The YNaija Cover &#8211; the 17th of May

The Late 5: MMM founder, Mavrodi dies at 62, PDP apologises to Nigerians, and other top stories

These are the top five Nigerian stories that drove conversation today. Benue State governor, Samuel Ortom on Monday said the call for the declaration of a state of emergency in Benue and one other state by the leadership of Miyetti Allah is untenable. The governor, in a statement issued by his media adviser, Tahav Agerzua,... Read More

Featured

Goodluck Jonathan, kemi Adeosun, mmm, Samuel Ortom, Sergei Mavrodi

March 26, 2018

MMM founder, Sergei Mavrodi dies at 62

Russian businessman, Sergei Panteleevich Mavrodi, whose pyramid scheme deprived millions, including Nigerians who lost billions, of their savings has died, aged 62. According to reports by Russian media, Mavrodi was rushed to the hospital March 25 and died hours later. Described as a Russian criminal and a former deputy of the State Duma, Mavrodi founded the МММ series... Read More

mmm, Sergei Panteleevich Mavrodi

August 3, 2017

The Late 5: These are the stories that drove conversation today

These are the top five stories that drove conversation today. KOGI ASSEMBLY SPEAKER RESIGNS Following the attack by suspected hoodlums, the Speaker of the Kogi State House of Assembly, Umar Imam has resigned. 2. TAX WILL BE PLACED ON FIRST CLASS, BUSINESS CLASS TICKETS, LUXURY GOODS – ADEOSUN Minister of finance, Kemi Adeosun says the Federal... Read More

Featured

Kogi Assembly, mmm, neymar, psg, The Late 5

August 3, 2017

The return of MMM: Could this be yet another scam?

by Wareez Odunayo Russian world’s largest Ponzi schemes of all time Mavrodi Mundial Moneybox, MMM participants have reason to smile again as the Ponzi scheme is set to bounce back after it collapsed months ago. The Ponzi scheme has unveiled a weekly promotional stunt, targeted at gaining the audience of old and prospective participants. The... Read More

mmm, return, scam

August 3, 2017

MMM returns with new strategy to woo Nigerians

Popular ponzi scheme, Mavrodi Mundial Moneybox (MMM) has launched a promotion campaign after collapsing few months ago. The scheme displayed a letter on the dashboard of participants, urging them to invite new members. It has launched a contest among participants, where they can win cash prizes between N30,000 and N500,000 for inviting new participants and... Read More

Investors, Mavro, mmm, nigerians, promotion, return, Strategy

May 18, 2017

MMM: Trader arraigned for investing customer’s money

by Omoleye Omoruyi Chukwuebuka Ezengwu, 21, who allegedly staked N286,600 sent to him by customers into the Mavrodi Mondial Movement (MMM) ponzi scheme was arraigned on Thursday in Lagos. Ezengwu, who appeared before a Magistrates’ Court, is facing a two-count charge of fraud and theft. He however pleaded not guilty to the charges. The Prosecutor,... Read More

investment, mmm, trading

May 6, 2017

How I lost N25 million to MMM – Mc Galaxy

by Azeez Adeniyi Singer and dancer, MC Galaxy has said he lost N25 million to ponzi scheme, MMM. In an interview with PremiumTimes, the singer said his manager convinced him to invest in the scheme. He added that his loss was one of the reasons why he named his second album MMM. He said, “It... Read More

MC Galaxy, mmm, N25m, second album

March 4, 2017

N18bn MMM loss, N3.5m donation | The 5 numbers that mattered this week

N1.3million – A suspected Boko Haram terrorist was found carrying this amount of cash and was arrested by the Nigerian Army in Borno while he was trying to gain entrance into an IDP camp in the area. N18billion – The Nigerian Deposit Insurance Corporation (NDIC) revealed that three million Nigerians lost this amount to Ponzi scheme,... Read More

Featured, The News Blog

2baba, boko haram, donation, IDP, Kogi State, mmm, Osun State University, school fees, UNHCR, Whistleblower

