My Take on the Cancer Called MMM


What do you do when your brother, sister, a very dear friend is involved in MMM and your girlfriend is making enquiries (though she’s asking to know more in order to help convince some people not to join)?

That is my predicament at the moment. I estimate that several thousand Nigerians are in a similar situation as me: How do you make your loved ones see the danger ahead? So, I decided to start with this post. If you find it useful, please share to help someone out there save his or her money and mind. If you disagree with it, write me back and let’s have some intelligent conversation.

Shall we begin?

So, what’s MMM?

In their own exact words:

“MMM is not a bank, MMM does not collect your money, MMM is not an online business, HYIP, investment or MLM program. MMM is a community where people help each other. MMM gives you a technical platform which helps millions of participants worldwide to connect those who NEED help to those who are ready to PROVIDE help, for FREE”

So, they say it’s a platform where you can “help” someone who needs money and when you need money, you can ask for “help”. They position it as a “Social Financial Network” (whatever that means!). They make you think you are “giving help”. If you are actually giving help why earn 30% monthly on it?

They make it look it it’s a legitimate business yet the first sentence in the legality section on their website reads:

“There is no formal organization, no legal person in MMM”

How Does It Work?

You register.

Then you can either “get help” or “provide help”. When you “provide help” it means that you transfer your own money to another participant who has requested for help. You get confirmed only after you provide help. When you request for help, you are going to be paid by another participant who has been asked to provide you with that help.

That is the technical aspect of the “game”.

The real side of the game is the play on human emotions.

First they position the banks and the banking system as evil (they may be right depending on which side of the divide you are on).

Second, they promise astronomical returns! A whole 30% per month. Even “blood money” doesn’t work that way!

Thirdly, they make you think you are “helping” someone. A 30% charge on help sounds more Shylock than Mother Theresa.

Let me help you understand it. If you “invest” N500,000 and re-invest both principal and interest, by the end of 12 months you will have N11.7m. Do you understand that? Put in N1m and you have N23m by the end of the 12th month. You can retire on that. Why resume at one stupid office every morning?

What Happens When Someone Fails to Give Help?

He or she will be blocked permanently from the system. Not very comforting to me.

Is it Legal?

In this era of internet everything, what exactly is legal or illegal? I can create multiple profiles. I can choose to be a male in some and a female in others. I can setup a website in the comfort of my bedroom and call it anything.

But the question isn’t about legality. Does it have to illegal to be fraudulent?

Will it Crash?

Unfortunately, I don’t know. Do I think it will crash? Y.E.S…


Again, I don’t know. But this is what I know: a fraudster is always 1 step ahead of the sheep.

But it is my Money…

That I know. But in a country where it is illegal to kill yourself, I think we owe you a duty to save you from financial suicide that might lead to actual suicide.

More Questions for MMM Belivers…

  • Where does your 30% come from?
  • How long can the system sustain itself?
  • Have you not heard of “Wonder Banks”? Ponzi Schemes?
  • What Product is being manufactured?
  • Any services rendered to generate a guaranteed 30% return?
  • Don’t you think that someone timed this recession to play on your emotions? (It came into Nigeria around July 2015 but only increased in popularity with increasing torture of the current recession)
  • How are the owners of the platform making money? Maintaining and hosting the site? Paying staff?
  • Is this a permanent solution to your financial situation?
  • Does it have to be illegal to be fraudulent?
  • Hasn’t it crashed somewhere else?
  • Why are the citizens of Russia, Kazakhstan and Belarus NOT allowed to participate?
  • Have you read the “Warning”? Are you not scared of it (or at least concerned)?
  • If you are giving help, why do you need to recruit people to register under you (as in a pyramid)?
  • Is the company registered in Nigeria?
  • More of similar schemes are springing up. Have you heard of Givers Forum that promises 40% return per month?
  • What will happen when more people ask for help than the number willing to give help?

Can anyone help me out here, please? I have more questions than answers.  Our lawmakers need to act fast.

#MMM #Banks #PonziScheme #Savings #Fraud #Greed


Source: My Take on the Cancer Called MMM | Nnamdi Azodo | Pulse | LinkedIn.