Billyonaire: What are you talking about ? You could tell me its against US policy that one can not withdraw up to that in their country, but $50k is not money, business owners withdraw 5 times of that daily in Nigeria.

Nigerians talk too much nonsense....in the USA...every and any transaction $10k and above is red flagged by the IRA...and from the report..the ask asked for an explaination...but a reasonable 1 cud not be given....read and learn

I welcome this news. As usual, the illiterates and the benighted in this thread will say that a $50K cash withdrawal and a $3.6 million wire in one month is not a lot of money and that the USA should raise no alarm and should not freeze Nigeria's account over such "small" sums. I vehemently disagree. I not only support the move but I also commend the United States for exposing how our government officials are laundering our money through the Nigerian Embassy's accounts.

The issue, however, is not whether the withdrawal or transfer was large or small, but whether there are justifications for such transfers and cash withdrawals.

A cash withdrawal of that extent is usually indicative of terrorism, money laundering, or fraudulent activities. There is no practical reason, at least in the United States, to withdraw $50K in cash, given that the United States is a cashless society.

This freeze at least exposes the manner in which our government officials spend our money like it is their inheritance, and I am glad we got to hear about it. I won't be surprised if the $50K was intended for use on strippers at the strip club. Who knows.

Billyonaire: So back to the thread, USA policies as it relates to Nigeria, as of late, has not been fair, from incessant warnings to their citizens of insecurities,

This is the responsibility of an reasonable government.

jamace:

Mr man, I have observed your comments on NL for a while now, and sadly, you adore the looting in the system. You are a beneficiary of this evil regime, I must conclude.

The same here.

Billyonaire: So back to the thread, USA policies as it relates to Nigeria, as of late, has not been fair, from incessant warnings to their citizens of insecurities, to reducing purchases of Nigerian crude, to freezing account of embassies and the refusal of visa issuance to even our stars. They are also not unconnected with campaign of calumny, CIA stated that Nigeria will cease to exist by 2016, these are all mind control mechanisms that does not show they care about the unity of Nigeria, whatever displeasure they have with the name Nigeria, should be heard, we as a people, need to understand that we are unloved by the West, this has always been glare with their IMF and WorldBank policies of keeping us perpetually on credit facilities to ruin our economy. America doesnt like Nigeria. Thats my personal opinion.

. . . but that is true, Nigeria has security problem. . fact! Or have you being living in another planet?

ifihearam: Those of you praising the US I shake my head in chinese for you guys. The Nigerian embassy represents the entity nigeria in the US,I repeat they have no justifiable rght whatsoever to freeze the account of a country. Cn they tru that rubbish witj the UK or Russia
If a diplomat withdraws 50k in a day what's wrong with that,abeg they should just tell us their ulterior motives rather than trying to play smart.

Nigerian embassy anywhere represents nigerian rogue government. They cannot be any diffrent from the thieves that sent them.

It takes a genuinely humane american government like that of Obama to pull that out. He really cares for suffering africans. Apart from that,nigeria is on terrorist watch list for being a terrorist haven.

Billyonaire: The bolden is 100% wrong, Boko Haram is not even listed as a terrorist organisation yet, get that fact.

America is making strong moves towards that even though the FG is kicking against it
How long will that take seeing Africa is fast becoming one of the epicenters of terror
Or that Africa is the next stop for the West's amorphous 'war on terror'?
You have Al Qeada of the Islamic Magreb[AQIM] active in Algeria,Mali and soon Nigeria
Do you have amnesia to the fact that they had links behind the German Engineer kidnapped and killed in Kano?
If Yankee seeks to 'invade' Nigeria, all they need do is have another 'Colin Powell' come before CNN and other imperialist news organization holding up a sachet of 'anthrax' as evidence
Wake up and smell the coffee

clubone05:
Nigerians talk too much nonsense....in the USA...every and any transaction $10k and above is red flagged by the IRA...and from the report..the ask asked for an explaination...but a reasonable 1 cud not be given....read and learn

A cash withdrawal of that extent is usually indicative of terrorism, money laundering, or fraudulent activities. There is no practical reason, at least in the United States, to withdraw $50K in cash, given that the United States is a cashless society.

+7700000

Billyonaire: USA, is $3.6 million dollars too much money to go through an account in a month ? Is $50,000 too much money to be withdrawn in cash by a country rep ? I am sick of this propaganda What is going on ? Is there something USA is trying to tell us ?

In a develop environment you have to be crazy to withdrew such a huge sum of money what they operated is a cashless system which gave their economy there stability and withdrawing such amount is very rear in an ideal country.

I support USA stand.Naija money nor be politicians private own.God go fight for Naija. God bless US.

