December 15, 2016

MMM: Depositors optimistic of getting trapped funds



*As Guider, Super-Guiders hold meeting to reduce panic 

By Charles Kumolu

LAGOS— DESPITE being left heartbroken by the one month freezing of accounts of participants of Mavrodi Mundial Moneybox, MMM, most investors in the money-doubling scheme are  hopeful of getting their trapped funds when the scheme eventually resumes.

Vanguard observed that the optimistic disposition of affected participants was only informed by the reasons adduced for the development by the management of MMM.

Notwithstanding, most participants, who spoke to Vanguard in Lagos yesterday, were still in a state of shock, as they regretted being taken unaware by the turn of events.

While many certainly believed that MMM would resume operations on January 12, 2017, as promised by its management, a few were doubtful of getting their trapped investment, citing the fate of South Africans, who had a similar experience.

Amid this uneasy calm, there are fears that those who invested huge funds may resort to suicidal reactions since they relied on the expected bonus to meet their economic needs amid the current hardship in Nigeria.

Speaking to Vanguard, a Lagos-based business woman, who pleaded anonymity, said:  “I am yet to believe that MMM has crashed.  It did not crash, people only misunderstood what the management is doing. It is in our interest.

“But I am scared, because no one is sure of what will happen if it eventually resumes. I have a huge amount of money in the scheme. I am hopeful but not too sure of what might happen because I have read about the plight of South Africans, whose money was not refunded at the end of this kind of incident.”


On his part, Mr. Chukwujekwu Mouneke, who owns an electronics shop in Alaba International Market, said: “MMM has not crashed; it is only on a break from December 12 to January 12 for data upgrading and a few other features for the benefit of participants.

‘’The media is doing more harm than good. If people can wait for 30 days to collect 30 percent, what stops them from having patience for system upgrading? After all, APC administration finds it difficult paying salaries as at when due.”

Guider, Super-Guiders hold meeting to reduce panic

Meanwhile, further inquiries revealed that to reduce the panic in the system, some leading members of the scheme, known as guiders and super-guiders convened a meeting yesterday.

At the forum which was held on a social media video conferencing virtual platform, Zoom, yesterday at 9 am, certain decisions were taken to ensure the scheme comes back to retain participants’ confidence.

The agreed measures sighted by Vanguard read: “Programmers are working to implement a new model of our platform. One objective of this new model would be to prevent massive GH(Get Help) at any particular point in time.

“New model will be explained to all after its implementation, not before.  Programmers are pushing to implement it in less that a month. So the freezing of Mavros might not last up to a month. No promises.  A notification/clarification of our current situation would be put on POs ‘probably’ before the end of the week.

“Releasing Mavros in batches would be taken into consideration. Encourage downlines not to panic. What is being done is for all our benefits.  Change of guider button for all ordinary participants would be put on participants PO next week.

“MMM news update would commence this week on all POs. Mavros will grow on a daily basis during the freeze. Just that the dispersion process (creation of PH and GH orders) is put on hold for now. This period would be used  to handle all problems currently on the table.”