The Central Bank of Nigeria on Monday again warned Nigerians against
patronising what it called ‘wonder banks, stating that their activities
were not regulated by it.
The Head, Consumer Protection Department, CBN,
Hajiya Kadija Kassim, stated this during a mentoring programme for
students of the Government Secondary School, Suleja, Niger State.
The
apex bank’s warning is coming at a time when the huge unemployment
situation in the country is making a lot of people to take interest in
an online investment scheme tagged: ‘MMM Federal Republic of Nigeria’.
The
platform has embarked on an aggressive online media campaign to lure
the investing public to participate in what it called “mutual aid
financial network,” with a monthly investment return of 30 per cent.
Kassim,
while responding to a question asked by one of the students, described
the scheme as fraudulent since it was not supported by any business
model.
She said, “We have heard about the activities of MMM, but I
want to warn you against it because they are wonder banks that are not
regulated.
“Desist from their activities because they are fraudulent.”
The
mentoring programme, which was held simultaneously in over 200 schools,
was part of activities to mark the World Savings Day.