The Economic and Financial Crimes Commission, EFCC, has confirmed ongoing surveillance on the MMM investment scheme, Daily Postreports.
EFCC spokesman, Wilson Uwujaren, gave this sign on the sidelines of a training programme in Port Harcourt.
Uwujaren, however, said the House of Representatives cannot direct the EFCC to investigate what he described as faceless wonder bank like MMM.
He said the anti-graft agency was also watching other online schemes that promise huge returns on investments.
The EFCC spokesman said preliminary investigations have shown that such online schemes thrive in countries that are facing economic recession.
“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 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,” Uwujaren said.
The House of Representatives had last week ordered the Economic and Financial Crimes Commission (EFCC) and the Central Bank of Nigeria (CBN) to immediately go after the promoters of the Mavrodi Mondial Moneybox, otherwise known as MMM, in Nigeria according to News24.
Members of the House described the scheme as a scam and warned Nigerians not to be carried away by the mouth-watering returns on investment that it promised.
