MMM Nigeria, the most popular ponzi scheme in the nation, says it has removed all requests for payment on the system, but it has by no means cancelled them.
In a statement on Tuesday, the scheme said that “although some people called it ‘cancelled’, the truth of the matter is that it was only removed not canceled””.
“Please note that the GH orders were not cancelled because if cancelled, you will see it at the right hand side as deleted. It was removed because of the following reasons:
“There is an ongoing upgrade because programmers are always working on the MMM system every day so the promised New Model can be unveiled as soon as possible.
“More so, many participants have formed the habit of cancelling their GH orders and creating new GH orders hoping they will be matched earlier.
“There is no need for that anyway but to forestall that, the created GH orders were removed and that is why you can’t create new GH orders because the old GH orders have not been cancelled but removed and withdrawal is still pending.”
The scheme said there was no need for participants to panic, maintaining that it would pay participants who had requested for their monies.
“There is no cause for any alarm over the removed GH orders, if you check your Mavro, you will notice the value of the removed GH order has been restored and had also increased though it is still showing pending withdrawal,” it added.
“There have been reports of ‘removed GH orders’ in some POs. The removed GH orders are mostly GH orders created on Friday/Saturday.
“There is no cause for any alarm. The value of the removed GH order has been restored and increased though showing pending withdrawal.”
It asked participants to “please await further instructions either to create a new GH order or if it will be automatically restored and matched”.
“We crave your indulgence, patience & understanding at this period. We are doing our best to have these issues/upgrades resolved ASAP,” it said.
“Let’s be patient while the Administrators of MMM do their best to restore the confidence we have in the system.”