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MMM Introduces New Measures as Top Guilder Flees NigeriaDiscussion

As Ponzi scheme, MMM, continues to make improvements and complete its much anticipated new model, some measures are being put in place to make MMM better.

The information below was posted on the MMM Nigeria team support Facebook group:

1. We are targeting sustainability. Not to destabilize the community. So we cannot work faster than we are doing now.

2. About fake proof of payment (POP), when things are normal, we will introduce a new model where if you attach fake POP (proof of payment), you will be blocked immediately. No matter if you pay the money later.

3. Do not promote other products that are copycats. Believe in the community because programmers are finished with the new model and soon you will see it.

4. Participants who promote other projects will be blocked, some have been blocked already more will still be blocked.

5. Next week, SMS notifications will be turned on for orders. Everyone is to ensure their phone numbers are working.

6. A new measure will be implemented to reduce the long PH (provide help) queue in the system to make it shorter and restore the confidence of the people back.

7. We will make announcements in your PO this week to make clarifications.

Meanwhile, Nigeria’s top guider, Chuddy Ugorji, has reportedly fled the country. It was gathered that Ugorji, left Nigeria with his wife to the Philippines.

He fled the country when many investors were waiting to be paid their money with the accrued interest, the News Agency of Nigeria reported

FG Concludes Plan to Build 2 Rice Plants in Imo State

Nigeria's Agriculture Ministry has concluded plans to site two rice plants, one cassava processing plant and one palm oil plant in Nzerem, Ehime Mbano LGA in Imo state.
This is part of FG's plans to ensure food sufficiency in the South-East, Transition Committee Chairman of Ehime Mbano LGA, Chike Ojiako said.
According to him, Governor Rochas Okorocha and Imo-North's Senator Benjamin Uwajumogu are working with the Agriculture ministry to realize the project.

MMM Nigeria participants Panic as their “GH” (Get Help) Orders are Removed or Still Unfulfilled

Mavrodians (participants of MMM) Nigeria are panicking because they cannot retrieve money from the scheme. Many people woke up this morning to find out their GH requests were removed.
Over 92 hours since the ponzi scheme, Mavrodi Mundial Moneybox, MMM, announced its return and unfreezing of Mavros after a month’s freezing of access to requesting financial help (GH), it has again begun removing the Get Help (GH) access of some of the participants, otherwise called Mavrodians. The reason given is that the measure is to ensure a balance between Get Help (GH) and Provide Help (PH) .
Although a few participants have claimed they had been paired with who would pay them their returns, otherwise known as Provide Help (PH), no one has been paid so far.
Many have even begun lamenting the inability to get help despite the scheme’s announcement that the Mavros had been unfrozen.
However, more anxiety has begun looming as most of the participants woke up today again to discover that their requests for help have been removed, a situation that has further heightened the fears of the ponzi scheme really coming back to normal.
Some of the participants in a WhatsApp group have these complaints:
One participant with the name, Abisoye said, “Have gh since Friday but yet to be match.”
Another, Fola said, “I was merged ystd but not yet paid.”
Another, Chinwenwe said, “And I can’t see my Gh money in the dashboard. Have refresh it severally, am not seeing it.”
Another participant, perhaps a promoter, known as Guider, said, “I refused to sleep last night. I was able to GH for almost all my downliners.”
Other promoters of the scheme wrote to allay the fears of the participants, saying the removal of the GH is a further measure taken to moderate those requesting for help and hence, have a balance between (GH) and (PH).
One of them, Olaarowolo wrote, “Please be informed that some GH are temporary removed because measures to ensure that there are balances between PH-GH, GH-PH. Please do not panic. As matched orders are cleared, relief with spread. Thank you.”
Other promoters say the website is currently undergoing an upgrade, but many are skeptical.

MMM Nigeria: What Mavrodians Are Saying About The Ponzi Scheme Comeback

As Nigeria’s Ponzi scheme, MMM Nigeria returned, some subscribers have been pouring out their mind with reservations for the scheme.
Some said they are yet to get help and some still waiting to get account unfreeze.
Although, upon resumption, the scheme says its members will now be able to pay and receive money in bitcoins, the digital currency with other new conditions.
Here are what they are saying:

