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MMM founder Sergei Mavrodi dies of heart attack

Sergei Mavrodi, a Russian businessman whose MMM pyramid scheme deprived millions of Russians of their savings in the 1990s, has died of a heart attack, according to Russia media.

NDIC warns Nigerians to beware of ‘wonder banks’

The Nigeria Deposit Insurance Corporation (NDIC) has urged Nigerians to be wary of “wonder banks” that give extra-ordinary interest rates and profits on investments.

British banks ban buying of bitcoin with credit cards

Britain’s biggest lender, Lloyds Banking Group Plc, has disclosed that it would ban its credit card customers from buying crypto currencies.

Senate to clampdown on Bitcoin, ponzi scheme operators

The Senate of the Federal Republic of Nigeria has expressed great concern over the widespread usage of Bitcoin, a form of Cryptocurrency and other ponzi schemes across the country.

Bitcoins, others like Ponzi scheme – India’s finance ministry

India’s finance ministry on Friday cautioned investors about the risks of trading in cryptocurrencies such as bitcoin, saying digital currency investments are like “Ponzi schemes.”

Nigerians must earn from productivity, not rent – Governor Aregbesola

Governor Rauf Aregbesola of Osun State has identified unearned income from rent, rather than productivity, as the major challenge facing Nigeria in terms of its economic development.

Man stakes employer’s N3.5m on MMM, lands in court

A 24-year-old man, John Okonkwo, who allegedly stole his employer’s N3.5m and invested in the Mavrodi Mondial Movement scheme, on Thursday, appeared before an Ojo Magistrates’ Court.

Criticisms trail MMM ponzi scheme “restart” announcement

Criticisms have continued to trail the announcement by the management of controversial ponzi scheme, MMM, that the organisation has officially commenced a “RESTART” of the system.

Recent Stories

Governor Abubakar: I will unite factions in APC

Governor Mohammed Abubakar of Bauchi State has said that he was committed to uniting all aggrieved members of the All Progressives Congress (APC) in the state.

Dakuku Peterside: Maritime security critical to Nigerian economy

Dr. Dakuku Adol Peterside, Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), has described security in the Nigerian Maritime domain as work in progress that requires the commitment of all stakeholders to ensure optimum safety of all investments in the sector.

APC: Timi Frank spoke in personal capacity

The All Progressives Congress (APC) says Timi Frank, a former deputy spokesman of the ruling party, spoke in his personal capacity.

Governor Wike: Federal Government plotting to kill me

Rivers State Governor Nyesom Ezenwo Wike has alerted Nigerians wth claims that the APC Federal Government is plotting to assassinate him in a crowd and claim accidental discharge.

Donald Trump ‘demands’ probe of alleged spying on his campaign

US President Donald Trump sharpened Sunday his accusations that his presidential campaign was "infiltrated" or spied on for political purposes, saying he would officially "demand" a Justice Department investigation.