Access Bank Plc has now officially waded into the MMM fiasco calling it a ponzi scheme. In a letter sent to its customers, the bank warned their customers telling them that MMM is a Ponzi Scheme and was not in line with any “known investment product.”
It’s unclear why Access Bank decided to send out this publication even though we understand some banks have been complaining of heavy traffic in their branch due to Nigerians depositing or withdrawing money from their accounts due to MMM.
We now expect other banks may now come out of the closet.
