MMM PONZI SCHEME IN NIGERIA, " MATTERS ARISING "

As many Nigerians Are excited to log in and fill membership forms on the website of MMM-Nigeria, they should perhaps have taken a minute to think about the long string that runs from the firm all the way back in time to a certain man called Charles Ponzi. 
In 1920, Ponzi became the first person to actualize the financial scam mentioned in Charles Dicken’s 1844 novel, Martin Chuzzlewit and another novel written in 1857 titled Little Dorrit, and earned the dishonour of the scam being named after him.
According to Wikipedia, Ponzi’s original scheme was based on the arbitrage of international reply coupons for postage stamps; however, he soon diverted investors’ money to pay himself and the earlier investors.
His operation took in so much money, and it was the first to become known throughout the United States. Today, operators of Ponzi schemes usually entice new investors by offering higher returns than other investments, in the form of short-term returns that are either abnormally high or unusually consistent.


Ponzi schemes occasionally begins as legitimate businesses, until the business fails to achieve the returns expected. The business becomes a Ponzi scheme if it then continues under fraudulent terms. Whatever the initial situation, the perpetuation of the high returns requires an ever-increasing flow of money from new investors to sustain the scheme.

Here comes the MMM era…
MMM started in 1989 as a Russian company and it rode on the financial waves in the 1990s. It was established by three people: Sergei Mavrodi, his brother Vyacheslav Mavrodi, and Olga Melnikova. The company derived its name from the first letters of their surnames.


From inception, the company focused on the importation of computers and office equipment, but the business failed woefully. Before long, the firm was prosecuted for tax evasion by Russian tax police, which ultimately led to the collapse of the business. The three owners tried to sell stocks to shore up the capital, but the effort failed. After awhile they teamed up again to form MMM-Invest, which was also not successful. However, fortune smiled on them when MMM created its own version of Ponzi scheme in 1994. The company attracted money from many private investors. The business grew rapidly and it thrived on word of mouth. But most of the company’s success came from its extremely aggressive advertising campaign, which appealed to the general public by using “ordinary” characters that viewers could identify with.


In July 22, 1994, the police closed the offices of MMM for tax evasion. For a few days the company attempted to continue the scheme, but soon ceased operations. At that point, Invest-Consulting, one of the company’s subsidiaries, owed more than 50 billion rubles in taxes (equivalent of US $26 million), and MMM itself owed between 100 billion and 3 trillion rubles to the investors (from US$ 50 million to USD1.5 billion). In the wake of the crisis, 50 investors who lost their money committed suicide.
It is estimated that five to 40 million people lost up to $10 billion. The founders did not even know the exact figures.


In 2016, MMM was launched in Nigeria through a website with a business model claiming to pay a 30 per cent return monthly through a social financial network.
The firm states on its website: “MMM is not a bank, MMM does not collect your money, MMM is not an online business, HYIP, investment or MLM program. MMM is a community where people help each other.” Yet people were asked to invest their money and in return, 30% interest will be given to you. A friend told me that if you invest 200,000 Naira, at the end of the month. You will get 60,000 Naira as a profits.

Let's take a look at Past Ponzi scheme in Nigeria.
A notorious Port Harcourt-based businessman, by name Umanah Umanah, who allegedly swindled countless number of unsuspecting Nigerians in the early ‘90s with his company, Resources Managers Limited, an unregistered financial outfit operating in Port Harcourt. In those years of its operation, Umanah literally ran licensed commercial banks out of operation, as he lured depositors with a carefully crafted scheme which allowed anyone to withdraw his or her full deposit with 100 percent interest after four weeks. This became a huge attraction for the teeming depositors, who thronged commercial banks to withdraw their deposits and placed them in the wonder bank. Even some top shots in the public service were not left out, as some of them fell for the deal and also put their cash in the wonder bank.

When eventually the bubble burst, Umanah was arrested by the Police and arraigned for operating a bank without a licence by the Federal Government and in violation of the regulations set out by the Central Bank of Nigeria (CBN). Umanah was charged alongside his company with illegal banking operations in the country before the Federal High Court in Port Harcourt. Both Umanah and his firm, Resources Managers Limited, however, pleaded not guilty. Umanah applied for bail, which the court granted. The charges were subsequently amended by the prosecution and the proceedings in the matter suddenly got stuck. No one heard of Umanah again or his money or any proceedings relating to the charge preferred against him. Umanah and his wonder bank just disappeared into the thin air till date.


