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Chinese Man Arrested At Kano Airport With Over 300K All In N5 Denomination. PICS - Crime (4) - Nairaland

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Re: Chinese Man Arrested At Kano Airport With Over 300K All In N5 Denomination. PICS by godquality: 6:40am On Aug 05, 2017
How's that a crime? That's not even up to 1000$. That amount is too small to be declared. So i don't understand this story. Unless there's a different reason for his arrest.
Re: Chinese Man Arrested At Kano Airport With Over 300K All In N5 Denomination. PICS by Nobody: 7:15am On Aug 05, 2017
FeloniousFelon:
5 naira totaling 300k?

Is that one money?

I can't even remember when I even saw 5 naira sef

The guy probably wants to use it in a Budhist Money tree ceremony were they burn fake or worthless currencies.





U haven't been seeing N5 naira because this man has been collecting em all.
Re: Chinese Man Arrested At Kano Airport With Over 300K All In N5 Denomination. PICS by aribisala0(m): 7:40am On Aug 05, 2017
godquality:
How's that a crime? That's not even up to 1000$. That amount is too small to be declared. So i don't understand this story. Unless there's a different reason for his arrest.
Not up to $1000 ? IS THE MONEY IN $ > If you don't know educate yourself instead of talking ignorantly.

Our rules say 5000 naira limit. It has nothing to do with with the rule on $. The rules exist for different reasons.

Naira notes are property of the Nigerian government and ever since the Biafa war when the Government changed the face of the notes there have ALWAYS been restrictions on exporting Nigerian currency.

This is a national security issue aand not a money laundering issue
Re: Chinese Man Arrested At Kano Airport With Over 300K All In N5 Denomination. PICS by Nobody: 9:42am On Aug 05, 2017
nn
Re: Chinese Man Arrested At Kano Airport With Over 300K All In N5 Denomination. PICS by belindar: 12:01pm On Aug 05, 2017
Is 5 naira note not Nigeria currency again? What is the offence of carrying 5 naira note. So if the money is in 1000 naira denominations he won't be arrested. Nonsense
Re: Chinese Man Arrested At Kano Airport With Over 300K All In N5 Denomination. PICS by dustydee: 12:34pm On Aug 05, 2017
FeloniousFelon:


Do you even know what "polymer" means?

Polymer banknotes are banknotes made from a polymer such as biaxially oriented polypropylene (BOPP). Such notes incorporate many security features not available in paper banknotes, including the use of metameric inks.[1] Polymer banknotes last significantly longer than paper notes, causing a decrease in environmental impact and a reduced cost of production and replacement.[2] Modern polymer banknotes were first developed by the Reserve Bank of Australia (RBA), Commonwealth Scientific and Industrial Research Organisation (CSIRO) and The University of Melbourne. They were first issued as currency in Australia during 1988 (coinciding with Australia's bicentennial year). In 1996 Australia switched completely to polymer banknotes. Other countries that have switched completely to polymer banknotes include; Brunei, Canada, New Zealand, Papua New Guinea, Romania, Kuwait and Vietnam. The latest countries to introduce polymer banknotes into general circulation include: the United Kingdom of Great Britain and Northern Ireland, Nigeria, Cape Verde, Chile, The Gambia, Nicaragua, Trinidad and Tobago, Bhutan, Republic of Maldives, Israel and Nepal.
https://en.wikipedia.org/wiki/Polymer_banknote
Happy now?
Re: Chinese Man Arrested At Kano Airport With Over 300K All In N5 Denomination. PICS by FeloniousFelon: 12:56pm On Aug 05, 2017
dustydee:



Happy now?

And which acidic compound will wear out ink and denture impressions and leave the plastic background intact?

The chinco dude has factored the cost of using worthless 5 naira notes to that of fake currencies in the Buddhist tree ceremony and decided that burning naira notes is cheaper.

Let's do the math.

At 330 to a dollar, a 5 Naira note is equivalent to approximately 0.015 cents.


This makes the 5naira note cheaper than any fake currency that will be under pressure to bought and burnt by the chinco.

In short the only crime here is that the chinco intended to destroy the naira note which is a crime.

There is no attempt at forgery as it isn't possible with plastic notes which some of you are claiming wash-wash tactics.
Re: Chinese Man Arrested At Kano Airport With Over 300K All In N5 Denomination. PICS by akigbemaru: 7:31pm On Aug 05, 2017
hedonistic:


This is mere conjecture. As law enforcement, it is not your duty to 'foresee' a crime before it is committed, without any evidence whatsoever other than mere suspicion, and proceed to arrest somebody.

Meanwhile, the law says that you are only required to declare the amount you are traveling with if it is more than $10,000 or its Naira equivalent.

This is barbaric and shameful of us as Nigerians. It is a joke.

N300K is approximately $900. Imagine the DEA or FBI in the United States arresting a Nigerian travelling from New York to Lagos, simply because he was 'caught' with genuine $900 - in whatever denomination. How would YOU react to that?

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