My very close friend Olubusola Mada had some concerns she wanted to express on the MMM Phenomenon currently taking over Nigeria, so she decided to write this impassioned article on why people should not participate in the Scheme.
Read Below.
My
parents invested so much in me so that I can differentiate between the
truth and a farce, they let me know that if I’m too greedy I’ll loose my
investment funds and when an opportunity seem too juicy with seemly
little or no risk involved, I should take my time to analyze it,
escalate to people who may know about it, listen to advice before going
into it.
See
what happened with the shares we invested so much in, shares are
legitimate, the prices were raising speedily and came crashing as high
as they rose. While we were still trying to come out of that shock, the
wonder banks came to take the remaining money we had and crippled more
people financially there by impacting negatively on our productivity and
economy as a whole.
This
MMM of a thing, I heard about it sometime in Feb/March but as usual, I
don’t get involved with make quick money schemes so I declined, to my
amusement it has become the order of the day, even bankers are involved.
One can’t even breathe anymore without hearing about it. Well, The
Bible says that wide is the way of destruction but narrow is the road to
life, so who can blame them, you choose your own poison. Stop blaming
the economy, and if to you this is supposed to be your consolation for
the job promotion or business breakthrough you await, then you are just
greedy. Have you thought of how you will return moneys back and the
impact this scam is presently having and will have on our economy when
it crashes????? The major people who will earn from it won’t even stay
in the country talk less of investing the money here so what is the end
game?
Here
is my understanding of the MMM. It’s a pool where you were warned to
invest only your spare funds because even the starters know that it will
crash someday. You are meant to invest some funds by transferring the
said amount in bits into accounts provided by another individual who
have done the same. You will in turn be rewarded with 30% of your
invested sum after 30days. After you get paid, you are told to send a
thank you letter/video and if you don't, they threaten to yank you off
their system and have I told you about the fact that its something you
have to renew every 30day? This is bringing me to think its a modern day
slavery for the elites by themselves. You were told somebody in your
community is the one paying you that 30% right?, biko introduce me to
those people (most people don’t even know where its coming from). I
approached a colleague who also share my thoughts and here is what we
deduced. The 30% is not manna from heaven and neither is it being paid
by unknown persons, the 30% is being paid by the people you introduce
into the community. You introduce someone who contributes to the 30%
profit you will get and also introduce another person who does same
(Ponzi Scheme). You continually add people who also start with little
funds with every tendencies of doing more as time goes by. The
initiators have been able to create a system that can run in a circle
and makes you greedier at every investment.
Then
there are these set of people who have vowed never to get involved with
such scheme as this but will agree to allow someone take deposits into
their account. They tell you “I’m not involved o, all I provided are my
email, phone number and account number, I will get calls from
depositors, ask them to make the payments into my account and he will
give me a share of the profit, I don’t even have to invest your
funds............ (Yet)”. If you are wise enough you will know that
their game plan is not only the deposits that comes into your account
but to give you a taste of the poison and show you how to get drunk with
it for you to join in the charade soonest.
The
more you invest, the more you pay into the coffers for the people at
the top of the pyramid. Nigerians are professionals at making a blue
ocean red. We like to jump at every *raining* opportunity, even the
bible warned you from getting swindled by every wave of doctrine. Do you
have to dive into every masked pond?
This
community has become a leech to our nation and getting larger no thanks
to the people feeding it with money. The people at the peak get richer
and the lower cadre gets more risky. After all, it’s the lower cadre
paying your supposed 30% profit. And like a leech, when and if this ever
crashes, what’s going to be the impact on our economy? Is this going to
kill us? Or has MMM come to stay? Oh you are one of those people who
said “let me get my money and cash out before it crashes”? How smart do
you sound?
I’ll
probably loose friends after this post but I just have to do this
because of the love I have for you. Don’t let anyone use money to play
on your intelligence and if they did, you allowed them. Stay away from
the norm. Make money you can be proud of, Think!
N.B:
Did I mention how aggressive and violent the people who are investing
in this scheme are? I'm beginning to wonder the type of spirit behind
the MMM, a friend said MMM=666, I couldn't agree more.
Dakkys Note:
I love the author of this post but my thing is most people who are neck deep in MMM and other Ponzi schemes actually know the risks involved but they don,t care, its like those poor guys in rural areas who take buckets to scoop fuel in pipelines, do they know its dangerous ? of course they do but hunger is a stronger force.
CBN has warned Nigerians, EFCC, all sorts but at the end of the day adults have freewill, with the returns people are making from this scheme mehn i don't blame anybody.
What do you guys think MMM or not? drop your comments below.
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