Category Archives: News

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This will relate to articles on this site and in which our readers will find valuable .

MMM Nigeria Founder, Sergey Mavrodi dies at 62 in Moscow, Russia

MMM Nigeria Founder, Sergey Mavrodi dies at 62 of heart Attack. The news has spread the whole social media and internet .

MMM founder Sergey Mavrodi dies
Sergey Mavrodi

According to the news posted on PO of MMM participant website’s dashboard; the tragic event took place on March 26,  leader and ideological mastermind — Sergey Mavrodi — left his life. In the street, he felt unwell and complained of weakness and heartache. A passer-by called an ambulance, Sergey Mavrodi was hospitalized, alas, he couldn’t be saved. Sergey Mavrodi died at the age of 62.

In this regard, the МММ System shifts to a “pause” mode. It is impossible to provide and get help; Mavros don’t grow. In the near future, Administration will take a decision concerning MMM’s future and report on it officially.

Sergey Mavrodi devoted his life to serving other people. He abstained from conveniences and material benefits, communication with his family and friends in order that no one could influence him and the System. Sergey Mavrodi worked until his dying day: without holidays and vacations. Mr Mavrody always felt his responsibility for the participants and the System. He never pursued any self-interest.

Mr Mavrodi, long before the cryptocurrencies emergence, predicted that the modern financial system would become a thing of the past. While today we can see that many of Mr Mavrodi’s predictions have already come true: alternatives to fiat money have appeared and they become increasingly widely disseminated. Let us remember the principles that Mr Mavrodi defended: mutual aid and justice; and strive to implement those principles in our life. This will be our best contribution to Mavrodi’s mission.

Sergey Mavrodi is a great man who managed to unite a huge number of people worldwide in the struggle for a single purpose. MMM was his life’s work; he dreamed of changing the world. Sergey Mavrodi, you will always be in our hearts!

МММ Administration

Should Nigerians whose money are stuck in MMM rejoice or what? Well, I don’t know. What will be the fate of MMM again? I don’t know. It is said; MMM system is put on pause mode right now. Let’s watch as the whole drama unfold itself.

For more information visit MMM website

CBN Policy on PTA, BTA, school fees & medicals – all charges stopped

CBN has issued a new Policy on PTA, BTA, School fees and Medicals.

The Central Bank of Nigeria (CBN) has stop all charges on the sale of foreign exchange for invisible transactions such as Personal Travel Allowance (PTA), Business Travel Allowance (BTA), school tuitions and medical bills payment abroad

CBN Director signed the circular that was issued to all authorised dealers, Trade and Exchange Department. W.D Gotring stated that charging of commissions on retail foreign exchange transactions has been abolished. He said that compliance to the directive is with immediate effect.

How to pay school fees abroad from Nigeria

According to the Nation, the inter-bank Foreign Exchange Market has received $210 million from the CBN to meet customers’ requests in various segments of the market.

The CBN offered $100 million to authorised dealers in the wholesale segment of the market, while the Small and Medium Enterprises (SMEs) segment got the sum of $55 million.

The figures also indicated that customers needing foreign exchange for invisibles such as tuition fees, medical payments and BTA, among others, were also allocated the sum of $55 million.

The bank’s Acting Director, Corporate Communications Department, Isaac Okorafor, assured Nigerians that the bank will continue to intervene in the interbank foreign exchange market, in line with its pledge to sustain liquidity in the market and maintain stability.

He said the body will continue to support the CBN to sustain ongoing stability in the forex market even as it is planning to float a new website that will present objective position of the market.