As apprehension over the destiny of thousands and thousands of individuals within the Mavrodi Mondial Moneybox mounts in Nigeria after accounts have been frozen, data emerged that some people might need develop into far richer than anybody can count on.
Some, it was learnt, have been made millionaires by the platform, however within the case of few others like one in every of MMM’s high males, Chuddy Ugorji, the achieve might have run into billions.
Ugorji, who’s the primary guider on the platform, has been the topic of various speculations, a few of which claimed he might need made greater than N1bn during the last one yr.
Social media photos of him on luxurious boat rides or at luxurious spots might need lots to do along with his new discovered wealth.
On the MMM web site, Ugorji shared his testimonies exhibiting that he bought thousands and thousands of naira from individuals who had “supplied assist” to him.
A screenshot even confirmed that Ugorji bought as much as N6m at a degree.
MMM runs in a peer to see donation system, during which you “present assist” by donating cash to a different participant and “get assist” by requesting for cash after some days with a 30 per cent improve within the preliminary donation made.
Ugorji was stated to have joined MMM’s world platform in 2015 and has been its spirited promoter in Nigeria ever since.
There isn’t a doubt that since changing into MMM’s high man, life has not been the identical for the Imo State indigene, who describes himself as a web-based entrepreneur and businessman on his Fb account.
Just lately,images from his latest marriage ceremony, which happened on the Elshadai Covenant Church, Abule-Egba, Lagos, emerged on-line, given the primary peek on the lifetime of a person, who leaves one in little doubt that the platform has been great to him.
His spouse, Chiamaka, who has additionally been a spirited defender of MMM’s credibility, is a graduate of the Imo State College and an indigene of the state as Ugorji. Earlier than her husband launched a press release on the fears over MMM on Friday, Chimaka had constantly written on her Fb, assuring individuals that their investments have been protected.
Ugorji’s marriage ceremony was attended by celebrities and different guiders of MMM. The apparently lavish weddingwas MMM-themed with company sporting MMM-crested sashes, whereas even the couple’s cake bore the MMM emblem. To cap the royalty of the marriage, leisure on the reception was supplied by the Limpopo crooner, Kcee.
The vital place Ugorji occupies within the MMM neighborhood got here to mild when he revealed on his Fb wall that MMM guiders introduced him with a model Hyundai Crete SUV as a marriage reward.
“Thanks to our great household, mates and nice MMM neighborhood on your love, help and generosity. Our marriage ceremony day was certainly made a lot memorable due to your presence and your blessings, MMM Guiders shocked me with a model new Hyundai Crete SUV Jeep as a marriage reward might God bless you all for me,” he stated on Fb on November 13.
Ugorji, a son of a reverend, is a graduate of one in every of India’s distant studying universities, Karnataka State Open College, the place he studied Enterprise Administration.
Regardless of refutations by Ugorchi, some Nigerians have recommended that he really introduced MMM to Nigeria.
A Twitter consumer, Amadi Noel, tweeted in the past about an alleged deal between Ugorchi and a Philipino millionaire.
Ugorchi himself had shared he took with a girl he known as Ritta on Fb in January.
The was apparently taken in Dubai, the place he allegedly finalised his deal on MMM Nigeria.
“With Ritta my associate and chief, an incredible girl and multi-millionaire. Am blessed (sic) to work with such a profitable chief as a result of success is contentious,” Ugorji captioned the .
However in a press release he shared on his Fb wall on Friday, Ugorchi, denied having any take care of any Philipino, explaining that MMM Nigeria is run by Russian, Sergei Mavrodi and managed in Russia.
“The MMM web site is being managed in Russia by their management and supervisory group .They’re answerable for each resolution made,like pairing of individuals to offer assist and get assist,resolving points on the platform. I’ve by no means been to Philippines,the tales about going to the Philippines are unfaithful,” he stated.
Nevertheless, many sceptics say those that have cash within the system ought to most likely not maintain their breath.
However Ugorji laid the blame for the panic about MMM following the freeze on accounts onthe doorstep of the media.
“Some ignorant Nigerians who don’t perceive what MMM is all about have been brainwashed by the knowledge broadcasted (sic) by the media and social networks. Bloggers who receives a commission for selling hearsay, when ignorant Nigerians click on on their blogs, Google Advert Sense pays them per click on. Therefore they seized this chance to complement themselves,” he stated in his assertion.
Nevertheless, it’s not simply the high-level place of Ugorji in MMM that got here to mild during the last one week, there are claims that he might need remodeled N1bn within the final one yr from MMM.
