Recall that before the alleged crash of the scheme, the media was awash with reports claiming that Mbanefo was behind the Ponzi money doubling scheme.
Reacting to the report, Mbanefo insisted that he was an “Ordinary Participant like the over 2 million Nigerians who are participants of the MMM Nigeria.”
In a statement on Wednesday, Mbanefo recalled that on the 2nd of December 2016, majority of Nigeria media houses posted unfounded, unverified, misleading articles about him being the owner/founder of MMM Nigeria.
He wrote: “I found the articles to be hilarious and wish to use this opportunity and platform to declare the following facts:
“I am neither the Owner nor the founder of MMM Nigeria.
“I do not have any contact or acquaintance with the owner(s) or Founder(s) of MMM Nigeria.
“I did not introduce MMM to Nigeria, but am glad it came.
“I am an Ordinary Participant like the over 2 million Nigerians who are participants of MMM Nigeria.
“I registered to join MMM Nigeria on the 2nd of June 2016.
“I registered to be a guider (knowledgeable participants), and became a guider after fulfilling the requirements of the course.
“I registered and own the domain mmm-nigeria.net which expires on the 7th of June 2019 (could be extended).
“I make financial contributions (provide help) to the MMM Nigeria community like everyone else and accept all the benefits and risks like everyone else. On the 13th of October 2016, i provided help of N3,000,000. I am also a super guider (not even in the top 100) committed to helping tens of thousands of participants in the community with solution to their operational problems, including logging issue, account blocking, lifting of both temporary moratorium and removal of Google authenticator, to mention a few.
“Let me also say this; MMM by itself and left alone will run smoothly until Jesus Christ comes, but the negative attacks by the media creates unnecessary bias and fear in the minds of innocent and responsible participants, thereby breaking the organized, well thought out operational structure of any targeted MMM community, which inevitably leads to a temporary or in some cases permanent damage.
“Honestly speaking, no bank anywhere in the world can survive the nature of attacks thrown at MMM anywhere. Throw 10 percent of these attacks at any bank and see how the dawn of the next morning of the next working day will record chaos at the front gate, with thousands of account holders demanding to withdraw all their money.
“Even then the respective bank will have to manage the chaos and expectation of its disgruntled customers, by creating and presenting a structured approach toward any withdrawals. So the current freeze in place in MMM Nigeria is a structured approach towards maintaining a healthy community.
“I am a proud participant of MMM Nigeria and cannot wait to continue in January 2017. Since I joined MMM Nigeria, like the over two million Nigerians who are participants, I have benefited a lot from this divine arrangement. I am not moved of fazed by what the media say and how they have chosen to attack and destroy MMM Nigeria.
“Long Live MMM Nigeria. Long Live MMM Global. Long Live federal Republic of Nigeria, Together we change the world,” he stated.