MMM Opens Portal for Participants to Make Withdrawal Requests

Money doubling scheme, Mavrodi Mundial Movement (MMM) , has opened its portal for participants to create Get Help (GH) requests – withdrawals.
The scheme had frozen withdrawals on December 13 2016 over “heavy workload on system”.
According to the letter in December, the ban on withdrawals was partly due to negative reports by the media on the scheme.
See the message that appeared on their website below:
Dear members,
The holidays are over, and we’re now open. Just as promised. (You might have already noticed that we always stick to our promises.  Actually, we promised to be open on January 14, but we’re open now, January 13th, as you can see, which is a day earlier. (Well, I hope, the members of the System will forgive us for that.
It”s related to the hysteria raised by the authorities and the mass media around MMM. By joining forces, they’ve managed to nearly give the members of the System a heart attack and have frightened them out of their wits. Poor souls don’t know what to expect. Will we open again or not?
This is why we’ve decided, considering the situation, to reach out to the members, reassure and cheer them up by opening a little earlier. After all, Together We Can Change The World!
Here we go.
1. As of this notice, MMM resumes its usual operation. You can now create your GH-requests.
2. However, it’s obvious that panic will reign in the first few days after the reopening of the System. We’re likely to be deluged by GH-requests. Therefore, we’re going to make gradual paybacks by setting internal output limits. In other words, we will only pay a certain amount per day. Please, be prepared to wait for a couple of days. We are certain things will then calm down, and the System operation will return to normal.
We’re the ones setting the limits, so it’s completely under our control, and we are not expecting any emergencies in principle. Have no fear and go on about your business as usual.
As the System is socially oriented, we will make paybacks to the poor and the economically disadvantaged in the first place: it means to the members with small PH amounts. The richer can wait. Moreover, we’ve warned you repeatedly to only provide help with amounts that are not critical for you. Therefore, if these large amounts are not critical for them (the richer), they can wait a few days. No need to be tragic about it.
This is the way it”s going to be.
Hoping for your kind understanding, Sergey Mavrodi . We Change The World!
P. S. I”d like again to call on the authorities and the mass media: Please, leave us alone! Have mercy on people.

Nigeria's External Reserves Hit $26.5bn

Nigeria’s external reserves hit $26.55bn on January 9, from $26.2bn on January 6 as crude oil price and output increases.
This is Tuesday's figure from the Central Bank of Nigeria.
The foreign exchange reserves had hit $26bn on January 3, 2017, up from $25.8bn on December 30, 2017, the CBN statistics revealed.
The reserves ended last year with $25.84bn balance on December 30, 2016.
The foreign exchange reserves have been rising in recent weeks following the gradual increase in oil price and production output.

Nigeria's BDC Operators Set Naira At 399 Per Dollar Before CBN Meeting

Nigeria's bureau de change operators set their first ever reference exchange rate for the naira at 399 to the dollar on Tuesday, in a bid to help reduce the gap with the official interbank rate.
The government has been pressing retail operators to narrow what it says is a damaging gulf between the naira's official rate - currently at 305 to the dollar - and the parallel rate - as weak as 490 in recent days.
Bureau de Change association president Aminu Gwadabe, who is due to meet central bank officials later on Tuesday, said his members had agreed to set a weekly reference rate to improve liquidity and help rebuild investors' confidence on the economy.
"Once liquidity improves, the wide margin between the parallel and official market rates will be bridged," Gwadabe told reporters.

Nigeria Overtakes Angola To Retain Africa's Top Oil Producer

Nigeria is said to have returned back to the position of Africa's top oil producer after Angola took over in March 2016.
The Organisation of Petroleum Exporting Countries (OPEC), crude oil production from Nigeria rose slightly above that of Angola even before the January 2017 planned production cut agreed by OPEC and non-OPEC producers, ThisDay Newspaper quoted the December 2016 Monthly Oil Market Report (MOMR).
Angola would be expected to cut about 78,000 barrels per day (bd) of its production in the agreement which was sealed in late 2016.
According to Thisday, secondary sources in the MOMR indicated that in November, Nigeria and Angola produced 1.692 million barrels (mb) of oil apiece. Similarly, information from primary sources in the MOMR stated that Nigeria produced 1.782mb of oil as against Angola’s 1.688mb to show its takeover of Angola by about 94,000bd.
“According to secondary sources, OPEC crude oil production in November increased by 151tb/d compared to the previous month to average 33.87mb/d. Crude oil output increased the most in Angola, Nigeria and Libya, while production in Kuwait and Saudi Arabia showed the largest decline”.

