Has MMM Nigeria collapse is the most frequent questioned asked by most Nigerian who are members of the community or those who want to join MMM Nigeria. Well, I understand the fear! Nobody want to lose a dine not even in this type of economy we have.
This an update of my previous post on when Will MMM Nigeria collapse? But come to think of it, do you really think anyone will tell you exactly when MMM Nigeria will collapse?
Are you praying for MMM Nigeria to collapse, after the scheme has put smiles on the face of many Nigerian.
My recent finding reveals that over 50% of NYSC serving corps member have joined the scheme. 50% of unemployed graduates who have heard of MMM has also joined the scheme.
I was in bus on listening to people discussing about MMM Nigeria, and one of the guy said, that whoever see Mavrodi should appreciate the guy for saving him from financial stress. Enough of my story.
Let start by what is MMM? MMM means Mavrodi Mondial Movement or you call it money making machine.
How does it work?
The scheme simply bring people of same like mind to help each other in solving their financial needs. So once you register in the platform, you will indicate how much help you can provide to others in financial terms.
You will then be matched with another community member who need help and have provided help before or within two weeks. You will be given the person details to pay in the amount you promised to help, after providing the help you will then be eligible to receive help usually after 14 working days.
Having provided help to others, you can request for help of 130% of your initial deposit with extra allowance that you will gain from it. For instance, If you provide help of 100k, you eligible to receive help of 130k plus $20, $50, and $100 depending on the amount you provide. Remember, you can only get the full 30% increase if your request lasted up till full mouth.
If you are willing to join the system follow this link and join now. MMM Nigeria official website. Wait to read the risk involved.
Implication of MMM to the Individuals
Implicitly, many Nigerian life has changed for good through the platform of MMM Nigeria. There are many witnesses to this. People have made thousands of naira from the scheme. The people that made money from the platform are now spreading the Good news and is fast spreading like wired fire.
I have met guys that invested their school fees in MMM Nigeria, have equally seen people who claim they bought brand new car from money made from MMM Nigeria.
The implication on individuals is a two way things; most people will forever remain greatful to MMM Nigeria for changing their financial life. However, if MMM Nigeria collapse most Nigerian who joined newly then will lament.
Another implication is that most Nigeria will be more relaxed even when there is no job, some will no longer pray for job after all how much will they pay you on paid employment compared to what you can make in MMM Nigeria.
Implication of MMM Nigeria on Nigeria economy
Nigeria is currently experiencing serious economic economic recession, with massive job losses from left to right. The country is experiencing hyperinflation – where inflation and unemployment are increasing simultaneously. The price of goods are intimidating, yet there is no money to make purchases.
Companies both large, medium, and small are folding leading to job losses in banking and in related industry. The ability of the economy to absorb the mass unemployed graduate is challenged by the, low or no industry, low skills levels amongst the unemployed, which creates a perfect storm in an economy with a skill deficiency in critical sectors.
The government has made some good and hazardous economic policies in their quest to solve majority of the problem faced in Nigeria. The causes of the current Nigeria predicament has been attributed to many factors. Refer to my post on Causes and solution of economic recession in Nigeria.
Nigeria economy is very bad. The implication of MMM on Nigeria economy is that funds in the household will all be channeled to the community mostly making the resources unproductive. Most people will no longer engage in any productive activities and relying only on MMM.
Trust many Nigerians, most people will eventually die the idea of doing any other business. So long they make money from MMM without working. Sorry! I have not answer your question.
However, the community has reduce pressure on the government from unemployment youth. People no long rant in social media but rather devote their time to convince other people to join the community.
When will MMM Nigeria Collapse?
Don’t be deceived MMM Nigeria can collapse and may not collapse depending on the behaviour of Nigerians. Yes! It has collapsed in some places according to ( wikipediaMMM), when the existing members will exceed the new entrants or when .the existing members out of fear of any kind stop injecting funds into the system. Though the system has been rebranded to accomodate the cause of the initial failures.
Like every other investment, MMM Nigeria can only collapse when people loss confidence on it and people stop joining the scheme.
Expectation Behaviour of consumers
In economics we learned that expectation of price rise leads to hoarding which eventually leads to rise in the price. The same apply here, the threat by the federal government, national assembly and the feeling that MMM Nigeria will collapse, surely will leads to its collapse., if the participants give in to the pressure.
Just like what happened recently in the system, if participant gives in to the pressure it might become tough for MMM to sustain beyond now.
Will MMM be banned by the Government
I don’t know much about the law, but I must confess that the MMM guys are smart enough by calling the programme donation. So the government have no legal ground to banned it since they are like an NGO with the mindset of connecting people together to help each others. I stand to be corrected please- law students.
Like someone said, MMM site is not hosted by Nigeria website hosting company, so for the government to bring down the site is near impossible as it must follow series of legal platforms. The government might however, treating some guiders who host seminars and promoting the community. This way the awareness might equally reduced.
Recently the national assembly set up a committe to investigate MMM and get back with reports, reports also has it that, they equally ask the EFCC, CBN, NIDC, to shut MMM Nigeria down but the group reported that their hands are tied as they have no charge against the participants of MMM Nigeria.
I don’t know for sure when MMM Nigeria will collapse, maybe now or never.
My advice, as indicated in the website, don’t donate any money that will pain you too much if you lose it tomorrow. That is the secret.
Hey invest from your extra and not your all in all. Hey! Drop your comment.