i dey very disappointed with many of una wey supposedly be educated people. 

for perspective, N1trillion dey approximately equal to $7billion! if most of dat money still dey for nigeria, bailout for no necessary. forensic experts go examine books and trace de money to de foreign accounts where dem dey. de ones wey dem don take buy asset like buildings for inside nigeria no be problem, banks fit seize those buildings.

una don forget say, na forensic experts wey help us trace and recover abacha loot.

if dem pay de forensic experts $10million and dem help us trace and recover some of de bad loan proceeds of say, $1billion, in my view, dat na money well spent.

make we just wait and see. one ting dey certain, de days of looting nigerian banks under de pretext of loans are over.

many of una wey dey criticise this efcc move are a bit misinformed.

Forensic experts will try but bribe will still destroy their quest.

ndu_chucks:

i dey very disappointed with many of una wey supposedly be educated people. 

for perspective, N1trillion dey approximately equal to $7billion! if most of dat money still dey for nigeria, bailout for no necessary. forensic experts go examine books and trace de money to de foreign accounts where dem dey. de ones wey dem don take buy asset like buildings for inside nigeria no be problem, banks fit seize those buildings.

una don forget say, na forensic experts wey help us trace and recover abacha loot.

if dem pay de forensic experts $10million and dem help us trace and recover some of de bad loan proceeds of say, $1billion, in my view, dat na money well spent.

make we just wait and see. one ting dey certain, de days of looting nigerian banks under de pretext of loans are over.

many of una wey dey criticise this efcc move are a bit misinformed.

Even the fools knows those that have taken the money.

@Aloy.Emeka

How will forensics work in this case?. Are they looking for DNA's on the vaults or what?. One thing is getting a scientific link to the money and another is getting the person to match it to. Nigeria has no CODIS, no record of its citizens, no nothing. For all I know, it could be

Akingbemaru

or Udezue who are responsible for the stolen money. Oyibo too sabi thief, just pay them money, they will come and speak english for them instead of telling that mamula known as Mrs Waziri that this will not work.

You know we cool now, I am not a politician, why would you mention me in the stolen money. Another conspiracy theory right here.

I'm sure Forensic analyst means something different from the DNA type thing ur thinking. there r different branches n divisions of forensics.
and if u read the title and post more attentively, you will see that they are not trying to "catch the thieves" instead they are trying to "trace the money." or wherever the money is scattered to. which makes a lot of sense to me. instead of looking for culprit why not just find and get the money?
and i don't see any problem in bringing the professionals from abroad. we at home don't even know what forensic analyst means. we only know how to torture the thieves not how to wisely get the money back.

all I hope now is that the money is successfully traced and put back into reserve or the economy.

And who says that is going to happen in Nigeria?

^

The analysts have reportedly been working round the clock with EFCC operatives in an undisclosed location in Lagos .

Working round the clock is way different from effectiveness.

sagamite, the level of financial literacy on this board is AMAZING. People don't even know what forensic experts are for? Aloyemeka said on the first post that forensics has to do with science and DNA, he does not know that there is something called forensic accounting where you trace very complex frauds.

there was once a report on how many nigerians has so much money in foreign accounts, so tell me what is so hard in tracing such money and investigating how they made such money?
is there a need for any special forensic saga?

TheSeeker:

Working round the clock is way different from effectiveness.

and what sources do you have that they are ineffective? why are we nigerians so easy to dismiss any positive move by the country? let's just wait and see first. or at least encourage them for once.

Fhemmmy:

there was once a report on how many nigerians has so much money in foreign accounts, so tell me what is so hard in tracing such money and investigating how they made such money?
is there a need for any special forensic saga?

lol. i don't think the investigation is very easy, fhemmmy.
for example, not many people knew about the looted money abacha stole until after his death when it all came out into the open.

davidif:

sagamite, the level of financial literacy on this board is AMAZING. People don't even know what forensic experts are for? Aloyemeka said on the first post that forensics has to do with science and DNA, he does not know that there is something called forensic accounting where you trace very complex frauds.

