The House of Representatives on Wednesday asked the Economic and Financial Crimes Commission to arrest promoters of MMM scheme in Nigeria.
Chairman, House Committee on Telecommunications, Mr. Saheed Fijabi in a motion said the scheme was growing in popularity among Nigerians.
Fijabi said, “the scheme entered the Nigerian circle in 2016, capitalising on the high level of unemployment and poverty to deceive unwary Nigerians into falling prey to their antics”.
Fijabi said Nigerians may fall victim of their antics since the scheme was not regulated by the Central Bank of Nigeria.
The House agreed that the scheme was waiting for Nigerians to invest lots of money before suddenly discontinuing the programme.
The House directed the EFCC, security agencies and the CBN to take urgent steps to halt the scheme before many Nigerians would become victims of the scam.
The committees on Banking/Currency and Financial Crimes were also asked to investigate the scheme.