Dear Nigerians: This is a Question that requires Your attention and sincere answers on the State of MMM and The Presidency (Aso Villa at large).
As we all know, many articles have surfaced online telling Us the dangers of MMM which has made many Nigerians have something in the Bank to boast about today opposite to the so called Government that has promised everything but has given absolutely NOTHING!
When MMM gained it's popularity and trust by some Nigerians, the SENATE, EFCC, CBN, BLOGs, TV Stations and likes warned strongly at the dangers of getting involved in it saying it's a Ponzi scheme and therefore it will crash.
The PRESIDENT promised a lot during campaign for presidency, but as we all know, see and fell nothing good has been put in place else it has been poverty and suffering on Nigerians.
MMM Promised 30% and has fulfilled its promise and is still making progress ever since it came into operation in Nigeria
What they said of MMM:
1. The promoter vanishes, taking all the remaining investment money.
2. Since the scheme requires a continual stream of investments to fund higher returns, once investment slows down, the scheme collapses as the promoter starts having problems paying the promised returns (the higher the returns, the greater the risk of the Ponzi scheme collapsing). Such liquidity crises often trigger panics, as more people start asking for their money, similar to a bank run.
3. External market forces, such as a sharp decline in the economy (for example, the Madoff investment scandal during the market downturn of 2008), cause many investors to withdraw part or all of their funds.
Why do I believe that MMM Nigeria is a pyramid/Ponzi scheme? Let's look at the following reasons:
1. The promise of a 30 % ROI is outrageous and not in terms with standard rates of investment (Example one makes a profit of 30,000 naira for every 100,000 naira invested in the system in 30 days, excluding additions that comes from referral, signing up and testimonial bonuses) No legal financial company can offer you that investment plan.
2. Such "Return on Investments" being paid to older clients are money received from new clients and the circle continues, the 30% is never made from company profits. That is why there is aggressive ad campaign from the company (MMM Nigeria) paying massive additional bonuses to recruiters that they call guiders to conduct seminars and deceive gullible Nigerians into joining the scheme to keep the system alive.
3. The CEO of the company (MMM Nigeria) Seigei Marvrodi is a convicted fraudster and had run similar fraud schemes in Russia where he defrauded investors over a hundred billion dollars.
Hmmmm - After all these and more not mentioned being said about the scheme, it has remained alive, hale and hearty and paying Nigerians till date.
MMM also stated that You should use your spare money to fund your account.
The PRESIDENCY Failed Promises:
1. Public declaration of assets and liabilities
2. State and community policing
3. Ban on all government officials from seeking medical care abroad
4. Implementation of the National Gender Policy, including 35% of appointive positions for women
5. Revival of Ajaokuta steel company
6. Generation, transmission and distribution of at least 20,000 MW of electricity within four years and increasing to 50,000 MW with a view to achieving 24/7 uninterrupted power supply within 10 years.
7. Empowerment scheme to employ 740,000 graduates across the 36 states and the Federal Capital Territory.
8. Establishment of a free-tuition and scholarship scheme for pupils who have shown exceptional aptitude in science subjects at O/Levels to study ICT-related courses.
9. 720,000 jobs by the 36 states in the federation yearly (20,000 per state).
10. Three million Jobs per year
11. To embark on vocational training, entrepreneurial and skills acquisition schemes for graduates along with the creation of a Small Business Loan Guarantee Scheme to create at least 5 million new jobs by 2019.
12. Churches and Mosques would not pay taxes under national laws, but if they engage in businesses, the businesses would pay tax.
13. Provision of allowances to the discharged but unemployed Youth Corps members for Twelve (12) months while in the skills and entrepreneurial development programme
14. Making the economy one of the fastest-growing emerging economies in the world with a real GDP growth averaging 10% annually.
15. Creation of a Social Welfare Programme of at least fivethousand naira (N5000) that will cater for the 25 million poorest and most vulnerable citizens upon the demonstration of children’s enrollment in school and evidence of immunisation to help promote family stability
Continue Reading Full Article from my Blog https://asaptrendz.com/crashing-mmm-presidency/
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Posted 4:00pm, Mon 29th February, 2016 by Shalom Oshindele