Similarly, the managing director of another alleged wonder bank in Enugu, Lets Partner With You Ltd, Patrick Nwokike, was equally arrested by the EFCC for allegedly defrauding unsuspecting members of public to the tune of N4billion. His arrest followed several petitions from across the country on the nefarious activities of his company. Nwokike was alleged to have solicited and obtained deposits from the general public for five years with a promise of mouth-watering interest in return.
Before the security operatives uncovered the unregistered company, reports said, some depositors had enjoyed a 10 per cent interest on their invested capital, but the largesse suddenly stopped and all efforts by others to have at least their initial investments returned became futile.

Petitions from Nigerians alleged that Nwokike not only lived a very flamboyant lifestyle but acquired several personal assets and used their deposits for philanthropy. Although Nwokike admitted in his statement that depositors’ funds with his company amounted to N4 billion, he claimed that his company was into a partnership business, which received money from interested partners who desired interest over a period of time. According to CBN report, no less than 560,000 Nigerians were fleeced of N1 billion by wonder banks between 2009 and 2012.

In conclusion, I will say that, what appears to be a new wonder bank with a new name "MMM NIGERIA" has commenced online operations in Nigeria, and probably without license from the appropriate regulatory authorities. The funny thing about the so called " MMM" is that it has no known address. Yet some Nigerians are already queuing up, online, and depositing money into a certain bank accounts as directed by the organisation. When will the bubble burst? Only time will tell.

Powerful Prayer points that can set you free.

Before I put down these Prayer point that can move a mountain, I need my readers all over the world to understand one thing, it might be obtainable in some societies and in some, it might sound so funny. But if you are living in the dark world, mainly in Africa. I want you to take this prayer point seriously because it works. say them one by one.


1: Oh God whoever that is hijacking and delaying my money and my properties, ur time is up Loose ur hold and be destroy in Jesus Christ name amen.

2: Oh God let the grace and mercy that is working for the higher mountain of mercy start to work for my life and my business in Jesus Christ name amen.

3: Whosoever that tied my hands and my legs, from this moment back to the sender in Jesus Christ name amen. From now I am free and I must achieve all my goals in Jesus Christ name amen.

4: Every enemy of my destiny, fighting against my life and destiny, ur time is up, loose ur hold and be destroy in Jesus Christ name amen

5: Every satanic gathering assigned to pull me down, ur time is up. Loose ur hold and be destroy in Jesus Christ name amen.

6: Every spirit that is holding my blessing in the spiritual realm, what are u waiting for release my blessing now in Jesus Christ name amen.

7: Every household enemy fighting against my life and my business, ur time is up, Loose ur hold and be destroy in Jesus Christ name amen.

8: Every monitoring mirror and monitoring spirit, monitoring against my business and my life ur time is up. Loose ur hold and be destroy in Jesus Christ name amen.

9: Every evil uncles and brothers fighting against my glory, ur time is up. Loose ur hold and be destroy in Jesus Christ name amen.

10: Every spirit of delay, set back and disappointment in my life and In my business ur time is up. Loose ur hold and be destroy in Jesus Christ name amen.

11: Every family foundation fighting against my life and my business ur time is up. Loose ur hold and be destroy in Jesus Christ name amen.

12: Every evil arrow shot against my life ur time is up. Back to the sender in Jesus Chris name amen.

13: Anything that will make me to have any kind of problem , I cancelled it now in Jesus Christ name amen

14: Any man or woman that mentioned my name to any occult kingdom, or take my name to any native doctor in order to fight against my life and my business, ur time is up. Loose ur hold and be destroy in Jesus Christ name amen.

15: Oh lord my God, intervene on my case and bless me

16: Every alter rising against my life and my business, ur time is up. Loose ur hold and be destroy in Jesus Christ name amen.

17: Oh lord my God, any strong man or woman in my life, in my family, and in my business that possesses anything in my life ur time is up. Loose ur hold and be destroy in Jesus Christ name amen.

18: Oh lord my God, any man or woman that seat on my seat, today I unseat u in Jesus Christ amen

19: every evil manipulations, manipulating my life and my business ur time is up. Loose ur hold and be destroy in Jesus Christ name Amen.

