Editorial Team

Emmanuel Udom-Managing Editor, Stephen Dijo Philemon-Deputy Editor, Janet Udom-Senior Correspondent, Precious Udom-Senior Correspondent, Williams Ita-Bureau Chief(Akwa Ibom/Cross River), Fabian Idoko-Senior Correspondent

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    Friday, 2 December 2016

    Mbanefo: The face behind MMM-Nigeria

    Ernest Chigozie Mbanefo, a self-acclaimed pastor based in South Africa is said to be the face behind MMM-Nigeria.
    According to Nigerian communication workshop, Mbanefo registered the site: MMM-Nigeria.net domain, June 7, 2016 at about 5 pm Nigerian time.
    News Agency of Nigeria quoted NCW and pageone report written  September as saying that Mbanefo made a single year domain payment, which expired June 7, 2017.
    It was also revealed that MMM-Nigeria is not part of MMM Global – a Russian company that was responsible for one of the world’s largest Ponzi schemes in the 1990s.
    MMM Global was founded by Russian politician Sergei Mavrodi, his brother Vyacheslav Mavrodi and Olga Melnikova.
    The name of the company was taken from the first letters of the three founders’ surnames (MMM).
     But, like the global MMM, the Nigerian scheme is also a pyramid marketing scheme where an investor gets a 30% return on investment.
    January 2016 the Chinese government banned MMM on the grounds that it is a pyramid scheme, (Ponzi scheme), and it is not registered in the country (and as a fraudulent scheme cannot be registered.
    MMM recently crashed in Zimbabwe, where thousands of ‘mavrodians’ in Zimbabwe were left in tears after losing tens of thousands of their lifetime savings.
    Pageone gave Mbanefo’s address as: 1 Royal Street, Lindberg Park, Johannesburg, South Africa.
    According to page one, July 15, Ernest was awarded a certificate of completion of an online course titled ‘MMM Guiders School’.

    The certificate was supposedly signed by Sergei Mavrodi himself. He has since given himself the nickname the ‘Super Guider of MMM’.
    To share news and information about MMM, Ernest also operates a sub-domain ‘news.mmm-nigeria.net. The site praises him and projects him as the leader of the Ponzi scheme in Nigeria.
    MMM Nigeria Super Guider; Pastor Ernest Mbanefo, has been selflessly helping thousands of MMM Nigeria Participants whether or not they fall under his downline structure.
    The brain behind the MMM-Nigeria revolution operation has been working selflessly and tirelessly towards the education, information and proper guidance for the MMM-Nigeria community’

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