BREAKING: EFCC says it can't do anything about MMM freeze

Hope that succour would come from the Nigerian government over the freezing of the accounts of all participants in the Ponzi scheme from Russia MMM have been dashed by the The Economic and Financial Crimes Commission (EFCC).

The EFCC reacted to the freeze on Tuesday, December 13 just hours after reports began to emerge that the freeze could mean the beginning of the end of the scheme in Nigeria.

The anti-corruption agency said on its official Twitter handle that there was nothing it could do if indeed the scheme had failed entirely.

It noted that Nigerians had been warned about the scheme in advance and so there was nothing that it could do. Besides, it noted, there were more important corruption matters for it to face than MMM freeze.

To all those that were involved in the scheme and may now lose their funds, including the commission's own staff, the EFCC tweeted:

Recall that the MMM founder Sergey Mavrodi had reportedly written an open letter to the Nigerian government claiming that the scheme would never fail.

Hours after the letter was received by every participant in the MMM scheme, accounts were frozen.

Source: Legit.ng