The decision of Ponzi scheme Mavrodi Mondial Moneybox on Tuesday to freeze the accounts of participants for one month caused panic among millions of Nigerians who shunned warnings by the Federal Government and embraced the scheme.

It’s no longer news that the one time fast-growing money scheme, Mavrodi Mundial Moneybox (MMM), has announced the frozen of its members’ account in Nigeria for one month, and placed a temporary ban on the accounts and on all withdrawals starting from December 13.

This has shocked and created despair for millions of Nigerians who have invested their money in the ponzi scheme.

While those behind the illegal scheme insisted in a notice to participants that it had not crashed, close followers of MMM warned that the one-month freeze announced was similar to what happened in South Africa before the scheme crashed there.

Apparently alarmed that their “investment” was lost, and despite shunning the government’s warnings, some users turned to the Economic and Financial Crimes Commission for answers only to get mocked.

When The Reet Petite suggested in a tweet via @Lolami_Boo that it was the EFCC’s job to stop such scams, the anti-graft agency recalled that there were several warnings about the scheme.

https://twitter.com/debo_magnifico/status/808656444191100928