About three million Nigerians are believed to have invested in the scheme.
MMM on Tuesday, frozen by one month, payments of both capital and 30 per cent interest accruing to investors.
The announcement jolted Nigerian investors and prompted an investor to contemplate suicide.
Meanwhile, top MMM guider, Chuddy has addressed MMM investors on the one month freeze of accounts.
In a blog post on MMM BLOG on Wednesday, Chuddy called for calm among investors.
He said the open letter explains why the one month freeze was implemented, adding that it was to put the Nigerian Government and MMM haters to shame.
“This isn’t the first of its kind. It happens when there are excess PANIC in the system It was placed on Zimbabwe and after the duration it was lifted.
“As MMM Freezes And Goes Offline Few Weeks Before Christmas This idea is brought forward to Calm the members down on intending Threat the FG and Mass media has planned on the system.’’
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I understand the platform is still accepting money from people but not paying them. What a fraud? This thing has finally crashed. I used to tell folks it won't last more than 2 years
ReplyDeleteWhy MMM not open up to people. How can freezing peoples account put government to shame? Your excuses doesn't hold waters.
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