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Bida Polytechnic students unable to pay school fees after losing money to MMM

File:MMM logo.png - Wikipedia, the free encyclopedia
– Several students of Bida
Polytechnic who lost their money to the Ponzi scheme, MMM, have failed
to meet deadline for the payment of their school fees
– One of the students who lost her money to MMM fainted after she heard the school fees payment deadline
– Another student who used his accommodation fees has been evicted by his landlord
Olurunfemi, a student of Federal Polytechnic Bida, Niger state, was
hospitalised in the school clinic when she heard school fees payment

She said she invested N70,000 meant for school fees and accommodation in
the money doubling scheme, Mavrodi Mundial Moneybox (MMM) and has been
unable to recover the money.

There has been outrage 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.

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
According to The Nation,
the deadline for fees payment of the polytechnic ended on Wednesday,
January 25. Most of the students who lost their fees to MMM are yet to
pay their fees.
Another student,
Samson Endurance, an ND II student of Public Administration of the same
polytechnic was evicted from his off-campus hostel accommodation at
night by the landlord because he owed rent. He said he invested his in
rent for MMM.
Recall that authorities of Osun state university have earlier reported about two billion naira owed by students of the university who put money in the MMM ponzi scheme instead.
The information was made public by Professor Labode Popoola, the school Vice Chancellor (VC), on the university campus.
Popoola also expressed his disappointment with the students who abused
the opportunity of tuition fees part payment given by the university for
convenience sake of parents and guardians.


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