Participants of the investment scheme, Mavrodi Mundial Moneybox (MMM) are in mourning following the announcement of the suspension of the scheme for one month. The founder of the scheme had only a few days ago berated President Buhari’s government for endagering the investments of 3 million Nigerians by government’s position against the scheme.
But panic was the word as promoters of the scheme announced a freezing of accounts for one month to prevent the scheme from collapsing.
According to messages displayed on the dashboards of participants by the promoters, the measure was aimed at sustaining the scheme and making it better in the new year. The rush to pull out funds for the festive period would crash the scheme.
It said the investments and bonuses of participants would continue to grow and they would be able to cash out from January 13, 2017.
“One-month Freezing of Confirmed Mavros. Dear members, as usual in the New Year season, the system is experiencing heavy workload. Moreover, it has to deal with the constant frenzy provoked by authorities in the mass media.
“The things are still going well; the participants feel calm; everyone gets paid – as you can see, there haven’t been any payment delays or other problems yet – but!… It is better to avoid taking risk. Moreover, there are just three weeks left to the New Year.
“On the basis of the above mentioned, therefore, all confirmed Mavros will be frozen for a month.
“The reason for this measure is evident. We need to prevent any problems during the New Year and then, when everything calms down this measure will be cancelled, which we will definitely do.
“We hope for your understanding,” the message read.
Mixed reactions trailed the development as some participants expressed shock and dismay while others expressed confidence in the scheme.
“This is not the first time that we are hearing that the scheme has crashed. It is still there and Nigerians would be better for it. This MMM is a life-saver for Nigerians”, a participant said.
Another investor in the scheme said she was shocked at the outcome and had hoped to make use of her investments at Christmas.
“I am shocked beyond words because I was building my hopes on this Christmas on MMM but even with that I have benefitted so much from it and I know it will continue as they said”.
The Central Bank of Nigeria and the Economic and Financial Crimes Commission had warned Nigerians against the scheme as it was not backed by any law.