MMM SAGA: At Last, CBN Issue Press Release In Regards Of MMM Nigeria Freezing Cash

In what may look like reaction to the alleged crash of the Ponzi scheme, the Central Bank of Nigeria (CBN) has once again cautioned Nigerians against investing in Mavrodi Mundial Moneybox (MMM).


The scheme operators stopped the accounts of its investors in Nigeria two days ago, saying they were acting on members' interest till mid January.



CBN Director of Development Finance Dr. Mudashiru Olaitan gave the warning at a business leaders’ conference with the theme: “Prospering in a recession”, organized by EZ37 Solutions in Ibadan.

He called on Nigerians to be careful in investing their resources, especially at this period of economic recession.

According to him, the nation is blessed with many resources and businesses that could bring returns at minimal risks, urging people to embrace agriculture instead.

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