Practical Ways To Save Money And Grow Rich – Investment

What are the Best ways to save money to Become Rich?

 

1) Realize the need to save money and become rich

 

If you think that nobody can save money and grow rich, then you haven’t heard about Warren Buffet. He is considered a “Savings Billionaire”. As a financial advisor for my clients, I tell them that you can’t plunge into the muddy waters of investments without having backup savings plans. There are thousands of ways to save money, but there are few ways to save money and become rich.

 

If you think that saving money is just for poor people, calculate how much time you’ve been a working class person, then you check how much is currently in your account balance. Do the numbers tally?

 

If No, so who is really the poor person?

 

A lot of people forget the first rule of business, which is “Pay Yourself First”.

 

Majority of people spend before saving, which is actually a dangerous path to thread. It should be exactly the opposite. I will be explaining these in details in the next post.

 

 

 

Avoid the Banks

 

Did you hear that right? This is one of the simple ways to save money and grow rich. The banks offer you just

 

– Transaction

– And the Speculative function of money, leaving out the most important part of savings, which is precautionary.

 

Banks offer you just a token sum of 3.1% to save money (in a savings account untouched) while making monthly deductions that cancels out everything. You can deposit a certain amount in the morning, and withdraw all the same day in the evening. What is now the essence of saving?

 

The mistake working class people and business people make is trying to believe the banks love them, and this mentality should disappear after reading this post.

 

Lookout for forced longer-term investment plans

 

I pitched to a friend (see types of friends to avoid the need to start saving to grow rich in 2011, he complained about the length of time he has to keep his money (We had a plan of 6 years) and he declined the offer. He has worked for seven years with an account balance of just 250k, and maybe you should help calculate how much I saved up within such period (I already used my proceeds on an asset with other cash back to my savings).

 

I work in a financial house, and I have seen young people become millionaires just by carefully saving monthly for few years, while others who claim they wanted to invest ended up doing nothing.

 

 

 

 

Investment plans of 6years, and 9 years for young working-class people, newly wedded, and young mothers who are planning their children education should be critically considered.

 

Most of these investments plans actually come with a form of protection should in case the breadwinner of the family dies. This is why I recommend Insurance Company for your savings. In case you need more details, please contact me.

 

Have a Single Bank accounts and Multiple Investment accounts

 

Having a single bank account with multiple investment plans is one of the simple ways to save money and accumulate wealth for your family. Bank accounts expose you to spend more money, while investment plans encourage you to save up for a project.

 

A client of mine is a Bank Manager, he saves up money every 3 years just to get another piece of landed property – he doesn’t achieve all that with his bank. He patronizes several investment plans that our insurance firm has to offer because he knows exactly what he wants to achieve.

 

Draw Clear Goals

 

Having a clear goal of your financial future would help you make plans towards it. As at 2011, I already agreed that if I save 20k for 6 years, I would be a millionaire and invest in my dream business.

 

What I achieve in 6 years, someone else can achieve in just 3 years. I had smaller financial power, so I made my calculations based on what I could afford.

 

What are your financial goals, and how can savings help you achieve that? I survived the MMM scare because I had something I fell back to when the cards came crashing.

 

What is your Budget for the Month?

 

Working with a budget might be what you need to actually make your dreams come to pass. Back then I earned 50k monthly in Lagos, and I realized I had to force myself save 20k monthly (You can also do likewise, just speak to me.) It wasn’t easy, but I pulled through for 6 years. Even after I had a massive pay raise, I left the other as a residual income. It wasn’t much as compared to your imaginations, but others who had worked for the same 6years with such salary like me never had a million naira in their account after 6 years.

 

I currently have several assets and mind-blowing acct balances, but my spending will always remain frugal because I am just following the steps of Warren Buffet.

 

Just before you exit the post, always remember the tactics of the rich “Pay Yourself First before Spending”

Read More »

ARE YOU TIRED OF LOSING MONEY ON ONE PLATFORM TO ANOTHER!? CHECK IN HERE

ARE YOU TIRED OF LOSING MONEY ON ONE PLATFORM TO ANOTHER!?

