With participants still reeling under the freezing of the operation of Mavrodi Mondial Movement (MMM) in Nigeria, another Ponzi scheme has emerged with promises of mouth-watering profits to draw fresh victims into its fold.
The new platform, which calls itself NNN, is similar in scope and operations with MMM.
“Grow your money like grass every 3 weeks,” a message on its website reads.
Just like MMM, NNN says it is not a bank but a mutual aid platform helping participants to connect needy people.
“NNN is not a bank, NNN does not collect your money, NNN is not an online business, HYIP, investment or MLM programme. NNN is a community where people help each other. NNN 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,” it said on its website.
To attract people, the scheme is promising returns higher than the MMM, which has now reportedly taken its operations to Ghana and Kenya.
Apart from offering returns as high as 35 per cent in three weeks, it also claims subscribers could earn as much as 50 per cent, claiming that some subscribers were already participating in the scheme and making money.
MMM offered Nigerians 30 per cent profit in one month.
While MMM calls its participants MAVROS, NNN investors are called NAVROS.
NNN posted video clips of some individuals who claimed to have benefited and are still participating in the scheme on its website.
The Economic and Financial Crimes Commission (EFCC), Central Bank of Nigeria (CBN) and Nigerian Deposit Insurance Corporation (NDIC) among others have warned Nigerians against participating in Ponzi schemes.
