The declaration of the Central Bank of Nigeria (CBN) that Mavrodi Money (MMM) is a big scam has not gone down well with many Nigerians.

Indeed, the federal government and Central bank of Nigeria have come under heavy fire for putting Nigerians in such a precarious position, that a Ponzi scheme like MMM appears so attractive.

According to CEOAFRICA’s source, Niger, A cross-section of Nigerians who vented their anger on social media said the government should cover its face in shame for not being able to take care of its citizens.

Others feel that the risks CBN said the MMM posed, while real, was all right with them because they would rather put their money into a scheme that gives them return on investments than in banks where the money even goes missing for many reasons.

It would be recalled that the head of consumer protection department, Hajia Khadija Kassim of the  Apex bank on Monday warned Nigerians against patronising what it called "wonder banks," stating that their activities were not regulated by it which is fraudulent.

Hajia Kassim made the statement during a mentoring programme organised for students of the Government Secondary School, Suleja, Niger State.

The mentoring programme was done simultaneously in over 200 schools as part of activities marking the World savings day.