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APC's Misrule Responsible For N18 billion Nigerians Lose In MMM - PDP

APC National Chairman, John Oyegun and President Mohammadu Buhari

The Peoples Democratic Party (PDP) has accused the ruling All Progressives Congress (APC) of being responsible for the over N18 billion that estimated 3 million Nigerians lose in the ponzi scheme, Mavrodi Mundial Movement (MMM) due to their misrule which subjected Nigerians to untold hardship.

Mavrodi Mundial Movement (MMM), a ponzi scheme that allow participants to donate money to members and receive back with 30% interest rate after one month first collapse in December 2016 but made a comeback in January 2017 and collapsed again in April 2017 making their members in Nigeria to lose estimated N18 billion to the scheme.

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The PDP in a statement issued Friday December 29, 2017 and signed by its National Publicity Secretary, Kola Ologbondiyan said Nigerians were forced to turn to the scheme for survival after the APC federal government plunged the nation into economic recession and visited the citizens with the worst forms of untold hardship.

The statement read: "What do we expect from a government that so devastated the economy in 2017 that Nigerians were forced to turn to ponzi schemes like the Mavrodi Mundial Movement (MMM) only for an estimated three million of them to lose N18 billion in the process.

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"The APC misrule literally turned 2017 into a harvest of woes, hunger, disease, violence, and deaths while the nation is now being pummelled by ethnic and religious agitations and attendant violence in all parts of the country.

"This is the same APC that promised to deliver naira exchange at N1 to USD1 but ended up wrecking the currency from N160-N170 to a scandalous N350-N400; the same party and its government promised to reduce the price of fuel only for it to rise from where the PDP left it at N86.50 to N300-N400 per litre.

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"Painfully, instead of channeling the nation's resources for the good of the citizens, the "zero corruption" federal government is busy providing cover for APC interests who are diverting public fund through padded budget, multi-billion dollar secret oil subsidy regimes, illegal lifting of crude oil using unregistered APC fronts, pillaging of Nigeria's foreign reserves, diverting of funds meant for fight against insurgency and rehabilitation of Internally Displaced Persons (IDPs) in the Northeast; and attempt to steal $1 billion from the Excess Crude Account (ECA).

"Measured against all key performance indicators, the APC controlled federal government has fallen below the expectations of Nigerians.

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The party therefore warned the APC to stop taking Nigerians for granted as the nation eagerly await the farewell address come 2019.      

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