MMM closure: Nigerians take to Facebook to wail, gloat

Confusion and panics have greeted the news of the alleged freezing of MMM in Nigeria.

While many participants are confused over the real issue at stake, others had been stricken with anxiety over fear of losing whooping sums of money.

Some participants claimed that MMM in Nigeria has only closed shop for the Yuletide seasons, to resume in January, but other feared it had crashed.

Nobody seemed to be sure of anything. The unknown, has largely contributed to the ongoing present panic in Nigeria.

Two types of Nigerians have, however, taken to social-media; participants and non-participants.

While the non-participants gloat, stressing they had warned people, the participants wailed in distress and even verbally attacked those gloating.

Lanre Odukoya said: “I was drinking Hollandia yoghurt when someone called me to say that MMM has been frozen. Oh boy, the Hollandia started tasting like Alomo.”

Hazeez Balogun argues: “MMM has nothing to do with the government. It is greed. MMM was in the US and many lost their money. Mavrov was arrested and jailed for it. That is the biggest economy in the world. In fact the word Ponzi scheme originated from the US. Same goes for Russia. Also there have been numerous Ponzi schemes in Nigeria for decades. All went sour. Yet they won’t learn. Only if people can realize money is only achieved with hard work and prayer.”

Oyeyinka Elyte Damilare said: “ The only way MMM can prevent a premature crashing, is to minimize the rate of withdrawal from the system especially during this festive period. Don't panic! Your money is safe. Imagine everyone withdraws from the system and no-one deposits, the system will crash. The system will still crash but not when it is preventable.”

Ban Ifj Victor said: “Good morning dear mavrodian! Welcome to MMM pause mode. Firstly, what is MMM pause mode? Pause mode is a mechanism introduced to MMM in 2011 to salvage the community when there's panic in the air and to control the equilibrium between the provide help and get helped help que; during the period of pause mode, all confirmed mavro shall be frozen to counterbalance the equilibrium between the provide help and get helped. And after when the provide help is greater than the get helped the system will come back to normalcy. This is a measure that's have been implemented in South Africa in April this year and people of South Africa survived it. Likewise Zimbabwe in September of which in month of May and October they are back and better. So it has happened in Nigeria just let us be steadfast and do away with panic. Media will surely carry propaganda against this, but don't let this affects us. Please, I enjoined every up line to explain to their down line very well that we are on pause mode which shall be lifted in a Short time.”

Uchenna Okemadu Ezenagu said: “Any MMM participant that is crying doesn't know the ideology of what he or she jumped into. May be the ones they want to push out people having double accounts. MMM is not a Nigerian thing; so all these mago mago,wayo wayo style of life is not welcomed at all.”

Eniola Akinkuotu has this to say: “ See message from MMM user: "Good day sir, I am Tobi, your fellow Muslim brother and also the man that sent you N280,000 on MMM last week Tuesday sir. Please sir I am sure you're aware of what is currently going on. Please just send back anything Allah lay in your heart sir. Please don't make me lose all sir. May Allah bless you in return abundantly."

May Ebute attack those gloating over the alleged closure/crash.

She said: “So I see some people jubilating that MMM has crashed. If you are one of those people, then you must be a witch or wizard in disguise. When people's misfortunes make you happy, Omo, you are unconsciously practicing blind witchcraft. Better repent.”

Amila Oluwagbenga Oluwasegun said: “Due to the high financial needs of different people in December and January - Christmas cloths, Christmas foods, Christmas house warming, kids school fees in January, house/ office rent etc, there's bound to be more withdrawal than investment as these are evident in banking sectors through the emptiness of ATM vaults. Please MMM is a PONZI scheme, those who are investing in it shouldn't put what they can't afford to lose because in this part of the world we have medical doctors’ deficit, let alone psychological physician. If we can't cure the mad people on our streets we should try to keep them at the barest minimum. It's your money; spend it the way you want. But when you lose your sanity through the inevitable and imminent MMM loss, don't cause societal nuisance. MMM is a lazy youth thing! Hit me for less I care, but you need to ponder on it! I have a solution for the jobless.”

Hon Pencil described those who took part in the scheme as educated illiterates. His words: “Those who engaged in MMM are educated illiterate and money mongers. They focus mainly on money. Anybody that focused mainly on money will miss chunks of life.”

Chilee Agunanna expressed disgust at the way people gloated over MMM participants’ pains and fear.

She said: “ Why would people rejoice at something that would cause others pain and grief? If MMM crashes, how does that benefit you? If you are sensible enough not to engage in it, that doesn't mean your neighbour that invested in it is foolish. MMM is better than armed robbery and stealing and corruption. The country is really hard as it is and many people will never have engaged in it if the government has kept its promises to the masses. Just look at the state of the country and understand why people will invest in something as dangerous as MMM. If you didn't put your money in it, you should just be content in your senses but that doesn't mean you should rejoice that other people are losing their investments. Moreover they say they are on holidays so it may not have crashed after all.”