Disclosing this at the NDIC special day at the ongoing 30th Lagos International Trade Fair, tagged “Positioning the Nigerian Economy for Diversification and Sustainable Growth”, the Chief Executive Officer, Alhaji Umaru Ibrahim, said it is worrisome to note that despite repeated advice, many members of the public are still falling victims to the mouth-watering interest being offered by the illegal funds managers.
Chief Executive Officer, Alhaji Umaru Ibrahim The president of LCCI, Chief Nike Akande, said the NDIC was established with a primary function of insuring all deposit liabilities of licensed banks and such other deposit taking financial institutions operating in Nigeria within the meaning of sections 16 and 20 of enabling Act so as to engender confidence in the Nigerian banking system.
Business Agenda reports that MMM is one of the leading wonder banks in Nigeria with the Ponzi scheme offering 30% increase over money ‘invested’ after 30 days.