Abi o.

But I guess there are things I too would not know if I am not and never been in (or interested in) an industry, e.g. my knowledge of the Fashion and Celebrity industry, so sometimes I no blame people that much.

I only blame them when you are correcting them and they still dey do agidi (defiance).

Fhemmmy:

Even the fools knows those that have taken the money.

Bleep me!

Despite all the simple ABC explanations of Forensic Accounting, you are still proffering this kind of argument? 

Fhemmmy:

there was once a report on how many nigerians has so much money in foreign accounts, so tell me what is so hard in tracing such money and investigating how they made such money?
is there a need for any special forensic saga?

It is obvious you have absolutely no clue about the financial industry, please refrain from further contributions on this. No be by force to contribute.

And the saga continues,

When will this end?

Only God knows

Sagamite:

Abi o.

But I guess there are things I too would not know if I am not and never been in (or interested in) an industry, e.g. my knowledge of the Fashion and Celebrity industry, so sometimes I no blame people that much.

I only blame them when you are correcting them and they still dey do agidi (defiance).

Bleep me!

Despite all the simple ABC explanations of Forensic Accounting, you are still proffering this kind of argument?  

It is obvious you have absolutely no clue about the financial industry, please refrain from further contributions on this. No be by force to contribute.

mr femi
na by force to contribute
with all the explanations about forensic accounting?
for those of yu defiant illitrates its soooo simple
Forensics as a science unerths lost wateva and so forensics exists in sooo many disciplines from crime to fossils to accounting to IT to telelcoms etc
now most of this banks exec elcetronicall and with the aids of financial tools best understood by them hav diverted funds to places wia even wia yu can see its being diverted dias a nothing yu can do except with trained and knowledgable professionals
the only thing i wld av frowned at is if Nigerias werent part of dem but the post says these pros are coming to partner with 8 of our own
carefully planned robberies need carefully planned recoveries
besides these culprits have been identified but ow about dia loots, which is d most importnt


make una no dey talk anyow o!

oga !

f

guys lets stop all these arguments,I think waziri did right,I think that hiring these expert might point out the digital path or fingerprints of thesemonies,some might have been wored abroad,if these where traced to countries like US and the Uk, it will be like another Ibori saga,the mone might not find its way back to the fedral acounts, but one thing is for sure,thesepeople would be lebeld black and so is thier dependants finacialy plus they can never retain those funds,just my thought,come to think of it, what use is a politician if he cant visit the Us and Uk and other western countries, knowing Nigerians who like to show off.

This is pure madness and ludacris. Why do you need forensic experts to trace money? So Nigerian money now has DNA?

What is the cost of hiring, housing and accomodating this 10 experts in Nigeria?

Mamajama:

This is pure madness and ludacris. Why do you need forensic experts to trace money? So Nigerian money now has DNA?

What is the cost of hiring, housing and accomodating this 10 experts in Nigeria?

Quick Analysis:

You are either retarded or you can't read.

@Sagamite father of idiots, so now that you can read why don't you tell us why you need a forensic experts to trace money. Damn fool isn't that what private investigators are for? Animal in monkey skin

Forensic experts= forensic accountants


not related to DNA,, forensic scientists

Mamajama:

@Sagamite father of idiots, so now that you can read why don't you tell us why you need a forensic experts to trace money. Damn fool isn't that what private investigators are for? Animal in monkey skin

Retard, read the thread.

Sagamite:

Retard, read the thread.

Mr. Forensic. . . was there a list out recently as per how much money Nigerian past leaders had in some foreign accounts?
What has been done with this?
Are some of the people on that list still alive or dead?
So how come nothing has been done about that first and now they wanna pay some more millions of probably $$ to chase and compile same list for us to do nothing about it?
I try not to call people names, however, it is another chase of shadow and nothing will come out of it.

Fhemmmy:

Mr. Forensic. . . was there a list out recently as per how much money Nigerian past leaders had in some foreign accounts?
What has been done with this?
Are some of the people on that list still alive or dead?
So how come nothing has been done about that first and now they wanna pay some more millions of probably $$ to chase and compile same list for us to do nothing about it?
I try not to call people names, however, it is another chase of shadow and nothing will come out of it.