 THE BUSINESS IS FROM BRAZIL

CEO Alex Pereri

The Company is in the various places as show below:

UK

Hong kong

Germany

Kenya

South Africa

Nigeria etc

SEE MORE PHOTOS:-

ARE YOU TIRED OF LOSING MONEY ON ONE PLATFORM TO ANOTHER!? 

 HERE IS THE GOOD NEWS.....COMING TO YOU LIVE ON BITCLUB ADVANTAGE

Invest with as low as N12,600 and get 300% back without referring

Get paid every monday to friday

These are the various Package

Cliente Partner-N12,600

Cliente Basic-N23,100

Cliente Bronze-N45,780

Cliente Silver-N110,880

Cliente Gold-N216,800

Cliente Premium-N432,180

Cliente Black-N852,180

😳😳😳 isn't that amazing

This is the time to take a fast hold on this and forget about your looses, NOBODY is ever happy to loose his/her money, but BitClub has come to change and correct those majors....... 

NO MORE LOSS

WHY SHOULD YOU INVESI IN BITCLUB ADVANTAGE! 

1. Very Secure Having a 2AF  (2 way authentication factor)

2. Earnings Are From Monday to Fridays

3. You Earn 300% of Your Money Deposited by The End of the Year

4. You Don't Have to Bother About Referring Before You Earn

5. The Company Is not a Nigeria Base From Brazil and You Can     Search Him Through Facebook By His name

6. There is NO Recommitment Fee Paid, This Make Upgrade an Optional.  e.t.c

Here is our whatsapp Group link,  Join now and see more of Proof Of payment

👇👇👇

https://chat.whatsapp.com/0eLOnLhrRlJGj31RrmCiZC

(Contact Me On +2348115437420)

Read More »

10 Businesses That Can Make You Rich In Nigeria

To make money in Nigeria, you have to study the economy and what thrives in it. You can’t possibly sell winter jackets and expect to get returns from it, our weather is not inclined in that way. That said, this review basically points out ventures that work in Nigeria and that are safe and reliable to delve into;

E-commerce

Customers are crucial in business and apart from this being a very promising venture, it is a sure section that guarantees you billions of customers. Working with an already established company would better help you understand how things work here before going on to start yours.

Construction materials

Infrastructure will forever be needed be it housing, hospitals, schools, etc. that is to say that there will always be a demand for building materials. The Dangote Group is well known for their innovation in this aspect. Though it requires a substantial capital but there is also a continued assurance of you being in business all year long

Real Estate

Land will always appreciate and people are making money in it especially in Lagos. Most people don’t even rent homes now, they buy them. This is a lucrative business to put investment into. If you want to be successful here like Warren Buffett, you need to know that it is expensive and line up your financing.

Oil and Gas

What most Nigerians don’t know is that we are one of the biggest producers and exporters of oil in Africa and the world. Most people have started running petrol stations across the country, distributing diesel and kerosene in large quantities. This also requires a lot of capital, but it will keep you in business and make you millions for a very long time. I personally know someone who started a small petrol station in Kaduna last year and it has only gotten better ever since.

Rice Farming

One of the visions we are driving at in Nigeria is food security. Though it is sometimes hard labor to cultivate and also capital intensive, you are definitely going to remain in business. For example, Rice is a staple crop in Nigeria with high demand across the country. Sadly we still have to import this product from countries like Thailand even when we have the means to do it. Invest in this

Hotel Business

The hotel business is highly competitive, granted, but it is another goldmine waiting to be tapped. As usual, you will need capital but what would keep you in the game is excellent management skills.

Snail Rearing
Now to a low-cost business; snail. They are also low maintenance and don’t require a lot of food. Not many people are into this business, so that’s an edge for you especially as the demand is rising.

Poultry farming
Poultry farming will put you in business all year long turning your capital into millions. Even if you don’t start with many birds, you can always start with a few hundred work your way up from there. This guarantees millions if you are religious about it.

Trade in Second-Hand items
Simply, fairly used products or tokunbo trade. A fraction of Nigerians would rather purchase fairly used products in order to save money be it electronics, cars, clothes. This may not guarantee you millions in the beginning but there is a method to everything. In markets all over the country, second-hand items are moving fast. The OLX website is also known for its safe trade of products and services.

