The
thoughts of assistance to MMM victims have been traversing the media
space in recent times with the NDIC taking a firm stand.
Umaru Ibrahim
The Managing Director of the Nigeria Deposit Insurance Corporation,
(NDIC), Umaru Ibrahim, has said the agency cannot do anything except to
offer some prayers to the victims of the recently crashed Mavrodi
Mundial Movement, (MMM), according to the DailyTrust.
The MMM which suspended its window in Nigeria last week due to what it called ‘heavy workload on the system’ is a scheme that “pay out current investors with new investors money.”
Ibrahim who spoke to Journalists over the weekend at the Workshop
for Business Editors and Finance Correspondents in Kaduna said the
Corporation will not relent in calling on Nigerians, sensitizing and
enlightening them on the dangers of patronizing wonder banks.
He said beside the MMM case, there are some new cases of the
emergence of the wonder banks in recent times in places like Enugu,
Kaduna and Plateau states.
“For us, we already told Nigerians that MMM are not recognise,
they are illegal, but some insisted that they are legal, all hands must
be on deck to educate the public, today is MMM, tomorrow it could be
YYY,”
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