March 2, 2017

3 million Nigerians lost 18 billion to MMM: here’s how that happened

The Managing Director of the Nigerian Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim has just made the claim that about 3 million Nigerians lost a total of 18 billion Naira to the MMM scheme. A scheme that sneaked in on Nigerians in a year of need #2016 and promised to give help – monetary –... Read More

Buharinomics, mmm, NDIC, Ponzi Scheme, recession

March 2, 2017

We never learn: Nigerians lost N18bn to MMM, and now we’re looping in our losses

Did we see this crash coming? Yes, sure. Did MMM participants also see it coming? Hell yeah, they all did. But because Nigerians are built to be tough and unrelenting, they stuck their necks in this made-to-crash-from-the-start Ponzi scheme knowing full well what was to come and look where we are now. The Nigerian Deposit... Read More

investment, loopers club, mmm, NDIC, nigeria, Ponzi Scheme

March 2, 2017

3 million Nigerians lost N18bn to MMM – NDIC

by Dolapo Adelana The Nigerian Deposit Insurance Corporation (NDIC) has said about three million Nigerians lost N18 billion to Ponzi scheme, Mavrodi Mundial Moneybox, popularly called (MMM). The Managing Director of the Corporation, Alhaji Umaru Ibrahim, stated this while speaking at the ongoing 38th Kaduna International Trade Fair on Thursday. Ibrahim, who was by the... Read More

3 million Nigerians, Alhaji Hadi Suleiman, Alhaji Umaru Ibrahim, CBN, mmm, N18bn, NDIC, Ponzi Scheme, Wonder banks

February 23, 2017

The Late 5: These are the stories that drove conversations today

by Dolapo Adelana These are the top five stories that drove conversations today. 1. Osinbajo pays surprise visit to Lagos Airport, inspects facilities (WATCH) Acting President Yemi Osinbajo Thursday paid a surprised visit to the Murtala Muhammed International Airport where he inspected the airport’s facilities. 2. Xenophobia: Protesters attack MTN head office in Abuja Disheartened by the continuous... Read More

Featured, The News Blog

attacks, BB Naija, DSTV, gifty, mmm, MTN, Murtala Muhammed International Airport, NANS, Shoprite, The Late 5, Xenophobia, Yemi Osinbajo

February 23, 2017

MMM introduces new rules, to freeze participants’ accounts again

by Azeez Adeniyi Ponzi scheme, Mavrodi Mondial Moneybox popularly known as MMM has once again anounce that it would freeze accounts of participants and introduce new rules. In a statement released on Wednesday, the scheme said it will launch the new rules which will “stop the growth of confirmed Mavros acquired before the 1st of... Read More

freeze accounts, mavros, mmm, new rules, Ponzi Schemes

February 21, 2017

Man dies after drinking insecticide over MMM collapse

by Azeez Adeniyi A 37-year-old man simply identified as Adakole has died after attempting suicide following the crash of popular ponzi scheme, Mavrodi Mondial Moneybox, popularly called MMM, Daily Post reports. The deceased who is from Benue reportedly died on Monday, February 20, 2017, in Kubwa, Bwari Area Council of Abuja, the Federal Capital Territory... Read More

man, mmm, N750000, Ponzi Scheme, suicide

February 14, 2017

Dear Garba Shehu, Nigerians have 99 problems but a runaway boo isn’t one

Dear Garba Shehu, You had been silent for almost a week only to come back yesterday with the news and details of Donald Trump’s call to your boss, President Muhammadu Buhari as if Trump’s call to the President of Nigeria comes with a badge of honour. Still, it came as no surprise because we flashed... Read More

Beyoncé, Dear Garba Shehu, donald trump, mmm, president buhari, stds, Valentine's

February 6, 2017

Ebenezar Wikina: Meet the ponzi schemers [NEXT]

by Ebenezar Wikina 2016 was a tough year for many Nigerians. The economic recession, the fall of the naira, and many other challenges made Nigerians look for alternative means of survival, and one of the most popular methods many Millennials devised was ‘online networking business’ also known as Ponzi Schemes. A lot has been said... Read More

