"We Are Investigating MMM Ponzi Scheme" — EFCC

The Economic and Financial Crimes Commission, EFCC, has confirmed ongoing surveillance on the MMM investment scheme.
EFCC spokesman, Wilson Uwujaren, gave this indication in an interview with DAILY POST on the sidelines of a training programme in Port Harcourt.


Uwujaren, however, said the House of Representatives cannot direct the EFCC to investigate what he described as faceless wonder bank like MMM.

He said the anti-graft agency was also watching other online schemes that promise huge returns on investments.
The EFCC spokesman said preliminary investigations have shown that such online schemes thrive in countries that are facing economic recession.

He warned that there was big chance of desperate subscribers on such platforms of losing their investments.
“We can only arrest people based on the evidence that we have. The House made a resolution but the resolution is a public announcement.