Despite the call by Nigeria’s House of Representatives for
the country’s financial regulator and law enforcement agencies to crack down on
pyramid financial scheme called MMM, members of the community across the
country have celebrated the first anniversary of the scheme with donations to
Internally Displaced Persons (IDPs) and other indigent people.
A member of the country’s lower chamber, Akinlade Fijabi
from Oyo State, who raised the matter in a motion of urgent national importance
described MMM as a ‘Rob Peter to Pay Paul Scheme’.
PREMIUM TIMES reported how, after deliberations, The House,
asked law enforcement and regulatory agencies to clamp down on the promoters of
MMM.
Some Nigerians have also described the scheme as a Ponzi
destined to go burst. But the number of Nigerians participating in the scheme
has continued to grow exponentially. There are now over 2 million active
members of the scheme in the country.
As the scheme, which its participants like to refer to as “a
community of mutual aid and donation exchange” marked its first anniversary on
Friday, members across the country donated cash and relief materials to the
less privileged.
The News Agency of Nigeria (NAN) reports that members of the
MMM community as part of its humanitarian week tagged, “MMM Cares” donated
relief materials to IDPs at the Gwoza and Bama Camps in Abuja.
The group donated bag of rice, garri, cartons of beverages
and noodles as well as clothing, and drugs.
Seyi Bello, a Guilder in the ‘MMM Community’ said they were
driven to make the donation by their desire to affect the society positively
and help the less-privileged.
Source:Premium Times Nigeria
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