Tag: Ponzi Scheme

RoqeebahMarch 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 ...

ToluMarch 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. ...

Oludolapo AdelanaMarch 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 ...

AzeezFebruary 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 ...

Op-ed EditorJanuary 13, 2017

The Thread: MMM’s mannequin challenge has come to an end

Ponzi scheme, MMM, has come out of the deep freeze it put itself under just before the holidays began. All ...

AzeezJanuary 11, 2017

I did not endorse MMM – Femi Adesina

The Special Adviser to President Muhammadu Buhari on Media & Publicity, Femi Adesina has said he did not endorse ponzi ...

ToluJanuary 4, 2017

As MMM makes a comeback, here are 5 ways to get yourself prepared

It’s been three long weeks since MMM Nigeria announced its one-month shutdown that caused social media frenzy and real life ...

AzeezJanuary 1, 2017

‘KICC’s Pastor Ashimolowo didn’t lose $5m to ponzi scheme’

The Kingsway International Christian Centre, KICC has reacted to a recent report in which its Senior Pastor, Pastor Mathew Ashimolowo ...

Oludolapo AdelanaDecember 29, 2016

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

These are the top five stories that drove conversations today. 1. ‘Kill everybody you can kill’- Wike to Fayose during a post-election ...

Isime EseneDecember 17, 2016

INVESTIGATION: MMM, the ponzi scheme that saved a thousand lives, then killed a thousand more

by Festus Iyorah Charles Ibekwe (not real name) has lost everything: his school fees, his pocket money and the hope ...

Oludolapo AdelanaDecember 13, 2016

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

These are the top five stories that drove conversation today. 1. Zahra Buhari confirms her wedding to Ahmed Indimi Zahra ...

ToluDecember 13, 2016

Dear Nigerians, @AATSarumi wants you to believe MMM Nigeria didn’t crash…

Word on the streets has it that MMM has crashed but wait no… Before you die of a heart attack, ...

Op-ed EditorDecember 13, 2016

The Thread: MMM- the suspension before the crash

So MMM Nigeria has decided to put their operations on pause until after the holidays. It’s anyone’s guess what the ...

Oludolapo AdelanaDecember 13, 2016

Panic as MMM Nigeria operations get frozen for a month

Operations of popular ponzi scheme, MMM Nigeria has been shut down for a month due to what the operators termed, ...

Oludolapo AdelanaDecember 5, 2016

MMM is satanic – Apostle Suleman (WATCH)

Founder of the Omega Fire Ministry, Apostle Johnson Suleman says Ponzi scheme, MMM is satanic. An Instagram user @Klintoncod shared excerpts ...

AzeezDecember 2, 2016

Owner of MMM Nigeria revealed (MUST READ)

A Nigerian based in South Africa, Ernest Chigozie Mbanefo has been uncovered as the owner of the popular ponzi scheme, ...

Op-ed EditorNovember 18, 2016

Opinion: Cold comfort from the Honourables

by Anthony Ademiluyi A friend of mine placed a distress call to me to help him clear an embarrassing debt. ...

Mazi EmekaSeptember 12, 2016

YNaija Editorial: Before the MMM pyramid comes crashing down

On August 30th, the Securities and Exchange Commission issued this statement about a fake online investment scheme called MMM. The ...

March 3, 2013

Cece Winan’s nephew, Michael Winans Jr. jailed 14 years for $8 million fraud targeting churches

Michael Winans Jr., of the popular Gospel-singing Winans family, was sentenced this week to nearly 14 years in prison for ...

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