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Monday, 19 December 2016

Before You Mock Anybody For Investing In MMM-NIGERIA, Ponder on This


As a former senior bank staff with relative good knowledge of "commitments" in retail banking, I had to scold and tongue lashed some closed persons for investing their hard earned money in MMM-Nigeria, eventhough I know all investments carries with them various forms of risks. But when I sat back to ponder on and ex-rayed investments in Nigeria, I was left with nothing but a feeling of sympathy for MMM-Nigeria investors/subscribers. 

I recalled with nostalgia how a friend invested all his Savings from NYSC in Savanah Bank, the Bank packed up and left him with nothing. I bought 10,000 shares in Transcorp when Obasanjo and "Madam Stock Exchange" initially sold the fraud to Nigerians but up till today, no shares were allocated to me and my money was not refunded. I remember my then employer deducting money from my wages and paying into government owned Housing Fund and also into the National Pension Fund, the 2 bodies were dissolved and my money dissolved with it.

 Millions of Nigerians also paid into the same funds for more than 30 years and nothing came out of it.
Some state governments are owing their workers up to 1 year wages, the federal government and some parastatals are not different.

My father gave his life to P&T (post and telecommunications) dept as a very dedicated staff. But many years after his death, his entitlements are yet to be paid.

Remember how government came up with idea of community banks and encouraged Nigerians to patronise them, remember Allied Bank, Lobi Bank, Abacus Bank, City Express Bank, Assurance Bank of Nigeria, Hallmark Bank Plc, Ivory Merchant Bank, Lead Merchant Bank, Metropolitan Bank, All States Trust Bank, Coop and Commerce Bank, Commerce Bank, Credite Bank, Pinnacle Commercial Bank, Kapital Merchant Bank, Ivory Merchant Bank, Prime Merchant Bank, Republic Bank, Eagle Bank Plc, Liberty Bank, Progress Bank, North South Bank, Pan African Bank; remember pensioners who had their money in Societe Generale, don't forget the traders whose lives were destroyed by Gulf Bank, and many more too numerous to mention. Should we blame these people for keeping their hard earned money in NDIC insured banks? Don't ask me about NDIC please.

How about the money you worked hard for and contributed when your Churches /Mosques wanted to establish those private secondary/ universities and now your children are excluded from the qualitative education they offer because you can not afford the tuition fees ? What do you think about the money you pay to NEPA or whatever it is called now every month regardless of whether they supply you electricity or not ?

How are these different from MMM-Nigeria?
I agree that some people are into MMM-Nigeria because of greed but most of those who invested in MMM-Nigeria did so because they have been duped by some government backed schemes in the past. There is poverty in the land and people are looking for ways to survive. They knew the risk they were getting into and were all willing to take the risk. Afterall, living in Nigeria at all at this moment is a risk and working for the government is also a risk slightly lower than investing in MMM-Nigeria.

The truth is every Nigerian living in Nigeria is into one form of MMM- Nigeria or another, so there's no need mocking anybody taking risk, so long as it is with their money.
Afterall, Nigeria itself is a Ponzi scheme OR what do you think?


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