Transport Sector
You need management skills to venture profitably into this business. Transport companies make millions of money from it every day. Also, you will need a good amount of initial capital. There is always business for road transportation in Nigeria and companies like ABC and God Is Good transport amongst many others, have found a niche here.

Read More »

Nigerians Weeps As MMM Announces A “Restart”.

It has been revealed that popular ponzi scheme MMM has officially announced a “RESTART” of the system, leaving many Nigerian participants wailing with thousands and millions on Naira trapped in the scheme.

In a message posted on the home page of participants Saturday morning, the scheme said that it had struggled to stay afloat after going on a break in Dec. 2016 but had been forced to do a system restart.

Many of the participants who commented in various MMM Whatsapp groups recounted sadly how they and family members had lost millions to the scheme.

MMM is a ponzi scheme which gained popularity in Nigeria in 2016. It promised to pay participants 30 per cent return on investment every 30 days.

Despite various warnings by the Federal Government and its financial regulators, many Nigerians adamantly went on to participate in MMM.

Recall that in 2016, the Federal Government, through the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) warned Nigerians against putting their money in the scheme.

In December 2016, the scheme went on “Pause Mode”, freezing the funds of participants and allegedly bolted with N18 billion but promised to resume payments by January 2017.

MMM kept its promise by resuming in January but it had new rules: 2016 money was to be paid back in percentages of new money “invested”.

This also did not stand the test of time and by July 2017, the scheme went on a semi pause mode when it could not pay withdrawal requests.

While those who lost their money in June/July continued to wait and lament, the ponzi scheme, in a frantic effort to stay afloat, commenced payment of those who “invested” their money in August, promising to backdate the payment to cover those whose money were still pending from June and July.

It even introduced 100 per cent return on investment to encourage more Nigerians to participate in August.

Apparently unable to meet its promises to pay back June/July pledges and faced with more challenges, the ponzi scheme on Saturday announced that it was going on restart, blaming the Nigerian government and the media for its woes which started in 2016.

Read the full text of the message:

RESTART

Unfortunately, we were unable to overcome the consequences of the crisis triggered by the authorities and mass media incautious actions at the beginning of this year. Despite all our efforts. The problems have been accumulating and, as a result, we have to announce a restart.

So, there is a restart:

All old Mavros (acquired before this announcement is posted) are frozen. We will gradually buy them back as the System develops.

All transactions with new Mavros (acquired after this announcement is posted) will be carried out on the usual terms with no restrictions.

Some amendments have been made to the rules:

Mavros will now start growing at the moment the request is confirmed (not at the moment it is created, as it was previously).

Consequently, bonuses will start growing at the moment when the main contribution is confirmed (upon which bonuses have been rewarded on).

Mavro-50% for the first contribution will not be available.

We launch three-month contributions of two types: 40% and 50% (see more details in WHAT IS MMM).

We’re confident that this measure (especially paragraphs 1 and 2) will significantly reduce the load on the System while also significantly improving its stability.

As a matter of fact, a restart is not the end of the world, it’s just a restart of the System and nothing more. Continue to provide help and you’ll get it all back (even if you’ve lost something now). It all starts from the beginning. It’s the most opportune time for participating.

We would also like to remind you (just for form’s sake) that everyone had been fully aware of all the risks and had read the WARNING which they had also confirmed by checking the relevant box in the process of registration.

Hoping for your understanding,

MMM Administration

Some of the participants of the scheme expressed regrets for ever joining MMM.

One of the participants (names with held) said that if he had known he would have used his money fro something better rather than investing on the scheme.

“This MMM people are very useless, they just came to dupe us,” he said.

On the promise by the scheme to buy back the debts it owed Nigerians when it restarts, he said: “Restart? who are they restarting with? Nobody will join MMM in Nigeria again”.

“MMM is gone and gone for good,” he said.

Read More »

N18 BN LOST TO MMM BY 3 MILLION NIGERIANS

​3 million Nigerian’s lost N18bn to MMM ― NDIC

 Muhammad Sabiu – Kaduna

The Nigerian Deposit Insurance Corporation (NDIC) has disclosed that three million Nigerians had lost N18 billion in the Mavrodi Mundial Movement Ponzi scheme (popularly called MMM).

