MMM is Fraud - CBN

CBN as warned Nigerians to desist from investing money into MMM. They have warned that the scheme which promises  30% return on investment is not regulated and bound to crash soon.

This warning comes days after the Minister of Solid Minerals and  Steel Development, Dr. Kayode Fayemi, dissociated himself from the MMM, saying he has nothing to do with it or any other online financial aid community, projects or contracts.

Speaking during a mentoring program for students, of Government Secondary School, Central Bank of Nigeria, Head of consumer protection Sueja Kassim warned the students against investing in MMM which he described a wonder bank.