20: every spirit of eating in dreams and every spirit of fornicating in my dreams, ur time is up. Loose ur hold and be destroy in Jesus Christ name. Amen.

21: O lord my father, every spirit of limitation in my life and every spirit of rising and falling in my life and in my business, ur time is up. Loose ur hold and be destroy in Jesus Christ name amen.

22: Every evil catering, assigned against me. Catch fire and die in Jesus Christ name amen.

23: Any alter from my mothers house or from my fathers house or from my in laws house that is bringing disfavor, rising and falling in my life and business, let that alter and the chief priest catch fire in Jesus name Amen.

24: Every evil gang up against my destiny and my family, ur time is up, catch fire and scattered in Jesus mighty name I prayed Amen.

In conclusion, I will say that. I do understand that in the western world, it might not be obtainable because they have found favor in the eyes of the Almighty God. But they still have their own problems which is not fighting witches and wizards, but the spirit of terrorism and gun violence. My brothers and sisters, believe me. You need God and his mercyto be able to excel. If you have decided to start this prayer, please take it serious and try to keep records of all the dreams you will be having within this periods because God is going to reveal a lot of things to you in dreams. Try to wake up everyday as from 12:30 in the middle of the night to start the prayer. First few days will be difficult but after you will be used to it. Begin with praises and worship songs. Thank you for starting these prayer and I pray that God will show you mercy and set you free.

Top five reasons women cheat on their husbands.

According to Tunde Ajaja, "Other than disagreements arising from childlessness and the usual ‘irreconcilable differences’, there is hardly any other thing that has wrecked marriages than infidelity. Defined simply as the action or state of being unfaithful to a spouse, infidelity is an act that is engaged in by both men and women. Even though it is widely believed that men are guiltier of this act, studies have shown that women are just as culpable as men, if not more.

A study by Dr. David Holmes, a psychologist at Manchester Metropolitan University, United Kingdom, shows that women, more than ever, now have more extra-marital affairs than men, noting however that women are better at hiding their infidelity, they are a lot more likely to lie about it and a lot less likely to get caught.

It has been established that men are more daring when it comes to infidelity, and it is even a status symbol in some cycles while it is somewhat forbidden for a woman to even think about it, not to talk of doing it. Holmes, in his post on Mail Online, said, “If you look at the studies into paternity, even conservative figures show that between eight and 15 per cent of children haven’t been fathered by the man who thinks he’s the biological parent. So, the biggest difference is that women are much better at keeping their affairs secret.”

That men cheat is not the gist, and some people have even adduced several reasons for their infidelity, including the fact that men are moved by what they see, thus, they are more likely to cheat because of sex. But given that women are seen to be more reticent when it comes to their sexuality, it is therefore compelling to note the things that make women cheat on their husbands.

According to reports, whether such women do so because they are either not satisfied with their marriage entirely or they are not satisfied with it at all, the main reasons that have been found include unsatisfactory or lack of emotional care, arising from lack of attention and intimacy, revenge, feeling under-appreciated, boringness, low self esteem, peer pressure, financial independence, and of course sexual dissatisfaction or the more serious one, sexual addiction. These were the findings of Divorced Moms, which is an online community for divorced women and single mothers, where they share ideas and experiences.

Sex: This is one of the key reasons some women cheat on their husbands. Findings have shown that some women have extramarital sexual relationship because they are not getting enough of good sex, some do it because they are not getting any, maybe the refusal of the man to ‘touch them’ based on subsisting conflict and a lot of women do it out of emotional disconnection from their spouses.

Meanwhile, most women do not reach orgasm during sexual intercourse, which on its own creates some discomfort for them, hence, there is the possibility for some to look for that sexual satisfaction elsewhere and it is more likely if they have a waiting or willing ‘partner’ outside. It is equally not strange for some women to engage in extramarital affairs if their husbands have small manhood. This shows the importance of sex in marriage.

According to Dr. Janne Lomasky, a United States-based psychologist, women who do not experience real orgasm during sex may eventually lose interest in the relationship and look elsewhere for good sex. She noted, however, that such women should communicate their needs to the husband or, they could seek the help of a sex therapist instead of having another affair.

