Business
MMM crash: Over 3million Nigerians lose over N18.765billion
*Guider makes N5billion cool cash
*Many suffer high blood pressure
By Olajide Fashikun, Collins Ajibola, Oluwole Francis and Sandra Onyekwere
As thousands of Nigerian participants and investors continue to groan and moan, some even cursing, over the ‘crash’ of the popular ponzi scheme, otherwise known as MMM, investigations has revealed that one Chuddy Anayo Ugorji, popularly referred to as “The MMM-Nigeria number one Guider,” may have allegedly raked over N5billion within a year from the embattled system.
An analyst says Nigerians (figure yet to be compiled) lost in excess of N8.765billion to the scheme. Many people borrowed loans and some sold their properties to be able to participate in anticipation of funding the Christmas and New Year with the profit margin that was to come with their principal.
When the going was good…can they wear the Tee Shirts now?
An Abuja-based lawyer dipped his hands into some client funds in the chambers to invest N1million just 24 hours before the crash of the scheme. Several official institutional warnings were issued about the dangers inherent in the scheme which was known to have crashed in other nations of the world.
According to a social media pundit, Olushola Oke, “Chuddy is the head Admin of MMM, he is the one who brought MMM into Nigeria, he is the one who runs things at MMM just the way Mark Zuckerberg runs Facebook. People fail to realise that a Website cannot create itself, a human being has to see through its day to day activities and Chuddy is the one behind MMM and the same Chuddy is also a participant of this same MMM and this same Chuddy is also the number one Guider on this same MMM.
“Don’t you already see that there is already A Red flag? He even collected a whopping N6million payment on the 8th of December! As at the last check, 94,774 persons had bought into the scheme.
Crash story is a ruse: Promoters of MMM Nigeria, known as Guiders have urged Nigerians to remain calm as the one month freezing of all accounts of the scheme is a measure adopted to ensure sustainability and stability of the scheme. The system which entails the Providing Help (PH) and the Getting Help (GH) also assured that there is nothing to worry about since the ‘FROZEN ACCOUNT’ period is even the best time to provide help.
They also said that the accounts will continue to grow with a 50% more benefit on the amount staked or provided (PH). The guiders took to the MMM Nigeria website to douse tension and provide explanations on the one month account freezing.
Read full explanation below: “Good morning Mavrodians. What we are seeing now is the only practical measure to protect MMM Nigeria from danger. A lot of news of MMM crash this December has been on the social media and other news and gossip. This has really affected the system. There were heavy conspiracies by financial institutions to collapse the system.
What happened to the system last week would have been worse if GH is allowed today. Despite the holiday bonus, many participants were ready to GH today. The PH is not commensurate to the GH and this is the fear created by sponsored fake news.
“The truth remains that the mavros in the system are safe until they are unfrozen. Those who have PH in the system shouldn’t cancel them because since all green mavro are frozen no PH will be paired. “For those who understand the system, what has happened is a temporary measure to save the system and saving the system is saving our money. If we are allowed to GH, by next week there may be no enough PH to pair the GH then the worst will happen.
“This is a kind of caution taken to avert danger. So our mavros are safe. I encourage those who want to PH to still do their PH. The maturity is January and doesn’t change anything by then the system is back and stronger. Don’t lose hope, all of us have mavros in the system and let’s not use because of this little set back forget what MMM has done for us and will do more if the system is safeguarded.
“I personally feel the same way as you but it’s better to save the system than lose everything. Some people are complaining why the Guiders were not informed and my response is, if the Guiders were informed the system will crash in less than 10mins of the information. The way you received the news is the way we Guiders received the news but we have the training that such thing may happen if there is evidence of danger ahead. This show how firm and protective MMM is structured.”
“Let’s be optimistic and positive. This is our community, let’s protect it.” This message was sent out by MMM Nigeria Guiders who identified themselves as Guider DonVal Amaechi and Guider Philip Awazi.
Recall that members of the scheme woke up Tuesday morning with a shock message displaying on their screens indicating that all access to requesting of fund, (Getting help) had been frozen till 14th January. This caused panic and confusion among the over three million member participants of the scheme.
What I invested and escaped with: A private school teacher, who identified himself as Tayo Omisore, said though his N150,000 was trapped, he had no much regrets because he had made close to N1 million from the scheme.