Boyloaf: who discharged u from ur bed at d psychiatric hospital? Who?

IS DOCTOR PAPA OF YOURS THAT DISCHARGED ME.

@ billionaire..of course your embassy is sovereign..but no one said your countries bank account was sovereign or monies lodged in foreign bank.Its the real estate upon which your embassy stands that is sovereign...frozen money doesn't mean it is no longer urs...it just means you cant or might not be able to spend it at the moment.when and if it is unfrozen...the ownership might have changed hands but to more credible individuals I hope.

For those who find it necessary to rain personal attacks, all I can say is, Nigeria is our country, just like a family, we need to be careful how we castigate our name and country over the "World wide web", the enemy reads our divided minds over the internet and invests in our weaknesses to invade us. Unfortunately, if the division you guys so desire, which normally does not come through peaceful negotiations, presents itself, many who clamor for it, may not survive to enjoy it. Defend your country, no matter how bad, do not adore your enemies - Nigeria 1 verse 1.

If true, this is against d spirit of diploamcy. Can they do this to d chinese, for example. Why dont they search diplomatic bags belonging to our embassy officials.

To all saying that the US was wrong in freezing the account, you need to understand that the US is a country with functioning security agencies.

1. There’s a law called the Bank Secrecy Act that requires banks to report any daily withdrawal or deposit of $10,000 or more to government agencies.

2. The law also requires the banks to report any suspicious activity even if the amount is less than $10k.

3. It is not necessarily the $50k amount withdrawn from the embassy’s account that is of importance but more about the history of the account. If you’re a business that normally conducts traceable transactions of $20,000 per month but in a particular month, you moved about $3.6 million that can’t be traced to a legal transaction, you’re bound to raise red flags. The authorities are not saying anybody did something illegal; they’re merely saying that something does not look right and are giving you an opportunity to explain yourself.

escobar07: If true, this is against d spirit of diploamcy. Can they do this to d chinese, for example. Why dont they search diplomatic bags belonging to our embassy officials.

Diplomatic bags are covered by diplomatic immunity and can't be searched or seized. Diplomatic bags contain official correspondence between an embassy and its home office.

ANYBODY can be arrested by the police in the US if you break the law. Who you are only changes whether you will be charged or released if you have diplomatic immunity.

Thank God Farida Waziri is no longer the EFCC Chairman. Everything would have been blamed on her.
Now, we know those who are really looting the nation and covering up!

Wallie: To all saying that the US was wrong in freezing the account, you need to understand that the US is a country with functioning security agencies.

1. There’s a law called the Bank Secrecy Act that requires banks to report any daily withdrawal or deposit of $10,000 or more to government agencies.

2. The law also requires the banks to report any suspicious activity even if the amount is less than $10k.

3. It is not necessarily the $50k amount withdrawn from the embassy’s account that is of importance but more about the history of the account. If you’re a business that normally conducts traceable transactions of $20,000 per month but in a particular month, you moved about $3.6 million that can’t be traced to a legal transaction, you’re bound to raise red flags. The authorities are not saying anybody did something illegal; they’re merely saying that something does not look right and are giving you an opportunity to explain yourself.

We also have ours and it is called Money laudering act.

Wallie: To all saying that the US was wrong in freezing the account, you need to understand that the US is a country with functioning security agencies.

1. There’s a law called the Bank Secrecy Act that requires banks to report any daily withdrawal or deposit of $10,000 or more to government agencies.

2. The law also requires the banks to report any suspicious activity even if the amount is less than $10k.

3. It is not necessarily the $50k amount withdrawn from the embassy’s account that is of importance but more about the history of the account. If you’re a business that normally conducts traceable transactions of $20,000 per month but in a particular month, you moved about $3.6 million that can’t be traced to a legal transaction, you’re bound to raise red flags. The authorities are not saying anybody did something illegal; they’re merely saying that something does not look right and are giving you an opportunity to explain yourself.

Did they say the $50,000 was used for illegal purchase or was the $3.6m used for illegal dealings, do you find out that ? What if someone needs to buy a home that cost that amount using the embassy staff as a broker ? Is there any law yet in US saying no embassy staff should be used as broker, am not in support of money laundering, but all am saying, USA has been very intolerant with Nigeria and Nigerians lately, can they tell us what is biting them ? Are they losing Oil bloc bidding to China ? IS the Halliburton contracts not coming ? Are we seeking space satellite and nuclear energy resourcing from Russia and not USA, Nairalanders should stop being myopic and start searching for causes and not effects, your enemy will punish you severely for stealing his needle while letting his friends steal his trucks with impunity. Look beyond a mile, people

Billyonaire: For those who find it necessary to rain personal attacks, all I can say is, Nigeria is our country, just like a family, we need to be careful how we castigate our name and country over the "World wide web", the enemy reads our divided minds over the internet and invests in our weaknesses to invade us. Unfortunately, if the division you guys so desire, which normally does not come through peaceful negotiations, presents itself, many who clamor for it, may not survive to enjoy it. Defend your country, no matter how bad, do not adore your enemies - Nigeria 1 verse 1.

