There are indications that the foremost pyramid scheme in Nigeria, MMM could be seeing its last day following the unprecedented restriction of accounts for doubtful reasons.
The leadership of MMM has issued a controversial circular to participants concerning the freezing of some confirmed accounts for a month with the community of members currently left in a state of panic and limbo.
This corroborates with the popular rumours that MMM could be winding up at the end of the year, 2016. Read the disturbing circular below as it has left the hearts of investors in their mouths:
“One-Month Freezing of Confirmed Mavros
As usual, in the New Year season the System is experiencing heavy workload. Moreover, it has to deal with the constant frenzy provoked by the authorities in the mass media. The things are still going well; the participants feel calm; everyone gets paid – as you can see, there haven’t been any payment delays or other problems yet – but!.. it is better to avoid taking risk. (Moreover, there are almost three weeks left to the New Year.)
Hence, on the basis of the above mentioned, from now on all confirmed Mavro will be frozen for a month.
The reason for this measure is evident. We need to prevent any problems during the New Year season, and then, when everything calms down, this measure will be cancelled. (Which we will definitely do).
We hope for your understanding,
In explicit terms on the above circular, Mavros are the unit of pseudo-currency used by participants. (Mavro is shown below in the MMM Android app)
Mavro, while in the system, grows at a rate of 30%.
A confirmed Mavro refers to a pledged amount (Provide Help) that has been redeemed (Paid to another participant).
Frozen Mavro is not an alien term in the Mavrodian (what Participants of MMM fondly call themselves) circle. Mavros after being confirmed stay frozen for certain period of time, until it’s release date (usually less than 3 weeks).
In a recent Christmas promo launched by the website, additional 20% accrued bonus was added to all who made pledges, this led a lot of faithful Mavrodians to make pledges. They were mostly matched to pay their pledge faster than usual.
It is unclear if during this mandatory 30days of being frozen, whether frozen Mavro will grow.
All things being equal, some of the implications of this would include:
1. No participant can get help (withdraw the already paid money) until January 12th 2017.
2. Due to number 1 above, no participant can Provide Help (pay money) since no one gets paid till January 12th 2017.
The news broke at 1am Tuesday morning, a day always anticipated by Mavrodians as Mavro Day, since Mavros grow on Tuesdays and Thursdays. Hence many participants wait till Tuesday morning before asking to Get Help (make withdrawal).
It’s been claimed by participants that the same scenario played out in December 2015, hence they are calm assuring every member that it is not a crash landing.
See some supporting screenshots below: