I was not particularly enthusiastic about MMM and dismissed it as a Pyramid scheme when it was presented to me as an investment opportunity months ago. I was also swamped with work, sometimes working for 36-48 hours at a stretch. I hardly had time for other aspects of my life apart from work. A few months later, workers in my establishment embarked on a strike and so I took a much needed trip to visit a friend in Lagos.

On entering Lagos, I was immediately greeted by the hustle and bustle which came along with the infectious spirit of hustling, money making started hitting me left, right and centre, this economic milieu was miles apart from my town where life moves at a ‘snail’ pace. I got to know about investment opportunities I was previously unaware of such as über. I was also reminded of MMM, which I had previously waved off. I got interested when my friend’s pastor claimed to have made one million naira from the scheme. Now, I do not trust pastors, in fact I immensely dislike three professions, I call them the 3 Ps (Policemen, Pastors and Politicians). But this guy despite being a Pastor, was saying the truth. He had made money, real cash. So I did what every normal person would do, I went online and did a lot of research on MMM, Ponzi schemes and cons in general. Wikipedia was very helpful in this regard. But I still wasn’t convinced and didn’t even have any free cash to experiment with.

When I returned to my town, I discovered to my chagrin that my flat mates had already invested money in the scheme, one had pledged 180k and was due to receive 256k after thirty days. I also discovered the ‘pledged’ sum was still sitting in his account because he had not been paired, and this was the twentieth day. Evidently, a lot of people were seeking to provide help, way more than those receiving help. So, I came to the conclusion that this Ponzi scheme was still in it’s safe period.

So, now aware of the risks and benefits, I concluded that the benefits outweighed the risks and decided to invest. Of course, the lady who convinced me was delighted as ten percent of whatever sum I put in automatically became hers courtesy a ten percent referral bonus. I decided to invest 100k and then the long wait to getting paired began. I had to wait for 23 days, before I was paired to pay in the sum of 34k into one account and 66k into another account. Then, I developed cold feet, 100k is not so  little. It took a call from the lady to convince me to transfer the money to the paired accounts. I even almost got into a bit of trouble and risked getting expelled from the system because I was having issues with the bank transfer for the second recipient. I called him to inform him about the difficulty, but he turned out to be an asshole and told me he wasn’t going to extend the 48 hour window. I guess he probably thought I was trying to play a fast one on him, anyway I had to transfer the cash to someone else’s account and that fellow helped me with the transfer.

I wasn’t under any tension particularly, since I had to wait for just one week to get my money and profits back. But two days into the waiting period, my sister sent me a link about MMM crashing in Zimbabwe. I had heard of the scheme having problems in Zimbabwe, but I didn’t know it had crashed. It occurred to me then that panic withdrawals could result in an instant crash and even those who had pledged to pay money wouldn’t honour their pledges resulting in a shutdown of the scheme. I hadn’t thought of this  angle and this made me weak, but I summoned the little strength I had left and logged onto the website. I discovered the site was still up and that I already had 26k in addition to the 100k I deposited. So, I clicked the ‘Get help’ button to withdraw all my cash and to my relief I was immediately paired with someone who was to pay me the sum of 126k within 48 hours. For the first 36 hours, I was really bothered because I kept waiting for an alert that never came. When I discussed this with my referrer I discovered that I would have to call whoever I was paired with. So, I made the call and ‘voila’ in 2 hours I was paid 126k. I confirmed the payment on the site and that was the end of the transaction.  I hadn’t felt so relieved in a long while, the feeling was akin to peeing after holding on to it for a long while. It felt good!

In retrospect, I believe I should have put in a smaller sum, say 50k. Also I regret not waiting, as I lost out on 14k in the process but I saved myself a lot of heartache. I am convinced the scheme is not for the faint hearted and it is not a means to double your life savings. I suggest anyone adventurous enough to get involved should only put in cash they can afford to lose. As far as Ponzi schemes go, this is the most organised I’ve come across. But some Nigerians as always are playing smart games and have turned it into a full time gig, operating multiple accounts, taking advantage of the long waiting time to triple or even quadruple their profits, this may lead to a premature crash. Also, organisations not benefitting could easily sponsor bloggers and social media promoters to promote negative news about it, thereby catalysing a crash. For now, I’ll just sit back, I have tested the waters, but I do not want to get hooked. I’ll stay off and find something less risky to invest spare cash in.


  1. Miss A
    Hmmm good advice..I did it with 20k and I was paired like the 25th day…I collected 32k and decided to stay off it…you never know when it would crash..I no like stories that touch..the guy that introduced me to it did 400k. I told him, it’s people like him that would make it crash soon. Anyway it’s for the strong at heart and you can’t bank on not being paired soon.
  2. Ucheya
    I thought it was a scam the first time I heard it; I looked at it from afar and asked all the questions Nigerian could ask. I was sceptical about it still. Not until almost everyone in my office started smiling to the bank courtesy MMM that I had a second thought.

    Right now, the ‘virus’ seem infectious and I just feel there’s nothing we can do about it.

    My Advice: enjoy it while it lasts.

  3. Hephie Brown
    I swear almost everyone in my office too is smiling to the bank and I am happy for them. But I cant do it. I lose 1000 and my brain takes 2 weeks to forgive myself. I hear Access Bank has very good rate on their fixed deposit. I dont know how much, I dont work there and I havent fixed it yet but Ill probably do so this week. F.D is safer and slow and steady is good. Greed, is bed.
    1. Alexandra
      I can always fix u up wt a better way to earn dt isn’t MMM.. you can always reach me on 07030992977..I m just a play it safe entrepreneur lyk u
  4. Sane
    i know someone that does 10,000000 yea ten million every month and has collected 9million in profit as this is his third month.
    I did 100 and cashing out my capital and will reinvest the profit. If it crashes i have nothing to loose.
    1. Isibor
      But if everyone keeps reinvesting in the scheme after cashing out, what’s the probability of it crashing? Everyone I know apart from me keeps reinvesting.
      1. sane
        Dont know. Cant see the future but it is a gamble i am willing to take. I only put in spare money i know i can spare and laugh at my stupidity if it crashes
        1. Oledibe Chimaobi Calistus
          It won’t crash yet until the number of new members depreciates.
          Enjoy while it last. I don’t have any urge to embark on this trade.
  5. Redhot
    At the risk of sounding like one oversabi ITK, it’s really astonishing that people actually know about this scheme and still go ahead. My elder brother got burnt very badly during the “wonder- bank” era and as a first hand witness of all the ish that went down, you won’t catch me dead around one of these get rich quick schemes.

    Truth is that only the early investors get their monies back and suffice to say are the major reason why millions will eventually lose their hard earned money later on when it crashes.

    Recession notwithstanding, Please be wise. Naira is hard enough to come by talk less of parting foolishly with it.

  6. Cornerstone
    “”Now, I do not trust pastors, in fact I immensely dislike three professions, I call them the 3 Ps (Policemen, Pastors and Politicians).””
    1. Cornerstone
      Being a pastor should not a profession rather a calling. Comparing pastors to the other 2 Ps is rather deroratory to divine calling. Maybe you should open your heart more and focus on unprofessional pastors and what God is achieving through them.
      1. Isibor
        I think your comment is contradictory….*focus on unprofessional pastors*…lemme just hope this is a typo, or better still maybe i don’t get your point if view.
  7. OluOlu
    When I was serving in 2009 in Taraba state, I was living on a Corper’s salary of N9, 775 plus N2, 000 from my PPA. I built my lifestyle around my income and I was doing just fine, engaging in any additional hustle that would boost my income.

    Some months down the line, I went for a family function and came back with a windfall of N30, 000. The wonder banks were waiting for me. I calculated the ‘returns’ on investment and by my daily (became almost hourly) permutations, I was going to leave Taraba with N180, 000!

    I will skip the story of the sleepless nights and the heartaches, the daily visits to the empty ‘investment office’, the calls to numbers that were perpetually busy or switched off and the slow and painful realisation that I allowed my greed to lead me, eyes open, into a scam and go straight to the lesson I learnt.

    Godliness with contentment is great gain. I still invest in profitable ventures, but I run away from unusual and abnormal profit. As for MMM, I refuse to be misled by the people around me who seem to be making it. I will not put my money into a well-known ponzi scheme…
    …once beaten, forever shy.

  8. cleo
    MMM, not my calling. I will rather sell bread than do an MMM. Christmas is coming. The scheme will soon go on winter break. if it is not money you can throw away. Keep your money in the bank or fixed deposit.
  9. wuraola
    Its obviously a ponzi scheme, like all others before, it relies heavily on new money..as long as this happens, older ‘members’ will continue making money until they run out of willing participants….its been banned in a few countries, i wonder why :-/
  10. Seth
    To your information ponzi schemes are illegal in Europe. The closest to a ponzi scheme is multi-level marketing also known as network marketing. Network marketing such as Amway or Herbal life are legal but ponzi schemes are illegal.
    In the UK for example, any scheme that doesn’t sell any product but based on paying money into a scheme in order to double or quadruple your investment is illegal period. The reason it is illegal is that no matter how lucrative it looks it will ultimately crashed. The more successful the scheme is the more susceptible it is to crashing ultimately. These ponzi schemes come in different forms. Even if it is a financial institution offering excessively high interest rates to attract more investors it is bound to crash because such levels of repayments are not sustainable. There are several examples world wide of such schemes crashing so don’t be fooled. If it sounds too good to be true even if some people have benefited from it the chance is that it will eventually crash.
  11. Kambili M.A. Chimalu
    The nature of this kind of scam is that the first set of people to buy into the idea will make money. However, when the last wave of people wanting to get a piece 0f the pie buy into the pipe dream, they will be the ones to eventually lose ALL their money.

    There is no investments being made in this scheme, no goods or services being provided. This is NOT sustainable. It will eventually run out of people and that is when the gnashing of teeth will begin.

    1. Clement Essien
      It won’t run out peeps, because humans are greedy. The system is not sustainable, instead of running out of people, it won’t be able to pay all. Because it lacks rules to run a proper crow funding.
      There is a system that is doing that perfectly and very sustainable , and they are new to naija, if you are interested contact. 08080202089
  12. Cheekayy
    I think I am the only one in Nigeria who have not for once, thought of ‘testing the waters’. I rejoice with every person that reaps and wish those yet to best of luck.
    1. Sunshine
      Nope… you’re not the only one. I have not and will not. I remember my mum was burnt in the last one that came by although it was a very small sum, she made sure to tell us that any scheme that promises to quadruple your money without you doing anything at all is a scam. Only a greedy person tries to have money they didn’t work for…

      I wish all the “investors” best of luck…

  13. Aigbe
    So much fear and negativity.

    The only thing that can cause MMM to “crash” is when people panic and demand is more than supply (and in that case the system doesn’t crash it’ll pause until an equilibrium is reached before it picks up again ie only interest is lost, capital remains) .
    It’s not much different from banks. Banks also rely on new money to function hence advertising and promotions. Banks crashes too. The only thing that’s different is that the banks have successfully created a monopoly. Making it impossible for panic media to be taken seriously. The banks lock your money down and use it to give loans with outrageous interest and give you little interest on your savings and investments while keeping the rest. Isn’t that the service the banks provides? That’s not a scam right?

    If you go to MMM Zimbabwe website you’d see it’s still running and it has actually not crashed. From my research they only reduced their profits from 100% to 20% which is not a loss but less gains.

    The people that want MMM to fail will use the simplest change in the system to preach calamity.

    Anyway from your post I can tell you’ve personally not had any negative feedback from MMM. It’s fear of the unknown that chased you away.

    One might be wondering why I’m so PRO-MMM, it’s probably because having been through the rigorous Guider’s School, I understand the system and have faith in it.
    My perception about money has changed so much that I don’t feel like I’m in bondage. It’s not that serious.
    Isn’t money of our time just paper and numbers you see on an online account? Your physical cash in the bank is non-existent. If the computer program that handles financial matters has a glitch and resets won’t all your money disappear? Gone are the days where you can point at your bar of gold with your name on it.

    Ever wonder why we evolved from “trade by barter” to using valuable raw materials to using cheap paper? My theory is that this evolution is making the originators richer and the followers poorer. They lose that power when everyone is rich and not a selected few.

    I watched somewhere where a man asked “why is it that the banks will give mortgage loans, car loans, student loans so freely but they won’t give business loans? A business that’ll make you financially independent”

    MMMs ideology is simply to have financial equality. It obviously won’t be easy cause unusual opportunities are hard to believe until it becomes common.

    Forgive my bants. I’m passionate about what I believe in.

    Some people will abuse me now and call me a scammer. Lol. I come with nothing but love. It is well. One man’s meat perhaps?

    1. Larz
      This is not even closely to a bank. Banks have a product in lending. MMM is not in the lending process. I would be less uncomfortable if money is paired with someone using it to invest in money like crowdfunding or something. But in this case it isn’t. You get your money from new suckers into the scheme. Your analysis never losing your capital is also wrong. Let’s keep it simple. If only 5 ppl invested 100 naira each at 20%.
      P1 gets back 120 (380 left in pot)
      P2 gets back 120 (260 left)
      P3 gets 120 (140 left)
      P4 gets 120 (20 left)
      P5 loses 80 naira

      I know some “sharp” ppl will be ok with this as long as they get their money back. All I will say is this, your winning now will result in someone else losing their money/ life savings in the future. Are you happy to be a part / even enable a system that aims to defraud and rob ppl of their cash?

      1. Aigbe
        Your analysis is ignorant cause MMM doesn’t work like a central account(no such thing as a pot) . As long as number 1 through 4 after collecting his money is willing to, he can give no 5. It is when no 1-4 doesn’t help that no 5 loses. It’s spare money one is advised to give. Not your life savings.

        You’d notice from the writer’s post that she didn’t collect her money back from MMM but from another participant. MMM just connects you to the people who need your financial assistance and your reward for helping is a bonus of 30%. You transact directly with that person not with MMM. So the MMM is all about lending.

        They don’t require “new suckers” to survive, only people that believe in the system of helping each other. They require regular “provide help” and “get help” within the system to keep everyone happy.

        Where you guys get this “old participants feeding off new” idea is amusing. Every participant feeds off each other. Not old. Not new.

        You shouldn’t knock a thing before you try it. You’ve obviously not been properly informed or seen how it works. Just hearsay you’re portraying.

        1. Larz
          You have done your research, and I have done mine.

          Yours led you to believe it is a lucrative deal and mine led me to believe it isn’t.

          I have expressed my analysis on how I think it works in simple terms. You should do the same. Pls explain how it works in simple terms using limited # of people and resources

        2. Seyi
          Ok bros. Going by your information if the other four players decide not to help after getting their money nko? What happens? No new person to join or what if someone joins and the most he wants to help with is smaller than what is to be paid to P5? Also how will P6 be paid? Because whether you like it or not someone or some people will be left at the base eventually with no money. That’s the ‘old’ and ‘new’ investors referred to
      2. Clement Essien
        You forgot that p1-p4 will reinvest, crowd funding when run perfectly pays all cause it is a loop. All it needs is old reinvesting and new investing.
        Personally I don’t like mmm, because there are no rules, to ensure steady cash. But the is a new a better crowd funding that does this. If you wanna know or join, text 08080202089!
        1. Larz
          Funny how both you and are quick to tell me how wrong I am without attempting to provide an alternative explanation

          You might be right, so how about you educate me (and anyone else interested). Afterall, this works best if you get more ppl in, who knows your explanation might just convince me. Unless of course, you don’t know how to explain it.

    2. D.K
      Nope. Mmm is not like a bank. Just as you have read the guides on mmm, I suggest you do the same for a bank. They are totally different entities.
    3. Andronicus
      Banks are mandatorily insured by the National Deposit Insurance Corporation (NDIC) to ensure that everybody’s money is protected in the bank in case it fails.
      You are quoting what is contained on the MMM website. Where does the interest come from by the way? Since MMM does not invest people’s money like banks do?
      Why isn’t it popular in more developed counties since it is so good. Why African countries and India? Why focus on poor/developing countries?
      Can you sue MMM if something happens to your money? Who do you sue?
      Did you know that the MMM founder is a convicted criminal in Russia? Where is he presently? Do you think he’s in hiding?
      Do you know that an ex-convict especially for financial crimes is forbidden from handling people’s money? Heck an ex-convict cannot be a Director in his mother’s akara processing company.
      Scams just like hard drugs always feel good until they don’t.
      White people scam us Africans more than our infamous Yahoo boys have ever dreamt of.
      1. Clement Essien
        You are asking the wrong question mate, do a lil indepth research. I am not a proponent of the scheme, I know valid answer to your question. You need to understand it.
    4. Clement Essien
      My only problem is that mmm lacks sustainability, too much money leaves the system than I gets in to the system, the are no rules on recommitence , you as a guilder will seat and make money on bonuses without invest you cash in the system. On the long run mmm enters pause mode. But the God there is an alternative, a system that is more sustainable and has rules, only serious people are wanted. If you are interested contact 08080202089
  14. Onyedika
    So, MMM didn’t fail you, eh? You got back your 100k, with the surplus interest. Nice. Na risk sha. Yes, money making is all about risk. I go invest invest my money too.