MMM: mixed reactions trail introduction of Naira-Bitcoin payments

With a few days left to the January scheduled opening of frozen accounts , MMM Nigeria, a money doubling scheme has introduced bitcon which they called “MAVRO-BTC.”
In December of 2016 all confirmed accounts were frozen –which means withdrawals was stopped for a period of one month.
A statement from MMM states that the introduction of bitcoin was “Due to the recent sharp price fluctuations of Bitcoin, MAVRO-BTC is being introduced in the System.”
It also added that this introduction seeks to bring about comfort “We hope that with implementing MAVRO-BTC, your participation in MMM will become more comfortable.”
As expected this generated a buzz on the social media with some lauding the new step, while some don’t share such sentiments.
Here are some reactions:
Adesina Abideen “ MMM britain is more rewarding than all these mavro Naira or what have you. Your bitcon grows in dollars.u know the value of exchange rate now and what level will be after conversion.”
Uche Bonson “Brothers and sisters BTC bitcoin is the digital money and allows user to send or receive money without government regulations. bitcoin operates on a decentralized system of finacial operation. Mavro is smart and will continue to withdrawal his profits out of Nigeria without any government trace or regulations. I am deeply troubled concerning Nigerians get rich quick mentality. Please 300,000 is enough to start business and infact most successful businesses started small. Well people must be deceived...congrats Mavro you're smart.”
Andres Innocent” Can somebody tell me, what about our money that were frozen b4 how we going to get it back”
Omose Shakamomodu “ All these is just talk, wat abt we Dat ph last month before it got frozen, hw do we get out money”
Gift Pampam Osiago “MMM pay me my money first before you start talking about Bitcoin nii!”
ECOMOG "so the thing no crash again? well let's see what happens on 14/01/2017 only then can we really say"
Taz "So MMM-ers can now sleep better? For those that want to avoid heart attacks this year, decide and act more wisely."

Source :Daily trust 

No Retreat No Surrender : “January 14th is Sacrosanct!” MMM Declares as it Urges Participants to Promote Scheme

As participants prepare to be able to GH (Get Help) from money-doubling scheme Mavrodi Mundial Moneybox (MMM) , the admins, via Twitter have declared that participants will be able to make withdrawals from the January 14 2017 which was stated when withdrawals were frozen.
“January 14th is sacrosanct,” it stated, calling on members to have the money they have pledged to PH (Provide Help) with before the date, otherwise they should cancel the order.
The scheme also stated on its website that participants whose accounts were frozen, should perform what it called, “Promo Tasks: A New Tool for MMM Community Development”.
The scheme said the aim is to create more visibility for its operations, and also get more participants before the January 14th resumption date.
“Being an MMM member implies not only opportunities, but also a responsibility for the state and development of the MMM Community. MMM is our home, and we are responsible to build and refine it.
A lot of participants genuinely want to promote MMM, spread its ideology amongst people, though not always knowing what exactly has to be done.
It is obvious that the activity of MMM Nigeria members is growing. MMM is very proud of its members who are becoming kinder and more responsible. By our efforts, MMM Nigeria will overcome!” it stated.
Participants are quite optimistic that the scheme will bounce back, and observers are watching to see how it all pans out.

MMM Releases 2017 Rules Ahead Jan. 14

As it may probably unfreeze accounts of its users on January 14, Mavrodi Mondial Movement (MMM) ponzi scheme has released 2017 guidelines for the Nigerian participants.
According to Nigerian Bulletin, MMM programmers are working earnestly with a new model which will be announced and implemented at a later date.
This, the MMM Admin. claims will help keep the system balanced:
“To keep the GH(Get Help) and PH(Provide Help) balanced. No matter whether people join us or not.. and it will be sustainable.
“When it will be implemented, we will be notified. We can PH and we should keep our downlines updated.”
Recall that the ponzi scheme froze the accounts of its mavros, as the particicipants are popularly called, on December 12, 2016, in order “to help prevent any problems during the new year season. And also to tackle the media frenzy that has been going on in the country”, MMM said in a circular sent out to all users of the scheme. The latest statement on the new guidelines further reads:
About the growth of bonuses:
We have to see towards it… half of guiders’ supporters said it should keep growing. Guiders misbehaving will be dealt with. And the only way to get them is by getting evidence.
Unfreezing of Mavro will be probably January 14 or might be sooner.
[/b]About proof of payment[/b]
We will use a new strategy for fake proof of payments: We will start checking orders when it turns yellow, that is…
Change of guiders button will be done this week or any time soon. Phone number verification would be implemented soon… via sms notification.
Guiders school: Soon we will start automized guiders school and make it well organised.
False news around:
We should demonstrate to others that our community is working and not give heed or ear to what people say about the system… It solely depends on us the leaders.
We can also talk to people to PH and let them know that their mavro will keep growing.
Recall that the Central Bank of Nigeria(CBN), the Securities and Exchange Commission(SEC) and Nigeria Deposit Insurance Corporation (NDIC) had warned NIgerians against using the scheme.
Source : The Sun

Private Tax Collectors Comply Fully With Edo State Government’s Directive

Edo State Government’s ban on collection of taxes by private bodies have continued to attract commendation from commercial bus drivers and traders in Benin City.
 Although bus drivers no longer pay taxes to private bodies, there is still hike in transport fares.

