Scam alert: MMM Ponzi Scheme returns, promises 50% profit on investment

Popular Ponzi scheme, Mavrodi Mundial Moneybox (MMM) has begun operation again, this time, promising those who partake in the scheme a 50% return on any amount invested in it. The scheme which crashed in 2017, resulting in the loss of huge amounts of money belonging to over three million Nigerians in 2017 has resumed operation just like the previous version. This latest version of the scheme known as MMM Cooperation, urges participants to register, invest a particular amount and get investment and interest back after 30 days. MMM had shut down in April 2018 following the death of Sergei Mavrodi, its founder, but has re-launched globally since January 2019. Announcing its resumption on its website, the scheme said: “Like sunrise in the morning , MMM Cooperation set the pace on the 22nd of January 2019 all over the world. From negligence by many to fear of unknown by prospective participants at the beginning; we are were we are today being most populous platform all over the world with 6MILLION participants all in space of 4 months. One of the active participants who has risen to the ranks of a guider in the scheme announced via Twitter a WhatsApp group for interested persons to join and some have indicated interest. But Nigerians who recalled their sour experiences with the scheme expressed mixed reactions about joining as seen below: Meanwhile, the Securities and Exchange Commission (SEC) has warned Nigerians against fraudsters currently running an online investment scheme tagged Loom Money Nigeria. Acting director general of the commission, Mary Uduk gave the warning at a news conference in Abuja on Thursday, May 16. A statement by SEC’s head of media, Efe Ebelo, said that Uduk, who was represented by acting executive commissioner, operations of SEC, Isyaku Tilde, said Loom Money Nigeria had taken over the social media.

FG makes changes in DPR, appoints Ahmad Shakur as acting director

Ahmad Shakur has been appointed by the federal government as the acting director of the Department of Petroleum Resources (DPR). Shakur was appointed following the expiration of the 4-year tenure of the current director, Mordecai Ladan, The Cable reports The appointment which was announced in a statement by the DPR on Friday, June 21, noted that Shakur is, at present, the director corporate services division at the agency. “Following the expiration of the tenure of Mr Mordecai Ladan as the Director of Petroleum Resources, and in line with the provisions of Circular Ref. No.SGF.50/S.II/C.S/268,​” the statement read. “The former Director has formally handed over the affairs of the Department to the most senior officer Mr Ahmad Rufai Shakur, the Deputy Director and Head, Corporate Services Division in an Acting capacity. “Embodied with renowned past records in strategic leadership, corporate governance and optimal performance, Shakur is expected to steer the Department to the next level.” The DPR stated that Shakur is fit for the new role having 32 years experience in the oil and gas industry, especially in the regulatory sector. The statement further explained that the new appointee is a graduate of the Ahmadu Bello University, Zaria, with a masters degree in business administration. It stated that the acting director has held various positions in the DPR from the zonal offices to its headquarters. In 2018 he reportedly served as acting director of the regulator. Meanwhile, following President Muhammadu Buhari's appointment of Mele Kolo Kyari as the new group managing director of the Nigerian National Petroleum Corporation (NNPC) on Thursday, June 20, indications have emerged that the association will in no time undergo serious reorganisation. The said reshuffling is aimed to form a new team to move forward the NNPC's vision. Concerning the perceived reorganisation, a source in the corporation said the new GMD has a well-articulated vision for NNPC, and by extension the nation’s oil and gas industry.

Nazareth kicks against T.B Joshua’s evangelism outreach

An evangelism outreach of Temitope Balogun Joshua known as T.B Joshua, the founder of the Synagogue Church of All Nations, to Isreal, has been rejected by the locals and religious leaders in the country city of Nazareth. Reports by Israeli medium, Haaretz claimed that Joshua, a popular Nigerian televangelist whose church owns Emmanuel Television, is billed to host the ‘Nazareth Meeting with TB Joshua’ on June 23 and 24 at Mount Precipice. Haaretz, Israeli medium, quoted church officials in Nazareth as urging the clerics in the city to avoid any mention of the visit in their sermons. The officials, according to the paper said: “We beg you to not play in the hands of those organising this type of festival which is an affront to the principles of Christianity, and our national identity, and deals a blow to the social fabric of a city like Nazareth.” Most of the churches in Nazareth have supported the officials’ position, according to the Haaretz, except for the Catholic Church who argued that religious persons from outside Israel should not be stopped from visiting and holding prayers like thousands of pilgrims do. The Haaretz added that Muslims in the city and elsewhere also joined in the demand for the cancellation of Joshua’s event. The newspaper also quoted the Hadash and Youth for Change parties in Nazareth as demanding a meeting about the decision to invite Joshua to hold an event in the city at a city facility against the wishes of a majority of residents. Haaretz quoted the group as saying, “We have asked to take an in-depth look at this issue, at why a city like Nazareth would receive such a person is denied entry to many countries on grounds of criminal suspicions and given his links to the extreme right in Israel. “What’s more, the man is known to have grown wealthy in a way that has raised many questions and therefore we view such a visit as an illegitimate step which contaminates the city and its historic heritage, and we absolutely reject the mayor’s claims that such an event would bring $1 million to the city and would see such a sum were it to actually materialise as an illegitimate contribution that would contaminate the city.” Despite its rejection by the country, the church on Wednesday, June 20, through its social media pages invited people with “health-related challenge” or using “medical support/aid” in Nazareth to meet with the Emmanuel TV team before the day of the event. The invitation added: “Please ensure you bring your medical report or any medical aid you are using.” The page of the Israel newspaper: Haaretz Source: UGC Previously Alhaji Lai Mohammed, minister of information, culture and tourism, indicated his willingness to visit TB Joshua’s church in Ikotun, Lagos state. He made the disclosure in Lagos, during a recent media briefing with newsmen on the coming UNWTO-CAF meeting scheduled to take place in Abuja.