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Tag: MMM

  • MMM partners ISEE for women skills acquisition workshop

    MMM partners ISEE for women skills acquisition workshop

    Mavrodi Mondial Movement (MMM) in partnership with Initiative for Self Esteem Empowerment and Evaluation (ISEE) Inc.and Olajumoke Jide Foundation recently empowered indigent women in Lagos with the sum of N500,000 with a view to alleviating poverty.

    The three-day event which was held at Great Citizens School, Isashi Lagos attracted so many people. 
    In her remarks, the coordinator of ISEE, Mrs. Jide Ojo said: “Women and children account for two-thirds of the world’s population yet they are voiceless in the society and therefore vulnerable. They are often abused and intimidated.

    “That is the reason behind the programme; to empower the woman and make her take her rightful place at home and in the society as ordained by God. Money will be given to the Best 20 participants to start businesses after the training. Our areas of focus are Women and children especially teens.”

    Among others, skills acquired at the training programme included soaps making, making of disinfectants, insecticides and air freshener production. Others are making of confectionaries, head ties and bead making etc.

    Speaking, Amaka Benson, a representative of MMM said: “MMM Nigeria this year has stepped up activities in communities from the regular peer to peer donation /charity event to a monthly peer to peer donation and monthly charity events/empowerments in various states of the country.

    “Today we are happy to sponsor the Women Empowerment Skill organized by ISEE. Seeing the joy on the faces of these individuals as they acquire 14 skills in 3 days makes us happy and fulfilled as a community that is set to reduce poverty to its barest minimum.”

    For Mrs. Ayo Ogoru, a participant: “I already have my own business and I will apply the skills I have acquired today to my business. What I have learnt here is invaluable and I want to thank MMM and ISEE for this opportunity.”

    Another participant, Mr Chamberlain has this to say; “I feel very excited because this is so much I’m getting for free. It’s too good to be true. A brand new business idea.

    Being able to produce six different commonly sought for products in every home. It’s just the beginning of the new things that are already here. I can’t thank the organizers ISEE and sponsor “MMM”  enough for this rare opportunity. I am so grateful. God bless you.”

  • Lagos: MMM, Hope Givers empower pupils of FOA school

    Lagos: MMM, Hope Givers empower pupils of FOA school

    Mavrodi Mondial Movement (MMM), in conjunction with Hope Givers Humanitarian Services, an NGO, under an initiative tagged: Welcome Back To School empowered pupils of FOA Primary School 2, Okokomaiko, Lagos, recently when they donated bags and stationery to needy students.

    Speaking, an official of Hope Givers Saheed Tai said that the objective was all about empowering the kids so that they will have a sense of belonging which will translate into a better learning environment.

    Said the official: “My name is Saheed, I am a representative of Hope Givers, an NGO into humanitarian services. We are here today at FOA Primary School under a programme tagged: Welcome Back To School which is sponsored by MMM.

    RELATED: MMM rehabilitates school, donates food items, beds

    “A lot of the students here are in dire need of critical educational materials so the aim is to donate school bags, exercise books, sandals and stationary among other items to needy students so that they can have a sense of belonging. What we do is to identify areas people are in need and once we do that we contact corporate platforms for sponsorship.

    Officials of MMM pose with the headmistress of FOA Primary School Udensi

    “For this case, we contacted MMM for sponsorship since they are a humanitarian platform and they responded. We told them we had identified a school in our community that is in need hence we have provided all these for the betterment of the pupils today.”

    Addressing the students, MMM representative, Amaka Benson said that MMM is a charity platform that believes in empowering the needy, taking care of the sick and also runs skills acquisition centres: “Today we were brought here by Hope Givers Humanitarian Services and we are saying welcome back to school. Today you are going back home with brand new school bags, school sandals and stationary as MMM in conjunction with Hope Givers is welcoming you all back to school.

