MMM defies House of Representatives, marks one year anniversary
Abuja - Despite the call by House of Representatives for law enforcement agencies to crack down on pyramid financial scheme called MMM, members of the community across the country celebrated the first anniversary of the scheme with donations to Internally Displaced Persons (IDPs).
A member of the country’s lower chamber, Akinlade Fijabi from Oyo State, who raised the matter in a motion of urgent national importance described MMM as a ‘Rob Peter to Pay Paul Scheme’.
Some Nigerians have also described the scheme as a Ponzi destined to go burst. But the number of Nigerians participating in the scheme has continued to grow exponentially. There are now over 2 million active members of the scheme in the country.
As the scheme, which its participants like to refer to as “a community of mutual aid and donation exchange” marked its first anniversary on Friday, members across the country donated cash and relief materials to the less privileged.
Members of the MMM community as part of its humanitarian week tagged, "MMM Cares" donated relief materials to IDPs at the Gwoza and Bama Camps in Abuja.
The group donated bag of rice, garri, cartons of beverages and noodles as well as clothing, and drugs.
Seyi Bello, a Guilder in the ‘MMM Community’ said they were driven to make the donation by their desire to affect the society positively and help the less-privileged.