Osun Varsity Students Used N2bn School Fee For MMM
The Vice Chancellor of Osun State University, Prof. Labode Popoola, has said that the institution would collect the over N2 billion debt owed by its students whether they are able to recoup their money invested in the Mavrodi Mondial Moneybox (MMM) or not.
He said on Saturday that, “Some of them (students) used their school fees to invest in MMM. But whether MMM comes back or not, it is their headache. I have told them that we are not going to open the portal. If I see that a critical mass of the students pay, then we will decide to open the portal just for about 48 hours. But they must pay first.
“This is how we accumulated a debt profile of over N2 billion, we cannot continue this way. They just have to pay the money.”
But MMM ‘investors’ have not been able to get their money back as of the time of filing this report.
In a chat with an MMM representative, one Juliana ‘Consultant’, told one of our correspondents that payment had not begun on Saturday but that the scheme would “pay soon.”
“Some accounts are frozen and ‘GH’ have commenced,” she said.