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Nairaland Forum / Nairaland / General / Crime / Tension as EFCC Seizes Dollars From Onitsha Traders (40153 Views)
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Re: Tension as EFCC Seizes Dollars From Onitsha Traders by eyesofgod: 8:40am On Sep 27, 2015 |
obstead200: "There is tension in Onitsha Main Market, Anambra state as operatives of the Economic and Financial Crimes Commission (EFCC) stormed the market after arresting seven traders at the Enugu International Airport for alleged money laundering" Learn the art of reading, my friend. It will save you a lot of stress. 1 Like |
Re: Tension as EFCC Seizes Dollars From Onitsha Traders by adconline(m): 8:41am On Sep 27, 2015 |
Ramnon2:Another ignorantly-opinionated troll.. Banks don't accept foreign currencies in Naija. Why is that folks that have never held any dom account are talking 2 Likes |
Re: Tension as EFCC Seizes Dollars From Onitsha Traders by lomprico(m): 8:43am On Sep 27, 2015 |
My own stake on this issue is that there are laws on d limit of foreign currency one shld carry when travelling. Agreed! So if u r caught, u shld face d music. But where am see tribal and anti-igbo sentiments is efcc storming the market to arrest the exchangers, Abok¡s have been doing this trade for ages n I have never heard they were arrested for exchanging large amounts. 3 Likes |
Re: Tension as EFCC Seizes Dollars From Onitsha Traders by ohenhen1: 8:44am On Sep 27, 2015 |
Disappointing responses so far on this thread. Nigeria is finally following the rule of law. some people want lawlessness to continue. why is it so difficult to declare any thing above $10,000? unless you are doing something illegal. 2 Likes |
Re: Tension as EFCC Seizes Dollars From Onitsha Traders by eyesofgod: 8:46am On Sep 27, 2015 |
lomprico: I think you will benefit from this. "There is tension in Onitsha Main Market, Anambra state as operatives of the Economic and Financial Crimes Commission (EFCC) stormed the market after arresting seven traders at the Enugu International airport for alleged money laundering. " And this: Chairman of the Onitsha Main Market Traders Union (OMMATU), Chief Innocent Agudiegwu who confirmed the incident, said that the traders were arrested at the airport and brought to the market where it was ascertained that they were genuine traders and not money launderers." 1 Like |
Re: Tension as EFCC Seizes Dollars From Onitsha Traders by adconline(m): 8:47am On Sep 27, 2015 |
ohenhen1:You declare if u are traveling outside the country with the money not when u have the money at BDCs inside a market!! |
Re: Tension as EFCC Seizes Dollars From Onitsha Traders by zuchyblink(m): 8:48am On Sep 27, 2015 |
tdayof:what an irony |
Re: Tension as EFCC Seizes Dollars From Onitsha Traders by petikal(m): 8:48am On Sep 27, 2015 |
badnature: What's stopping you from doing a wire transfer using your bank at the official rate? The "new policy" didn't change that. Is it too inconvenient for you, or the rate is too low? Do you see my point here? 2 Likes |
Re: Tension as EFCC Seizes Dollars From Onitsha Traders by badnature: 8:49am On Sep 27, 2015 |
@lamprico currently in Nigeria bank don't transfer money out side this country,now according to our emperor( buhari) you can travel with more than $5000 declared or not.so my question is if you want to buy something in China worth $70000 what will you do? 3 Likes |
Re: Tension as EFCC Seizes Dollars From Onitsha Traders by bnovative(m): 8:49am On Sep 27, 2015 |
HungerBAD: Did u also read this: "The source said that upon interrogation, the traders were said to have mentioned where they purchased the foreign currency in the market, hence the visit of the EFCC operatives to the Main Market to arrest the dealers." |
Re: Tension as EFCC Seizes Dollars From Onitsha Traders by dozymars(m): 8:49am On Sep 27, 2015 |
This policy was initiated to eliminate money laundering so as to avoid the high exchange rate been experienced. This policy is affecting importers, we are still a consuming nation, the manufacturing is not performing. The government needs to give considerations to these importers otherwise products will become scarce and therefore the price of these products will increase which will end up causing inflation and the economy will be affected. This is like going round in circles- preventing one thing and then causing another. 3 Likes |
Re: Tension as EFCC Seizes Dollars From Onitsha Traders by lomprico(m): 8:52am On Sep 27, 2015 |
