MMM Nigeria opens a day early, marketing ploy?
Following its collapse last month, MMM Nigeria suspended affiliate withdrawals and announced they’d reopen on January 14th.
On January 13th MMM Nigeria did in fact reopen. Sergei Mavrodi purportedly boasted they’d done so because of the ‘hysteria raised by the authorities and the mass media around MMM‘.
Funny how according to MMM Nigeria authorities and media commenting on the largest Ponzi scheme in the country collapsing creates hysteria, and not the collapse itself.
In any event MMM Nigeria affiliates are now able to put in withdrawal requests again, subject to strict limits.
We’re likely to be deluged by GH-requests. Therefore, we”re going to make gradual paybacks by setting internal output limits.
In other words, we will only pay a certain amount per day. Please, be prepared to wait for a couple of days.
We are certain things will then calm down, and the System operation will return to normal.
“Normal” for MMM Nigeria requires new investment to replace what is withdrawn. Given it’s already collapsed once, new investment is unlikely to keep up with withdrawals (not that it ever did, such is the nature of Ponzi schemes).
Essentially MMM Nigeria has now entered a “bank run” scenario, which the admins are desperately trying to manage.
We’re the ones setting the limits, so it’s completely under our control, and we are not expecting any emergencies in principle.
Have no fear and go on about your business as usual.
One way they’re trying to manage withdrawal requests is by specifically targeting investors with large balances.
As the System is socially oriented, we will make paybacks to the poor and the economically disadvantaged in the first place: it means to the members with small PH amounts.
The richer can wait.
Moreover, we”ve warned you repeatedly to only provide help with amounts that are not critical for you.
Therefore, if these large amounts are not critical for them (the richer), they can wait a few days. No need to be tragic about it.
MMM Nigeria affiliates with not much invested are likely to be new to the scheme. Upon receiving their ROI payments (which are easier to pay out than large requests from older affiliates), they’re more likely to spread the scam to new victims.
Reading between the lines, MMM Nigeria clearly doesn’t have enough funds in reserve to pay all of its affiliates out.
When MMM Zimbabwe collapsed last year, it too shut down before reopening a month or so later. MMM Zimbabwe lasted a few weeks after it reopened, only to collapse again.
The same thing will happen with MMM Nigeria. The final collapse might be put off for a bit though, depending on how strict withdrawal manipulations are.
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