Central Bank of Nigeria as warned Nigerians to desist from investing 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, CBN Head of consumer protection Sueja Kassim warned the students against investing in MMM which he described a wonder bank.
“But I want to warn you against it because they are wonder banks that are not regulated. Desist from their activities because they are fraudulent,” he said
“Don’t save what is left after spending, but spend what is left after saving.”
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