NEWS UPDATES!! A Man reportedly loses N4m in MMM, claims it has destroyed his family

Man reportedly loses N4m in MMM, claims it has destroyed his family

Following the supposed crash of the MMM Ponzi scheme, a family have lamented the losses the scheme has brought upon his family.

According to a man identified as Osakpamwan Amieomwanghi, the sudden crash of the Mavrodi Mundial Moneybox (MMM) Ponzi scheme, has brought his family nothing but sadness and pain.

Amieomwanghi said the peace and love that once dwelled in his family evaporated after they (him and his two sons) lost the N4m they had 'invested' in the scheme.

59-year-old Amieomwanghi who lives at the Evbuotubu community in the Egor Local Government Area of Edo State, said he had pledged N2million into six different accounts in November 2016, but is yet to receive his money back.

According to him, he had heard about the scheme in September, and had initially refused to join in, but he was forced to change his mind after one of his close friends received a profit of N1.4million after investing N4million in one month.

He claims he decided to put his money because he had planned to expand his provisions business and to have a grand Christmas celebration with his family. Unfortunately for him, MMM 'took a break' in December 2016, with plans to resume operations in January 2017.

According to Mr. Amieomwanghi, he used to have a flourishing business in a popular market in Benin City and was the envy of his friends till he put his entire capital into MMM.

He also narrated how he persuaded two of his sons to invest N1m each in the scheme, which they did just two weeks before MMM crashed.

Amieomwanghi said:
“Three of the account owners that I paid to were calling me, as if the scheme was about to crash. I was running around because the system gave me 48 hours to make all the payments. At a particular point, l wanted to pull out and let them block me from participating in the scheme, but l didn’t listen to myself. I was carried away with the N700, 000 gain that l was supposed to have made within one month.

“It is painful because that was virtually all the money – capital and profit – that l had. Watching it going down the drain has been giving me sleepless nights. I have become a prayer warrior for the scheme not to crash, as many had forecast. Waiting for January 14 was like waiting forever. I can’t remember how many nights I couldn’t sleep because of the money. I am not a better and l hate betting, but l can’t explain how l fell into this.

l wanted to risk it only once and stop. I am praying that it bounces back, and once l get my money, l am off. I am begging my children to forgive me and to understand that my intention was to make them financially better. If I had suspected that the operators would suspend people’s accounts that soon, l wouldn’t have put one naira into it let alone asking my children to do same.”

Mrs. Amienomwanghi who has been married to her husband for 32 years, intervened in the discord that was threatening to rip her family apart by begging her sons to be patient and also offering prayers and hoping that MMM will return. She also blamed them for not telling her before putting money into a Ponzi scheme.

She said:
“My home is in trouble at the moment. If the online scheme fails to return, as it promised it is only God that can save me. My sons had never been rude to their father until MMM came into our home. For over a week, the boys were not in good terms with their father. They were so bitter and every member of the family saw it. Four million naira in this recession is not a joke. Since December, feeding has been a problem for us.

One of my husband’s friends told me that my husband said he might simply run away to the village if MMM finally crashes. That is why I am so afraid and confused about the whole thing. My home has been so peaceful but that is now history. MMM has turned my children against their father.”

Since the resumption of MMM on January 13, participants have been waiting with bated breath for the scheme to stabilize, as they are hoping they can somehow get their money back.

The scheme has however resumed the Get Help and Pay Help options which were previously removed, after releasing new guidelines for the Ponzi scheme, bringing with it some form of relief for some participants.

Posted By: Chukwudi

SHOCKING! A FIVE YEARS OLD GIRL GOT PREGNANT IN PLATEAU STATE. READ AND COMMENT

I CAME ACROSS THIS STRANGE BUT TRUE NEWS THIS MORNING AND DECIDED TO SHARE..

WONDERS SHALL NEVER END, FIVE YEARS GIRL "PREGNANT" IN PLATEAU...

An incident which can aptly be tagged as most outrageous happened in the north central state of Plateau, Nigeria. In a remote and sleepy hamlet of Kanke local government, a little girl of Five was found to be pregnant. According to the child's parents,the perpetrator of the bizzare act is not known but the police has begun an inquiry with the view to fathom the identity of the mystery man or men behind the heinous crime.

Speaking further,they Father of the girl told newsmen that until few months ago,the poor child began to complain of excruciating pains in her groin which they didn't pay commensurate attention to. After a while,they noticed that her breasts were developing,all of which they attributed to early adolescence precocity. Their fears was confirmed after tests were carried out on her when they noticed her protuberant tummy.