MMM Nigeria Subscribers Set To Legalise Scheme, To Meet National Assembly

The controversial Ponzi scheme, Mavrodi Mondial Moneybox (MMM), Nigeria subscribers are undaunted despite temporary closure of the operations as they plan to meet with the House of Representatives’ committees on finance and banking and currency to seek for government’s recognition of the scheme.
The MMM community in Abuja, which is coordinating the planned meeting, said it hopes to submit a proposal for the amendment of the Banking and Other Financial Institutions Acts (BOFIA) to legalise the operations of the scheme and similar money initiatives in the country.
A member of the steering committee of the MMM community, Chief Mike Chukwuma, who told New Telegraph, that MMM has helped immensely in easing the pains of recession.
He said instead of discouraging Nigerians from participating in the financial self-help scheme, the government should rather legalise its activities so that it could be monitored and regulated.
Recall that theHouse of representatives had, in November last year, passed a resolution seeking the abolition of the financial policy and probe of its promoters in the country.
The resolution was sequel to the adoption of a motion moved by Saheed Akinade Fijabi (APC, Oyo) who lamented the widespread acceptance by Nigerians of the unregulated scheme, established in 1989 by three Russian nationals with a promise that participants would make 30 per cent on investment after 30 days.

Man Caught With N1.5bn Cocaine Confesses-Recession pushed me.

The National Drug Law Enforcement Agency, NDLEA, at the Nnamdi Azikiwe International Airport, Abuja yesterday announced the discovery of parcels containing cocaine weighing 9.15kg.
The substance was uncovered in a shipment of shoes during the inward screening of passengers on a Turkish Airline flight from Sao Paulo, Brazil.
The cocaine industrially concealed in the soles of new foot wears, has estimated value of £3.8 million in Europe (N1.5bn)
Chairman/Chief Executive of the NDLEA, Colonel Muhammad Mustapha Abdallah (retd), observed that the huge profit derived from drug trafficking was why many are now involved in the illegal business.
Abdallah said: “We must continue to take deliberate steps to intercept drugs and ultimately prevent the criminal enrichment of drug cartels.
“Illicit drug proceeds negatively affect economic development, could be used to corrupt government officials and terrorism funding thereby subjecting mankind to widespread destruction.
Abdallah, who commended his officers, described the seizure as one of the benefits of training and validation of enhanced capacity of officers due to series of training programmes.
“The training covering investigation, raid operations as well as prosecution was conducted with the assistance of the United States government, European Union and United Nations Office on Drugs and Crime.
“This is just a tip of the iceberg because as the benefits of these training begin to manifest, more drugs shall be detected and cartels dislodged in the days ahead.”
NDLEA commander at the Abuja airport, Hamisu Lawan, said agents arrested a 34-year-old suspect, Okolo Emenike Kingsley, who hails from Ezeagu, Enugu State.
“The motorcycle parts dealer said that he was offered the sum of N1 million to smuggle the drugs to Nigeria.
“Investigation is ongoing and the suspect is cooperating with our team of undercover officers.”
Speaking, the suspect disclosed he is a motorcycle parts dealer and married with a child.
“My business was failing due to recession, so I travelled to Brazil in search of employment.
“Things became worse for me in Brazil because I had no money to sustain myself while my work permit was being processed.
“I was equally confronted with the fear of deportation. This made me to be desperate in my search for quick wealth.
“In the process, I met my childhood friend who offered me N1 million to traffic cocaine to Nigeria. He also paid for my ticket and gave me three bag of shoes containing the cocaine.
“On arrival at the Abuja airport, the cocaine was detected and I was arrested. I had wanted to invest the N1 million in business in Nigeria.”
NDLEA said suspect will soon be charged to court.

