In the past weeks I’ve read so much noise Nigeria’s House of Representatives has made about prosecuting MMM promoters in Nigeria.
Their debate on MMM in the floor of the house was
laughable: they failed to make reasonable laws that would have lessened the
hardships poor Nigerian masses pass through, rather they were debating on an
investment “opportunity” Nigerians themselves understand the risk involved.
Well, I don’t want to go political here.
That discussion will definitely be for another day,
for now let’s dive right into the 5
cogent reasons why Nigerian Police, EFCC operatives and the CBN cannot arrest
MMM investors and promoters in Nigeria.
MMM
isn’t 419
MMM’s operation is very clear and it’s stated
categorically that there is not guaranty on the 30% interest, investors know
this and they’re ready to take the risk.
Luckily for now it’s working positively for them. Unlike
the mode of operation of 419, whereby you pay and never get what you’re
promised back nor the real money invested.
MMM-Nigeria isn’t like 419.
Security
agents in Nigeria do not have the backing of the law to make arrest of any MMM promoters
When Hon. Fijabi raised the issue of MMM in the
floor of the House he’s ignorant that no law has it that someone who takes risk
with his own money can be arrested, for no cause.
“It’s
the most uneducated motion I’ve ever witnessed since the beginning of this
administration,” a friend fumed while we’re discussing
the issue some days back.
For now no security operatives can arrest MMM
promoters in Nigeria.
Interestingly, some of the so called security
operatives secretly do MMM.
A good number of bank branch managers and their
workers do MMM using monies in their disposal to get the mouth-watery 30%
interest.
That’s cool since they also know they can be laid off any time.
For now, MMM-Nigeria has not violated any part of
the law since it’s a voluntary online investment just like we have forex firms
all over the web. Just like forex trading is risky, MMM is and it’s not for
once hidden that fact.
MMM
has no central bank account
The fact that MMM-Nigeria doesn’t have a central
bank account makes it extremely difficult for any security operatives to trace
where the interest goes.
If there’s a central account dedicated for
depositing MMM monies into, EFCC would have been able to say, “Yes we’ve BVN
of MMM account, so let’s track it.”
Unfortunately there’s nothing like central account
for MMM, that makes it tasking and even unlawful to say you want to arrest MMM
participants.
No
compulsion in MMM registration
One interesting about this mutual aid is that the
more it’s given bad press, the more more Nigerians join.
So, there’s no compulsion in joining. The 30%
interest on the money paid has been one of the reasons great number of Nigerians
are joining everyday…plus the fact that Nigerian government has consistently
failed its citizens repeatedly.
If taking risk is the only reason the government is
worried, then Nigerians are ready to bear the consequences.
If Nigerian people are being beaten or attacked for
not joining MMM, then arrest of such perpetrators would be justified.
MMM is absolutely voluntary.
Arresting
people you can’t see will be crazier
EFCC, police, and other security agencies can only
clampdown on physical addresses. MMM-Nigeria has no branch or headquarters anywhere
in Nigeria.
I understand that corrupt politicians’ houses can be
visited to get evidence against them. That makes prosecution easier.
But none of these exist in MMM. That’s why it’s
crazier to arrest MMM promoters in Nigeria.
MMM activities are predominantly done online. Even
if a promoter wears MMM shirt it’s not enough to arrest the wearer if he/she hasn’t
violated any stated laws in the Nigerian constitution.
The only way to arrest MMM promoter at the moment
will be to shut down the entire www.
I’m a testimony to MMM-Nigeria. If you’re still
contemplating I’ve got the knowledge to lecture you on how MMM works.
Click on the photo below to join.
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