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Wednesday 9 November 2016

MMM : Response To Nigeria Deposit Insurance Corporation (NDIC).



I got to the office today and was accosted by an anti-MMM colleague of mine who is usually quick to spread any negative rumor about MMM. "Your MMM will soon be shut down, NDIC is now on you peoples case" That was my early morning greeting from him.

Apparently The below statement was credited to the MD of Nigeria Deposit Insurance Corporation (NDIC).

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.

So as i have done in the past , i will post my little response to the laughable comment.
1.) NDIC, Where are our deposits in Savanna, Societe Generale and other failed banks?
2.) Why are the government agencies using panadol for another man's headache? Is it their money we are providing help with?
3.) Why are they calling MMM fraudulent? Has anyone come to complain that he or she has been defrauded?
4.) Who is this MMM they are even talking about? MMM is the participants, millions of letters of happiness abound on youtube. just search with "MMM Pays"
5.) Illegal fund managers? Who is managing what fund? It goes a long way to show the lack  of research of the people in positions of leadership. Go and research about MMM, call participants to find out details of how it works before you start casting aspersions on the community of people simply providing help to one another.
6.) How does the risk i am taking with my hard earned money affect the NDIC?

In summary
a.) MMM is not a bank talk less of a wonder bank. b.) MMM is not fraudulent in any way because MMM does not take funds from anyone c.) MMM is not a fund manager talk less of being an illegal one. d.) MMM does not give interest, it is neither a deposit nor an investment. e.) There are no victims in MMM, MMM does not guarantee safety of your money hence the advice to use only spare money. f.) MMM simply have members who give money to each other. I would like to see the constitution provision against such selflessness. g.) There are no unsuspecting members in MMM, the terms and conditions are boldly written for all to see. h.) MMM is could possibly be much more regulated than many of the banks, MMM can't fail as long as the Members continue to PH and GH.




BACK TO WHAT CONCERNS ME, TODAY IS WEDNESDAY, I NEED TO PLEDGE ANOTHER 2 MILLION.
MMM HAS COME TO STAY!!! LONG LIVE MMM NIGERIA!!!


1 comment:

  1. Make we dey PH n GH dey HP jare. Wetin concern government concern my money.

    ReplyDelete