Nigeria: Nigerians Lost N18 Billion to Ponzi Scheme Operators, Says NDIC

The Nigeria Deposit Insurance Corporation (NDIC) has said three million Nigerians lost N18 billion in the Ponzi scheme, popularly called Mavrodi Mundial Movement (MMM). Speaking yesterday during the NDIC day at the 38th Kaduna International Trade Fair, the Managing Director, Alhaji Umaru Ibrahim, said despite repeated warnings by the Central Bank of Nigeria (CBN) and the…

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