eaglechild:

Your last statement doesn't add up.

Are you trying to say that one has to declare the content on his debit card when he is travelling or do you not realise that a single debit card can be tied to an account worth millions
What then is the need for the withdrawal limit pegged on these cards if one has to declare them.

omonnakoda:


If the law iin a particular jurisdiction requires that then yes. I do not know if that is the case specifically in Nigeria.

Prepaid cards are not tied to any account educate yourself.
You can buy them at the Post Office in he UK e.g and LOAD money onto them whilst getting all the functionality that goes with a VISA debit card WITHOUT A BANK ACCOUNT that is what prepaid means and so they are a favourite of criminals. It is normal for government to want to control this. Now customs officials can scan them to see how much is on them in the US e.g

Some Nigeria VISA cards are "PREPAID" and do not have the same functionality as DEBIT cards from some other countries which have no restrictions subject to the money being in the account

eaglechild:

Please don't evade the obvious facts.

They were caught with ATM (DEBIT) cards.
Which are by the way a form of prepaid cards unlike credit cards.
They are Nigerian cards and have the same functionality.

You are outsmarting yourself not me.

Once again I will ask you - do you need to declare the contents of your prepaid debit card which is the specific card they were caught with?

Nevermind the answer is NO!

omonnakoda:
All cards are called ATM cards in Nigeria . At any rate the issue was the number of the cards and the fact that the cards bore more than one identity and the story mentions an attempt at concealment.

I do not know if they need to declare in Nigeria but you say they do not and I asked how do you know this ? NO ANSWER
In America you do I supplied a link for that several posts ago.
. I am not making as much of the declaration as you seem to because I do no say what I do not know
They were arrested so let us wait for the court to rule.
Did I arrest them? Surely when they go to court we will hear the Nigerian laws and regulations that relate to such activity


NOW

Giade said that the suspects conspired with others to evade scrutiny from government agencies by opening various bank accounts with the aim of using the debit cards for daily withdrawals abroad.

Clearly he believes that is a crime so let us wait for the courts to rule whether conspiring to evade scrutiny with the aim of

using the debit cards for daily withdrawals abroad is prohibited and criminal

ladyF:
Hian!!!! Fear God!!!

divinehand2003:
Corruption is assuming very incredible forms. Man must get rich by all means or die trying. But what shall it profit the man even if he gains the whole world but suffers in kirikiri prison?

tunde1200:
Nweke Pauline Osita, 40 years old and Egesiokwu Frank Chukwudi, 41 years old were arrested at the weekend with ATM cards of different banks.

ALWAYS THEM!

tunde1200:
Nweke Pauline Osita, 40 years old and Egesiokwu Frank Chukwudi, 41 years old were arrested at the weekend with ATM cards of different banks.

ALWAYS THEM!

prophetfire:
This forum is full of ignorant dunces.y do dey do it? The govt's present policy on foriegn currency transactions is destroying their biz and the govt dnt give a damn. The amount they re allowed to transfer is too meager for them, so they use many accounts like these ones to keep biz on. Its circumveting the system quite alright but buhari's govt seem not to have space for struggling small scale importers.

ifyalways:
No, I don't think this is money laundering.

The government is frustrating genuine business men and making them look like criminals with some of their money transfer/ CBN limitations, honestly.

hyfr:
hope you didn't forget: recently an igbo girl won MBGN queen right? An igbo girl was also the former queen right? An igbo girl bagged highest degrees from uniben medical department right? Igbo guys built a mini bus at unizik right? OGA SWERVE >>>>>>>>>

badnature:
this idiots called omonnankoda or what ever he called himself,illiteracy and hatred for igbo people has reduced his ability to read and understand.all what he does is to post things based on assumptions instead of fact

nicerichard05:



You Be fooll.

#NoToTribalism

badnature:
My mother is an idiot. Idiocy will kill her and she will die blind and swollen like a rotten pig in an open field

mployer:


There Is nothing more to It. They are going for legal business.


CBN allows only $300 withdrawal per Card per Day. If You have five cards from différent Banks, You Can cash $1500 per Day, $3000 in two days.

eaglechild:

All I wanted to point out is that one is not required by law to declare the content of one's debit card in Nigeria as you previously stated.

omonnakoda:


If the law iin a particular jurisdiction requires that then yes. I do not know if that is the case specifically in Nigeria.

omonnakoda:

Answers do not need to be biographical. The range of human activities is infinite and so you cannot have laws banning things in detail for every activity . Rather laws tend to be general in their wording and sometimes laws have to be tested in courts That is the nature of jurisprudence . In this case without detailed knowledge of the particulars one's comments can be generic only. The issue is not just the possession of the cards but the intent for their possession

The alleged offence here is in Nigeria so your odysseys into Heathrow are interesting but are not really helpful in understanding the issues here. This is not a matter of airport rules but whether the intent was to subvert extant currency regulations and whether full disclosures were made. We shall have to wait for the courts to pronounce ,since he has been arrested. It is the case that guilt has to be proven for EVERY alleged offence so nothing special in this instance. What seems certain is any person travelling through a Nigerian airport with cards not bearing their name can expect to be arrested and hopefully then can provide a satisfactory defence/explanation
This is quite common. Another crucial question is whether the status of the card is Prepaid which I believe many Nigerian VISA cards . IF That is the case then they are treated as similar to Travellers Cheques ie Monetary instruments and declarable.

Lilimax:
We have so many kids on Nairaland lately; the reason why most of their comments are ridiculous

Demmocrats:
What if at the end there story checks out.

What if at the end the traders gave them those ATM to help them buy stuffs in China.


Have any of you guys done wire transfer from one bank to another and know the percentage you pay those banks.

Those traders might want to bypass that but it would have been better if they all transferred there money in one account with one ATM assigned to the account.