The
Nigeria Deposit Insurance Corporation, NDIC, has again warned Nigerians
against investing their money in online and block-chain currencies
schemes.
While speaking at a special day of the NDIC corporation at the
ongoing 2007 Enugu International Trade Fair on Thursday, the MD of
Nigeria Deposit Insurance Corporation, Umaru Ibrahim, has again warned
Nigerians against investing their money in online and block-chain
currencies schemes.
The Managing Director of NDIC who was represented by Nicolas
Ibrahim, the NDIC Controller at Enugu Zonal Office, said that the
warning became necessary to save investments and money of Nigerians.
“I wish to draw attention to emergence of the various Ponzi
schemes, popularly called Mavrodi Mundial Movement (MMM) and other forms
of digital and block-chain currencies.
“These ponzi schemes also came in form of virtual currencies
such as Bitcoin, Ripples, Monero, Litecoin, Dogecoin and Onecoin for
medium of exchange and web based transactions which are neither
authorised by the CBN nor insured by the NDIC,” he said.
Umaru also warned members of the public against activities of some
co-operative societies that had gone beyond their primary mandate of
accepting contributions from their members.
“I wish to emphasise that cooperative societies are established to mobilise savings from their members only.
“I therefore call on non-members not to patronise them as they
are neither licensed as deposit taking financial institutions nor
insured by the NDIC," he said.
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