The MMM Federal Republic of Nigeria made a grand entrance into the
Nigerian investment market in 2016. MMM stands for Mavrodi Mondial
Moneybox and takes its name from its founders, Sergei Panteleevich
Mavrodi, Vyacheslav Mavrodi, and Olga Melnikova.
The outfit was established in 1989 by these three Russian nationals,
and promises its clients 30 per cent return on investment (ROI) for
money put into the system for 30 days. The scheme prides itself as a
mutual aid fund through which recruited members contribute money to
The founders claimed they are not into banking, online business,
investment company or a multi level marketing (MLM) program. The scheme
structure, however, indicates otherwise. For instance, members can have
multi-level structures under them and receive bonus from each donation
of every participant in their structures.
The company has been able to persuade many Nigerians to buy into its
idea. Many Nigerian big online Business coaches and entrepreneurs with
vast subscriber base are encouraging their followers to key in to the
MMM opportunity. Thus, some Nigerians have invested millions of Naira
into this scheme and are enjoying their newfound wealth.
However, the question some have asked is: How long would it take to
sustain the profits? Many still remember vividly the mad days of the
Wonder banks in the early 2000s. Then, many lost their hard-earned money
to the likes of Pennywise and such other scammers.