But the promise of a return has proven scant assurance for Nigerians with money trapped in the scheme. Taking to social media, MMM participants have requested clarity and complained about the suspension of operations in the typically busy festive season.

MMM’s suspensions of operations in Nigeria is similar to events in South Africa where the scheme collapsed and was forced to start over. In that instance, MMM also blamed the collapse on “persecution” which it claimed was “organized by the mass media” to provoke panic. Similarly, in Zimbabwe, the scheme temporarily suspended operations and slashed withdrawal exchange rates upon resumption causing participants to lose 80% of their investment. It remains to be seen whether the scheme will make a January return as promised, but if it does, there’s a good chance, having faced the prospect of losing their money, participants are likely to be only interested in getting out their cash.

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