Nigerians Have Not Learned As Twinkas Replaces MMM


Nairametrics| For the about 3 million Nigerians who reportedly lost over N18 billion to the all-but-confirmed-dead Ponzi scheme, Mavrodi Mondial Money (MMM), it is time to move on. For many of the hardy investors, who blame the current state of the economy, for their investment in the scheme, they cannot stop investing in these risky Ponzi schemes as many of them have moved over to Twinkas, which they say pays 100% interest on their investment.

Many do not seem distraught over the money they lost to MMM but are rather willing to risk another Ponzi scheme. ““We know the risks of these programmes and we know how some people became suicidal after MMM failed, but we have all learned from that. We know that we have to put in only the money we can afford to lose and not the money we have kept aside for something important.” said an investor.

“I took part in MMM scheme for a year and I lost some money at the end of the year. I later learnt of other schemes that paid more money than MMM and I decided to take part in some of them, but I will make sure I don’t exceed six months in each scheme.” said another investor.

These experiences show that Nigerians definitely have not yet learned from the disastrous collapse of MMM but still believe in Ponzi schemes despite the losses they suffered and warnings from regulatory bodies such as the Nigerian Deposit Insurance Corporation (NDIC) and the Central Bank of Nigeria (CBN).

Chacha Wabara

Chacha Wabara is a legal practitioner, blogger and fitness coach. She has over 5 years experience in blogging and freelance writing. She has written several articles and research work over the years as a freelance contributor. She joins Nairametrics as Our News and Analysis Lead.

What others say about : Nigerians Have Not Learned As Twinkas Replaces MMM..


Helperschain

Only ‘Twinkas’ has not replaced MMM, Helperschain is also boosting up and probably beat Twinkas and MMM in a very short span of time. Here are the key factors which i have noticed regarding the website:-

1. Helperschain is not like the rest who were here today gone tomorrow
2. If they say,’we will pay in 14 or 21 days’, they pay on the day.
3. They have built their service so they will be here for a very long time
4.These guys seem to take security seriously!
5. All the people in my office are members of helperschain
6. Their website is always up.
7. Helperschain have live support!
8. up to 100% return on investment plans

Omoluabi1

I wonder why the regulatory authorities and the Federal Government stand by and watch these heartless people work on the vulnerability of our people to defraud them of their hard-earned money. In civilised countries all over the world, there are regulatory bodies who compel financial houses in whatever form to satisfy certain requirements with consequences for non-compliance.

But the obvious failure on the part of the Nigerian financial regulatory authorities to stop all these nonsense makes some ‘smart’ people to sit anywhere around the world and devise all these crooked means to rob people of their hard earned money and disappear leaving them to their fate. Unfortunately, many victims are not well informed, so they jsut follow the bandwagon.

While, it can be said that the greed of some of those who should know better still drive them to senselessly put their money into such dubious investments with no fundamental bases, the same cannot be said of the majority.

It is time the Federal Government stopped all these.

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