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Reports that pointed out that Pastor Ernest Mbanefo is the brain behind the ponzi scheme making waves in Nigeria went round last week.

However, the man in question has denied ownership of the scheme.

It will be recalled that several online platforms in Nigeria had on Friday reported that the South Africa-based pastor was the owner of MMM Nigeria, a ponzi scheme  that promised its members  30 per cent return on investments.
But speaking to Concise News, Mbanefo slammed the media for not verifying with him despite the fact that his contact details were available on the internet.
He explained that he used his website,,  to tutor interested investors on the workings of the scheme and thereafter direct them to register on the official website.
He said, “I do not own MMM Nigeria. The original website of MMM Nigeria is
“All I’ve done is to use my knowledge of web designing to launch”
On his affiliation with Sergei Mavrodi, the promoter of MMM Global,  Mbanefo said, ”I have never met Sergei Mavrodi before. Mavrodi does not not even know about my activities in the MMM programme. “
4:07 PM

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