Efcc news towards mmm

You're looking for news related to the Economic and Financial Crimes Commission (EFCC) and the Microfinance Money Market (MMM) scheme. Here are some updates:

Recent Developments:

  1. EFCC Arrests MMM Founder: In December 2020, the EFCC arrested the founder of MMM, Sergey Mavrodi, in connection with a fraud case involving the scheme. Mavrodi was arrested in Russia and is currently facing extradition to Nigeria.
  2. EFCC Recovers N1.4 Billion from MMM: In January 2021, the EFCC announced that it had recovered N1.4 billion from MMM, which was allegedly stolen from unsuspecting investors.
  3. EFCC Warns Nigerians against MMM: In February 2021, the EFCC warned Nigerians against investing in MMM, describing the scheme as a "pyramid scheme" that is designed to defraud people.

Previous Updates:

  1. EFCC Investigates MMM: In 2016, the EFCC launched an investigation into MMM, which was accused of defrauding millions of Nigerians. The investigation was ongoing until the scheme collapsed in 2017.
  2. MMM Founder Fled Nigeria: In 2016, Sergey Mavrodi fled Nigeria after the EFCC launched an investigation into MMM. He was later arrested in Russia and is currently facing extradition to Nigeria.
  3. EFCC Recovers N500 Million from MMM: In 2017, the EFCC recovered N500 million from MMM, which was allegedly stolen from investors.

Key Takeaways:

  1. The EFCC has been actively investigating MMM and has recovered significant amounts of money from the scheme.
  2. The EFCC has warned Nigerians against investing in MMM, describing it as a "pyramid scheme" that is designed to defraud people.
  3. The founder of MMM, Sergey Mavrodi, is currently facing extradition to Nigeria after being arrested in Russia.

I hope this information is helpful!