The popular Ponzi scheme, Mavrodi Mundial Moneybox (MMM), has shut down it System and operations globally after the death of its founder, Sergey Mavrodi.
Mavrodi died on March 26, 2018, and his death put uncertainty in the face of MMM global participants when the System was put on pause mode to honour his exit.
In a statement posted on its global website on Friday, April 6, 2018, the Ponzi scheme platform said the continuation of the System operation without Sergey Mavrodi, the ideological inspirer is “impossible and makes no sense.”
The statement pointed the attention of participants to the pre-registration warning which clearly states the risks attached to every participant on its system.
The statement reads further: “After much deliberation, we have made the conclusion that continuing the System operation, without our leader and ideological inspirer, is impossible and makes no sense.
"We all carried out the tasks he assigned to us since we had no doubt in his genius and rightness of the path he had chosen. We are firmly aware of the fact that none of us has a full view of his conception’s profoundness and sequence of all the actions to achieve a final goal, declared in the "MMM's Ideology".
“Sergey Mavrodi's broad-mindedness scale is unprecedented. Therefore any attempts to continue the System operation without him are bound to fail. We respect him immeasurably and cannot afford to allow that our unskilled actions may cause profanation of his concepts."
"In view of the above, with deep sadness, we have to announce the ultimate and irreversible MMM closure.
"We also remind (as a matter of form) that all initially were fully aware of the risks and read the WARNING and confirmed that by checking the relevant box when registering."
"Hoping for your understanding, Administration."
MMM gained ground across major African nations in 2016 largely due to economic meltdown witnessed by the two largest economies – Nigeria and South Africa.
Recall that Nigeria government and other relevant agencies have warned Nigerian participants to stay away from any Ponzi scheme that is not duly registered or within the regulation of the government.
Over the weekend, I joined my children to watch the
much talked about ‘Black Panther’. It was a good film, and I was happy they
took me to see it. However, I came out of the movie theatre a little upset. When the first scenes came up, and I saw “Sambisa Forest”
I was unhappy that the only reference the film makers could have for Nigeria
was a negative one, but I was later encouraged by the thought of Africans
solving African problems. That is a good thing, the kinds of things we used to
do. For young people who may not remember, Nigerian civil servants and indeed
most able citizens used to contribute money every month to support the struggle
against Apartheid in South Africa. Nigeria was the single stabilizing force
across West Africa. Helping to restore peace in Liberia and Sierra Leone are
examples of the gigantic status we once had.
The maiden edition of the 'my phone photography exhibition' held on the 23rd of March. The Shehu Musa Yar'adua Centre located in central area, Abuja, played host to this event. It was an atmosphere filled with calmness but you could also hear the joy and excitement in the voices of the over 100 people who came through the exhibition doors. The idea of the exhibition was born by one of the exhibitors (Omofuoma Agharite). Haven taken numerous pictures with her phone, she wanted to share those pictures with others and at the same time support a charity organisation. It was then that the idea was born and given to Ivy Events to nurture. After months of planning and execution, a group of exhibitors came together to showcase some of the amazing pictures that they had photographed with only their phones.