Eight out of the 37 students in Federal Polytechnic Bida, Niger State, who lost their school fees to the MMM Ponzi scheme have deferred their first semester till next session having lost their school fees to the scheme.
It was learnt that the school had fixed the deadline for the payment of school fees for January 25, but had to extend the date following appeal from the school’s student union body on behalf of the affected students.
The deadline was shifted to three weeks before the commencement of the institution’s examinations scheduled for April 3. The eight students however, decided to defer the semester since they could not meet up with the deadline for the payment.
According to one of the eight students, Gbenga Daniel, a National Diploma (ND) 2 student of the Marketing Department, he invested his school fees in the Ponzi Scheme in November last year hoping that by January 2017, the money as well as its interest would be ready for him to “get help.” Daniel was one of the many victims whose accounts were frozen by Mavrodi Mondi Moneybox (MMM) in December last year.
“Up till now, l cannot get back the money I invested into MMM. I was stopped from writing my tests because I have not paid my departmental fees. I decided to defer the semester because I will not be allowed to write the first semester exams since I have not paid my school fees,” he lamented.
Another student who didn’t want his name in print said, he is afraid of going home to meet his parents because he invested his school fees into the Ponzi Scheme despite several warnings by his parents. It was also gathered that some of the affected students resorted to borrowing money from friends while others sold their appliances – TV, CD/ DVD and Home Theater sets – to raise their school fees.