Response to CBN warns Nigerians against patronizing MMM

MMM stands for Mavrodi Mondial Moneybox

Many Nigerians are carried away by this new development called  MMM which       functions as an online investment scheme. This scheme allows monthly investment    which generate returns  of about 30 percent for every investor.

My take is that since bank is failing the people, the government is unresponsive, and  there is a huge recession in Nigeria. The people will look for every means to survive. Unemployment rate is high, young graduates cannot find a job. Most of them come out of school only to  learn trade, acquire other skill outside their degree or open a small-scale business just to survive. Sometimes this business fail due to inadequate capital, the bank hardly loan money to small businesses.

YES!  MMM is risky and the government is antagonizing about it, reason to the fact that this investment company have no back up plan. In-case this investment company begins to fail  there is no incentive like insurance coverage if there be crisis or any uncertainty.

As bad as this sounds the people are tired of the perpetual suffering, now they want to ignore all  the odds and consequences. Rather they have chosen  to face the cost of their actions and live for the moment. 

Image credit: naij

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One thought on “Response to CBN warns Nigerians against patronizing MMM

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