The Economic and Financial Crimes Commission, EFCC has declared its stand regarding the MMM financial investment scheme which holds a high return on investment promise to its investors.
Recall that the Federal Government had through the Central Bank of Nigeria warned Nigerians to desist from participation in the ‘wonder bank’ financial scheme.
The EFCC while speaking through its spokesman, Wilson Uwujaren to Daily Post during an interview in Port Harcourt revealed that the anti-graft agency has launched investigation and surveillance into the financial scheme.
The EFCC’s spokesman while addressing the House of Representative’s order to probe the financial scheme said it was impossible for the house to direct the agency to investigate and arrest a faceless scheme.
Uwujaren however added that the EFCC had initiated surveillance into the scheme which promises huge returns on investment.
He said: “We can only arrest people based on the evidence that we have. The House made a resolution but the resolution is a public announcement.
“We have always been advising people not to patronize wonder banks because experience over time has shown that their activities are not sustainable.
“If you get involved in it, you will eventually get hurt. What we are currently doing is to sensitize people. We know people want to make quick money as a result of recession through this MMM.
“The unfortunate thing about this MMM is that it is not a Nigerian firm but we are looking at and we will still tell the media whatever we find out.”
