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The Managing Director of the Nigeria Deposit Insurance Corporation, NDIC, Umaru Ibrahim, has said there is nothing else the agency could do except to offer prayers for the victims of the recently crashed Mavrodi Mundial Movement, MMM. The MMM had last week suspended its window in Nigeria due to what it called ‘heavy workload on the system.

Ibrahim who spoke to Journalists over the weekend at the Workshop for Business Editors and Finance Correspondents in Kaduna said the Corporation would not relent in calling on Nigerians, sensitising and enlightening them on the dangers of patronising wonder banks.He said beside the MMM case, there were some new cases of the emergence of the wonder banks in recent times in places like Enugu, Kaduna and Plateau states. “For us, we already told Nigerians that MMM is not recognised, it is illegal, but some insisted that it is legal, all hands must be on deck to educate the public, today is MMM, tomorrow it could be YYY”, he said.
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