    “MMM is a charity platform and we are known for putting smiles on people’s faces. Carry on with your learning so that you can do better and strive to achieve your dreams because you are the leaders of tomorrow.”

    Responding, Mrs Udensi, Head Mistress of the school thanked the officials of MMM and Hope Givers. She said: “Thanks for remembering our children whose parents could not provide for them. May God bless you and replenish your pockets.”

  • Helpcolony.com Takes Over Nigeria After The Fallout of MMM

    Helpcolony.com Takes Over Nigeria After The Fallout of MMM

    A scheme know as Helpcolony is taking over Nigeria following the fallout of MMM, the little or no activity of MMM has created room for another scheme called Helpcolony to thrive as Nigerians are claiming that the new scheme has more checks and balances that makes it safe to partake in.

    Helpcolony promises participants 30% and 50% increase on investment after a month, the scheme boasts of being free of some deficiencies which plagued MMM, such as participants taking other members money without repledge (Hit and Run), uploading of fake prove of payment (POP) and the freezing of account. The scheme also enjoys constant inflow of cash as its rule mandates that participants make a pledge to provide help within three days of registration.

    Some participants of the scheme boost that Helpcolony would beat MMM to the number one spot soon because of its rules which ensure its sustainability.
    Aside the monthly interest increase participants also claim to make money from the platform via their 10% referral commission system.Another participant who claims to work in an oil company said he has been running accounts in Helpcolony and MMM simultaneously, he said Helpcolony scheme pays unlike MMM which is now dormant.

    A participants even compare Helpcolony with Banks when asked if he knows the risk involved,  he said:  “Which risk, there is no difference between these schemes and the Banks, they are all Ponzi schemes who take from one person to pay the other. Helpcolony is taking over and many Nigerians seems to be loving it, they claim it has all it takes to last forever due to it 10% Assurance pledge after sign up and also it recommitment rules.

    For those that are interested in getting 30% and 50% increase of their money in 30 days you can sign up on www.helpcolony.com  [1]
    Or join Helpcolony Telegram group https://t.me/joinchat/AAAAAEJf0tFSStumwDN4DA [2]

    Links:
    ——
    [1] http://helpcolony.com/?ref_id=felix
    [2] https://t.me/joinchat/AAAAAEJf0tFSStumwDN4DA

  • WHY I TITLED MY ALBUM MMM – MC GALAXY

    WHY I TITLED MY ALBUM MMM – MC GALAXY

    SEKEM singer MC Galaxy has said it is because he wants to encourage people that he titled his second studio album in three years as MMM, an acronym for Money Making Machine.

    “Everybody can make money,” he said.

    “All you just need is determination. All you need is a push.

    “Don’t underestimate yourself. I used to be a comedian, without charges and I used to dance for free too, but look at me now.”

    MMM is an afro-centric body of work with guest appearances including Swizz Beatz, Ghanaian rapper Sarkodie, Congolese singer Neza and Serge Beynaud from Côte D’ivoire

    With a professional singing career that started about three years ago, the Sekem singer crooner rose to fame after winning the Davido dance competition in 2012.

    Udeme Udofot, known as MC Galaxy, a singer and songwriter, released his first single, “Sekem” in 2014, under his label, MCG Entertainment, followed by a music video, which has garnered over 4 million views on Youtube.

  • MMM: Eight poly students defer studies

    Eight of the 36 students of the Federal Polytechnic, Bida (BIDA POLY) in Niger State, who lost their school fees to Mavrodi Ponzi Scheme, known as MMM, have deferred their studies after they could not pay their fees.

    The affected students lose a semester, because they could not meet up with a deadline given by the school for fee payment. They were unable to retrieve the money they invested in the scheme after it crashed in January.

    The students were advised to defer their studies till next session, when they are expected to pay for their fees for the semester.

    Based on the intervention of the Students’ Union Government (SUG), it was gathered that the affected students were invited by the management, after which the deadline for fee payment was extended for three weeks.