This was made known by the Managing Director of the Corporation, Alhaji Umaru Ibrahim while speaking at the NDIC day at the ongoing 38th Kaduna International Trade Fair on Thursday.

Represented by the deputy director corporate affairs Alhaji Hadi Suleiman, lamented that despite repeated warnings by the Central Bank of Nigeria (CBN) and the NDIC, Nigerians still patronise MMM.

The MD emphasised that frequent usage of virtual currencies, such as Bitcoin, Ripples, Monero, Litecoin, Dogecoin and Onecoin as currencies for medium of exchange are internet based transactions and are not authorised by the CBN due to the risks involved in their operations.

He cautioned that any person or groups of persons who invest their money in the Ponzi scheme does so at their own risk.

“The Ponzi scheme is the phenomenon of illegal fund managers, popularly called ‘Wonder Banks’ which have continued to defraud unsuspecting members of the public of their hard earned money. This phenomenon has been a source for concern because despite our repeated warnings over the years, some members of the public have continued to fall victims of their fraudulent practices.”

“We would like to reiterate the fact that these fund managers are illegal, as they are neither licenced by the CBN to take deposits from members of the public nor are those who patronise them covered by the NDIC deposit insurance scheme.”

“I want to also draw the attention of some cooperative societies which often go beyond their primary mandate by accepting contributions from members; cooperative societies are only recognised to mobilise savings from their members.”

While advising the general public on the dangers of keeping large sums of money at home or in market shops, he said there are 978 licenced microfinance banks nationwide; out if which seven are spread across Kaduna state.

He noted that with the advent of the cashless policy and the subsequent licensing of mobile money operators (MMOs) by the CBN, the corporation has extended deposit insurance cover to the subscribers of MMOs to the maximum limit of N500,000 per subscriber per bank through its Pass-Through Deposit Insurance Framework.

Source: Tribune

Read More »

5 businesses you can easily start online to get some extra cash for yourself

All that is required of you is a minimal amount of time and effort. You don’t have to be a tech whiz to start a business online.

Online business  (huffington post)

There is no arguing about the gloominess of the nation's economy. And owing to this, there's never been a better time to make an extra cash online.

All that is required of you is a minimal amount of time and effort. You don’t have to be a tech whiz to start a business online.

Your Internet connection is what you need.

However, it is important to state here that to be successful in whatever you do, you have to be enjoying it, and it is not different with doing business online.

Be that as it may, here are five of the best ways to make extra cash online

1. Information marketing

In this age of information, the Internet makes it possible for you to exchange know-how for money. Over ninety percent of people of people go online to search for information and there is nothing wrong with you being their source of knowledge.

What is it you think you know that is not available to just anyone? Do you know the secrets to a successful marriage? Or a trick for saving gas?

Just think about your career, your hobbies, and your interests. Virtually anything you know can be turned into extra cash. And don't worry if you think you're not an expert.

Because, as long as you know more than the average person on any particular subject you chose to talk about, that information is more than valuable.

You do not need to doubt yourself. Collect information from here and there and use the knowledge to your advantage.

2. Blogging

If you enjoy constant communication on a particular subject of any kind, then this business is best suited for you.

Shutter stock

When you think of blogs, think of it as journals of sorts. Although you can have a personal blog, writing about a particular topic will have a higher chance for financial success.

In blogging, there is virtually an endless range of topics; from photography, sports cars, parenting, dieting, star gazing, Nollywood gossip. The list goes on and on and on.

As a matter of fact, there are blogs on just about everything you can imagine.

Now do not try to discourage yourself with the thought of competition. With time, you will get the needed traffic that will enable you to make business with your blog in as much as you have interesting things to talk about.

You can make money passively with things like AdSense (Google's ad revenue sharing plan) or actively by doing a little bit of affiliate marketing once your blog starts getting traffic.

3. eBay

Unlike information marketing, this business demands the handling of physical goods, but the handling of physical goods can also be automated, so it shouldn't prevent you from considering this idea.

eBay is one of the largest online marketplaces and with it, you can get your own business going. By opening an account with eBay, you can start making money within hours. All you need is a leveraged product that can be sold over and over again.