No 1, your language was more in the line of lack of understanding of what forensic accounting is. You misintepreted it as solely a way of finding out who stole money rather than where the money went.

No 2, are you suggesting they do nothing because of past inactions?

Fhemmmy:

Mr. Forensic. . . was there a list out recently as per how much money Nigerian past leaders had in some foreign accounts?
What has been done with this?
Are some of the people on that list still alive or dead?
So how come nothing has been done about that first and now they wanna pay some more millions of probably $$ to chase and compile same list for us to do nothing about it?
I try not to call people names, however, it is another chase of shadow and nothing will come out of it.

it's not that difficult to understand homeboi.
Yes we've all seen published foregin accounts of past leaders and a capital YES they are damn right guilty in the court of public opinion.
In order to have a case against this people, forensic experts ought to root out and untangle the clever tangled ways these frauds where committed in the first place.

This is a long thing/tin. While waiting on the outcome hopefully quick, it would be nice to know what punishments are intended to the right guilty as charged individuals. eg china jails and hangs; usa, uk, france, canada and co, prosecutes and jails; middle east beheads; russia siezes when convienent and can also assasinate; africans elects/ praises.

Hopefully, this situation is being carried out by honest people on all / most sides. I hope they did not give the job all to foreigners because they might favor bank accounts in their birth countries, so I just hope their nigerian counterparts are 80% stationed in the technical, forensic detailed know hows, and gathering informations for future purposes.
This should lead to the real crime forensics by firstly fingerprinting and safely storing a network of data of new borns, government workers, prisoners, students, voters, the willing, foreigners, and criminals. This corruption issue can be curtailed pretty soon. All this big talks in some nation would make sense but in the current nigeria i take it with plenty grains of salt beginning with a grain. God dey.

@Sagamite it's either you are a fool or does not know the difference between a forensic experts and a private investigator. Please go back and read the thread as well and explain why do you need a medical practitioner to investigate money laundry. Even my 8 years old child can read make better assumption as to this insensitive investigation

Mamajama:

@Sagamite it's either you are a fool or does not know the difference between a forensic experts and a private investigator. Please go back and read the thread as well and explain why do you need a medical practitioner to investigate money laundry. Even my 8 years old child can read make better assumption as to this insensitive investigation

mamajama, quit while you can.

"Forensic" means "suitable for use in a court of law", and it is to that standard and potential outcome that forensic accountants generally have to work. Forensic accountants, also referred to as forensic auditors or investigative auditors, often have to give expert evidence at the eventual trial.

simple google for reveal this fact to you. abeg stop making a fool of ya self for here.

Mamajama:

@Sagamite it's either you are a fool or does not know the difference between a forensic experts and a private investigator. Please go back and read the thread as well and explain why do you need a medical practitioner to investigate money laundry. Even my 8 years old child can read make better assumption as to this insensitive investigation

Illiterate retard, I knew you could not read.

So despite the A,B,C nursery school explanation we gave here you still think forensics mean medical practitioners?  Lord of Mugus.

So dem dey wash money for Nigeria now? Abi wetin be money laundry?  Weeree!!!

Money laundry ko, Money shampoo ni.

FOOOOL!

This remind me of June 12, Cancel the election and look for reasons later.

In this case, steal other people's bank and look for reason why you did it.

They will need more than forensic experts to convince me that Intercontinental and Oceanic banks are distressed.

ogb5:

This remind me of June 12, Cancel the election and look for reasons later.

In this case, steal other people's bank and look for reason why you did it.

They will need more than forensic experts to convince me that Intercontinental and Oceanic banks are distressed.

I guess so.

Most likely they would need a psychiatrist to convince you if you don't believe a bank that is going cap-in-hand to its nation's Central Bank for cash to fund its day to day activities (of paying staff and servicing liabilities) is not a bank in distress.

*Morons plenty!*