They pregnancy test came back with a positive verdict. The locals and family of the girl are still in a state of shock which is quite rational considering the girl's age and biological placing. We contrived to get a photo of the victim and we present it to you for your own perusal and appraisal.

AFTER READING I WAS LEFT WITH NOTHING TO UTTER..COMMENTS PLEASE!!!

Postulated by: Chukwudi

NIGERIANS!!! REASONS WHY YOU SHOULD STOP INVESTING IN MMM - COMRADE LYRICAL

NIGERIANS!!! REASONS WHY YOU SHOULD STOP INVESTING IN MMM - COMRADE LYRICAL

The MMM financial scheme caught on like wildfire in Nigeria but it has frozen its transactions, leaving many investors unsure what will happen to their savings. The BBC's Stephanie Hegarty explains how the Ponzi scheme found its way to the most populous nation in Africa and how it managed to survive.

What is MMM?

Well, that depends on who you speak to. According to MMM itself, it is a "social financial network of people providing help and getting help from each other".

Members are supposed to receive 30% back on their investment in just 30 days. It launched in Nigeria in November 2015 and according to its founders, has three million members.
But it has a murky history. It started in Russia in the 1990s and collapsed a few years later losing an estimated $100m (£80.3m) belonging to its members.
The Russian government outlawed the scheme and founder Sergey Mavrodi was jailed for four years.

Sergei Mavrodi was released from Russian prison in 2007
It made its way to China where it was also banned. But in the past two years, the scheme has appeared in South Africa, Zimbabwe, Kenya, Uganda and Nigeria.

Nigeria's financial regulator, the Securities and Exchange Commission (SEC), say it is a Ponzi scheme.
That means money paid in by new members is used to pay back previous members. It doesn't generate any profit but relies on new members to keep going, which means that sooner or later it will collapse.

"No profit is being created," says economist Tunji Andrews. "And the people that are going to pay for all your profit right now are the people that are going to get stuck when MMM finally crashes."

How does it work?

Members either sign up online or with the help of a "guider" - a member who gets commission to recruit more investors.
To start, one can invest as little as 15,000 naira (£32; $40). That money gets paid directly to another member.
The idea is that after 30 days, every member reaps their profits. "Guiders" get a 10% cut of the new members' investment.
Over the past few months, MMM Nigeria has undertaken an aggressive advertising campaign and used community forums and church meetings to recruit members.

Why are people talking about it?

On 13 December, the scheme was frozen. Members who expected a pay-out since Tuesday have been disappointed.
MMM claims it froze the scheme to deal with heavy traffic that it experienced in the run-up to the Christmas holidays.

It says it will re-open in January and though many people are sceptical, others have staunchly defended the scheme.

Nigeria is in the middle of its worst recession in decades. Banks are not lending and so many people are hailing MMM as a source of capital.

MMM Nigeria image caption testimonies of members can also be found on the website
Since it first appeared in 2015, authorities have issued warning to Nigerians against investing. In a country that does not have a huge amount of trust in its government, millions ignored that advice.
Seven people, who do not wish to be named, explain how they got involved in the scheme. We will call them by different names.

Margaret, a farmer from Port Harcourt told me that MMM was "a blessing". She used it to pay rent when her business slowed due to the recession.
Similarly Bolu from Ilorin described MMM as "beautiful". He was able to pay his school fees and buy a printer. Both are optimistic the scheme will work again.

Most of the people who spoke to our team had initially made good returns on their investments, compelling them to invest huge amounts later. Unfortunately for them, the company froze its operations.
Isaac invested 50,000 naira in the scheme and got his returns. Two days later he invested 950,000 naira. He was supposed to get his money back on 14 December. So far, he has received nothing.

MMM say it is up front about the risks. A warning on its website reads: "The only rule is no rules… "Win" might not be paid without any reasons or explanations."
All the investors we spoke to admitted that they had been aware of the warnings but thought the risk was worth taking.

Have people lost their money?

At the moment, it is unclear whether investors will get their money back but authorities in Nigeria believe that it is inevitable that people will lose out. There is not enough money in the system to carry on forever.
Folusho Awosanya claims to be the spokesperson for MMM. I found his number after browsing the MMM website.

He told me in a phone interview that the earnings of investors "are being calculated but will be paid to them when MMM Nigeria unfreezes its activities".