eyesofgod: The source said that upon interrogation, the traders were said to have mentioned where they purchased the foreign currency in the market, hence the visit of the EFCC operatives to the Main Market to arrest the dealers. I hope the above will remove the scales from your eyes. 1 Like |
Re: Tension as EFCC Seizes Dollars From Onitsha Traders by zuchyblink(m): 8:52am On Sep 27, 2015 |
Nellybii:the gospel according to you |
Re: Tension as EFCC Seizes Dollars From Onitsha Traders by Okudiover(m): 8:52am On Sep 27, 2015 |
HungerBAD: Well said Bro. Illegality has been around for so long that a lot of peeps no longer know when they are breaking the law. As my people used to sy "Aruru ani gba afo ya huo omenala". 1 Like |
Re: Tension as EFCC Seizes Dollars From Onitsha Traders by funkiebully: 8:53am On Sep 27, 2015 |
petikal: In as much as I want to agree with u partly, I won't fail to point out to u that the present policy of PMB on forex transaction is killing business. Have u wondered why this kind of arrests were not occurring before? These traders used to buy dollars from those BDC mallams, pay in the cash into their dom account and give instructions to do banker to credit the chinese manufacturers. Now all of a sudden buhari brot a policy that cash deposit to dom account must stop. Some of these traders already have dollar purchased, in fact majority of them keep their money in dollars cos fluctuations affect them too as per losses when dollar appreciates. So with these dollars on them, they can't pay into their dollar account, do u expect them to burn d currency? Why must govt give a fiat order on economic issues that affect d economy without thinking of the consequences? U cant tell me these traders are not aware of PTA & BTA which are $5000 & $10,000 respectively, they have to make out ways of spending their hard earned money in dollars which they can't transfer cos of d silly policy of PMB. On the arrest issue, why are they not arresting those mallams who politicians are now using to discard their looted and starshed dollars, thereby transferring d risk n potential of arrest to traders. Why didn't EFCC arrest d mallam that sold them d dollars? There are elements of witch hunt and economic starvation to this policy n selective arrest. 6 Likes 1 Share |
Re: Tension as EFCC Seizes Dollars From Onitsha Traders by Okudiover(m): 8:57am On Sep 27, 2015 |
bnovative: That the traders mentioned where they made the transaction is a different matter. The best you can charge the operators is for operating a bureau de change outside existing monetary regulations. This does not absolve the traders of culpability in money laundering as ignorance of the law is no excuse. |
Re: Tension as EFCC Seizes Dollars From Onitsha Traders by limen123: 8:58am On Sep 27, 2015 |
Biafra come fast fast jare... Make all man dey him own. Republic of Biafra we stand! 1 Like |
Re: Tension as EFCC Seizes Dollars From Onitsha Traders by tiwiex(m): 8:58am On Sep 27, 2015 |
[quote author=HungerBAD post=38417633]Universally, anything up to $10.000, even if the post erroneously said it's $5000, not reported to the Customs at the Airport is an offense. This is not a tribal thing. Those Trying To Make this a witch hunt thing, are full of mischief. All the traders needed to do was declare their MONEY. Trying to sneak a large amount of money out of the country, knowingly or not, is an offense. They broke the law, and there are consequences for that. And remember, ignorance is not an excuse before the law, incase they claim they did not know they were breaking the law.[/quote We really need to be sure the law says you can't carry above or you have to declare accirqtly with reasons. But then again, let's assume you can't, Oga pmb has Alao made transfers and dorm accounts very cumbersome. The man wants to fight corruption at the expense of economic growth. He is not striking a balance at all. This approach is quite kindergarten. Not exactly professional and broadly thought out. I am getting worried about this government's approach now. It is firstly about the economy oh. 3 Likes |
Re: Tension as EFCC Seizes Dollars From Onitsha Traders by ExInferis(m): 8:59am On Sep 27, 2015 |
When we say people from the South Yeast are criminals some people eye go turn red. Carrying more foreign currency than the stipulated amount is criminal, as is not declaring it. These flat-heads broke the laws, but then igboe no sabi any law. All they know and understand are shortcuts to riches. Go school, them no gree. Tribe of touts and criminals. 1 Like |
Re: Tension as EFCC Seizes Dollars From Onitsha Traders by Ibime(m): 9:00am On Sep 27, 2015 |
