Business

MMM crash: Over 3million Nigerians lose over N18.765billion

Published

9 years ago

December 15, 2016

Sahara Weekly

*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 8^th 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 14^th 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

Business

ADVAN Wins Global Honour at WFA Awards for “Project Freedom” Initiative

Published

14 hours ago

April 25, 2026

Sahara Weekly

ADVAN Earns Global Recognition As WFA President’s Award Winner For “Project Freedom”

The Advertisers Association of Nigeria (ADVAN) has been recognised on the global stage as a recipient of the prestigious WFA President’s Award, presented by the World Federation of Advertisers during its Global Marketer Week in Stockholm. The recognition places ADVAN among a select group of leading industry associations worldwide acknowledged for driving meaningful impact in marketing and society.

The WFA President’s Awards, established in 2010, celebrate national industry associations whose initiatives advance the marketer’s agenda and contribute to positive change. This year’s honours were awarded following a rigorous selection process involving 38 submissions from associations across the WFA’s global network, with winners chosen for their measurable impact and potential for replication across markets.

ADVAN’s recognition comes through its advocacy initiative, Project Freedom, a bold and strategic effort focused on addressing the challenges of stifling, non–data-driven regulations affecting businesses in Nigeria and across Africa. The initiative underscores the importance of evidence-based policymaking while championing the constitutional right to freedom of commerce.

Through Project Freedom, ADVAN has taken a proactive leadership role in engaging key stakeholders and shaping conversations around fair, balanced, and transparent regulation. The initiative reflects a shift toward constructive dialogue and collaboration, ensuring that regulatory frameworks support innovation, protect consumer interests, and enable sustainable business growth.

By earning this global recognition, ADVAN reinforces the growing influence of African marketing institutions in shaping international discourse. Its work highlights how local advocacy, when rooted in data and guided by clear principles, can deliver impact not just within national borders but across the global marketing ecosystem.

The award also affirms ADVAN’s commitment to strengthening self-regulation within the industry, fostering accountability, and promoting standards that align with global best practices while remaining relevant to local realities.

As the marketing landscape continues to evolve, ADVAN’s recognition by the World Federation of Advertisers signals a strong endorsement of its leadership and vision. It positions the association as a key voice in advancing responsible marketing, advocating for enabling policies, and ensuring that businesses can operate in an environment that supports both innovation and economic freedom.

Business

PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status

Published

1 day ago

April 24, 2026

Sahara Weekly

***PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status**

To prevent any misunderstanding regarding our affiliation with the United Nations, we hereby provide a formal clarification on the status and identity of the United International Peace and Governance Council (UNIPGC), formerly known as IPGC.

UNIPGC is an independent Civil Society Organization and Non-Governmental Organization with continental chapters registered in the United States, Germany, Canada, and several countries across Africa. The organization is committed to promoting the values and principles of the United Nations, particularly in advancing Sustainable Development Goal 16 (Peace, Justice, and Strong Institutions), as well as advocating for good governance globally.

In furtherance of its mandate, UNIPGC has established partnerships with reputable diplomatic civil society organizations, including the United Nations Association of Nigeria and the United Nations Association of Ghana. These collaborations are aimed at strengthening its engagement with initiatives aligned with United Nations ideals.

Additionally, UNIPGC has entered into diplomatic relations with the International Organization for Economic Development (IOED), an Intergovernmental Organization (IGO), to enhance its capacity for international cooperation and diplomatic engagement.

We wish to clearly state that UNIPGC is **not** an entity, agency, or organ of the United Nations.

Members of the public and media practitioners are respectfully advised to refer to the organization by its full and correct name: **United International Peace and Governance Council (UNIPGC)**, and not as the United Nations.

Thank you.

Business

Laffmattazz Announces Strategic Partnership with First Bank of Nigeria Limited for 2026 International Tour

Published

2 days ago

April 24, 2026

Sahara Weekly

Laffmattazz Announces Strategic Partnership with First Bank of Nigeria Limited for 2026 International Tour

Laffmattazz, one of Nigeria’s foremost comedy and live entertainment brands, is pleased to announce its official partnership with First Bank of Nigeria Limited for the highly anticipated Laffmattazz 2026 International Tour, themed “Next Chapter: A New Season of Laughter.”

Now in its 15th year, Laffmattazz—the brainchild of renowned Nigerian comedian Gbenga Adeyinka (Gbenga Adeyinka 1st)—has evolved into a cultural phenomenon, celebrated for its seamless fusion of comedy, music, and live stage performances.

The 2026 tour, which kicked off on Easter Sunday, April 5th, 2026 at the Jogor Centre, Ibadan, marks a significant milestone in the brand’s journey. Building on over a decade of success across Nigeria, this year’s edition signals a bold expansion into the international market, with a multi-city run in Canada, alongside major stops in Akure, Abeokuta, and Lagos.

This strategic partnership with First Bank of Nigeria Limited underscores a shared commitment to excellence and innovation. It is also aligned with FirstBank’s First@Arts initiative—a significant and ongoing program dedicated to supporting the creative arts, entertainment, and cultural sectors. Through this initiative, FirstBank provides financing, advisory services, and actively fosters a sustainable value chain for artists and creative entrepreneurs, while supporting key industry platforms such as the Nigerian Entertainment Conference.

Speaking on the collaboration, the Laffmattazz team stated:

“We are delighted to welcome First Bank of Nigeria Limited as a strategic partner for the Laffmattazz 2026 International Tour. As we mark 15 remarkable years of Laffmattazz, this partnership reinforces our vision to take premium Nigerian entertainment beyond borders, while delivering even bigger, better, and more memorable experiences for our audiences.”

As a key partner, First Bank will enrich the tour through innovative customer engagement initiatives, experiential activations, and exclusive fan experiences across all tour locations.

With its distinctive blend of humor, culture, and live entertainment, the Laffmattazz 2026 Tour is poised to connect audiences across cities and continents, bringing laughter to thousands of fans worldwide.

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About Laffmattazz

Laffmattazz is a premier Nigerian comedy and entertainment brand, now in its 15th year, renowned for its vibrant live shows and nationwide tours. Founded by Gbenga Adeyinka 1st, the brand continues to deliver high-quality experiences that celebrate creativity, culture, and laughter.

About First Bank of Nigeria Limited

First Bank of Nigeria Limited is Nigeria’s oldest financial institution, widely respected for its legacy of trust, innovation, and customer-centric financial solutions that support economic growth and development. Through its First@Arts initiative, the Bank continues to play a pivotal role in empowering the creative industry and driving sustainable growth across the sector.