
Yesterday, However, Chuddy, A Top Guider of MMM Nigeria took to his Page to share two factors that necessitated the freeze. See Below.
One was the strident opposition from the Federal Government and the mass media.
Secondly, Chudi claimed it was because there was “excess panic” in the system, hence the need to halt payments.
“The open letter explains why the one month freeze was implemented. It was to put the Nigerian government and MMM haters to shame. This isn’t the first of its kind. It happens when there are excess panic in the system. It was placed on Zimbabwe and, after the duration, it was lifted. As MMM freezes and goes offline few weeks before Christmas, this idea is brought forward to calm members down on (an) intending threat the federal government and (the) mass media has planned on the system.”
Meanwhile, Director of Development Finance Department of the Central Bank of Nigeria (CBN), Dr Mudashiru Olaitan, has advised those involved in MMM to be careful in finding means of multiplying their income.
He said this during a business leaders’ conference entitled: Prospering in a Recession, organised by EZ37 Solutions held at Kakanfo Inn Conference Centre, Ibadan.
Olaitan, who was represented by the Head of CBN Development Office, Ibadan, Mr. Banji Akinola, said there was no reason Nigerians should invest any scheme that can raise their blood pressure, especially at this period of economic recession.
MAVRODI’S OPEN LETTER TO FG
Just Last week, Sergey Mavrodi wrote an open letter to government to justify the importance of the scheme. He also warned government that Nigerians will lose millions if the scheme fails, noting that, “MMM is their only means of livelihood”.
He stated that the money being made from the scheme was being redistributed among Nigerians as a way of “restoring social justice”.
He founded MMM in 1989 but then disappeared after he declared it bankrupt on December 22, 1997. He was on the run until his arrest in 2003.
MMM NIGERIA GUILDERS MEETING COMMUNIQUE
. . . Hope For MMM Nigeria Participants
An emergency meeting was held yesterday 14th of December, 2016 at 9:30am by MMM Nigeria Global to discuss stringent issues affecting the scheme.
The gathering came to an end around 2pm and the following conclusions were arrived at to ‘restructure’ the scheme which has been heavily suspected to be fraudulent.
SUMMARY OF MEETING HELD ON 14TH DECEMBER 2016 BY 9.30AM
1. Within that 1 month ‘Freeze’, Mavro continue growing.
2. The freeze periods may even be less than 1month but it all depends on programmers and how fast they can finish.
3. This year We will have a new model to help make this community sustainable in Nigeria.
4. We will post clarification with more details about the Frozen Mavro on everyone’s PO.
5. Some Mavro will be released b4 the 30 days release date probably in batches.
6. Next week we will implement change
of guider button on every participants PO.
7. New section in our Personal Office will be installed this week
8. PH and GH order dispatching has been stopped for a while. Meaning they arnt matching anyone for the meantime.
9. We will use this period to tackle other issues we have with support.
10. MMM Nigeria’s progress depends on u. Ur expectation determines the future. U determine what u want. You have to encourage yourselves and you downlines.