MMM founder writes Buhari, says ‘you know nothing about our system’

According to the News Agency of Nigeria (NAN), it reports that the letter was displayed on the page of all participants of the scheme.

Mavrodi warned the federal government that if the Ponzi scheme collapses, millions of Nigerians will suffer, noting that “MMM is their only means of livelihood”.

He stated that the money being made from the scheme was being redistributed among Nigerians as a way of “restoring social justice”.

The letter reads in part: “So far MMM has come under a constant attack from you. In this regard, I would like to ask you a few simple questions. Since you are concerned with the interests of millions of your fellow citizens, I hope that you would be so kind to answer them.

“What are you trying to get? Do you want the MMM System to collapse and millions of people to suffer? Who will support them then if now MMM is their only means of livelihood? Will you? You even don’t pay wages to people? Or might you not care about them? Might you be using a trendy topic to make a good name for yourselves? What will you say to a mother who will have no money to buy food for her child? Will you let her child die for the sake of the higher interests of the economy?

“You say that MMM is a scam. What is the scam here, if all members are warned in advance about all the risks, the possible and impossible ones? They know there are no investments at all. The warning is a red text on a yellow background placed on most prominent place of the website.

“You say that MMM is bad. Why? Yes, it produces nothing, but nothing gets out of the country either. The money is just redistributed among the citizens of Nigeria. It gets from those who are richer to poorer ones, in this way restoring social justice. What’s wrong with that?

“You have repeatedly stated that “it should be investigated!.. researched!..” It means you know nothing about this System yet; you even haven’t understood how it works.

“And finally. If you know what is right for people, why is the life so bad in the country?”

He further noted that the MMM “has been working in Nigeria for a year, and according to your estimates, the total number of members now is about 3 million people”.

The Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN) have previously warned Nigerians against participating in the scheme while the house of representatives also ordered an investigation into the operation of the scheme, in October.

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14 Comments

  1. This na slap on our face oo.. imagine what the guy is uttering out..

    Mavrodi warned the federal government that if the Ponzi scheme collapses, millions of Nigerians will suffer, noting that “MMM is their only means of livelihood”.

  2. The guy is damn stupid for addressing a nation leader like that. No matter how bad it may be, u ar not a nigerian and we cannot allow u to say all that rubbish to our president. if ur dad is not gud, that does not warrant your friends to be insulting him

    • You are a joker, when former British prime minister openly referred to Nigeria as FANTASTICALLY CORRUPT” were you deaf? what did you do to him. Na the one wey Mavrodi talk una go here….rubbish.

  3. If this is truly from Mavrodi and I don’t believe it is, it smacks of foolishness. Go online and see millions of criticisms facing various businesses and nobody really bothers. If you have something as genuine as you claim, why won’t you let posterity speak for you. Obviously MMM has a lot of small minds making plenty money and have no sense. It is disappointing that Mavrodi will allow this.

  4. Every sensible Nigerians will see that Nigerian Government has no working plan for its people. Just imagine of all the problems with Nigerian politicians, its MMM they can be talking about. There are hundreds of such schemes online but because MMM is the most authentic they now want to prevent unemployed youths from benefiting when the southAfrican president asked all unemployed youths to embrace MMM . All those condemning MMM know nothing about MMM ideology. God bless sergey Mavrodi

  5. Religiously it is not welcome but Economically one has to embrace MMM. I don’t know what concerns a government that cannot cater for her citizen with MMM the only Money Making Machine for the citizen. It’s better to collect interest that ritual from religious aspect of view

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