In a new analysis on television, ‘an MMM special’, a host has spoken out on why MMM is a Ponzi Scheme, and the inevitable collapse of the platform.
Ndani television’s ‘Analyse This’ co-host, Tunji Andrews comes out of the park swinging with this refreshing take on everyday financial issues – “2 Minutes Money”.
This Episode is an MMM special where Tunji spoke on why MMM is a Ponzi Scheme, and the inevitable collapse of the platform.
“You give loans to the average Nigerian at 25%, then turn around and borrow money from the same Nigerians via savings account at 3%… 3 bloody percent. The issue here is that CBN will not cut rates, then you expect people not to join MMM,” he said.
He lamented the fact that finance professionals are looking into the scheme from the Risk and Return point of view.