SEC Issues Fresh Warning About MMM

SEC Issues Fresh Warning About MMM

The Securities and Exchange Commission issued fresh warning to Nigerians against, MMM Nigeria.

The scheme, which was suspended by its operators in December last year, had commenced operations.

Stranded MMM Nigeria investors cry out as they are not able to access their money

MMM directed its members to provide ‘help and get help,’ urging them to make use of  bitcoin, for their transactions.

The Corporate Communications Manager, SEC, Naif Abdulsalam, when asked if the commission had made any formal complaint to the security agencies on the activities of the promoters of the scheme, said he would not be able to comment on that.

“I won’t be able to speak on that now,” he said and declined further comment.

He, however, warned Nigerians against patronising the Ponzi scheme, stating that its activities were not regulated by the commission or the Central Bank of Nigeria.

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