    Eight students could not pay the fee before the semester examination started last week. One of them, Gbenga Daniel, in National Diploma (ND) II Marketing, said he put his school fee into the Ponzi scheme last November, hoping to recoup his investment in January. He said his MMM account was frozen in December.

    He said: “Up till now, I cannot get back the money I invested into MMM. I was stopped from writing test, because I could not pay departmental fees. I decided to defer the semester, because I will not be allowed to write the first semester examinations since I have not paid my school fees.”

    Another victim, who did not want his name in print, said he deferred his studies because he could not get money to pay, after losing his MMM investment. He said his parents warned him about the scheme, noting that he could not go home to explain the development to his parents.

    It was gathered some students, who scaled through, sold their properties, including televisions, DVD and other electronic appliances to raise money for their school fees.

  • MMM rehabilitates school, donates food items, beds

    MMM rehabilitates school, donates food items, beds

    Mavrodi Mundial Movement (MMM), in conjunction with Life Changing Humanitarian Services last Saturday, paid a courtesy visit to Igbehinadun Special School for the Deaf & Dumb and physically Challenged Children, Okokomaiko, Lagos.
    During the visit, members of MMM and the foundation unveiled a rehabilitated playing ground, basketball court and also presented food items, beds and gifts.
    Speaking at the event, Amaka Benson, Offline Secretary & Events Manager for MMM Charity said: “We were brought here by Community Development Workers called Life Changing Humanitarian Services. They wrote a letter to us and we approved it to help them carry out some of their projects.
    “Today we are unveiling a new playground with swings for the children including a basketball court. This place was nothing to write home about, It had been abandoned and the kids had nowhere to play so we raised money to assist them. Basically, at MMM, we are out to put smiles on the faces of people and we do this every month across Nigeria,” Benson added.
    Also speaking, Mr O. Joseph of Life Changing Humanitarian Service said: ”Life Changing Carries out humanitarian services. We chose this school because we believe that Igbeyi Adun Special School needs help. They have been abandoned for years so we came in here to see what we can do for them. You need to see the condition of some of the children, it is very terrible.
    “We want to say a big thank you to MMM. We were shocked when they agreed to sponsor this project because many organisations turned us down.”
    Founder of the school, Mrs Victoria Cotonu disclosed that the school was founded in 1990 to cater to challenged kids: “After my training in America and the UK, I came back to Nigeria and founded this school. I realised that we have these children in our midst and we have to cater to them because they are part of society.
    “We used to have support from government, churches and individuals but since the recession, it has taken a down turn and this has affected us negatively. I appreciate what MMM has done through  Life Changing Humanitarian Services today. Only God can reward them. God will continue to bless guide and protect you and reward you abundantly.”
  • MMM: Two agents in Court for cheating

    MMM: Two agents in Court for cheating

    Two middle-aged persons, Debora Fojo and Musa Garba on Friday appeared before a Malumfashi Chief Magistrates’ Court in Katsina State for breach of trust and cheating.

    The two were accused of collecting N429, 000 to invest in an online business called MMM.

    Fojo and Garba are residents of Government Girls Secondary School Malumfashi Quarters and Unguwar Danyawa village in Kafur local government area respectively.

    According to the separate First Information Reports (FIR) read to the court, Fojo allegedly collected N229, 000 from one Sani Salisu of Unguwar Sodangi in Malumfashi to invest in the scheme.

    Garba, on the other hand collected N200, 000 from one Adamu Aliyu of Gangarawa also in Malumfashi to invest in MMM.

    The Police Prosecutor, Insp. Sani Ahmed, told the courts that the accused deceived the complainants with a promise that business would provide 30 percent returns within 30 days.

    He said that neither the original money nor the interest were returned to the complainants after the expiration of the agreed period.

    He said that the accused were charged with criminal breach of trust and cheating, offences that contravened sections 312 and 322 of the penal code laws.

