Is MMM godly? What Christian leaders are saying!
Our platform is inundated daily by Christians seeking genuine answers to the investment rave of the moment, Mavrodi Mondial Moneybox (MMM) or Money Making Machine as some choose to call it.
The scheme which claims to be, “A Mutual benefit fund, a community of people, who help one another for free, and absolutely consciously transfer money directly to each other, from one bank account to another,”
The scheme which returns on investment, 30 percent a month, operating in South Africa, Zimbabwe, Nigeria and some east African states is masterminded by a former Russian politician Sergey Mavrodi, who was reported to have been on the run when the original MMM collapsed in the late 1990s, losing investors an estimated $100m.
The scheme which claims to be, “A Mutual benefit fund, a community of people, who help one another for free, and absolutely consciously transfer money directly to each other, from one bank account to another,” has however become a source of income and hope to many Nigerians. Even though the source of its income is still unknown, it keeps attracting all categories of people including Christians daily. With even pastors as top promoters these days, it has become a big controversy whether it is actually a legal business as it claims or not.
We went to town seeking opinion and spiritual guidance from Christian leaders and opinion shapers. We believe our findings will help someone decide for or against.
“MMM is still controversial to some Christians and pastors, but I don’t talk about it publicly either for or against. And another side of MMM is that it is also a risk.
A Christian leader who pleaded anonymity said, “To me and I’ve also asked my senior pastor, MMM is not a sin. I have checked the Bible, there is nothing in scripture against the scheme”
“MMM is still controversial to some Christians and pastors, but I don’t talk about it publicly either for or against. And another side of MMM is that it is also a risk. It may not be a sin but it is a risk. Those who want to participate should know that that they are taking a risk. It may crash, it may not crash now depending on many factors… Just like any investment venture. Everyone should know whether they are ready to take a risk or not.” He said
Like him, another anonymous Christian leader who doubles as a banker shared a similar view.
He said, “From my perspective MMM (Mavrode Mundial Movement) is an investment developed to make money with your available money but at the investor’s risk. Making quick money in a good way is not bad. Although in this kind of investment, there is a possibility that it can crash anytime.”
“Like we all witnessed when Shares suddenly crashed because many people diverted their attention to it and the weight cannot be sustained by our weak economy. For example, in insurance, not every claim can be granted because many yardsticks will be considered at the end of the day the person may suffer double losses (property insured and dividend unpaid)”
“While we put our money in the banks and we thought it’s sleeping there, little do we know that our money is sweating rigorously to yield more for someone else. So, why won’t I make my money sweat to make more for me in a good way if I can, but make sure if you are going for MMM, you can take the risk.
Now the gray area is for believers…should I Christian profit from a PONZI SCHEME? I know that is the sincere question in the heart of many…
But contrary to their takes was Pastor Udegbe Joel’s. He does not support believers to join. Udegbe said, “Well, I don’t see why a believer or anyone should be involved in it. The purpose behind it and the foundation on which it was built is deceptive. At the end of the day, someone or a group of people will be the victim…it’s just a matter of time…so knowing this, why would anyone go into it?
Kenny K’ore Christian artist said, “Initially people would make money. After a while, it would crash and leave people in a mess. A lot of people are going to get hurt. Believers should work, add value, and receive remuneration for work done. Believers should trust GOD for their finances not doing MMM”
An ex-banker Pastor who is subscriber of the scheme has this to say; “Based on my banking/financial training, MMM is a PONZI SCHEME…the only difference is that MMM is a Ponzi scheme with very strong fundamentals, because at the moment, over 85% of people who make money from it, put money back in it, that makes a strongly self-preserving and non-reliant on new registrations. However, like any other PONZI SCHEME, it will eventually crash. So, if you want to take advantage of it, you do it clearly at your own risk.
Now the gray area is for believers…should I Christian profit from a PONZI SCHEME? I know that is the sincere question in the heart of many… Well, I have asked myself that a lot of times. And the best I can say is this, FOREX MARKETS, STOCKS, BONDS, ANNUITIES, EVEN THE WHOLE BANKING SYSTEM…its all a well organized Ponzi scheme. There is a global pool of money moving at the speed of broadband wifi directed only by greed/speculation. The global STOCKS/BONDS/OPTIONS/DERIVATIVES market…is driven by fear and greed…does that mean a Christian should not genuinely invest and make some money? So, please, as a believer:
Another Christian leader said, “Wrong person. Or wrong topic. I don’t have much idea how MMM operates. Thread softly. Ascertain the genuineness of any business you are going into. Don’t get involved in anything shady.”
Many Christian leaders seemed not to be okay with the scheme even as Tunde Praise said, “I don’t believe in miracle money. Wealth is accumulated by rendering services or selling a product. MMM is not work. I don’t subscribe to it. It’s a Ponzi scheme and it will soon fold up. It can’t last!”
Another pastor said, “I don’t believe in get-rich-quick schemes. Anything can be seen or interpreted as get rich but for MMM particularly, it doesn’t make the right sense of doing business. Money is a tool of exchange of value. I do not appreciate or understand the value being exchanged in the scheme other than I want my money doubled or tripled as the case may be. Or how do you explain sending money to someone you have no clue about and expecting money from someone you don’t know and haven’t done any business transactions with? It really beats my imagination! Growth is a process and not an event. For this scheme, it seems it’s more of an event than a process. Thus, it is unreliable”
Similarly, a provincial pastor in the Redeemed Christian Church of God, who doesn’t want his name published, spoke recently on MMM when a member confronted him with the question during a conference.
He said, “CBN has warned against it. It is more like gambling and CBN has officially declared it unlawful and promoters are likely to be prosecuted. It is a wonder bank and would still burst.
He urged Christians, “Don’t cut corners, diligence, focus, consistency, in whatever good work you do attract God’s blessings. Sacrificial giving and imparting people’s life positively are what bring God’s multiplication of blessings, not MMM.”