  15. Larz
    And to the pastor that was advocating this scheme, he has kind of shown his hand with regards to greed. I just see how any one that claims to be of God will be comfortable with this.
    1. Isibor
      Articles on scams are never enough. Most people I’ve talked to are hooked on MMM, they keep giving help month after month. The schehe’s attrition is quite low . It’s like an addiction and I hate getting addicted to anything, that’s another reason why I dropped out.
  16. Dee
    Money given out is an exchange for value, else, the value of the money depreciates.
    What value do you offer when you give your money to mmm, that you are happy ypu receive money in return.
    Can you give me money if i don’t sell something to you, work for you or have to pay you back?
    At least, we know banks use our money to do business (offer services) and give us our share, even if its little.
    What value is the money you put in mmm creating?
  17. Seyi
    To those saying mmm doesn’t have a central pocket please how does mmm run it’s operations? At least they have should have few people working for them? And numerous other little things that’ll make this thing work. How do they pay for these things and people? Where do they get the money? One mmm advocate said the initial investor is doing it out of his pocket since it is also a way of helping someone. Na so I hear you.
    I invest my money into BTD that uses it for forex. Forex is delicate but not illegal. The company is a Nigerian company with a physical office, has customer service agents and most of all is INSURED. I know what my money is used for and I understand how it can generate interest for me.
    1. Clement Essien
      The mmm scheme train guiders to work for them, these guiders make so much money, for me they are a burden to the system, as they don’t invest any thing back.
  18. Clement Essien
    MMM is not sustainable because there are no rules, please join Gethelpworldwide to enjoy crowd funding for serious people. For more info SMS or whatsapp me 08080202089
    1. Aigbe
      There’s a rule that says participants must put back in 40% of what they get out to regulate that flaw. So if they’re going to be collecting so much money as bonuses, they should putting in at least 40% of that amount or account will be on suspension. This is a recent development though, as well as a penalty for leaving your money for more than 30 days in the guise of collecting more. – [email protected]
      1. Clement Essien
        Yes I heard about that, in a recent guiders meeting with Mavrodi’s…. But they still need to do more… Mmm is trying to copy the system I mentioned.
  19. T
    Please not fixed deposit. Buy Treasury bills or dollars to resell. TBills rates are about 16 – 18% and the naira will appreciate in Dec to depreciate in Jan.
  20. Coinman
    Frankly I see it as a risk worth taking, especially if you have more referrals because in that case you don’t have to invest much of your own money. I was suspended during my first try after paying out some money to random people. You can imagine my anxiety. I eventually discovered it was a result of editing my account details. So now I know the golden rule to help you stay out of trouble under mmm is to avoid editing any of your details unnecessarily. Long story short I cashed out significantly and have downliners participating under me thus increasing my bonus. I’ve upgraded my home gadgets and acquired other tangible stuff. Even about to cop a new car… because I say to myself if it crashed tomorrow I could point to stuff it got me. I try to ‘invest’ with caution. Life is too full of risks after all.

    If I make N5m and lose 500k during its crash I won’t shed a tear :).

    1. Kells
      Clearing. Essien how can you come in public and critisize mmm, say all manner of how you dislike mmm, why is it that its the government and Bank, and politicians are after this God sent mmm? Mmm is perfectly working in USA and european countries even china that was said its been bann by the government yet as at last month there members in china still get paid, i learnt here online mmm south africa was shut down but i have a friend there who still get help, just that if you apply for get help it might stay for a month to two months before getting help. So why all these counter attack on mmm by bloggers sponsored by financial institutions its just amazing. Just registered but haven’t join a guilder who got me sign up always provide help every months to amount of 3million this is his 4th month now as a matter of fact he just bought his land from blue seal foundation. Me still waiting to be paired. So my advice is if you dont like mmm better just Let them be. Back at you Essien clement why are you giving out your number online, you want a private conversation right why dont you share any investments plan you feel is better mmm than critisizing mmm only to present ur secrete investments company i call this scam. If you think the one you knw is good share thank you sorry if my words get you upset. Again mmm have central account where you pay in money like say company account its only link participant i wonder why this is a problem to people. My testimonies loading…. Call me names but am just been realistic also make your research. Cus i have been reading about mmm since the past three months and about the founder too mavrodi a russian man whose intensions is to make this world a better place, some will call him a fraud star but before concluding just research on wikipadia about. The government will call him scammer cus in russia participant Stop putting money in the Bank and its really affected the financial institutions. Abeg oga mavrodi try and make provision to give government there returns cus Banks does it. Anyi oga hapu ebeana eshi ozor magawa ebeana aru agwu mbanu. Umunna put what you can forget if you dont have the mind to state big. Thanx!

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