    The two accused persons, however, pleaded not guilty to the charges.

    The Chief Magistrate, Lawal Usman adjourned Fojo’s case till April 11, while that of Garba was moved to April 18, for mention.

    He ordered that the two accused persons be remanded in prison custody.

     

  • Ponzi scheme: Twinkas makes wave among Nigerians in spite MMM failure

    Ponzi scheme: Twinkas makes wave among Nigerians in spite MMM failure

    In spite of the financial loss suffered by some Nigerians who participated in the failed Ponzi scheme, Mavrodi Mundial Moneybox (MMM) in 2016, Twinkas, a similar scheme is making wave among many Nigerians.

    Investigation by the News Agency of Nigeria (NAN) in Abuja showed that a large number of residents of the Federal Capital Territory (FCT) were willing to take chances with the trending scheme.

    Some of the residents, who spoke with NAN on Sunday, attributed their willingness to investment in the scheme to the present economic recession in Nigeria.

    According to them, the economic situation has encouraged many Nigerians to participate in money-doubling schemes such as Twinkas, in spite of the possible risks.

    The residents said the scheme provides them with 100 per cent interest on their investments.

    Valerie Dada, a civil servant, said that she was encouraged to participate in Twinkas, because salaries were delayed sometimes.

    “Salaries are sometimes delayed and I have bills to pay, so I decided to take some of my savings and invest in the scheme.

    “There are many schemes that arose after MMM, which is suspected to have crashed and these schemes have better packages and interest rates to attract people.

    “I am currently participating in Twinkas because it has proven to be reliable so far, with an interest of 100 per cent on all amounts of money invested.

    “That is a package I feel is worth the risk, so that I can afford to pay my bills,” she said.

    Mrs Teju Akindele, an accountant, said; “we know the risks of these programmes and we know how some people became suicidal after MMM failed, but we have all learned from that.

    “We know that we have to put in only the money we can afford to lose and not the money we have kept aside for something important.

    “It is important for Nigerians who are participating in these programmes or schemes to avoid becoming greedy.

    “They should ensure that they don’t get tempted to invest more than they can because the programme has proven to be successful.

    “I can’t blame anyone who is into this because the economy has not been too rosy in the last few months.”

    Similarly, Mr Kayode Olusemire, an entrepreneur said that he decided to partake in Twinkas and a number of other schemes to support his business.

    He, however, cautioned Nigerians not to invest huge amount of money as well as not to exceed a specific duration.

    “I took part in MMM scheme for a year and I lost some money at the end of the year.

    “I later learnt of other schemes that paid more money than MMM and I decided to take part in some of them, but I will make sure I don’t exceed six months in each scheme.

    “I believe Twinkas is making a reliable name for itself, so that they can attract more people into the scheme but I know it will fold up at some point in time.

    “Greed is what makes people depressed after these schemes fail and we all know that these schemes have an expiry date after a couple of years.

    “I also ensure that I invest only a certain amount of money and reinvest the profit made, that way, I wouldn’t feel depressed if the scheme crashes.

    “The money I have gotten from these schemes has been beneficial to the survival of my business in this economy.

    “As I wait for government to fix the economy, I think I will continue to take the risk with these money-doubling schemes,” Olusemire said.

    NAN reports that the Nigerian Deposit Insurance Corporation (NDIC), had said that an estimated three million Nigerians lost N18 billion to MMM scheme.

    The Managing Director of the corporation, Mr Umaru Ibrahim while speaking at the NDIC day at the just concluded 38th Kaduna International Trade Fair, said more than three million Nigerians were participating in the scheme before December 2016.

    Ibrahim said this was before the organisers suspended payment to investors due to its system “experiencing heavy workload.

    He stated that when the scheme resumed in January, some new investors joined, while the millions waiting to be paid were disappointed as majority of them were never paid.

