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MMM subscribers lobby federal lawmakers to legalise scheme

03 January 2017, 15:10

Abuja -  Subscribers of the Mavrodi Mondial Moneybox (MMM), are planning to meet with the House of Representatives’ committees on Finance and Banking and Currency to seek for government’s recognition of the scheme.

MMM community in Abuja, who are planning to meet the lawmakers said it hopes to submit a proposal for the amendment of the Banking and Other Financial Institutions Acts (BOFIA) to legalise the operations of the scheme and similar money initiatives in the country.
This was made public by a member of the steering committee of the MMM community, Mike Chukwuma.

 He said the MMM community in Nigeria would engage the services of financial experts and lawyers to draft a bill, which is aimed at amending the BOFIA law.

Chukwuma said the interactive meeting would take place as soon as the National Assembly reconvenes from the Christmas and New Year holiday.

Also read: Reps warn Nigerians against investing in MMM scheme

He noted that the community is already trying to establish contact with the Banking and Currency Committee Chair, Hon. Jones Onyereri and his colleague in finance on an acceptable date for the meeting.

News 24 recalls that the House had in November 2016, passed a resolution seeking the abolition of the financial policy and probe of its promoters in the country.

The House also ordered the Economic and Financial Crimes Commission (EFCC) and the Central Bank of Nigeria (CBN) to immediately go after the promoters of the scheme in Nigeria.

- News 24


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