Wahala Dey o! Artisans in Tears as Woman Flees Home After Losing their N4.5m from Daily Contributions to MMM Ponzi Scheme

A woman said to be from Nnewi, Anambra State has left hundreds of artisans and motorcycles operators in Ejigbo area of Lagos in utter shock and tears after she disappeared with N4.5 million they contributed through daily savings scheme popularly called ‘Ajo’.

It was gathered she invested the money in MMM ponzi scheme and fled shortly after it got stuck in the scheme.

According to PM Express, the incident happened at Anuoluwapo Street in Ejigbo where the woman resided with her family and also used as her office. The woman identified as Ogochukwu is nowhere to be found after she secretly moved out of the house with her family members.

She was said to have used the ‘Ajo’ money for the ponzi scheme hoping that she will make profit from the scheme only for the money stuck making it unable for her to access the fund.

The scam was exposed when those who deposited their money in her care wanted to withdraw it in order to pay school fees and house rent but she started telling them stories and making unfulfilled promises.

It was gathered that when she could not settle those who needed to take their money back and others got to know, they reportedly came at once to take their money.

According to the victims, she asked them to come the next day so that she will go to the banks to withdraw the money but when they came they were told that she had parked out in the night to an undisclosed place. P.M.EXPRESS visited the residents and her neighbours and confirmed the incident. They explained that the woman had to leave for her safety and that of her family.

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Meanwhile, the police have been making effort to trace her as she was said to have gone back to their village in Nnewi, Anambra State. Some of the victims lamented their frustration over the incident. Some said they have been saving the money to in order to pay their children’s school fees and rent because they were not making much money again, but could not do so again because of the fraud.

Some of the victims said that the woman was greedy otherwise she would not have used the customers money for the MMM ponzi scheme and thereby putting the life of many families in jeopardy.

The Author

Chinenye Nwabueze

Nwabueze is a communication researcher with several years of lecturing experience in Nigerian universities.

2 Comments

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  1. Okonkwo Chidimma Genevieve

    MMM wahala ,no be small tin

  2. Okonkwo Chidimma .P. Genevieve

    MMM wahala , e no dey easy

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