This point really needs to be drummed into the heads of 'the seperationists'. A balance needs to be struck against the crusade against corruption & terror and cultivating an overbearing & panicky attitude which is typical of the US.

Billyonaire: Did they say the $50,000 was used for illegal purchase or was the $3.6m used for illegal dealings, do you find out that ? What if someone needs to buy a home that cost that amount using the embassy staff as a broker ? Is there any law yet in US saying no embassy staff should be used as broker, am not in support of money laundering, but all am saying, USA has been very intolerant with Nigeria and Nigerians lately, can they tell us what is biting them ? Are they losing Oil bloc bidding to China ? IS the Halliburton contracts not coming ? Are we seeking space satellite and nuclear energy resourcing from Russia and not USA, Nairalanders should stop being myopic and start searching for causes and not effects, your enemy will punish you severely for stealing his needle while letting his friends steal his trucks with impunity. Look beyond a mile, people

You obviously have not lived in a decent society. any large transaction can be done via wire transfer or bank draft. And if someone want to buy a house but using the embassy staff as a broker, that QUALIFIES for Laundering!

He/she should just wire directly to the staff's account and the staff can take it from there. Not to the account of the country. You are not sounding very smart!

LET THE U.S REMOVE THE LOG IN ITS OWN EYES, BEFORE SEEING THE SPECK IN ANOTHER'S EYES.
The US is a very corrupt nation..just that they successfully hide the atrocities they commit from the public eye.
Wish other countries will stop seeing US as a last bus stop. If they blacklist a country, others will follow suit and do same. Why??
When have they become a god to their fellow human beings?

I appeal that the entire Nigerian Federal and States' Account be frozen to save us from these looters. Our sovereignty (which makes these thieves untouchable to an extent) does more damage to the Nigerian state with the unbridled access these looters have to the coffers of state.

US-AutoBuy:


You obviously have not lived in a decent society. any large transaction can be done via wire transfer or bank draft. And if someone want to buy a house but using the embassy staff as a broker, that QUALIFIES for Laundering!

He/she should just wire directly to the staff's account and the staff can take it from there. Not to the account of the country. You are not sounding very smart!

Did you see the phrase "WHAT IF", mr know too much. And for your information, embassy is actually a broker between 2 nations.

youngies: Nigeria and the United States of America government might be heading for a diplomatic row over the decision of the latter to freeze some of the accounts of the country's embassy in Washington, DC.

Bank of America, M&T Bank and Wells Fargo received directive from the US government to close the accounts of the Nigerian embassy in Washington and its consulate in New York on suspicion of money laundering after traffic on the various accounts raised a red flag.

The decision is sequel to intelligence report generated by a panel comprising representatives of the US Department of Justice, the Federal Bureau of Investigations (FBI) and the Department of Treasury, unknown to Nigerian embassy officials, to monitor wires and traffic in all the accounts operated by the embassy.
A credible online website http://www.huhuonline.com/ had reported yesterday that the US on Wednesday vowed to ignore a request by the federal government urging Bank of America and Wells Fargo to unfreeze Nigerian embassy's bank accounts in Washington, DC, and New York.

The move, according to sources, is setting the stage for a potential showdown between the two countries with Nigeria also threatening to reciprocate by freezing the US embassy's accounts in the country.

The online media stated that about $3.6 million dollars was said to have entered and left the accounts in under a month, the latest transaction being the withdrawal of $50,000 in hard cash by a top embassy staff.
In rejecting the federal government's request, a source in the State Department was quoted as saying, "The Nigerian embassy was unable to respond to requests for clarification about payments and transactions into the account and there are reasonable grounds to believe that the accounts are being used as channels for money laundering and other financial crimes.''

The source, who said the move was not targeted at the country's embassy alone, told the online news blog that the embassies of two other unnamed African countries were affected by the freeze.

More: http://channelkoos.com/index.php/news/1782-money-laundering-us-govt-freezes-nigerian-embassys-accounts

pardon my ignorance, but is there any website that is not online

Billyonaire: Did they say the $50,000 was used for illegal purchase or was the $3.6m used for illegal dealings, do you find out that ?

Nobody said the $50k was used for an illegal purpose.