He however, was unable to indicate exactly when that will happen.
Even if MMM reopens in January as it claims, it is likely that the scheme would collapse at some point.

Is MMM breaking the law?

MMM Nigeria's website features live chat where prospective members can chat with a 'consultant'
According to the privacy laws of SEC, once a scheme like this gets a certain level of investment it must be registered.

MMM is not registered with the financial regulator so technically, it could be breaking the law.
But the SEC has not yet taken any active steps to prosecute it.
What happens next?

Members have to wait until January to see if MMM is as good as its word.
Until then its investors can only hope to get their money back.
But MMM is under no legal obligation to return it.

If the scheme does "unfreeze", that might encourage more people to invest.
And that means even more people are at risk of losing their savings.

What Are Your Views Concerning These Article ?

Written by: Comrade LYRICAL

Postulated by: Chukwudi

Three million Nigerians panic over likely collapse of MMM

Three million Nigerians panic over likely collapse of MMM

December 13, 2016

About three million Nigerians who are participants of the MMM Ponzi scheme are in panic over the loss of their investments as the scheme froze accounts, making it impossible for members to withdraw their money.
In the early hours of Tuesday participants woke up to the shock of a one month “freezing’’ on all accounts of participants to avoid an eventual collapse.
Displayed on the pages of participants of the scheme, its founder, Sergey Marvodi explained that the reason for the measure was to ensure the sustainability of the scheme in the New Year and make it better.

He said that the money of participants would continue to grow in the platform along with their bonuses which they would be able to cash out as from Jan. 13, 2017.

He explained that most participants would want to cash out their money for the festive period and that would lead to a breakdown of the system as it is a mutual aid community of individuals helping individuals.
He added that it was also a way of ensuring the sustainability of the scheme which has been under a lot of attack from the Federal Government and the media of its collapse in December.
Marvodi however urged participants not to panic as the measure in place would only make the platform stronger with better strategies to be put in place as from January.
Marvodi had written an open letter to the Federal Government explaining that the scheme was not a scam but has brought a lot of benefits to its citizens.
The Security and Exchange Commission, the central Bank of Nigeria, and economic analysts warned Nigerians about the scheme.
The government agencies warned that the same way the scheme has enriched some people, it would throw some into poverty.
Some participants have expressed their disappointments on the measure as they explained that the same measure being put for the sustainability of the scheme would lead to its eventual collapse.
Mr Gabriel Okafor said that he has lost trust in the scheme and he would not put in any other money into it in January.

Recounting his loss, he said he actually participated with his spare money as it was clearly warned on the platform.

MMM Ponzi scheme website was launched in Nigeria in November 2015. (NAN)

Source: The Punch Newspaper

Posted By: Chukwudi

Www.Campusechoe.blogspot.com

Why you should Be Very Careful When Dealing With Mogbe Moku Modaran (MMM)

Access Bank of Nigeria has issued a warning letter to Nigerians involved in MMM Nigeria scheme not to deposit money in any business that is not insured by the Deposit Insurance Corporation (NDIC)

In a letter the bank is currently sending to its customers, Access Bank cautioned that those that are participating in the controversial "ponzi" scheme, MMM, adding that the customers who are involved in the MMM, stand a risk of loosing all their money.

Below is the sample of the letter Access Bank is sending to customers;

It has come to the attention of the Bank that some customers are engaged in the ponzi scheme called MMM. please be advised that this scheme is not in line with any applicable or known investment product and may ultimately leads to loss of funds on the long run.
We advise that customers avail themselves of genuine and approved investment product in the Nigeria banking environment
Thank you for choosing Access Bank"

What do you think?   

Campusechoe©2016

ASUU strike: Students beg FG for quick resolution

ASUU strike: Students beg FG for quick resolution

November 22, 2016   
ASUU President, Prof. Biodun Ogunyemi

Some students of the University of Nigeria, Nsukka have appealed to the Federal Government to urgently look into grievances of striking lecturers to forestall incessant strikes in universities.

The students made the appeal in Nsukka on Tuesday while reacting to the ongoing warning strike embarked upon by the Academic Staff Union of Universities.

The President of the Students Union Government in the university, Mr. Emmanuel Chukwu, pleaded with President Muhammad Buhari to urgently resolve the crisis between the Federal Government and ASUU.

Chukwu said that this had become necessary in order to prevent disruption in the academic calendar of universities in the country.