Revenge: It is interesting to note that some women engage in extramarital affairs to get back at their husbands, especially when such men had also cheated on them. Such women have been found to do it in style, pride and they see it as the best way to revenge the wrong done to them by the cheating husband. “Those who have been cheated before feel deceived, hurt, angry, sad and violated and it affects their relationship, mood, behaviour and the ability to trust the man, thus, they want to make such men feel the way they felt,” said Lomasky.

However, she advised that instead of cheating, they should resolve the issue and move on. “The biggest truth is that cheating never solves a problem; communication, assertiveness and increasing passion and romance in the relationship are a much better solution,” she added.

Lack of emotional connection or attention: It has been said that women are emotional beings who need constant attention and care from their spouses, thus, if their husbands do not show them the much needed intimacy and affection, some tend to look for it outside the marriage because it is in their genes to be cared for, and when they don’t get it, they look for it, which often compels them to fall into the waiting hands of other men. Lomasky notes, “Women deprived of attention, compliments and compassion usually have emotional affairs, which could lead to sex, even though it could start with craving for attention and compassion that has been absent from their marriage.”

And it is almost the same thing when women feel under-appreciated. A simple ‘thank you’ or complimentary remarks could make the difference, and when women do not hear such, they feel bitter, pained, underappreciated and it could breed low self-esteem. Whereas, if they have friends who make them feel loved, that could be the beginning of an extramarital affair.

Boredom: Findings have shown that women love varieties and they want to be happy in marriage, but when they feel their spouse is not creative, more so if he used to be, some tend to have affairs. According to some women, new relationships are exciting, and it is more so because such men tend to do everything possible to impress the woman, as against what they had been used to with their husbands. According to Helen Fisher, a biological anthropologist at Rutgers University in US, women are more likely to have an affair because of loneliness. And as established earlier, women want care, physical touch and attention, but when they have spouses who rarely spent time with them, some tend to seek attention from other sources.

Peer pressure: This is a term that is mostly used when talking about children, but it is heartwarming to note that older persons feel it too. To avoid being abused or discriminated against in some cycles, some women take to extramarital affairs so as ‘to belong’ because they have friends who do same. In such cases, it is the friends who put them through, find them a lover and teach them how to keep it away from their husbands.

According to Lomasky, a woman who earns her own money, while the husband earns his, may consider leaving an unhappy relationship, unlike those who depend on the husband. When a woman has been abused or is being cheated on by her husband, a woman who cannot bear such but has the capacity to pay her bills could seek comfort, care and attention from other men.

A psychologist, Dr. Bonke Omoteso, could not agree less with some of the reasons above. She said if a woman has a cheating husband, she could also cheat on the man to get back at him. She added that if a woman is not sexually fulfilled, she might also consider extramarital affair, mainly because some men are not patient with their wives when it comes to sexual intercourse. She said, “Some men just want to enjoy it and leave, which may not be pleasing to the woman. If it persists, such a woman could go outside the marriage to look for someone to satisfy her.

“Some women are nymphomaniacs, having abnormally excessive and uncontrollable sexual desire, in which case one man cannot satisfy them. Such a woman could cheat on the husband.”
She pointed out that a husband’s actions could also compel the woman to consider having extramarital affairs. “If the man does not adequately provide for her, she might want to look for a man that could satisfy her materially and sexually, she added.
According to Omoteso, even though it is not scientific, it is worthy of note that there could be spiritual influences that could make a woman to do such, perhaps in a bid to break the marriage.

In conclusion, I will say that this articles has proved me right that there is nothing like real love, and if it does, then there is no reason a man or a woman will ever thing of cheating in a marriage or having a double affair in a relationship. And don't forget that it depends on individuals, there are some women and men that cannot cheat their partners and they will resist any temptation. Cheating is the worst game any body can play because it does not worth it. And it can destroy what one has build for years. And there are some men and women that no matter what one does to him or her, he or she must cheat.

These groups of people are likely to be possessed, if not why does it profit a man and a woman to take a one night stand and destroy what he or she has built for years. So my advice to cheating men and women is, stop looking for a reason to cheat or revenge and focus on how to avoid temptation and how to build a happy home. And if temptation arises, you can run to church and pray. Like what happened to me yesterday, a friend call me to meet them in 6th Avenue for evening drinking, as I was going, when I got to the first Avenue Catholic Church. I decided to go and worship God at the church of visitation in first avenue off which I avoided the drinking temptation.