Nigeria: BREAKDOWN Of How FG, States, LGs Shared N4.97trn In 2016

The three tiers of government comprising federal, states and local government councils shared a grand total of N4.97 trillion as federation revenue approved by the Federal Accounts Allocation Committee (FAAC) in 2016 fiscal year.
The N4.97 trillion represents 12 months of disbursements with effect from December 2015 to November 2016 as against last year’s grand total disbursements of N5.5 trillion for similar period.
The 2016 allocation dipped by N523.2 billion. The December 2016 allocation will be shared in January 2017.
The allocation breakdown revealed that the Federal Government cornered the largest share of the disbursement to the tune of N1,544.384 trillion followed by states with N862.779 billion, local government councils (774) collectively received N489.511 billion while oil producing states collected in the last one year the sum of N213.3 billion as derivation fund.
January 2016 : N387.771 billion - Federal Government’s statutory share was N147.57 billion, states got N74.848 billion, LGs N57.705 billion while oil-producing states collected N27.703 billion.
February 2016 : N370.388 billion - Federal Government got N137.473 billion, states N69.728 billion, LGs N53.757 billion while allocation to oil producing states was N22.380bn.
March 2016 : N345.095 billion with Federal Government receiving N127.2 billion, states N64.518 billion, LGs N49.740 billion, while 13 per cent derivation for the month was N22.780bn.
April 2016 : N299.747 billion - The central government got N109.113 billion, states N55.334 billion, LGs N42.668 billion and the sum of N19.750 billion was paid as 13 per cent derivation.
May 2016 : N281.500 billion shared with Federal Government getting the highest amount of N101.215 billion, states N51.338 billion, LGs N39.579 billion and N15.745bn as 13 per cent.
June 2016 : N305.128 billion - Federal Government N112. 830 billion, states N57.229 billion, LGs N44.121 billion and N16.738 billion for oil producing states.
July 2016 : N559.032 billion - Federal Government got N119.754 billion; states got N101.318 billion, LGs N78.112 billion while N17.124 billion was paid to oil producing states.
August 2016 : N691 billion was shared, out of which Federal Government got N225 billion, states, N153 billion, LGs N116 billion and N9.92 billion as derivation.
September 2016 : N510.27 billion - Federal Government got N149.310 billion, states N75.732 billion, LGs N58.386bn and N20.293 billion as 13 per cent derivation.
October 2016 : N420 billion - Federal Government got N120.351 billion, states N61.044 billion, LGs N47.062 billion while N13.729 billion went to oil producing states.
November 2016 : N420 billion - Federal Government got N96.674 billion, states N49.035 billion, LGs N37.804 billion, while oil-producing states got N13.548 billion.
The last allocation in 2016 was N386.879 billion.
FG’s share was N97.897 billion, states N49.655 billion, LGs N38.282 billion and N13.613 billion as 13 per cent for oil producing states.

Pastor Ashimolowo Loses $4.8million To Ponzi Scheme

Pastor Mathew Ashimolowo of the Kingsway International Christian Centre has lost $4.8 million to a Ponzi scheme after trustees carelessly invested money in it, according to The Christian Post, a United Kingdom based website.
The scam was the brainchild of former Premier League soccer player, Richard Rufus, who used to be a defender for Charlton Athletic. He promised investors along with the church a return as high as 55 per cent.
The Christian Post reporting the findings of an inquiry published 14 December by the Charity Commission for England and Wales revealed that the Kent-based 12,000 members Christian Centre suffered a net loss of about $4.8 million (£3.9 million) after its trustees invested over $6.1 million (£5 million) in four instalments between June 2009 and June 2010. Mr. Rufus was a member and former trustee of the church.
Mr. Rufus had guaranteed that the investments would earn a sizeable return totalling about 55 percent in a year.He was last year found guilty of defrauding about 100 investors out of a total of $10,731,159 (£8,682,343) in the £16-million investing scheme.
Kingsway International Christian Centre was said to be the single largest investor in the scheme.
The church has a 12,000-member megachurch in Britain.
The Charity Commission said in the report that the church’s trustees handed over an initial investment and entered into an agreement in which they were guaranteed that investment would earn a profit of about five percent per month, with the exception of August and December when they were guaranteed profits of about 2.5 percent.
“The inquiry established that in practice, however, the investments resulted in a net loss of £3.9 million to the charity,” the report explains.
The report states that the church’s trustees who handed over the funds were guilty of “mismanagement.”
Source: The Christian Post

The Only Thing We Can Do For MMM Victims - NDIC

The Managing Director of the Nigeria Deposit Insurance Corporation, NDIC, Umaru Ibrahim, has said there is nothing else the agency could do except to offer prayers for the victims of the recently crashed Mavrodi Mundial Movement, MMM.
The MMM had last week suspended its window in Nigeria due to what it called ‘heavy workload on the system’is.
Ibrahim who spoke to Journalists over the weekend at the Workshop for Business Editors and Finance Correspondents in Kaduna said the Corporation would not relent in calling on Nigerians, sensitizing and enlightening them on the dangers of patronizing wonder banks.
He said beside the MMM case, there were some new cases of the emergence of the wonder banks in recent times in places like Enugu, Kaduna and Plateau states.
“For us, we already told Nigerians that MMM are not recognise, they are illegal, but some insisted that they are legal, all hands must be on deck to educate the public, today is MMM, tomorrow it could be YYY”, he said.