MMM Nigeria the scheme where members invest and are paid back between two weeks to four weeks with thirty percent profit have been frozen to stop withdrawal also referred to as payments.
A message from MMM administrator states that the freeze will last for a month, blaming the action on the government and the end of the year withdrawal “frenzy”.
The message reads thus: “Dear Members!
As usual in the New year season the system is experiencing heavy workload.
Moreover, to deal with the constant frenzy provoked by authorities in the mass media. The thing is still going well; the participants feel calm…
Hence on the basis of the above mentioned, from now on all confirmed Mavro will be frozen for a month.”
Marvo refers to the wallet which records member’s activities.
Here is a screen grabbed of the message
Scores of MMM account holders who spoke to Authentic Platform News Nigeria, expressed worry over the development.
A businessman, who pleaded anonymity said, it was a real shock for him because his wife has been cautioning him against putting money in it since the Federal Government dinnounce it.
He said apart from the warning, his plan wa to travel on Wednesday after receiving his money from the scheme which is due for maturity on Tuesday.
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