Published On: Mon, Feb 20th, 2017

Nigerian Student Loses House Rent to MMM, Evicted into Nearby ‘Bush’


A Nigerian student has recounted the present predicament of his friend who invested in the failing Wonder Bank, MMM for an attractive return of 30% within a month.

The unnamed person invested part of his house rent but unfortunately for him, the social network ran into financial difficulties after members lost faith in the scheme starting from December 13, 2016.

His funds are as good as gone as his landlord has evicted him with no place for him to stay currently. There are possibilities of him taking refuge in a nearby bush as that is the only free accommodation available to him aside squatting with friends or colleagues.

Read the full note published by his friend on a popular Nigerian online forum:

“I’m a student of one of the eastern tertiary institutions, any one from the east will know that the highest number of ponzi scheme investors come from eastern universities.

Well my close friend spent up to 150k (part borrowed and part of his house rent money) to buy bitcoins for mmm united. Long story short, wallet got hacked money went down the drain, there was a middle man in the bitcoin transaction though, but the guy has been begging for time to raise the money to refund my friend.

The problem is, my friend’s grace period for his house rent payment is expired now and he has a no nonsense land lord who has kicked him out, he’s still squatting with some neighbors for now.

I advised him to confess to his parents but he refused bluntly. insisting he has a good chance of getting his money back from the middle man who bought bitcoins for him.

Anyone with sensible suggestion and advise should kindly share please. Stay blessed.”

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About the Author

- Damilola is a full time journalist/writer/freelancer and blogger.