Billyonaire:
What if someone needs to buy a home that cost that amount using the embassy staff as a broker ? Is there any law yet in US saying no embassy staff should be used as broker, am not in support of money laundering, but all am saying, USA has been very intolerant with Nigeria and Nigerians lately, can they tell us what is biting them ?

If someone wanted to use the money to buy a house, they would have simply said so when asked. What's the need for secrecy? Moreover, wouldn't a person rather pay that large sum of money with check or some other instrument like bank draft, wire transfer or money order that evidences payment? Let's even say that they had a legitimate reason to pay someone or a company $50k in cash, why can't they easily disclose the name of the person or company?

Billyonaire:
Are they losing Oil bloc bidding to China ? IS the Halliburton contracts not coming ? Are we seeking space satellite and nuclear energy resourcing from Russia and not USA, Nairalanders should stop being myopic and start searching for causes and not effects, your enemy will punish you severely for stealing his needle while letting his friends steal his trucks with impunity. Look beyond a mile, people

lol...are you referring to the US that is not even buying all the oil consigned to them from Nigeria? Funny enough, you’re the same person that I responded the link to the post below to; maybe you should have read it.

https://www.nairaland.com/963689/okonjo-iweala-warns-nigerians-prepare-economic/1#11112693

afam4eva: The accounts of all the Nigerian political thiefs should be freezed as well.

It provides foriegn direct capital investment into their economy. They will never prevent it from coming into their economy if we are foolish to let them steal it,

bakila:

It provides foriegn direct capital investment into their economy. They will never prevent it from coming into their economy if we are foolish to let them steal it,

That might be the reason but let me give you a more probable one – you can’t just seize someone’s personal property without due process, especially in the US.

1. How would they know without investigation, that a politician is a thief if the owner of the property, Nigeria, is not accusing the person of thievery? The government needs a court order to seize one’s personal property and the court order has to be supported by evidence that can stand up to scrutiny in US courts; otherwise, the judge won’t authorize it.

2. Even if they want to investigate, why should the US tax payers shoulder the burden of the investigation? Do you know how many millions the UK spent to investigate and prosecute Ibori? Why take Panadol for somebody else’s headache, especially if that person is not complaining of headache?

3. Lastly, when the money eventually gets seized, Nigerians are the first to scream “ole” when the prosecuting country tries to recoup their cost from the loot.

Praaaaaaaaaaise the Lord, halleluya. A very welcome development.

Billyonaire: Did they say the $50,000 was used for illegal purchase or was the $3.6m used for illegal dealings, do you find out that ? What if someone needs to buy a home that cost that amount using the embassy staff as a broker ? Is there any law yet in US saying no embassy staff should be used as broker, am not in support of money laundering, but all am saying, USA has been very intolerant with Nigeria and Nigerians lately, can they tell us what is biting them ? Are they losing Oil bloc bidding to China ? IS the Halliburton contracts not coming ? Are we seeking space satellite and nuclear energy resourcing from Russia and not USA, Nairalanders should stop being myopic and start searching for causes and not effects, your enemy will punish you severely for stealing his needle while letting his friends steal his trucks with impunity. Look beyond a mile, people

You are funny though, I doubt that there's ANY law that bars embassy staff from being brokers, but why would someone withdraw $50,000 in "HARD CASH" by an embassy official? Btw, someone who wants to buy a house goes through the financial process. There's a buyer, seller, broker etc, that's all they needed to explain when they called for clarification.


Losing oil blocs to China, like Wallie said, have you been listening to news lately? As of two months ago, United States was declining interest in Nigerian oil, and Nigeria has to export to Asia, (2x distance) than their counterparts in Americas deepening profitability. Why do you think Nigeria is concerned about oil prices and export benchmark?


Space satellites and nuclear energy? Are you serious? Look at ALL the major nuclear mutli conglomerates, where do they operate? Mostly America and some in Europe, how many of them are in China or Russia? My friend, Russia is just living on past glory when it comes to Nuclear Advancement. Talk about space satellites? America has about 1,000+ satellites compared to Russia and China combined 5x, go figure. You might dislike America, as for me, I will condemn America when I need to but these, is just plain weak.

ifihearam: Those of you praising the US I shake my head in chinese for you guys. The Nigerian embassy represents the entity nigeria in the US,I repeat they have no justifiable rght whatsoever to freeze the account of a country. Cn they tru that rubbish witj the UK or Russia
If a diplomat withdraws 50k in a day what's wrong with that,abeg they should just tell us their ulterior motives rather than trying to play smart.

Onviously, they cant do that to china and russia cos those countries respect themselves. Simple explanation, the guy couldnt give. Why wont they suspect fraud?
Abegi!!!