However he stated that “(I) am not the administrator of MMM however one of many high guiders of this nice neighborhood.”
As if to deal with the problem of how a lot he had constituted of the platform, he later states, “each guider within the MMM neighborhood has a restrict to withdrawal and I’ve by no means made withdrawals above my restrict.”
Nevertheless, he maintained that the freeze on Mavro (MMM model of credit), was only a measure to forestall the precise collapse feared by individuals.
In response to him, that MMM has collapsed is much from the reality.
He stated, “The rationale for this measure is clear. The system wants to forestall any issues that may come up throughout this festive season and this measure will likely be cancelled as soon as the festive season involves an finish.
Frozen of mavros doesn’t imply MMM has stopped operations or crashed reasonably the system has adopted this measure to keep away from any mishaps. The help system are engaged on points to reinforce the effectiveness of the neighborhood.”
However it’s unclear whether or not his assertion has achieved a lot to revive confidence of Nigerians within the platform. Some say all of the individuals must study as lesson is to take a look at how the scheme fared in different international locations.
An audio message circulated by one of many ‘guiders’ within the scheme referred to as Alpha Romeo, signifies that no less than three million Nigerians are collaborating within the scheme, a incontrovertible fact that places in focus how huge the impression of an eventual collapse could be to Nigerians.
To place the impression in context, a Fb consumer, Peter Sunday, shared a private expertise of the response of a policeman to the motion taken by MMM directors.
He stated “We have to kind prayer group to wish towards suicide due to this MMM halt o. That is actual. I entered a car with a Mopol (cell police) man who had been on responsibility since Friday and he was not conscious of the MMM freeze.
“He overheard the driving force and one of many passengers speaking about MMM crash. Swiftly he screamed ‘Haaaaaah! MMM crash? Haaaah. I sprint cash dem hold for my hand, I take put for MMM oooooooh. I’m lifeless.’ The Mopol man then cocked his gun.”
In comparison with Nigeria’s over three million individuals, when MMM Zimbabwe collapsed few months in the past, solely about 66,000 individuals fell sufferer. Nonetheless, it generated a nationwide heartache as many had sunk their life financial savings into the scheme.
A report by a Zimbabwean information web site, TechZim, drew a comparability between the way in which the platform collapsed within the nation and what’s occurring in Nigeria.
“In Zimbabwe, the primary signal of MMM Zimbabwe coming to a halt was when the Reserve Financial institution successfully distanced itself from any exercise outdoors of its regulatory scope. They have been powerless to both cease MMM Zimbabwe or assist those that may probably be affected by its subsequent demise. Like in Nigeria, authorities companies in Zimbabwe condemned the scheme in any respect fronts.
“This made a number of MMM Zimbabwe individuals surprise what precisely was occurring to have made the Reserve Financial institution come out and say they don’t have anything to do with MMM, confidence nonetheless remained however eyebrows began to get raised.”
TechZim stories that rumours of a doable system crash instigated a wave of panic withdrawals which led to a stress within the system forcing the directors to cut back the price of Mavro by 80 per cent. It began in April 2016 with the discount within the Mavro development fee from 50 per cent to 30 per cent and on to 20 per cent. Progress fee supplied by MMM Nigeria is at the moment 30 per cent.
On the finish of the day, the quantity of PHs (Present Helps)couldn’t meet up with the GHs (Get Helps). That was the ultimate straw for MMM Zimbabwe.
Nearly each social media house in Nigeria at the moment hosts arguments for and towards MMM. Many genuinely consider that the freezing of accounts was a step in the suitable path contemplating the large cashing out (or ‘GHing’ in MMM-Converse) for the festive interval, which could collapse the system.
However others have stated the January reopening wouldn’t occur contemplating what occurred in different international locations resembling South Africa and Zimbabwe, the place the scheme has collapsed.
A South African, ThendoStivo, who shared his views on Fb, stated these anticipating that the freeze on Mavros (MMM credit) could be lifted in January ought to most likely not maintain their breath.
‘’It’s best to have discovered out of your brothers and sisters right here in South Africa. Our outdated Mavro cash is gone as we communicate and MMM is at silence as we communicate (sic) so be careful for this Ponzi scheme, I’ve additionally discovered my lesson right here in South Africa. However no less than it’s not an excessive amount of cash that I misplaced (sic),” he posted on Fb.
When MMM collapsed in South Africa, the directors additionally blamed it on the panic orchestrated by untrusting media within the nation. Actually, they accused the media of “persecuting” the platform.