January 2020 marks four years since the gruesome announcement of the crash of MMM, a Ponzi Scheme introduced to Nigeria by Sergey Mavrodi.
The announcement left a lot of Nigerians in a state that some may not have recovered from. Some collapsed, some were left in hardship and some even committed suicide.
About three Million Nigerians lost N18 billion to MMM, according to the Nigerian Deposit Insurance Corporation (NDIC) report.
Some in millions, some in hundreds of thousands, while some in a few thousands.
A Twitter user has taken to his account to recall his personal experience with MMM, and as many as could relate, more experiences were shared.
See tweets below;
Today will make it 4 years MMM made me faint inside one Nkwobi Joint like that 🤕
— MIKE (@mrmikerezzy) January 11, 2020
Late dad gave me R550 as a birthday 🎁 in Dec'95 & immediately introduced me to Sun Multi Serve.
Was yet to be paid out yet called it his SMS & urged ME to push him up the ladder just like? 🤔
— Mots-wana_tswi… (@Oag_Whagha) January 11, 2020
I Lost 300K , But When I Think Of My Friend's Mom Who Lost 3M, I Just Smile
— NOTHING WAS HANDED 🖐 (@Henrymorgan_Nwh) January 11, 2020
My neighbour's wife used their feeding allowance do MMM and two days later, it collapsed. They almost ate grass that month. The husband was too shocked because the woman was a 'prayer warrior' in their church.
— Olaide A. Omideyi (@OmideyiOlaide) January 11, 2020
Those bastard nearly finished my Life. But by the grace of God we move on
— victor (@vikem4me) January 12, 2020
pls don't remind me. I used all my savings I came to Lagos with to get an apartment and start a new life went down with it. It wasn't easy as I nearly ran mad. Friends started showing me shege but to God be the glory we don't look like what we've been through.
— MeldiR (@meldireal) January 12, 2020
Meanwhile, protecting and ensuring that workers in Nigeria earn enough to function with a bearest average living cost is far from it’s reality.
In an analysis made by Picodi.com, a foreign company which deals in coupons, Nigeria ranked the country with the highest increase in its minimum wage from N18, 000 to N30,000 in 2019.
However, in its study which included 54 countries that operate national minimum wage, despite the increase in its national minimum wage in 2019, Nigeria still ranks the country with the second lowest minimum wage of all 54 countries considered.