You will need to study the market if you’re in for this. Take a look at some of the largest eBay mega sellers and you will notice that their field of specialty is some specific products (iPods, cell phones, sports kits, etc.).

4. Affiliate marketing

When it comes to making money online, this is arguably the laziest way to make money.

Online business  (banking ninja)

With affiliate marketing, you do not need a product to sell or have any interaction with customers.

It is essentially a "referral" business. In other words, it is a business of recommendation.

Basically, there are sites that are set up to pay affiliate fees once a sale is made. You can get paid, with what is termed as referral commission, just for sending people to such sites.

It is the vendor that carries out all the selling fulfills the purchase and handles any customer service issues. You only come in when it’s time to pick you your check. 

Insurance and credit card companies pay high commissions for referrals that convert to customers ($40 to $150 and up), but the competition is fierce.

Alternatively, you could take a look at your hobbies and other things you enjoy and see which affiliate program is a good match.

ClickBank.com is a good place to go look for ideas.

5. Yahoo! Store

In the sense of the word, the Yahoo store is similar to any retail outlet. The only difference between the two is that the Yahoo store is without the hassles of rent, employees, utilities and all the other expenses of a traditional brick-and-mortar store.

This business is very similar to eBay in the sense that it's a monster-sized marketplace but more similar to a store in the true sense of the word.

Think having your own retail outlet but without the hassles of rent, employees, utilities and all the other expenses of a traditional brick-and-mortar store.

Online business  (shutter stock)

The interesting thing about yahoo store is that it can be as hands-on or as hands-off as you want it to be because of companies called drop-shippers, which can do most of the work for you.

As a matter of fact, you don't even pay for the inventory until you make a sale. Isn’t that interesting?

However, the majority of people think the hard part of this business is creating your virtual store, but nothing can be more misleading than this when it comes to yahoo store.

Yahoo! has made the templates and wizards so easy that anybody can create one for himself.

It is very important to state here that doing your homework and research on the product that people most want to buy is the best way to ensure success.

Then after, you need to find the right source of those products so you can carry them in your Yahoo! Store.

Interestingly, you'll be able to pull pictures and product descriptions directly from your sources and plug them right into your store.

It is not as difficult as you might want to think it is. With a little bit of upfront work, the business can be sustained with very little regular input on your part.

Read More »

BREAKING NEWS: MMM is back after upgrading see reason

*CONGRATULATIONS MAVRODIANS*🤝🤝

*Its been one hell of a week guyz but i must applaud 👏🙌you all for still standing.*

*This is the time to reap the bountiful rewards of our PATIENCE.*🤑🤑

*The upgrade has been confirmed done and installed, all we need is a message update on our various PO.*

ALSO READ: JAMALIFE HELPERS GLOBAL BUSINESS OPPORTUNITY

 Don't sweat on that, it will surely come.

*While we wait however, i need not remind you how this system works...Your PH is somebody's GH.*

*If we all keep pressing GH, who then pays us?...*

*So i am using this medium to implore us to PH (spare money, hiaaannn) however how small to fully lubricate the system as it begins a new lease of operation.*

You may ask why, but i will recount memo's words... *"PH now so that you will GH when others are PHing"..*And really, that's all i can say.

 *Once again, congratulation guys🤝🤝, WE MADE IT💃💃💃💃💃*

ALSO READ: CBN and SEC finally approve and partner with MMM Nigeria - Thanks to diamond bank

Read More »

JAMALIFE HELPERS GLOBAL BUSINESS OPPORTUNITY

👉🏿 *JAMALIFE HELPERS GLOBAL*👈🏿

              *SEE HOW IT WORKS*

                            👇🏿

Register with R110±
 As a registered member, you will automatically be in stage one 

    This is you here

             👇🏿
              👤stage1(builder)

*A total number of 6 people is needed directly under your account*

  

         👤    👤

      👤👤👤👤

 After introducing 6 people to register under you, you will earn the total of $3.*

  

And you will automatically move to stage 2.
To complete the stage 2 you need 14people that have completed Stage1 under you to join you in stage 2

TOTAL PAYOUT = *$21.*
                 👤 *stage2*

                    

    👤                     👤

👤    👤           👤     👤

👥    👥             👥   👥

         

 You Automatically move to *stage3*
for you to complete stage 3, u need 14 people that ve completed stage 2 to come and meet you in stage 2.
                👤 *STAGE3*

         👤          👤

   👤     👤  👤     👤

  👥      👥   👥   👥
*TOTAL EARNINGS =$140.*

     

you automatically move to stage 4
To complete the stage4 you need 14 people that have completed stage 3 under you to join you in stage 4.
                  👤 *STAGE4*

         👤             👤

   👤       👤  👤       👤

   👥       👥  👥       👥
At the completion of stage 4, there is going to be a supply of food stuff worth N50,000 monthly.
*$770.* will be credited to your bank account.

