Most of you have heard of MMM and have criticized it. Yeah I did too, But today am a Participant. MMM started in 1989. But the system was shut down because the MMM system was using a centralized account/payment system and was attacked by the government through different regulation and policies because MMM was controlling 1/3 of the money in Russia Economy. Guess what, It bounced back to Life! MMM Nigeria was introduced in November 2015.
Now it has no Centralized Account/Payment system also beating government regulations (There is no regulation/policy stopping anybody from providing help for another person.)
Today MMM Nigeria has grown big and lots of life have been changed through it. Sometime ago the Nigeria Government send a warning to the public about MMM. Wondering Why?
MMM Nigeria works by allowing people donate money to each other by providing help for One another.
Mr Adebayo go to XYZ bank to put his money (₦350,000). Mr Uche needs ₦350,000 for his business, he goes to XYZ bank to borrow ₦350,000. XYZ Bank collected the money back after a period of time with XX% interest on the money. Now Mr Adebayo wants his money back after a period of time, XYZ bank will give him X% (Far Lower than the interest collected from Mr Uche) for allowing his money stay with them for a period of time. That’s just a simple illustration of how bank system works.
MMM Nigeria Concept
Mr Adebayo come on the platform and indicated that he wants to provide help of ₦350,000. The system automatically searches for Mr Uche on the platform who has provided help within 30days and his money has yielded 30% increase. Then Mr Uche’s banking details is sent to Mr Adebayo to give help Simple! All these happens through a Virtual office (Online office). The same Process happens for Mr Adebayo after 30days when his money has also yielded 30% increase. You can hold you money until after or within 2 weeks you will then be matched with someone who needs help.That’s All!
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