Bida Polytechnic Students Unable to Pay School Fees After Losing Money To MMM

A student of Federal Polytechnic Bida, Niger State, named Dupe Olurunfemi, was admitted into the school clinic when she heard school fees payment deadline.

She expressed that she invested over Seventy Thousand naira [#70 000] which was meant for her school fees and accommodation in the money doubling scheme, Mavrodi Mundial Moneybox (popularly called MMM) and has been unable to get the money back.

There has been incense and several pleas on social media by students who were affected by the Ponzi scheme after the Ponzi fails to keep its promise to start paying participants by January 14 as earlier announced.

Olorunfemi said: “I joined the platform on November 9, 2016 with N70 000 which I had been saving for months to pay my fees this session. I woke up on December 12, 2016 to get help (GH) only to find out that the GH had been frozen. I had hoped that on January 14, 2017, I will be paid but I am yet to get my money back.”

According to The Nation Newspaper, the deadline for school fees payment of the Federal Polytechnic Bida, Niger State ended on Wednesday, January 25. Majority of the students who lost their tuition fees to Mavrodi Mundial Moneybox (popularly called MMM) are yet to pay their fees.



Another student of the polytechnic, Samson Endurance, an ND II student of Public Administration was expelled from his off-campus hostel accommodation during the night by the landlord because he owed rent. He said he invested his rent in the Ponzi Scheme -MMM.