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The Federal Government of Nigeria has initiated moves to shut down MMM operations in Nigeria.

Managing Director of the Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim, said regulators have set up a Committee to stem the nefarious activities of the fraudsters across the country.

“I wish to sound a word of caution to members of the public on the activities of illegal fund managers, otherwise known as Wonder Banks.

“It is worrisome to note that despite repeated advice, many unsuspecting members of the public are still falling victims to the mouth-watering interest being offered by these illegal fund managers.

“Members of the public are therefore advised to patronise only banking institutions that display the NDIC sticker: “Insured by NDIC” in their banking halls or entrances.

“However, the regulatory authorities have set up an inter-agency committee under the Financial Services Regulatory Coordinating Committee(FRSCC) to stem the nefarious activities of these fraudster across the nation”.

Umaru spoke on Monday during the NDIC Special Day at the 2016 Lagos International Trade Fair.

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179 COMMENTS

  8. “Still on the matter”

    For God so loved nigeria that he brought MMM that whosoever that provide help shall get help in return and shall survive in this recession.. Amen MMM rocks but bad belle is allowed even from federal govt..

  24. MMM forever….nobody cn stop MMM…..they re trying to inflict pains on us xo dat we cn stop providing help nd getting help….its cuz mmm is nt paying tax….nw tell me, mmm nd nairabet or 9jabet wc one is more risky??….they didn’t stop nairabet cuz they pay tax…..oga MMM wil stay nd stay forever….MMM changed my financial life….am a living testimony….moni na our moni no be FG or CBN moni….why re they drinking paracetamol in anoda person’s headache……wicked set of pple….as una no wan provide job opportunities to graduates nd oda pple…..we saw means of surviving nd u want to shut it down…..may God’s anger befall whosoever dat is making move to shut down mmm…..AMAPARTICIPANTOFMMM##

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  32. This government don’t mean well for Nigerians ooo! Is that the economic problems Nigeria is facing? This scheme has been feeding some of us and now these CLINTONS supporters wants to shut it

  53. So what happens to those people who have put in their sweat and blood into this. Nigerian govt ehnn create job you Ppl no gree naija people go look for means to make money now you want to spoil business again. Odiegwu

  59. Hmmm… I love MMM, am a participant but I think we should calm down, the federal govt have issued a warning, that they will shut it down, I think its in our own best interest not to invest for the main time.. Because definitely FG will do as they have said and if you invest, you will be on a lost end.. So think twice ppl abeg…

  61. Why this idiot Buhari have a very big problem for himself like this…. MMM that Nigerian’s are using to pay their Bill’s every month he want to stop it again…. Nigerian’s please we all need to do something about this idiot Buhari before he will finish us ohh, even if na bomb make them bomb am, make we all have rest of mind

  87. Hmmmmmm. Federal government don’t let d gods of my for fathers strike ur shrine down. Which yeye move, we dey recession no increase in salary all we see is increase in our spending. Is it even ur money federal government. Is it ur own is it ur concern????

  97. WICKED, SELFISH, IDIOT, USELESS FEDERAL GOVERNMENT AND BUHARIST, YOU MUST BE MAD, PROVIDE JOB FOR NIGERIANS NO, NOW THE ONLY MEANS I SURVIVE, YOU WANT TO SHUT IT DOWN, DEVIL MUST PUNISH YOU, YOUR GOVERMENT, CBN, AND ALL YOUR CANNIBALS AND AGENT OF selfish FOR MMM, ARE WE EATING YOUR MONEY, OR CBN MONEY, OLEE, MSY DEATH VISIT YOU AND YOUR USELESS, VISIONLESS SET OF CABALS AGAINST IT

  98. Must you write all this trash to drive tragic to your site, you wrote many times that Mmm has crashed ,now FG moves to shot down Mmm,is like you are the mugu here ,you can’t shot down what you cannot see ABOKI.

  102. Buhari or wat they call ur name you ve done us more harm Dan good, is it ur money we are putting or the money you recoverd from your dubious senators, no we are using our money if they scam us we will be the ones to cry not you you better face wts on ground nd leave us and MMM alone oooooooooooooooooooooooooooooooooo. Hmmmmm a word is enough for the wise

  115. Breaking News….. THE FG is set to shutdown Yabaleftonline.com says it is full of lies and posting communist content that can bring division to THE country. Said they will arrest THE adim and any who blog with such name from 15 Nov 2016.. Source THE Punch Newspaper

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