The Central Bank of Nigeria (CBN) through its acting Director of Corporate Communications, Mr. Isaac Okoroafor has warned Nigerians to be careful of any deposit money  institution that is not insured by the Nigeria Deposit Insurance Corporation (NDIC) especially the trending MMM Nigeria community.

Okoroafor said such deposit money institutions were dubious present Ponzi schemes and that any institution not licensed by the CBN to accept deposits should not be given money to keep under any guise.