                   

You automatically move to stage 5.
To complete the stage 5,
 You need 14 people that have completed stage 4 under you to join u in stage 5.
You receive choice phone /laptop worth = $1000.
Plus $3500.* will be credited to your account.

*In this same stage 5* there is also N400,000 for you to use and do some shopping of all the house hold equipment from their online mall. And also, you’re guaranteed of health insurance and you can go and do all kinds of check up. All expense by the company.

                 👤 *STAGE5*
      👤                 👤

 👤      👤    👤         👤

 👥       👥   👥         👥
you automatically move to *STAGE6*
Stage 6, to complete stage6 you need 14 people that have completed stage 5 under you to join you in stage 6 at this stage, you earn $11200.
*INCENTIVE*

A mini SUV worth $13000.
*stage 7*

                  👤 

     👤                     👤

👤     👤           👤    👤

👥     👥           👥    👥
To complete stage 7,you need a total number of 14 people who have completed stage6 to join you in this stage. 

TOTAL PAYOUT =$56000.
*INCENTIVES* 

Choice Jeep =$50000.

Travel & tour =$10000.
*stage 8*

                  👤 

     👤                     👤

👤     👤           👤    👤

👥     👥           👥    👥

To complete stage 8,you need 14 people from stage 7 to join you in this stage.
*TOTAL PAYOUT = $280,000.*
*INCENTIVES*

/                       \

House =$300000.
Range Rover car $170000
this is how simple JAMALIFE HELPERS GLOBAL  works. 🤜🤛🤝🤝

JOIN OUR WHATSAPP GROUP FOR HELP

JOIN OUR WHATSAPP GROUP FOR HELP

Call/Whatsapp For More 08064931680

Read More »

The Truth About Those Asking People To Leave MMM Alone

The highest form of evil is to cheer someone into a ditch when you can clearly see him heading into one

Since the middle of last year I have been a lonely but definite voice singing against Ponzi schemes with MMM as their godfather, not because i’m jobless but because I see other Nigerians as my brother.

The plain truth is that those asking people and media to leave MMM alone are basically a group of people who have their cash trapped in the system. They are a bunch of greedy Nigerians who want other people to bail them out of their current but sad predicament. They feel people and the media are doing a great job dissuading people from PHing or even fulfilling their PHes.

These people are no different from rogues and serial killers. They are inherently wicked. They know the sad feeling having their hard earned money trapped with no say over getting back even the capital. Yet they want others to fall in the same ditch they have fallen.

Today being Sunday presents another chance for repentance. Look at what greed have done to you and make a stance to have a clean slate. If Ponzi schemes ask you for more money to free your lost cash forget them. If they release your money take it run and never look back but don’t encourage others to invest in a scheme that almost ruined you.

Read More »

“My Name Is MMM, I Am A Ponzi Scheme, People Lost Millions To Me Because Of Greed”

