Tension As MMM Nigeria Freezes Participants Account, Will They Comeback?Panic has gripped millions of Nigerians as popular Ponzi scheme, MMM has frozen operations during the festive period for a month.
MMM Nigeria has shut down for a month due to what the operators call "heavy workload."
On the message board of the site, the operators said people won't be able to withdraw their money in December. This action was taken in order to avoid difficulties in the New Year.
With this latest development Nigerians have started expressing their fears on social media that MMM would crash.
The founder of the controversial Ponzi scheme, MMM, Sergey Mavrodi reportedly wrote an open letter to the Nigerian government.
In his letter titled 'Open Letter from Sergey Mavrodi to the Nigerian Authorities', the Ponzi scheme founder said MMM is meant to restore social justice as it redistributes wealth from rich Nigerians to poor Nigerians.
He asked the government why they want MMM to fail, and noted that the failure of the scheme would bring more hardship to Nigerians who are already suffering. He accused the Nigerian government of trying to look good by calling MMM a scam.