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What is MMM Nigeria? Is Nigeria-MMM.net Scam or Legit?
There is no doubt that Nigeria-MMM.net is a bad company because it is a company from the owner who has already scammed the millions of money from people in various countries with same MMM business. So, it is 100% sure that Nigeria MMM will be also turned into scam one day same as those MMMs in other countries.
Actually, Nigeria MMM is a combination of two illegal schemes, Ponzi and Pyramid schemes, commonly known as a cash gifting scheme. If you don’t know about Ponzi and Pyramid schemes, then you can find the details by clicking the respective links as below:-
Ponzi scheme:- newsonlineincome.com/ponzi-scheme/
Pyramid scheme:- newsonlineincome.com/2017/03/06/what-is-pyramid-scheme/
So, now you know either is Nigeria MMM a scam or a legit, what is Nigeria MMM in real. So, if you are searching for the Nigeria MMM reviews to find out what is Nigeria-MMM.net in real, then you don’t have to search any other MMM Nigeria reviews for that because here, within our Nigeria MMM review, you are going to find out the complete truth about MMM Nigeria.
However, after knowing the fact that MMM Nigeria is a scam company, if you don’t want to find out more details on it, instead want to find out the real ways to make money online, then you can find that by clicking this link:- newsonlineincome.com/legitimate-work-home-businesses/
Among all of those real ways to make money online, our No.1 recommendation is Wealthy Affiliate about which you can find the details by clicking this link:- newsonlineincome.com/wealthy-affiliate-review/
OK, let’s continue with our MMM Nigeria review to find out in detail what is MMMNigeria and why is MMM Nigeria scam, a cash gifting scheme.
Nigeria MMM login link (MMM Nigeria official website):- Nigeria-MMM.net (Not recommended to join)
Why is MMM Nigeria a Scam?
MMM Nigeria is a scam due to its business model which is completely illegal. It offers the cash gifting business model where members have to gift a cash to each other in order to get the higher return like up to 50% per month.
Actually, when you find out any businesses offering their investors (known as donors in MMM) very high rate of return such as 50% per month, then you should know the fact that is not a real business because real business never guarantees such high rate of return in a month.
Yep, we agree that MMM calls itself a donation program, not the investment platform and make people believe that money will be transfer from one member to another member and company will not take any benefit from that. However, in reality, the owner of these kinds of companies make lots of fake accounts and take a donation from the members by pretending to be the member. This is how the owner of these kinds of companies make a profit.
On the other hand, lots of MMM sites have been already collapsed in many countries where lots of people have already lost their money. Even the government authorities of many countries have already warned people not to join MMM or similar kinds of businesses. Even in Nigeria, “Nigeria Deposit Insurance Corporation (NDIC)” has already warned Nigerians against investing their money in schemes like MMM.
However, people don’t want to accept the reality when they are making money. The same thing is happening in MMM Nigeria. Since every Ponzi schemes able to pay at starting, similarly, MMM Nigeria is also paying its members. But, the businesses like MMM never can sustain because, in order to be sustainable, they need to have a continuous flow of new investors in the company which is not possible. There will be a point where it will be unable to get new investors due to which those who join at last will not make any profit and leave the system and whole system start to backfire from down to up. That is why government bodies have marked these kinds of companies as illegal ones because at the end majority of members will lose their money in these kinds of schemes.
MMM Nigeria and other all similar kinds of sites are operated by Mr. Sergey Mavrodi who is a fraudster and has been already jailed for running a scam which was also called as MMM. You can find more about him and his previous scams within Wikipedia page by clicking HERE.
In order to find out more about MMM and its owner, you can take a look at our review on MMM Global by clicking this link:- newsonlineincome.com/mmm-global/
Aforementioned, it is already clear that MMM Nigeria is from the same owner who has already scammed millions of money from various people around the world with exactly similar kinds of sites which proves MMM Nigeria is also one of those scams. So, we don’t recommend Nigeria-MMM.net and have listed it in our Bad and Scams category.
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