I created a website where I promise to double the income of participants by 30%.
The first participant joins with N20k. I need him to be convinced that my website pays So I use my own money to make up for the 30% and he goes home happy. I tell him he gets extra bonuses if he brings a friend and he does exactly that. Two of his friends sign up with N20k each and I return their investment with my own money and give my first client a special bonus for bringing them.
His friends are aware their colleague got a bonus for bringing them in. They get greedy, they bring more people. At this point, everyone wants bonuses as my system is verified and working.
More people join in, so I’m not using my money to pay them anymore, I’m using their money to pay them and waiting for more members to join so there’ll always be money in the system. I see a huge investment of N1m from a greedy participant, I run the website with money and I’ve spent my own money to build the trust in the system so I pair the provider of N1m with myself. Then get about 30 people providing N50k to pay him back in 30 days, he has N1.3m. My system is working, he tells his colleagues in his social class and they’re all excited.
My first members who started with N20k have gotten greedy, they’ve created multiply accounts to cash out but I don’t care. The big fishes are in the game. The big monies are being paired with me, I’m no longer providing money but I’m getting money. Whenever I see a large amount to be donated, I immediately pair the account to mine. Effortlessly a millionaire.
The system continues to thrive because new members keep coming in. There is a wild recession in the country, my scheme is the escape route. People have paid rents, school fees, bought cars and funded their ceremonies with my scheme. I am suddenly an employer of labour.
But all good things must come to an end, I have successfully built a network of participants running into millions but there is a serious cash deficit. It is almost Christmas and almost everyone needs 30% of their investment back. Because I’ve been collecting millions as an admin without donating, and because there are not enough new members to match the financial demands of the existing members, my system has collapsed but I am not done getting my millions from gullible people.
I announce a freeze on the website for technical reasons. I’ve done a lot for them so they believe me that I’m just protecting the system from crash even when it was not the wise thing to believe.
I told them they couldn’t receive money this period but they could still donate.
The one month freeze was an attempt to see if I could pay the existing members from the donations of new members. Sadly, some people had lost faith in the system, the new and existing members were afraid to make donations during the freeze because they were unsure of getting their 30% returns back. Plus there were a lot of evil people on social media spreading propaganda that my scheme was a Ponzi that had ended.
I needed that trust back, so I relaunched my website a day before the scheduled return. You needed to see the excitement. It was Christmas on January 13, I told existing people that had provided donations that they could now get help. I also added some attractive incentives for new members. I still faced the same problem that made me shut down temporarily, even worse.
The people that provided help during the shut down all requested help, plus there had already been a long list of people before then. So I decided to pair those that needed less than N30k first to check the rotation of money. Still there was not enough money to go round. The people that were paired to pay others refused to pay, the trust was gone. People had suddenly realised that it was not possible for 30% to be added to your money unless someone lost their own money.
Several other schemes took over my place when I was frozen. All will eventually meet their ends. Greed always comes to an end.
People still live in delusions of grandeur that I have not crashed. Perhaps they expect me to put a memo in my website that it is over. Lol. I really don’t blame their naivety, I did do a lot for them to trust me.
I would advise that people make more intelligent financial decisions next time. People lost millions to me because of greed. Do I feel guilty? No. I did warn them to use their SPARE money.
My name is MMM and I am a Ponzi Scheme.
Brian Jonah Dennis

Read More »

I Want To Sell My MMM Account with N140,000 Inside for N15,000 – Member

Once again another participant in the MMM scheme has cried out. The scheme which has continued to experience problems is now been criticized heavily by Nigerians.

Here is what one member tweeted:

Follow

Umeh and 99 others @UmehOMA

MMM akant for sale!!! With 140k inside. Just give me 15k biko and it’s yours

 

8:51 AM – 27 Jan 2017

• 167167 Retweets
• 5252 likes

As at the time of this report, no one has made him an offer for the MMM account yet, as many found the tweet really funny.

Meanwhile, several students of Bida Polytechnic who lost their money to the Ponzi scheme, MMM, have failed to meet deadline for the payment of their school fees

One of the students who lost her money to MMM fainted after she heard the school fees payment deadline. Another student who used his accommodation fees has been evicted by his landlord

Dupe Olurunfemi, a student of Federal Polytechnic Bida, Niger state, was hospitalised in the school clinic when she heard school fees payment deadline.

 She said she invested N70,000 meant for school fees and accommodation in the money doubling scheme, Mavrodi Mundial Moneybox (MMM) and has been unable to recover the money.

On the other hand, another member is the scheme is preaching patience and penned an open letter, which says in part:

“The media won’t employ you if you join to kill MMM. The bank will also not, and the government as well. If they employ you, they will make you a servant of money. You will be enslaved once again.

“MMM has been working to liberate those in it from financial slavery. We all survived last year’s recession because of MMM. When the government made things difficult for us.”

Watch a video of MMM members having a party below:

Read More »