Miss Amarachi Okafor of the Department of Psychology urged the Federal Government to dialogue with ASUU not to allow the strike snowballed into an indefinite one.

Okafor also pleaded with ASUU to consider the plight of students who would be spending extra years in the university, especially in this period of recession.

She said, “The longer the strike lingers, the more the rate of crimes will increase and parents will be paying more for extra years spent in school.”

Another student, Mr Emmanuel Ochi of Mass Communication Department pleaded with ASUU to consider the interest of students in order not to constitute a setback to their academics.

She said, “I want the Federal Government and ASUU to resolve their misunderstanding amicably in the interest of students and tertiary education in this country.

“Students have suffered enough over incessant strikes and we do not want a repeat of what happened in the last administration by ASUU.”

Academic activities have continued to be paralysed at the UNN over the warning strike by ASUU.

The chairman of UNN-ASUU chapter, Dr. Ifeanyi Abada, said that academic activities were grounded in the university in compliance with the directive by the National Executive Committee of ASUU.

He said, “NEC made efforts to resolve this issue with government but it remained unyielding because of its insensitivity to issues concerning education.

“Since government failed to do the needful, ASUU is left with no option than to proceed on a one week warning strike and failure to meet with our demands we will go on an indefinite strike.”

Abada said that ASUU was not taking it lightly with government on issues raised, especially the demand that universities be exempted from the Treasury Single Account (TSA) policy.

He said, “The strike compliance in UNN is total, no lectures, no examinations no departmental and faculty meetings as members will not participate.

“UNN chapter will not renege on the directive of the national body till government addresses all the issues raised.

“Our monitoring team is moving round and any lecturer found teaching will be sanctioned accordingly.”

Source: Punch News
Posted by: Chukwudi

Breaking News! World Bank releases N125m to Kwara communities

World Bank releases N125m to Kwara communities
Date: 2016-11-13
    

The World Bank has released N125m for micro developmental projects in Kwara State, the General Manager, Kwara State Community and Social Development Agency has said. He stated that each benefiting community would be supported for micro-project(s) not exceeding N10m.He spoke in Ilorin, the Kwara State capital on Saturday during a training workshop for members of community project management committees and sub-committees from Olori, Hamdallah, Elan and Aiyekale communities in Kaiama, Ekiti and Asa Local government areas of Kwara State.

Source : The Sun newspaper

*NOTICE OF MASSIVE PROTEST OF KWARA STATE STUDENTS*.

*NOTICE OF MASSIVE PROTEST
OF KWARA STATE STUDENTS*.

*It is either we die for
something or we die for
nothing*
In the spirit of solidarity and
tenent of comradeship, the
leadership of National
Association of Kwara State
Students (nhqs) hereby humbly
invites all Kwara State Students
home and abroad, union
leaders, opinion leaders and
activists to *MOTHER OF ALL
PROTEST* scheduled to hold on
*Monday 14 of November,
2016 at Kwara State
polytechnic gate at 6:00 am*.
It must be noted that, this civil
protest is imperative at this
present moment in other to put
a stop to *various atrocities of
the RECTOR of the polytechnic,
Dr Elelu against students*. The
rector petitions and complain
against him has filled already
on our table. Let me also said
that in this our tenure, we shall
challenge all form of neo-liberal
attack against our students.
The protest is going to be a
multi facets one, as Monmouth
crowd of Students will be led to
KWARA STATE HOUSE OF
ASSEMBLY in the said date as
well. The rt.hon. Alli Ahmod's
house which has proven to be a
rubber stamp in the hand of
megida.
Do we have house committee
on Education at all ? if yes, what
are they waiting for to impeach
our insensitive Governor to the
plight of students ? Are they
not aware that non-
implementation of budget is a
criminal act? To set the record
straight, Megida has been
attributing sum of over three
hundred million annually for
our bursary and has never for
once since 2012 implement 5%
of it yet some one is in that
state Assembly monitoring
such budget. Our Assembly
must feel us and we shall
rewrite sense in their
nonsense.
This is a call for solidarity to
rescue our brother from
callous Rector and rescue all
our over 1.2 million kwara state
students from gluttonous
megida administration as well
as not "do well" Kwara State
House of Assembly.
OUR NATIONAL ASSEMBLY
MUST DO THE NEEDFUL AND
ELELU MUST GO!
God bless Nakss
God bless Kwara State God
bless Nigeria
UTHMAN YUSUF
NAKSS PRO NHQS

Postulated By: Chukwudi