No fewer than 2 million Nigerians have invested in this money doubling scheme and have benefitted from its 30% return on interest. MMM needs no introduction, it is one of the most popular Ponzi schemes in Nigeria.
Nigerians were enjoying free money until on December 13, 2016, MMM Nigeria froze all confirmed Mavros, promising to resume after one month.
Managers of the scheme have disclosed that participants accounts will be unfrozen on January 14.
Ahead of the date for resumption, MMM guiders held a meeting today, January 11 and below is an update shared on the group’s Facebook page. Here are seven things that were discussed.
1. Guidelines for the new model would be published on participants’ personal office (PO) before Sunday on the news section. This will explain how the new model works.
2. From Saturday January 14, participants would be able to GH (get help), PH (provide help) and GH match would resume. So if you requested to provide help, make your money available as people will get orders to make payment.
3. Task would be announced on your personal office before Sunday via the new model.
4. Mavro would continue to grow on Tuesdays and Thursdays as it was before.
5. In the new model, GH would not exceed PH. GH must always correspond to PH.
6. Fake POP would be addressed by the new model which works far better.
7. Concerning the issue of whether one must PH before GH, you have to wait for the new model on your PO.
Ahead of January 14, MMM Nigeria announced that it will be introducing Bitcoin as a new form of payment. Before accounts of MMM participants were frozen, they were allowed to provide help in bitcoin, but they were paid back in naira. Bitcoin, the increasingly popular digital currency, was the best performing currency in 2016.
Also, members have been urged to start promoting the scheme ahead of January 14 comeback.