A participant of the MMM online money lending scheme which the Federal Government of Nigeria through the Central Bank of Nigeria, CBN, warned Nigerians against has cried out following the latest statement issued by the scheme through its website.

Recall that MMM on its website earlier today placed a ban on all activated accounts thereby halting people from getting help.

There have been several reactions among Nigerians as there have been widespread speculation that the financial scheme which has been described as a Ponzi scheme has crashed.

A social media user who is affected by the development took to Lailasblog to share her experience. Read her story below:


Hello Laila, I am finished. It was only last 2 week that i decided to try this MMM thing since all my friends were making money from it. All along, i refused to do but everybody in my neighbourhood and church were doing and making money and christmas was coming and my husband is not making any move to give me money for the childrenns cloths and mine.


I decided to put my 120 thousand and i was to collect 187 thousand by 24th of December because i have 3 referrals through my link only for me to wake up this morning to hear that the whole thing has crashed. Please. that is my life savings. even the woman that refereed me is crying too.

I dont know what to do because part of that money belongs to my husband and some for my mother in law. please is there any lawyer or human right person in this blog to help me recover my money. I will give the person half of the money. please. i dont mind. I sent a message to Barrister Ugwuanyi of DPA but he has refused to reply. please help me. MMM has ruined me. i want to kill my self. I am going mad. the people that introduce me to this thing started since and has made some money. me na just last week i do my own. please help me.