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FG orders EFCC to arrest MMM promoters, operators in Nigeria

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The House of Representatives on Wednesday asked the Economic and Financial Crimes Commission, EFCC to go after the promoters of the Mavrodi Mondial Moneybox, otherwise known as MMM, in the country.

While condemning the scheme, the federal lawmakers ordered the EFCC and the Central Bank of Nigeria to take urgent steps to halt the scheme before many Nigerians would become victims.

The Chairman, House Committee on Telecommunications, Mr. Saheed Fijabi, had in a motion, drawn the attention of lawmakers to the growing popularity of the scheme among the citizens, reports Punch.

“The scheme entered the Nigerian circle in 2016, capitalising on the high level of unemployment and poverty to deceive unwary Nigerians into falling prey to the antics of the promoters,” Fijabi stated.

He said the fact that the MMM was not regulated by law or approved by the CBN as a secured business venture made Nigerians more vulnerable.

Daily Trust, November 10

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