Business

Naira Weakens To N490/$ At Parallel Market

Lagos – The Naira on Wednesday weakened to N490 to a dollar at the parallel market after appreciating to N485 to a dollar during the Christmas break (more…)

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Naira Falls As Dollar Scarcity Worsens

  • December 16, 2016

The Naira on Friday fell at the parallel market as dollar scarcity worsened ahead of the Christmas season. (more…)

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Ghen Ghen! Heritage Bank In End-Stage Distress

  • December 16, 2016

Heritage Bank Plc, SaharaReporters has learnt, is a ghost that its management is desperately trying to give the appearance of a virile financial institution. Sources in the bank told SaharaReporters that the management has been borrowing (more…)

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JUST IN!!! Bankers to be Sacked Over MMM ‘Crash’

  • December 15, 2016

 JUST IN!!! Bankers to be Sacked Over MMM ‘Crash’

Indications have emerged that many bank workers may lose their jobs over the recent crash of the Ponzi scheme MMM.

Banks may sack workers that introduced customers to scheme (more…)

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Man Beats Wife to Coma for Investing Children’s School Fees in MMM

  • December 15, 2016

 Man Beats Wife to Coma for Investing Children’s School Fees In MMM 

According to Pulse Nigeria, a 45-year-old man identified as Mark Friday, has been arrested in Calabar, the Cross River State, for allegedly beating his wife to a coma for allegedly using the money meant for their children’s school fees to invest in the MMM Ponzi scheme. (more…)

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Are you into MMM? This is for You: CBN Reacts to MMM ‘Crash’

  • December 15, 2016

‘Stop Investing In MMM’ – CBN Warns Nigerians Again

The Central Bank of Nigeria (CBN) has once again cautioned the citizenry against investing in the ponzi scheme, Mavrodi Mundial Moneybox (MMM).

The scheme operators stopped the accounts of its investors in Nigeria few days ago.CBN Director of Development Finance Dr. Mudashiru Olaitan gave the warning at a business leaders’ conference with the theme: “Prospering in a recession”, organised by EZ37 Solutions in Ibadan. (more…)

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Women Pose Uncl@d To Protest Facebook Rules (See Photos) I8+

  • December 15, 2016

Women Pose Uncl@d To Protest Facebook Rules (See Photos) I8+

Photographer Trina Cary, who posts nude pictures of herself regularly on facebook is fed up of being told that her Unclad body is unacceptable.
She said she was fed up of seeing videos of Unclad men, sexual and suggestive images, and violent pictures shared on Facebook without any issue, while her artwork was banned. (more…)

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JUST IN!!! MMM Participant Slumps, Dies in Bank

  • December 15, 2016

JUST IN!!! MMM Participant Slumps, Dies in Bank 

According to BusinessPostNigeria, at least one person was feared dead while several others were wounded in a stampede at various banks in Warri, Delta State, after the promoters of the popular Mavrodi Mundial Moneybox (MMM) suspended the accounts of about 3.3 million Nigerian participants. (more…)

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BREAKING NEWS!!! Senate Okays Data Price Hike

  • December 14, 2016

BREAKING NEWS!!! Senate Okays Data Price Hike

The Nigerian Communications Commission (NCC) has acted in national interest on the issue of data price increase, the Senate Committee on Communications has said.

The Committee, which visited the NCC headquarters in Abuja on Tuesday as part of it oversight functions, said Nigerians should see the commission as being on their side on the issue of data price increase. (more…)

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BREAKING!!! About-to-wed Man Drinks Insecticide Over Alleged ‘MMM Crash’ (Happening Now)

  • December 13, 2016

BREAKING!!! About-to-wed Man Drinks Insecticide Over Alleged ‘MMM Crash’ (Happening Now)

A soon-to-wed man simply identified as Adakole is currently between life and death after allegedly taking insecticide following the alleged crash of Ponzi scheme, Mavrodi Mondial Moneybox, famously known as MMM.

The incident happened in Otukpo, Benue State, after promoters and participants were thrown into confusion on Tuesday following the news that the ponzi scheme has been frozen. (more…)

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“OMG! I Invested N16Million in MMM”, Popular Media Personality, Noble Igwe Cries Out

  • December 13, 2016

“OMG! I Invested N16Million in MMM”, Popular Media Personality, Noble Igwe Cries Out

Noble Igwe shares hilarious tweets about MMM; says he invested his office rent. Today, It was announced that MMM Nigeria has frozen it’s members account for one month. Media personality, Noble Igwe took to twitter to share Hilarious tweets about how he invested his office rent in MMM, pleading that he wants his money back, even without the interest.

See screenshots below and read his story. (more…)

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EFCC Responds to User Who Called Them Out Over ‘MMM Crash’

  • December 13, 2016

 EFCC Responds to User Who Called Them Out Over ‘MMM Crash’

Nigerians have taken to Twitter to react to news of the freezing of all MMM Nigeria accounts.

A user @Lolami_Boo took to the platform to call out the EFCC for not preventing the crash.

EFCC immediately responded.

See Screenshot below (more…)

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JUST IN!!! The Owner of MMM Nigeria Unmasked + a Shocking Revelation (Photos)

  • December 13, 2016

 JUST IN!!! The Owner of MMM Nigeria Unmasked + a Shocking Revelation (Photos)

A Nigerian, who styled himself as Pastor Ernest Chigozie Mbanefo is the mastermind of the suspected Ponzi scheme known as MMM Nigeria.
According to an online report, Mbanefo is based in South Africa.

Communications Week said Mbanefo registered the site MMM-Nigeria.net domain on June 7, 2016 about at about 5 pm Nigerian time. (more…)

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Account Freezing: MMM Reacts To Nigerians’ Outbursts

  • December 13, 2016

 Account Freezing: MMM Reacts To Nigerians’ Outbursts 

In what’s like an official reaction, MMM has said all were advised to only use spare cash. Now you heard!

See screenshots below (more…)

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How MMM Crashed in Zimbabwe & S/Africa and Why it May Have Finally Crashed in Nigeria

  • December 13, 2016

How MMM Crashed in Zimbabwe & S/Africa and Why it May Have Finally Crashed in Nigeria

 “MMM Pays investors not from genuine market investment of their funds, but from contributions made by new investors, until a point when the scheme can no longer attract new investors”.

“What it simply means is that the number of people in need of help has outnumbered the number of people joining. The Scheme Crashes. Right now we have nowhere to get our money which we invested.” (more…)

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