MMM: Access Bank warns customers against scheme, says it is fraudulent

At a time when there are growing apprehension that the Mavrodi Mondial Movement, MMM, scheme is fraudulent, Access Bank of Nigeria has warned its customers to avoid dealing with it.

This is coming after CBN has warned Nigerians against the Ponzi scheme by declaring it illegal.

In a circular sent by access bank to its customers, the bank cautioned that customers involved in the controversial ponzi scheme, stand a risk of losing all their money, as the institution is not insured by the Deposit Insurance Corporation (NDIC).

“Please be advised that this scheme is not in line with any applicable or known investment product and may ultimately lead to loss of funds in the long run.”

“We advise that customers avail themselves of genuine and approved investments and products in the Nigerian banking environment.”