Coming on the heels of the resolution of the House of Representatives for the Economic and Financial Crimes Commission (EFCC) to investigate the activities of MMM Nigeria, the spokesman of the commission, Wilson Uwujaren, has said that the commission has officially begun investigations into the scheme’s activities.
“The unfortunate thing about this MMM is that it is not a Nigerian firm but we are looking at and we will still tell the media whatever we find out,” Uwujaren said.
However, Uwujaren was quick to describe the scale of the task at hand, reminding the public and the House that the wonder bank was faceless with no known identities associated with it. “We can only arrest people based on the evidence that we have. The House made a resolution but the resolution is a public announcement.”
He further used the opportunity to sensitize Nigerians on the dangers of the scheme saying “We have always been advising people not to patronize wonder banks because experience over time has shown that their activities are not sustainable. If you get involved in it, you will eventually get hurt. What we are currently doing is to sensitize people. We know people want to make quick money as a result of recession through this MMM.”
Chacha Wabara is a legal practitioner, blogger and fitness coach. She has over 5 years experience is blogging and freelance writing. She has written several articles and research work over the years as a freelance contributor. She joins the Nairametrics team as our Lead News Editor and Content curator.