It has been tears and more tears all morning in Lagos State after news began to filter in that rave Ponzi Scheme, MMM, has crashed in Nigeria, resulting in massive losses for its many members. While details of the crash are still sketchy,
it will be noted that only recently, the Zimbabwean and South African chapters of the MMM franchise also recently packed up, resulting in disbelief, shock and even suicide of some members who lost their life savings to the Ponzi Scheme. These events had led many to plead with involved Nigerians to “get out while they could”, a plea which fell on deaf ears.
Our source can confirm that the MMM shut down equates to a mind-boggling loss of over $100million (which will not convert to Naira for the sake of our collective cardiac safety), money which gullible Nigerians had ‘invested’ in the scheme, hoping for 30% returns.
Our correspondent headed to Victoria Island to ascertain the reality of the crash and was met with shocking images of men and women weeping on the streets, lamenting how they lost everything. Of particular note was a young man, Ufot Edidiong, who was rolling on the road, while passers-by tried to console him.
It is said he invested N200, 000 he was supposed to spend on his upcoming wedding just Last Wednesday, only for MMM to crash today.”My own don finish” he wept “mbok wedin I go tell Ememobong? Say I don Spain dey money for dey werring for aim-aim-aim and e don doss (loss)? Abasi!”