Nearly a week after its return and the seeming less enthusiasm as against what obtained few months ago, promoters of the MMM ponzi scheme may be considering a new strategy.
According to Daily Post, MMM is considering jerking up the interest rate to 40 percent from the current 30 percent rate.
A top guider, who spoke on condition of anonymity, said that MMM was indeed worried that, “the excitement and inflow has rapidly dropped.”
He then disclosed that one of the ideas being debated by MMM top hierarchy was increase in interest, which currently obtains in one of the African countries the scheme recently launched.
Asked how MMM is managing the high number of request for withdrawals, the guider based in South east, said, “the truth is we were prepared. You know that many wanted to take their money during the Christmas and New year celebrations but could not.
“Some wanted to withdraw to pay rent, school fees and other bills. So now that the accounts have been unfreeze, they are demanding for their money.
“At this moment, we are having more outflow than inflow. In other words, those ready to provide help have dropped by half.
“The economy too is worsening and we understand that it's only when people have, they will give.”
Responding to why many participants who have millions of naira are yet to be paid, he explained thus: “We are processing, but can’t pay them now.”
“We need money in the system and that is why the increase in interest is on the cards so some can decide to leave their funds."
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