    The managing director said that in spite of repeated warnings by the Central Bank of Nigeria (CBN), and other anti-graft agencies, Nigerians still patronied the Ponzi scheme.

    “Any financial deal done through any Ponzi scheme in form of virtual currencies for medium of exchange, is an internet based transaction not authorised by the CBN, because of the risks involved in its operations. (NAN)

  • ‘Three million Nigerians lost N18b to MMM’

    ‘Three million Nigerians lost N18b to MMM’

    The Nigeria Deposit Insurance Corporation (NDIC) has said three million Nigerians lost N18 billion in the Ponzi scheme, popularly called Mavrodi Mundial Movement (MMM).

    Its Managing Director Alhaji Umaru Ibrahim attributed the figure to social media while speaking yesterday at the NDIC day at the 38th Kaduna International Trade Fair.

    Ibrahim, who was represented by his Deputy Director, Corporate Affairs, Hadi Suleiman, lamented that despite repeated warnings by the Central Bank of Nigeria (CBN) and the corporation, Nigerians still patronised MMM.

    He emphasised that virtual currencies, such as Bitcoin, Ripples, Monero, Litecoin, Dogecoin and Onecoin for Internet-based transactions are not authorised by the CBN due to the risks involved.

    He warned that any person or groups of persons, who invest in the Ponzi scheme did so at their own risk.

    “The Ponzi scheme is the phenomenon of illegal fund managers, popularly called ‘Wonder Banks’, which have continued to defraud unsuspecting members of the public of their hard earned money. This phenomenon has been a source of concern because despite our repeated warnings over the years, some members of the public have continued to fall victims of their fraudulent practices.

    “We would like to reiterate the fact that these fund managers are illegal as they are neither licenced by the CBN to take deposits from members of the public nor are those who patronise them covered by the NDIC deposit insurance scheme.

    “I want to also draw the attention of some cooperative societies, which often go beyond their primary mandate by accepting contributions from members as cooperative societies are only recognised to mobilise savings from their members.”

    Advising the public on the dangers of keeping large sums of money at home or in market shops, he said there are 978 licences microfinance banks nationwide of which seven are spread across Kaduna State.

    He noted that with the advent of the cashless policy and the subsequent licensing of mobile money operators (MMOs) by the CBN, the corporation has extended deposit insurance cover to the subscribers of MMOs to the maximum limit of N500,000 per subscriber per bank through its Pass-Through Deposit Insurance Framework.

  • Three million Nigerians lost N18bn to MMM – NDIC

    The Nigerian Deposit Insurance Corporation (NDIC) has said about three million Nigerians lost N18 billion in the Phonzi scheme, popularly called Mavrodi Mundial Movement (MMM).

    The Managing Director of the Corporation, Alhaji Umaru Ibrahim, stated while speaking at the ongoing 38th Kaduna International Trade Fair on Thursday.

    Represented by the NDIC Deputy Director of Corporate Affairs, Alhaji Hadi Suleiman, Ibrahim lamented that despite repeated warnings by the Central Bank of Nigeria (CBN) and the corporation, Nigerians still patronise MMM.

    He said,”The Phonzi scheme is the phenomenon of illegal fund managers, popularly called ‘Wonder Banks’ which have continued to defraud unsuspecting members of the public of their hard earned money. This phenomenon has been a source of concern because despite our repeated warnings over the years, some members of the public have continued to fall victims of their fraudulent practices.

    “We would like to reiterate the fact that these fund managers are illegal as they are neither licences by the CBN to take deposits from members of the public nor are those who patronise them covered by the NDIC deposit insurance scheme.

    “I want to also draw the attention of some cooperative societies which often go beyond their primary mandate by accepting contributions from members as cooperative societies are only recognised to mobilise savings from their members.”

    While advising the general public on the dangers of keeping large sums of money at home or in market shops, he said there are 978 licensed microfinance banks nationwide out if which seven are spread across Kaduna State.