- Participants of the MMM Ponzi scheme have been living in apprehension following its temporary shutdown and reopening

- Participants of the MMM Ponzi scheme have been living in apprehension following its temporary shutdown and reopening

- The Ponzi scheme has now told participants what to do as it restricts their investments for the year 2016

Participants of the Mavrodi Mondial Movement (MMM) Ponzi scheme awaiting new updates on their investments would just have to take to fate.

The Nigerian government had constantly warned citizens about the scheme

The MMM has released a statement titled: 'МММ Nigeria is coming back to normal', asking the participants to forget their investments for 2016 and commence a new investment.

This means that the jubilation that greeted the reopening of the scheme in January 2017 may have been cut short.

 

"Dear members, MMM Nigeria lifts all the limits for Mavro acquired in 2017. So, MMM Nigeria is coming back to normal.

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"And now the members can actively develop the community and create new requests to provide help. For these requests, orders will soon arrive, and after Mavro's confirmation, it will be possible to withdraw these Mavro without any restrictions or limits!

"Only Mavros acquired in 2016 remain under restriction. But we are actively working on new measures to make it possible for the members to withdraw Mavro-2016 in a larger amount without undermining the sustainability of the community," MMM said in the statement.

Many students who invested their money in the scheme as well as those who borrowed money in the hope of making 30 percent profit are now stranded.

Report also lists new Ponzi schemes that emerged following the partial crash of MMM in Nigeria to include Twinka, AlwaysPays, Naira propeller, Donation- Hub, GetHelpWorldwide, GiversCircle and Claritta. Not left out are 247Helpers, PledgeCycle and Loopersclub.

One Harrison Okojie, has been reportedly quoted as saying: "Make I tell you, na my mind I take dey carry this MMM matter. If I think about it, it will do me lot of damage.

"I can bear the loss of my money but my headache is the lady I borrowed N100, 000 from; the amount belongs to her sister.

"This is my major headache now. If I can get something out of the scheme, I will use it to buy time from her first."

The reports also quoted the managing director of a private sector investment, Kenkenson Oil & Gas Limited, and treasurer of the Apapa, Lagos NUPENG, Mr Clifford Onyechachi, as saying his N1.8 million was trapped in MMM and about N2.3 million in three other schemes.

"Honestly, all my money is trapped in MMM and other schemes. It's my money but it has affected my business badly because what I have is limited to my transactions.

"I still do small ones, trying to see how much I can get back. I invested N800, 000 for my wife and N1million for myself in MMM. I have over N2.3million in three other schemes. Those ones are on recession too," he said.