2. Top government officials are involved
There are rumors that policemen, top government and EFCC officials have shares in the scheme which makes them less concerned about curbing its activities in the country.
3. There are no laws in place against it for now
Legal analysts also opine that there is no clear law against MMM especially as no one has complained of losing money in the scheme. The Cyber Crime Act of 2015 also doesn’t specifically classify as illegal any website use to crowd source money from Nigerians.
The Security and Exchange Commission may also not have jurisdiction here as contributors to the scheme are not investing. In fact, they claim on the website that it is “not an investment program”. Without an enabling law or at least one that is close to it, MMM appears to be on a legal sound footing and can only be thwarted legally if someone complains of being swindled.
4. Buhari may lose the support of Nigerians if he shuts down MMM
5. It has the support of a lot of people
6. At this period of economic recession, it is a source of income for many Nigerians
More and more Nigerians are increasingly looking for ways to improve their income providing MMM with a massive pool of potential contributors that could run into tens of millions of Nigerians.
7. MMM has no face
There is no registered office or bank account attributed to MMM, making it hard to be targeted by the federal government.
