MMM Nigeria Returns, says Poor Participants To Be Paid First, Doublespeaks On Media

The Oasis Reporters

January 14, 2017

24 hours before it’s anticipated return Saturday, Mavrodi  Mondial Movement, better known as MMM, is back in Nigeria, but with new conditions, which includes encouraging participants to use bitcoin for transactions.

The pyramid scheme which has now decried media meddling had earnestly asked it’s participants to promote it’s scheme, online and offline, previously .

The ponzi scheme, in a statement posted on its official Twitter account, said, “This is to officially inform you that MMM Nigeria is open for business a day earlier than promised! Let’s go there Nigerians”.

Upon resumption, the scheme says its members will now be able to pay and receive money in bitcoins, citing the cryptocurrency’s steady growth in value as a reason for participants to adopt the currency.

MMM’s letter to its participants stated that “in a month, not only 30 percent will be added to your initial amount, but, it can increase itself due to Bitcoin price growth”.

On the heels of that, the Securities and Exchange Commission creased it’s face in a frown asking Nigerians to keep away from MMM’s Bitcoin offer as it had no approval for such enterprise, even as Bitcoin is international, above what SEC can easily regulate.

Meanwhile, in a statement that announced its return at about 11am on Friday, the Russian Ponzi scheme said it is setting a limit on daily withdrawals, to control panic withdrawals.

MMM founder, Sergey Mavrodi, said in the statement, “The holidays are over, and we”re now open. Just as promised. (You might have already noticed that we always stick to our promises

“Actually, we promised to be open on January 14, but we”re open now, January 13, as you can see, which is a day earlier. (Well, I hope, the members of the System will forgive us for that.

“It’s related to the hysteria raised by the authorities and the mass media around MMM. By joining forces, they’ve managed to nearly give the members of the System a heart attack and have frightened them out of their wits.

“Poor souls don”t know what to expect. Will we open again or not? This is why we’ve decided, considering the situation, to reach out to the members, reassure and cheer them up by opening a little earlier.”

Citing panic withdrawals as a reason, MMM Nigeria explained that payments would take a few days, and called on the media to leave the scheme alone.

“As of this notice, MMM resumes its usual operation. You can now create your GH-requests. However, it’s obvious that panic will reign in the first few days after the re-opening of the System. We’re likely to be deluged by GH-requests.

“Therefore, we’re going to make gradual paybacks by setting internal output limits. In other words, we will only pay a certain amount per day. Please, be prepared to wait for a couple of days. We are certain things will then calm down, and the System operation will return to normal.

“We’re the ones setting the limits, so it’s completely under our control, and we are not expecting any emergencies in principle. Have no fear and go on about your business as usual.

“As the System is socially oriented, we will make paybacks to the poor and the economically disadvantaged in the first place: it means to the members with small PH amounts.

“The richer can wait. Moreover, we’ve warned you repeatedly to only provide help with amounts that are not critical for you. Therefore, if these large amounts are not critical for them (the richer), they can wait a few days. No need to be tragic about it.

“This is the way it’s going to be. I’d like again to call on the authorities and the mass media: Please, leave us alone! Have mercy on people,” the statement read.

This was the earlier news item where MMM Nigeria Tasked Participants To Promote Scheme Via Social Media

After freezing the accounts of investors due for payment mid-December with a promise to bounce back this month(January) , MMM Nigeria has asked participants, that were affected by the freeze, to perform “Promo Tasks: A New Tool for MMM Community Development”.

The ponzi scheme, via a statement on its website, explained that the tasks, which would be done both online and offline, is expected to promote the scheme and drive “traffic and participation” by the time MMM lifts the freeze on January 13, 2017.

The statement reads, “Being an MMM member implies not only opportunities, but also a responsibility for the state and development of the MMM Community. MMM is our home, and we are responsible to build and refine it.

“A lot of participants genuinely want to promote MMM, spread its ideology amongst people, though not always knowing what exactly has to be done. Therefore we have created a new PromoTasks section in the PO, which is added with various tasks: online and offline, easy and complicated, individual and team-oriented.

“A member who will perform these tasks will be benefited, because the tasks will allow him to attract new referrals, build his structure (and get bonuses for that), and it will be useful to the whole Community, because more people will learn about MMM and its ideology.”

Those in charge of MMM Nigeria also said via the statement that a “task may guide a member to join a Facebook group and write a comment to create some tweets on Twitter, like a YouTube video, share news on Google Plus, and make your website”.

The handlers continued, “There are also offline tasks: conducting home sharings, cafe meetings, organizing MavroPicnics, MavroParties or MavroGames.

“Doing the tasks you contribute to the Community’s progress. Thanks to you and other members doing the tasks, MMM gains more popularity in social media and gets more registrations and PHs. MMM needs you and depends on your activity!

“It is obvious that the activity of MMM Nigeria members is growing. MMM is very proud of its members who are becoming kinder and more responsible. By our efforts, MMM Nigeria will overcome!” the statement assured.

Greg Abolo

Blogger at The Oasis Reporters.

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