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UNIOSUN Students Invested Their School Fees In MMM, They Must Pay N2bn Debt - VC Blows Hot

Posted by Samuel on Sun 15th Jan, 2017 - tori.ng

Many students of the Osun State University have found themselves stuck in a serious dilemma after investing their fees in MMM.

Prof. Labode Popoola

Prof. Labode Popoola, The Vice Chancellor of Osun State University, has said on Saturday that the institution would collect the over N2bn debt students owe it whether they are able to recoup their money invested in the Mavrodi Mondial Moneybox or not.

According to The Punch, Popoola said, “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 N2bn, 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.