Opinion

Ebenezar Wikina, mmm, NEXT, nigeria, Ponzi Schemes

January 29, 2017

Woman commits suicide over MMM crash

A Benue woman, Glorai Samson has committed suicide over the loss of her investments in ponzi scheme, Mavrodi Mondial Moneybox (MMM). Gloria who has a husband and two children was said to have invested a N400,000 loan she procured into the ponzi scheme. The deceased reportedly apologized to her children on December 28 and also... Read More

Crash, mmm, N400000, suicide

January 27, 2017

Timeline: Everything you need to know about the Apostle Suleiman “situation”

Founder of Omega Fire Ministries, Apostle Johnson Suleiman has been in the news this week – for reasons justifiable to others and to some, totally unacceptable. Over the weekend a video was released online were the cleric told his church members to kill any Fulani person who came close to his church. He received some... Read More

Apostle Johnson Suleiman, Ayodele Fayose, Contoversy, DSS, mmm, Nasir el-Rufai, President Muhammadu Buhari, prophecies, timeline

January 17, 2017

Apostle Sulemon’s church sacks pastor for participating in MMM with church’s account

The Omega Fire Ministries WorldWide headed by Apostle Johnson Sulemon has sacked one of his pastors for participating in Ponzi scheme Mavrodi Mondial Moneybox (MMM) with the church name and account details. Recall that Apostle Sulemon had condemned the scheme and its participants in 2016, stating that it is of the devil. In a statement,... Read More

Cover Stories, The News Blog

Apostle John Sulaimon, Church, mmm, Omega Fire Minsitries, pastor, sack

January 17, 2017

Reuben Abati: MMM, Sambisa and the boy died

by Reuben Abati Happy New Year, my brother” “What do you mean happy new year, more than two weeks into the New Year. Have I not been in touch with you since January 1?” “But for you the New Year has just started. Your January 1 was not on January 1” Looks like you have... Read More

Opinion

Adama Barrow, Gambia, Jammeh, mmm, opinion, reuben abati, Sambisa and the boy died, senegal

January 15, 2017

Pretty Mike, Governor Ajimobi, MMM | Here are last week’s winners and losers

Last week’s winners and losers were not hard to find. With their words and actions, each of them fixed himself in the appropriate category leaving us with little or none to do than just add brief captions to their names and dish to you. Here are last week’s winners and losers, in all their awesomeness:... Read More

Featured, Thinking Through

barack obama, Governor Ajimobi, mmm, Pretty Mike, senator ali ndume, tiwa savage, winners

January 14, 2017

The Big 10: These are the stories that drove conversations this week

These are the top 10 stories that drove conversations this week. MMM is back a day earlier Popular Ponzi Scheme, MMM Nigeria announced resumption of operations on Friday after going on a break on December 14 last year. The scheme had frozen participants’ account last year and had promised to resume operations after the holidays.... Read More

Featured

Aisha buhari, mmm, Premium Times, The Big 10

January 13, 2017

Is MMM’s return on Friday the 13th ill fated?

Let’s be honest. Oyinbos have their own jazz and superstitions. One of such is Friday the 13th. It is supposedly a day that brings ill luck. Or so they say. If you are one of those who believes in numerology, then you should know that according to the proponents, the number 13 carries with it... Read More

Opinion

elnathan john, Friday the 12th, mmm, nigeria, Ponzi Schemes

January 13, 2017

The Late 5: These are the stories that drove conversations today

These are the top five stories that drove conversations today. 1. MMM Nigeria is back, unfreezes accounts Ponzi scheme, Mavrodi Mundial Moneybox, MMM Nigeria has unfrozen accounts of participants 24 hours ahead of schedule. 2.‘I am sorry for what I said about your child | Tonto Dikeh tells Mercy Johnson Nollywood actress, Tonto Dikeh has apologised... Read More