He added: “I grew from starter to guider. I was actually awaiting payment of N150,000 but I wouldn’t have much regrets. I have made about N1 million in profit and have grown to the status of a guider. Besides, it was clearly notified to us that we should not invest our life savings on the scheme.”
He added that, “This scheme has helped several millions of Nigerians, especially now that the economy is in recession.
The scheme has relieved many Nigerians economically. It should be continued but they should operate backed by law.”
Source: Gongnews.net
Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Alpha Morgan to Host 19th Economic Review Webinar
In an economy shaped by constant shifts, the edge often belongs to those with the right information.
On Wednesday, February 25, 2026, Alpha Morgan Bank will host the 19th edition of its Economic Review Webinar, a high-level thought leadership session designed to equip businesses, investors, and individuals with timely financial and economic insight.
The session, which will hold live on Zoom at 10:00am WAT and will feature economist Bismarck Rewane, who will examine the key signals influencing Nigeria’s economic direction in 2026, including policy trends, market movements, and global developments shaping the local landscape.
With a consistent track record of delivering clarity in uncertain times, the Alpha Morgan Economic Review continues to provide practical context for decision-making in a dynamic environment.
Registration for the 19th Alpha Morgan Economic Review is free and can be completed via https://bit.ly/registeramerseries19
It is a bi-monthly platform that is open to the public and is held virtually.
Visit www.alphamorganbank to know more.
GTBank Launches Quick Airtime Loan at 2.95%
Guaranty Trust Bank Ltd (GTBank), the flagship banking franchise of GTCO Plc, Africa’s leading financial services group, today announced the launch of Quick Airtime Loan, an innovative digital solution that gives customers instant access to airtime when they run out of call credit and have limited funds in their bank accounts, ensuring customers can stay connected when it matters most.
In today’s always-on world, running out of airtime is more than a minor inconvenience. It can mean missed opportunities, disrupted plans, and lost connections, often at the very moment when funds are tight, and options are limited. Quick Airtime Loan was created to solve this problem, offering customers instant access to airtime on credit, directly from their bank. With Quick Airtime Loan, eligible GTBank customers can access from ₦100 and up to ₦10,000 by dialing *737*90#. Available across all major mobile networks in Nigeria, the service will soon expand to include data loans, further strengthening its proposition as a reliable on-demand platform.
For years, the airtime credit market has been dominated by Telcos, where charges for this service are at 15%. GTBank is now changing the narrative by offering a customer-centric, bank-led digital alternative priced at 2.95%. Built on transparency, convenience and affordability, Quick Airtime Loan has the potential to broaden access to airtime, deliver meaningful cost savings for millions of Nigerians, and redefine how financial services show up in everyday life, not just in banking moments.
Commenting on the product launch, Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd, said: “Quick Airtime Loan reflects GTBank’s continued focus on delivering digital solutions that are relevant, accessible, and built around real customer needs. The solution underscores the power of a connected financial ecosystem, combining GTBank’s digital reach and lending expertise with the capabilities of HabariPay to deliver a smooth, end-to-end experience. By leveraging unique strengths across the Group, we are able to accelerate innovation, strengthen execution, and deliver a more integrated customer experience across all our service channels.”
Importantly, Quick Airtime Loan highlights GTCO’s evolution as a fully diversified financial services group. Leveraging HabariPay’s Squad, the solution reinforces the Group’s ecosystem proposition by bringing together banking, payment technology, and digital channels to deliver intuitive, one-stop experiences for customers.
With this new product launch, Guaranty Trust Bank is extending its legacy of pioneering digital-first solutions that have redefined customer access to financial services across the industry, building on the proven strength of its widely adopted QuickCredit offering and the convenience of the Bank’s iconic *737# USSD Banking platform.
About Guaranty Trust Bank
Guaranty Trust Bank (GTBank) is the flagship banking franchise of GTCO Plc, a leading financial services group with a strong presence across Africa and the United Kingdom. The Bank is widely recognized for its leadership in digital banking, customer experience, and innovative financial solutions that deliver value to individuals, businesses, and communities.
About HabariPay
HabariPay is the payments fintech subsidiary of GTCO Plc, focused on enabling fast, secure, and accessible digital payments for individuals and businesses. By integrating payments and digital technology, HabariPay supports innovative services that make everyday financial interactions simpler and more seamless.
Enquiries:
GTCO
Group Corporate Communication
[email protected]
+234-1-2715227
www.gtcoplc.com
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