Riodiao:


poverty reasoning

Go and find out how some corrupt officials loots turned into pieces of worthless paper overnight in 1984. Let's give this man a chance for once, at least for our unborn generation.

30th April 1984 - ITN News
BUHARI SCRAPS OLD NAIRA NOTES AND CIRCULATES NEW CURRENCY IN ORDER TO RENDER STOLEN / SMUGGLED CASH WORTHLESS.

Nigerians waited in long queues outside banks in Lagos on April 25 to change old notes for new. Nigeria's decision to scrap its currency and start again with a new Naira marked a sudden stepping-up of the military government's attack on corruption.

The government announced on April 24 that banks would start changing new notes for old the next day.
Brigadier Tunde Idiagbon, who ranks second in the new administration, said in a national television broadcast that the country's land borders would be closed immediately in a move to render the old Naira worthless abroad.

The changeover will extend to May 6.In that time people will be allowed to change up to 5,000 old Naira for new notes. Anything over that amount must be deposited in banks, accomplished by affidavits proving source and ownership -- another move to pinpoint corruption.
Brigadier Idiagbon said the withdrawal of the old notes had become necessary because rampant smuggling of Naira had been a key factor in the sabotage of the Nigerian economy.

He said that hundreds of thousands of Naira had been found in the homes of several former state governors after the civilian government was ousted on December 31 last year. (remember in 1984 1Naira fetched more than 1 dollar)
Since April 25, bank officials have been trying to move the new money across the counters as fast as they were receiving it, but many have complained that people were forced to queue for hours outside banks which had run out of money to distribute.

wordcat:


Seconded.

Thirded

Boss13:
Nice move. I wonder if the UK and US would do likewise. Both countries are quick to label Nigeria a corrupt country, but proceeds from corrupt countries are never repatriated.

US and all European banks encourage money laundering, as long as the money is coming from Africa and other third world countries. It continues and is a new form of digital slavery; to take from Africa and give to Europe, of course made possible by foolish brainwashed African elites. I have physical proof of laundered funds to and fro Africa up to the tune of N300 million!

Have they also confiscated Atiku's assets one of which include his million doller hotel investment. Economic/financial Jihad.

Riodiao:

MUMU , POVERTY HINDERS PROPER REASONING. U MUST BE AN APC FOLLOWER

I know you are benefiting from the PDP stolen fund via Doyin Okupe, let the guy alone, abi you be nigerian politician son? May be you are even one of them, agent of politheifcian spying on nairaland, your new job since your uncle lost election, tell them we are on rampage coming after your looter uncle, hehehehe! UAE noticed high inflow of fund from nigeria after buhari won election, are you stella oduah? Ole! You should be ashamed of yourself for supporting your fellow looters

Omo jati jati!

Some people no sabi read
They are sending the monies to their owner na One person dey say the government should use irt for.......

Guys say other countries should follow suit But one werey mentioned Switzerland... Lol $$$ the Swiss will return which money to where Lol you no know those guyz

emperorceaser:

Thirded

Fourthed. Lol
Am serious, where are the nigerians civil activist?

Change is here to stay.

Mynd44:
*cries in frozen millions*

The country isn't freezing any account, you blind fool! It is closing accounts of those Nigerians not working in the country and pay them in cheques equivalent to the amount they have in the closed accounts to curb money laundering. That makes sense as they are trying to cut down on illegal money.

I admire Dubai for this single move! Wow! That country really impresses me this time around.

chang

UrennaNkoli:
Saw that Dubai was trending in Nigeria and checked to see why, and saw these tweets from Nigerian journalist Fidelis Mbah! So I went to dig and found more details.

The UAE Central bank this week enacted a new policy prohibiting Nigerians who do not work in their country from operating accounts in any of their local or foreign banks. They say this is to prevent money laundering by Nigerian politicians which they claim has become rampant.

Now, they have reportedly closed accounts of all Nigerians not working in the UAE and issued them cheques equivalent to the amount they have in their accounts. All account holders reportedly have 5-working days to cash their money.
[img]http://1.bp..com/-8Fb8vldClfo/VUtnS0AvvkI/AAAAAAAFKZI/68CWdRznB4c/s1600/1.png[/img]

[img]http://2.bp..com/-bmANzHJg5SU/VUtnTqxx8KI/AAAAAAAFKZQ/1i2JXzD6uVw/s1600/2.png[/img]

[img]http://2.bp..com/-_poPC0DzAHc/VUtnVFDO6YI/AAAAAAAFKZg/bq-jcZPY35c/s1600/000.png[/img]

Source

thank you Dubai

aieromon:
They should send the cheques to Buhari. All account owners will then be invited to an interview session to explain the source of the funds.

Buhari must see this

wordcat:


Seconded.

Thirded

is it because of GMB or what?

Kindly gives us the source of this info.

Kindly gives us the source of this info.

Will the return the monies

If not, they are stealing...

If you believe this then you can believe anything. I googled this and only nairaland has this information. There is no sense that Dubai will be issuing out Cheques worth millions of dollars. Countries like Switzerland, US, etc have never been able to repartriate funds stolen by African dictators
Why would Dubai be obligated to?

Inform me when Swiss banks does same

This polithiefcians are the bane towards the deserved development of this Great Nation Nigeria.


This is quite laudable and really appreciated. Thanks a bunch.

They should bring those stolen moneys home, we need it

Boss13:
Nice move. I wonder if the UK and US would do likewise. Both countries are quick to label Nigeria a corrupt country, but proceeds from corrupt countries are never repatriated.

Well said please include Swis government.

Y should dey giv cheques equivalent of the polithiefery's savings, dey shound impound, sieze or even confiscate dia saving. Bt such funds should b returened 2 nigerian government so dat a critical assessment of its source will b carried out

Are there any credible reports or this a continuation of the latest trend of Nigerian 'blogs'?

There's nothing on the DFSA site to confirm this.

I support the motion

As the banks send letters to these Nigerians, they should send a copy of the letter to Buhari too.

Not Jonathan. Jonathan would get angry and create a diplomatic row with U.A.E to fight for the thieves.

Buhari will be penning down people who need to explain their wealth.

Buhari has not been sworn in and things have started happening.Good days ahead.

highmood:
Nice. This is a type of action I have expected these countries where our politicians, thier children and colleagues go for wasteful holidays to have taken. Its not enough to say they are helping us recover our stolen wealth, but they should make laws to prevent them from even coming to lodge the money in thier country.
If these politicians should fortunately steal, it will even be better and understandable if the money is seen to have been reinvested here but our pain is that the stolen billions are taken where it will never be productive but wasteful thereby impoverishing Nigeria citizens the more.

Good point. If they were reinvesting and creating jobs maybe the impact of their loot would be minimal. But sinc e they have no respect for money, they abuse it in wasteful and unimaginable indulgence. It should be against the law for these politicians to own a foreign account.

Thank God!!!

Boss13:
Nice move. I wonder if the UK and US would do likewise. Both countries are quick to label Nigeria a corrupt country, but proceeds from corrupt countries are never repatriated.

...their banks need d dirty money 2 to operate more profitably. D West are hypocrites

ona dey happy? buhari's tenure go hard ooh!