To say the Ponzi scheme (as it’s popularly called or should we say labelled) has gone viral would be an understatement. However, moved by curiosity about how the scheme worked, we took to the streets and here is what a verified guider has to say about the scheme.

Watch Trending MMM Nigeria promo Ad:


MMM does one thing well, the MMM team knows how to work within laws to ensure everything they do is legal. We discovered there are mountains of scary disclaimers which can be concluded to mean “Donations are made at your own risk”. On this foundation, we built our research.

After reading several documents, we discovered the MMM narrative; Donate an amount you can lose or can risk to a fellow participant (not MMM) and you will be rewarded with MAVRO.

MMM is careful about its words, there is no mention of profit, interest or investment. They use words like reward, donation and growth of MAVRO. 

Literally, we saw a contrast between what blogs and news papers wrote about MMM and what MMM wrote about MMM.

MAVRO named after the very resilient Russian mathematician and programmer who founded MMM is the source of MMM’s 30% promise (no scratch the promise, MMM doesn’t promise anything). MAVRO is the secret.
To understand MAVRO, we will use real life names, situations and assumptions. Akin (lives in Lagos), Emeka (lives in Aba) and Aisha (lives in Abuja) are all participants of MMM. They registered for free and pledged the amount they plan to donate. Akin plans to donate 100,000NGN, Emeka plans to donate 130,000NGN and Aisha plans to donate 200,000NGN. If they all donate to other participants (who have previously donated), they will be rewarded with MAVRO equivalent to the amount they donate-simple!

The problem is the MAVRO grows at 30% and it can be converted to cash and withdrawn. That’s the point where it gets a bit clumsy. As we dug further, we saw MAVRO for what it truly is. MAVRO is the score or measurement of the growth of the MMM community. MAVRO in Nigeria currently grows at 30%, it can be increased or reduced. The number of participants and the financial value of their overall pledge determine the growth rate of MAVRO.

As long as the pledges outnumber the withdrawals, the MAVRO will remain at 30% but if the difference between the MAVRO and withdrawals isn’t much, the MAVRO may be reduced to say 10%. To ensure the numbers of pledges keep rising, MMM offers MAVRO to anyone who tells others about MMM. If Emeka tells Jude about MMM and Jude pledges 150,000NGN, MMM will give Emeka 15,000 MAVRO-NGN. Emeka can withdraw his MAVRO by requesting for help in sum of 15,000 NGN.

Why does MMM reward Emeka? The answer is simple; people like Emeka keep the system strong by referring new people.  This then leads to the question; does MMM need NEW PEOPLE to SURVIVE?

The answer we got from our research shocked us. MMM does not need new people to survive but only if MMM members trade within themselves. If MMM participants trade within themselves, there will be no leakages of the MMM funds and money will remain among MMM members.

To understand this, let us take a look at banking. Let’s assume a bank called Wazobia Bank has 1million customers. They have deposits of 1billion Naira. CBN allows the bank to loan out about 60% of their deposit. This creates 1.6billion Naira (1billion real money and 600million idea of money). Two main factors ensure for the success of this; collateral backed loans and few leakages. If the loans are not repaid, the collateral will be sold and people from the bank’s customers will buy and the 600million will be generated. We will now be back to 1billion naira. The 600million idea of money has vanished. Nobody loses any money. The debtors simply lost their asset.
Massive leakages rarely happen in banking because the urban dwellers are active users of bank accounts. About 70% of the money stays in developed states which means over 60% of the overall money stays in banks. Even when people spend money in local areas, it finds its way back to the banking system because the locals need urban tools to build, eat and survive. In urban areas, fellow bank customers trade with each other.

For MMM, as their participants continue to increase, they will unconsciously begin to trade with each other. A university student told me of her experience, she went to make a photocopy of her school work and discovered the woman in charge was all smiles. She wondered if her 30NGN was responsible for the woman’s smile. A few minutes later, she overheard the woman telling her sales boy to quickly run to the bank to make payments for her before MMM blocks her (MMM gives participants 48hours to fulfill their pledge to other participants once it is requested).

After further enquiry, she discovered the woman has made 360,000NGN from MMM. They became friends because the student herself sponsors her education from donations she receives from MMM. It became a thing of joy for her to continue to patronize her co participants knowing that every penny she spends will somehow return to the system as a donation to someone who needs it.

As MMM participants make money, there will be a desire to spend. They will be stronger if they patronize themselves to keep the system strong. This way they won’t need new members to remain strong. It is the new members who will need them to escape the hardship that life in Nigeria has to offer.

Chima (not the real name of contributor)

Few weeks back, a church official of the Redeemed Christian Church of God took some negative criticism after her picture surfaced online trying to market MAVRO to prospective church members. Questions were thrown at the General Overseer of the Church, Pastor E.A Adeboye. Here is what he had to say:

“The Church is meant to take care of all aspects of members life, both spiritual and physical and not one sided as against the opinion of some people that the church is turning to a market place.”

He made this reaction days after outspoken OAP, Freeze called him out over the activities of some of his parish pastors who allowed marketing of money lending/interest platform called, ‘Mavrodi Mondial Movement’ (MMM) inside one of the parishes of Redeemed Christian Church during a Sunday service.

 Pastor Olakunmi Oyewale, told sources on Thursday November 3, 2016, after the complain got to the hierarchy of the church that is not absolutely wrong to do so if it’s not against the law of the country and if the purpose is to empower the members of the church.

On the allegation of turning the church to a market place, Pastor Olakunmi said, “It’s not really about turning the church to a market place, people should understand that, like I said, the church is multi-faceted, and when they focused on just one aspect of member’s life and does not take care of the other aspects, then the church becomes one sided. So the church should be balanced in all areas.”

The popular outspoken and controversial Cool FM OAP ‘DJ Freeze’ has also blasted the Bishop Oyedepo of Winner’s chapel over the exhorbitant School fees charged in Convenant university saying “The love of money by the so called yahoo pastors and religion remain Nigeria’s greatest problems.”

Bishop David Oyedepo replied “beware of the wrath of God for the ones talking about Convenient University fees.”

MMM is two years old in South Africa and plans to launch in Ghana soon.

Shortly after a counter campaign was aired on N.T.A, to discourage people from signing on to the platform, the platform has gained over 300,000 subscribers that same week bringing the total subscriptions to over 2million subscribers.

Contributed by: Joy Simeone.

Joy Simeone is a MMM MAVRO MAVERICK and Digital Native @ the Brand Radio.

You can reach her on (0708 925 8023) for further enquiries about MMM MAVRO.

Edited by: Jimmy Adesanya.

©thebrandradio 2016. All right reserved.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s