April 2 2018
In most Nigerian cultures, the news of the death a person; important or otherwise, usually sparks collective sorrow, sober reflection and then depending on the age and social class of the individual, lavish and colorful celebrations of their life and achievements.
But right now, Nigerians are conflicted about the news of the death of Sergei Mavrodi, a convicted Russian fraudster, who died of a heart attack, aged 63, in a Moscow hospital on Mar. 25. That’s because Mavrodi is best known as the founder of the infamous Mavrodi Mundial Moneybox (MMM) ponzi scheme. It took him less than a year to become a key influencer in Nigeria’s vast informal economy through MMM and his death has left many locals uncertain how to feel about his impact on Africa’s largest country by population. When we typed “Mavrodi” into Google this week, all the top news links on his death were from Nigerian newspapers.