MMM’s website describes the scheme as a circular system where members ‘give help by transferring the money to each other directly’ (Screengrab)

Some youths in Lokoja, Kogi on Saturday were at several beer parlours to celebrate the return of the controversial Mavrodi Mondial Movement (MMM)

The Ponzi scheme, banned in Russia where it originated, froze the accounts of three million Nigerian members in December causing panic and anxiety.

The scheme returned on Jan. 13, a day before its initial comeback date of Jan. 14.

Most of the revellers were students of the state-owned polytechnic in Lokoja.

They expressed surprise about the comeback of the pyramid money investment scheme that promises players 30 per cent return, a day ahead of schedule.

Segun Ademola, a student, said he had invested over N300, 000 in his MMM account.

He said that he was glad to have the operation bounce back, adding that he had a lot of high hopes that he would reap his investment.

“I am the happiest person on earth today, God bless Mavrodi,” he said.

Fola Owobo, another student, said that she used her school fees to provide help to some other person she did not know at all.

She said that she was confused when the scheme was shut down on Dec. 13, 2016, and expressed relief now that the MMM was back in operation.‎

Michael Olubola, another student said he had learnt a lesson.

He said as soon as he collected his money, he would ‎never provide help again through the scheme.

He said that he almost had hypertension in the last four weeks and urged his colleagues to shun free money and embrace hard work.

Olubola said that the free money promised by MMM almost cost him his life.

Wunmi Atte, also a student, said ‎she was convinced that the MMM was a fraud.

“Sooner or later it would fold up”, she said and wondered where the scheme got the money it promised members. (NAN)