While speaking at a special day of the NDIC corporation at the
ongoing 2007 Enugu International Trade Fair on Thursday, the MD of Nigeria Deposit
Insurance Corporation, Umaru Ibrahim, has again warned Nigerians against
investing their money in online and block-chain currencies schemes.
The
Managing Director of NDIC who was represented by Nicolas Ibrahim, the NDIC
Controller at Enugu Zonal Office, said that the warning became necessary to
save investments and money of Nigerians.
“I wish to draw attention to emergence of the various Ponzi
schemes, popularly called Mavrodi Mundial Movement (MMM) and other forms of
digital and block-chain currencies.
These ponzi schemes also came in form of virtual currencies
such as Bitcoin, Ripples, Monero, Litecoin, Dogecoin and Onecoin for medium of
exchange and web based transactions which are neither authorised by the CBN nor
insured by the NDIC,” he said.
Umaru
also warned members of the public against activities of some co-operative
societies that had gone beyond their primary mandate of accepting contributions
from their members.
I wish to emphasise that cooperative societies are established
to mobilise savings from their members only.
I therefore call on non-members not to patronise them as they
are neither licensed as deposit taking financial institutions nor insured by
the NDIC," he said.
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