There are pointed indications that EFCC will most likely be unable to follow MMM promoters as they consider them to be individuals approaching their very own and private business which is not illicit.
As indicated by report from a source in EFCC, MMM is not an unlawful business therefore we can’t pursue the promoters of MMM.Our questions to the National Assembly is “What are we going to charge the promoters of MMM for? Whatlaw have they violated? What money has the system stolen”?. All these and many more are questions that we need to consider before taking any actions.
MMM does not have any office in the country where we can go and ask for details about theiractivities. So our hands are tight.The source also went further to state that people who participate in MMM are doing so at their own risk. As such they would have themselves to blame for any negative outcome. It is not for us to tellthem what to do with their money. Just as we do not stop people form investing onany legal business venture, we affairs stop people from participating in MMM.
Since MMM came into the nation and resuscitated the standard of living of few Participants who are members on the MMM business, as regards the current nature of the economy, every single financial institutions even from the CBN has been shouting loud that MMM is a ponzi scheme and that Nigerians should desisit from it.
Like one of the CBN source once said that, “MMM is not registered with the corporate affairs commission (C.A.C) in Nigeria”. But Nigerians would not heed to such warning. As they believed that the MMM business came into the nation at the very best of time.