MMM Nigeria, the scheme where members invest and are paid back between two weeks to four weeks with thirty percent profit have been frozen to stop withdrawal also referred to as payments.

According to ceoafrica, some users of the scheme including a “Guider” confirmed that their account has been Frozen in which a message from MMM administrator indicated that the freeze will last for a month hitherto blamed on the government.

The message reads thus: “Dear Members, as usual in the New Year season the system is experiencing heavy workload due to the closure influenced by authorities in the mass media. The thing is still going well, the participants feel calm.

Hence on the basis of the above mentioned, from now on all confirmed Mavro will be frozen for a month, as Marvo refers to the wallet which records member’s activities”.

It would be recalled that the Federal Government through management of financial institutions have warned the members of the public against patronising the MMM which they referred to as “wonder bank”.