The MMM financial scheme caught on like wildfire in Nigeria but it has frozen its transactions, leaving many investors unsure what will happen to their savings.
The BBC's Stephanie Hegarty explains how the Ponzi scheme found its way to the most populous nation in Africa and how it managed to survive.
Is MMM breaking the law?
According to the privacy laws of SEC, once a scheme like this gets a certain level of investment it must be registered.
MMM is not registered with the financial regulator so technically, it could be breaking the law.
But the SEC has not yet taken any active steps to prosecute it.
What happens next?
Members have to wait until January to see if MMM is as good as its word.
Until then its investors can only hope to get their money back.
But MMM is under no legal obligation to return it.
If the scheme does "unfreeze", that might encourage more people to invest.
And that means even more people are at risk of losing their savings.
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