PEOPLE AND MAKING MONEY, MMM NIGERIA.

MONEY IS IDEA, BUT QUICK MONEY IS PEOPLE TAKING RISK.            

WHAT IS MMM NIGERIA? 

A Nigerian, who styled himself as Pastor Ernest Chigozie Mbanefo is the mastermind of the suspected Ponzi scheme now minting quick money but known as MMM Nigeria.

 According to an online report, Mbanefo is a Nigerian based in South Africa.

THE HEADLINE NEWS:

*How MMM FOUND ITS WAY INTO NIGERIA?

*When was MMM Nigeria website registered?

*What Nigerians feels about MMM Nigeria, in the face of Nigeria's economic recession. 

*Who are the MMM Nigeria Competitors at the time of filing this report.

The news in detail.....

Nigerian Communications Week has said that Mbanefo registered the site MMM-Nigeria.net domain on 7th of June, 2016 and precisely at about 5PM Nigerian time.

NCW which was quoting Pageone report which was written September, said that: "Mbanefo made a single year domain payment" a claim which neither MMM Nigeria nor any one of its managers has refuted and all they efforts to speak with them has been abortive as at the time of filing this report.  The domain subscription is still valid but will likely expire on the June 7, 2017 if pageone report is to be sustained.
It was further revealed that: "MMM Nigeria is not part of MMM Global – a Russian company that was responsible for one of the world’s largest Ponzi schemes of the '90s.
The later, -MMM Global  was founded by a Russian politician named Sergei Mavrodi, alongside with his brother Vyacheslav Mavrodi and their partner whose name was also known as Olga Melnikova.

The name of the company MMM was taken from the initials of those three founders’ surnames and thereby making MMM stands for "Marvrodi, Mavrodi, Melnikova".
However, just like MMM Global, the Nigerian born Mbanefo's scheme is also a pyramid marketing scheme where an investor gets a 30 percent return on his investment per month but distinguishing itself, it seem to have internalized with a style which does not permit the managers of MMM Nigeria to handle exchange of money transaction for interested investors of the scheme therefore leaving each step peer to peer and every willing investor at his or her own risk.

Around the world, MMM is feared.
In January 2016 the Chinese government banned MMM on the grounds that it is a pyramid scheme, (Ponzi scheme), and it is not registered in the country (and as a fraudulent scheme cannot be registered. however, in the face of Nigeria economic recession, many believes that MMM Nigeria has becomes massively like a community helping hands where each participate aim to support each other to grow. And like a modernized African traditional money contribution meetings of old called "AKAWO". An akawo is an association method of fund rising where members contributes for a member this week; and then by the next week, it is the turn of  another member B, and while the old members takes first, the new members are on the ques and also contributes. and so it continued with such a merry go round basis with mutual trust, until it hits the hand of a fellow who could not be able to continue the process and the result is - all comes crashing.
However, the MMM Nigeria has at the moment seem like its members are surviving in the face of the nation's lean period, but still; it should be of note that MMM Nigeria is of course graded as among those Ponzi scheme of its kind. However, in the face of Nigeria's economic recession, it remains the choice of the people to chose if they are willing to take risk with their money or not.

Meanwhile, MMM recently crashed in Zimbabwe where thousands of ‘Mavrodians’ in Zimbabwe were left in tears when the scheme crashed, and many losing tens of thousands of their lifetime savings.

PageOne gave Mbanefo’s address as No. 1 ROYAL STREET, LINDBERG PARK, JOHANNESBURG, SOUTH AFRICA, and according to Page One: "on the 15th of July, Ernest was awarded a certificate of completion of an online course titled "MMM Guiders School".
The certificate was supposedly signed by Sergei Mavrodi himself. He has since given himself the nickname the "Super Guider of MMM".
To share news and information about MMM, Ernest also operates a subdomain ‘news.mmm-nigeria.net. The site praises him and projects him as the leader of the Ponzi Scheme in Nigeria.

“He is described as: MMM Nigeria Super Guider; Pastor Ernest Mbanefo, has been selflessly helping thousands of MMM Nigeria Participants whether or not they fall under his downline structure. The brain behind the MMM NIGERIA REVOLUTION operation has been working selflessly and tirelessly towards the education, information and proper guidance for the MMM Nigeria Community

Today, the competitors of MMM Nigeria includes but not limited to; UltimateCycler, Crowdrising, Icharity, Swissgold, Givers Global Alliance, among others.

*Further Contribution by eGlobal Partners, Some Parts of the news are Culled from Nigerian Communications Week and PageOne 
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