FG speaks on plans for Ponzi Scheme in Nigeria

The Federal Government has said that it has perfected plans to flush out Ponzi scheme and illegal lottery operators from the country. The hint was given to journalists in Abuja on Wednesday by the Permanent Secretary for Special Duties in the office of the Secretary to the Government of the Federation, Festus Dauda. During the declaration of a two-day specialised training programme organised for members of staff of the National Lottery Regulatory Commission, Festus said, “the Federal Government is doing everything possible to make sure that the illegal operators and quacks in the industry are eliminated. That is why we have empowered the regulatory commission with modern technology that would enable them to apprehend all the illegal operators and quacks with a view to prosecuting and sending them to jail.

MMM Announces Restart in Nigeria

Popular ponzi scheme MMM has officially announced a “RESTART” of the system, leaving many Nigerian participants wailing with thousands and millions on Naira trapped in the scheme.

Read the full text of the message:

RESTART

Unfortunately, we were unable to overcome the consequences of the crisis triggered by the authorities and mass media incautious actions at the beginning of this year. Despite all our efforts. The problems have been accumulating and, as a result, we have to announce a restart.

So, there is a restart: All old Mavros (acquired before this announcement is posted) are frozen. We will gradually buy them back as the System develops. All transactions with new Mavros (acquired after this announcement is posted) will be carried out on the usual terms with no restrictions.

Drama as Another Ponzi Scheme in Nigeria Shuts Down, Masterminds Arrested

As many Nigerians keep wondering whether or not MMM has packed up, another ponzi scheme has folded up, prompting the arrest of its masterminds.