Time they say, heals all wounds but does not erase all scars. These indelible scars remain constant reminders of the past and serve either as inspiration or warning to avoid repeating certain mistakes.
The experience of many Nigerians with the Mavrodi Mondial Movement (MMM) ponzi scheme is far from over.
The scheme, with subsidiaries in up to 110 countries, was first launched in Nigeria in 2016.
In January 2017, Sergey Mavrodi, founder of MMM, announced that all Nigerian accounts from 2016 would be frozen, asking that they pay some money into the system before they can cash out their prior investment.
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That was the first time the company would fail with its return plans, subjecting some Nigerians to hardship. Some even commit suicide.
The Nigerian Deposit Insurance Corporation (NDIC) later announced that an estimated three million Nigerians lost N18 billion to MMM.
Recounting his experience, a Twitter user, @mrmikerezzy, said January 11 made it “4 years that MMM made me faint inside one Nkwobi Joint like that”.
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Mike’s tweet elicited reactions from other Nigerians who had similar experiences. Replying to Mike’s tweet, @OmideyiOlaide, another Twitter user, said the scheme crashed two days after his neighbour’s wife invested the family’s feeding allowance for the month in it.
Another person said he lost N300,000 but smiled when he learnt his friend’s mother lost N3 million.
Below are the experiences shared by some Nigerians:
Today will make it 4 years MMM made me faint inside one Nkwobi Joint like that 🤕
Advertisement— Versatile (@Versatile700) January 11, 2020
Late dad gave me R550 as a birthday 🎁 in Dec'95 & immediately introduced me to Sun Multi Serve.
Was yet to be paid out yet called it his SMS & urged ME to push him up the ladder just like? 🤔
Advertisement— Tsi_whagha² (@Oag_Whagha) January 11, 2020
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I Lost 300K , But When I Think Of My Friend's Mom Who Lost 3M, I Just Smile
— HIM (@SilverbackNwh) January 11, 2020
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My neighbour's wife used their feeding allowance do MMM and two days later, it collapsed. They almost ate grass that month. The husband was too shocked because the woman was a 'prayer warrior' in their church.
Advertisement— Ola929706 (@OmideyiOlaide) January 11, 2020
E dy slap harder when person dy broke
— Versatile (@Versatile700) January 11, 2020
Those bastard nearly finished my Life. But by the grace of God we move on
— victor (@vikem4me) January 12, 2020
pls don't remind me. I used all my savings I came to Lagos with to get an apartment and start a new life went down with it. It wasn't easy as I nearly ran mad. Friends started showing me shege but to God be the glory we don't look like what we've been through.
— TALk GURU (@TALK_GU) January 12, 2020
🤣🤣😂😂😂😂 me too my first 20k I ever saved in my life ,entered there and never made it out alive.The kind of heart break .🙆🏻🙆🏻
— Mirabel Oghenekaro (@mirabelivy) January 12, 2020
Lucky guy
— Versatile (@Versatile700) January 12, 2020
My neighbor wey Dem settle newly then carry em settlement money take do mmm….Kai..it wasn't funny then at all.
— u-jay brand✂️🪡🧵👗 (@UjunwaKamsy) January 12, 2020
I was eating Christmas meat that year
E no sweet.
It was doing me somehowSince that day I swore I would never be scammed again in my life
— PointBlank (@TheBestVmj) January 12, 2020
Late dad gave me R550 as a birthday 🎁 in Dec'95 & immediately introduced me to Sun Multi Serve.
Was yet to be paid out yet called it his SMS & urged ME to push him up the ladder just like? 🤔
— Tsi_whagha² (@Oag_Whagha) January 11, 2020
The scheme announced that it was shutting down in April 2018 following the demise of Mavrodi who died from a heart attack.
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