The Central Bank of Nigeria has warned Nigerians against patronising an online investment scheme tagged ‘MMM' stating that their activities were not regulated by CBN.
The Head, Consumer Protection Department, CBN, Hajiya Kadija Kassim, stated this during a mentoring programme for students of the Government Secondary School, Suleja, Niger State.
The platform has embarked on an aggressive online media campaign to lure the investing public to participate in what it called “mutual aid financial network,” with a monthly investment return of 30 per cent.
She said, “We have heard about the activities of MMM, but I want to warn you against it because they are wonder banks that are not regulated.
“Desist from their activities because they are fraudulent.”
