Nigerians rain abuses on House of Reps over MMM crackdown

Strong condemnation has trailed the directive by the House of Representatives mandating the EFCC and the Central Bank of Nigeria to immediately go after the promoters Mavrodi Mondial Moneybox, otherwise known as ‘MMM’ in Nigeria. The House of Reps has directed the EFCC, security agencies and the CBN to take urgent steps to halt MMM Nigeria before many Nigerians would become victims of the scam. The House had on Wednesday, November 9, opposed the MMM Nigeria which has gained popularity among Nigerians in the wake of the current economic recession in the country. The MMM promises 30 per cent return on investment for any money put into the scheme within 30 days. The investment scheme has a Russian origin and involves directing clients to make money available for an anonymous person with a promise of 30 per cent return within one month. But the lawmakers described the scheme as a “scam” and warned Nigerians not to be carried away by the “mouth-watering” returns on investments. They have now directed the EFCC, security agencies and the CBN to take urgent steps to halt the scheme before many Nigerians would become victims of the scam. However, the directive by House to securities agencies has received a backlash from several Nigerians who rained abuses on the lawmakers for allegedly trying to stop MMM Nigeria The aggrieved Nigerians queried why the lawmakers abandoned several pressing issues in Nigerian for a trivial issue like MMM and called on the legislators to open invstigation on the alleged budget padding against speaker of the Yakubu Dogara and other principal officers of the House.