HungerBAD: Rubbish. The EFCC are thieves who have gone to the market to steal people's dollars. If any trader is caught with over $10k, that's the business of Customs at the airport. They have a legal right to seize and investigate any monies found AT THE AIRPORT. Wetin concern them with going into the market to steal money from currency exchangers? Did the currency exchangers try to smuggle more than $10k out of the country? 3 Likes 1 Share |
Re: Tension as EFCC Seizes Dollars From Onitsha Traders by eyesofgod: 9:03am On Sep 27, 2015 |
lomprico: Who were the dealers? 1 Like |
Re: Tension as EFCC Seizes Dollars From Onitsha Traders by Okudiover(m): 9:04am On Sep 27, 2015 |
limen123: Sorry to burst your bubble Sir, but even in. Hypothetical 'Biafra' this would still be an offence as the laws against money laundering is a global one. That you are not caught the airport in Biafra does not mean you may not be caught in an airport in Shanghai. All United Nations Countries are signatories to this effect trust me. |
Re: Tension as EFCC Seizes Dollars From Onitsha Traders by petikal(m): 9:06am On Sep 27, 2015 |
funkiebully: So, the government should compensate them for doing their conversions in the black market? You realize this is part of what's killing us? The arrests didn't occur, and so what should've been stopped became normal - still didn't make it right. If they have dollars on them and need to conduct international trades, they can still do that at the bank. People cry because it'll cost them a bit more now, but that's a tactical way of strengthening our currency and encouraging transparency. You just can't break a law and complain because you know politicians do it too. Two wrongs don't make a right. Instead, play your part, then use the proper channels to expose those that break the law. 2 Likes |
Re: Tension as EFCC Seizes Dollars From Onitsha Traders by funkiebully: 9:07am On Sep 27, 2015 |
[s] ExInferis:[/s] Red oil gulping bastard. What do u know about business? Useless fetish ritualistic raping coward. Clear from road let reasonable ppl discuss serious matter. Anumpama! 6 Likes |
Re: Tension as EFCC Seizes Dollars From Onitsha Traders by vexing(m): 9:08am On Sep 27, 2015 |
rusher14:Then why EFCC go to d market to arrest the bureau de change guy. How many aboki bureau de change guys have been arrested. Stop forming intellectual my guy. This is pure witch hunting. Smh for this pathetic country called Nigeria 3 Likes |
Re: Tension as EFCC Seizes Dollars From Onitsha Traders by missKiffy(f): 9:08am On Sep 27, 2015 |
This people just cry witch hunting for every damn thing, na wah o and they won't seize to support their own even when it's glaring "their own" is doing something bad. They are the problem of this country but they think other people are |
Re: Tension as EFCC Seizes Dollars From Onitsha Traders by funkiebully: 9:09am On Sep 27, 2015 |
petikal: Young man, tell me how those that had dollar on them before this policy can transact in bank when banks no longer accept dollar deposit? |
Re: Tension as EFCC Seizes Dollars From Onitsha Traders by Okudiover(m): 9:10am On Sep 27, 2015 |
funkiebully:Now that is what I call 'FRANK TALK'. 3 Likes |
Re: Tension as EFCC Seizes Dollars From Onitsha Traders by petikal(m): 9:11am On Sep 27, 2015 |
funkiebully: You can still convert your dollars at the bank, and conduct your transactions. What's your point? |
Re: Tension as EFCC Seizes Dollars From Onitsha Traders by tiwiex(m): 9:11am On Sep 27, 2015 |
okeybarca:not reported I agree. So can you report and get away with it? Are there exemptions to seizures? My friend declared 40k dolls on entry to the US and he was allowed in. So b4 we start screaming universal, I think it is to control illegal and dangerous behaviours. I am not sure trading is one. These actions have far reaching impacts. The international community will soon start screaming. International business will suffer. 1 Like |
Re: Tension as EFCC Seizes Dollars From Onitsha Traders by erico2k2(m): 9:15am On Sep 27, 2015 |
HungerBAD:Plz stop chatting about stuff you just heard and never verify, there is nothing as such, what you it says is YOU DO NOT NEED TO DECLARE ANYTHING LESS THAN $10000 BUT ANYTHING TO THAT VALUE MUST BE DECLARED.In thismodern day how are they meant to transfer $100000 to china?? |
Re: Tension as EFCC Seizes Dollars From Onitsha Traders by funkiebully: 9:15am On Sep 27, 2015 |
petikal: Convert dollar to naira or what? Do they transact in naira? |
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