How is MMM a Challenge to Banks and Financial Institutions?

 How is MMM a Challenge to Banks and Financial Institutions?

This is a cut out from an article with same title by Oluwatobi Adekunle.

Banks and financial institutions see MMM as a threat because people now see more opportunities in MMM than keeping their money in banks where at the end of the month you get little or no interest rather you will be charged for having your money saved in the bank. Erstwhile, I have come to the realization that the account balance banks send to us is only a figure, just similar to MMM where you provide help to someone and another gets help from you, I was at a bank in Ekiti some years back and we were told there was no money for those who wanted to withdraw but if we can wait if there are people who want to deposit they can pay us with their money. Banks need our money to continue in business so also MMM needs a community of people to continue to provide help for themselves for the scheme to thrive.

MMM is still very new in Nigeria and is at a LOW RISK level. Several people have made a fortune from investing in MMM and I feel that you can do same if you join within the next nine months because from analysis, MMM is an opportunity that has SHORT TERM VIABILITY. This means that if you join MMM after the first 3 years in Nigeria, you would most likely have a HIGH RISK opportunity on your hands.

I am not an MMM advocate, I only want to implore those who are trying to sabotage the scheme to desist. Let it crash first before you make issues about it and let the people by themselves say they are tired.