eezeribe:
See money dey waste.if na me see that kind money,I go just by Geepee tank,burry am inside.
To hell with whistle blowing policy as long as our political office holders are still having a field day with our national treasure.

Who do you think owns the money,a pure water seller or a politician?

NextGovernor:
They will not garner enough investigation and evidence now before taking it to the media. Later they will loose in court again..

One thing is to catch a thief.
Another thing is to have concrete evidence that he stole.

Everybody wants this country to be a better place but can't happen the way this government is handling issues.

Very stupid move,every and anybody with dollar and naira is a looter? When wld dis lunatics get a brain.

Cash. ....Fiat and ...

.Anyway ....
We BUY and SELL skrill,neteller,paypal (fiverr,upwork,iwriter,freelancer,etc),bitcoin and payoneer at good rate.....come to us now Mobile/Whatsapp. ...08088759163.

This Magu is really becoming a thorn in the flesh of the yam eaters ... Whether they hide it at Airport,seaport or Market-port,Magu's eagle eye will search it out ..PMB will surely succeed in recovering the loots .

NextGovernor:
They will not garner enough investigation and evidence now before taking it to the media. Later they will loose in court again..

One thing is to catch a thief.
Another thing is to have concrete evidence that he stole.

Everybody wants this country to be a better place but can't happen the way this government is handling issues.

No proof is needed.... Whether it's from a genuine source or not.... Money laundering is an offence. Punishable by seizing n prosecution

adetayo234:


Can you show me evidence that the owner looted the money?

When we get to court..

eezeribe:
See money dey waste.if na me see that kind money,I go just by Geepee tank,burry am inside.
To hell with whistle blowing policy as long as our political office holders are still having a field day with our national treasure.

Na greed catch the person wey get that money. They wanted to change the currency to pounds and euro just so they can change it back to naira after the exchange rates worsens.

deomello:



It doesn't matter what evidence you have, you have no case before the corrupt Nigerian judiciary.

Stop blaming the efcc for the Nigerian crooked and corrupt judiciary.

Or rather stop blaming the judiciary for the incompetence of EFCC.

EFCC are only interested in optics rather than actual investigation and prosecution work.

Garrithe1st:


When we get to court..

I hope you won't lose again this time around

Pure waste of time.The monies will be refunded to the owners and if care is not taken, the referees blowing whistle upandan may end up in jail.
No be yeye EFCC with their zero brain when it comes to packaging a water tight case ??

blow whislte and have 20 percent of the loot recovered. #fastest way to tackle corruption#

drake2000x:
I don't understand....is it against the law for BDC to change that kind of money? Then what's the purpose of BDC if they keep arresting people changing money with them? If you don't BDC, a legal financial institution by the way, then abrogate the institution to stop all these nonsense. Personally I think they are responsible for the dollar scarcity...via hoarding

Nigeria is far from being a zoo where animals behave in a practiced, regimented , orderly fashion.

Nigeria is one giant lunacy bin where everything is upside down and where nothing Ever makes sense.

Why is there a war against money in this country ?
If you put your money in the bank, the EFCC will tell the whole world how much you have , and then freeze it indefinitely , while trying to determine or rope you in on one crime or another.

If you keep your money safely in your house, then the same EFCC, not armed robbers, would break into your house or business in the middle of the night to grab it, and then try to frame you into one crime or another.

I have never seen Nigeria this lawless and the government so confused and schizophrenic in my entire life.

Foreign investors are fleeing, .and who can blame them ?
Soon, even local investors who have the means will move their capital out of this lunatic bin and the schizophrenic government that runs it.

NextGovernor:
They will not garner enough investigation and evidence now before taking it to the media. Later they will loose in court again..

One thing is to catch a thief.
Another thing is to have concrete evidence that he stole.

Everybody wants this country to be a better place but can't happen the way this government is handling issues.

And how did previous governments handled it

Please let's be appreciative and supportive.

macaranta:

Money laundering happens mostly when people move huge amounts of raw cash outside the financial institutions sometimes with intent to embezzle or fund illegal activities.
My point is they should investigate before bringing it to the Media, I feel all these activities without any real substance is just to keep people occupied with fantasies already in their heads. Like catching all the corrupt people.. Its what we all want to see or hear so they serve it to us.. Albeit half-done.

Guilty until proven guilty about? Correct.
Tell the police to stop parading criminals and kidnappers until investigations are completed.
What evidence again do you need to prosecute money laundering. Media or no media, a good case will always be won.
I hope EFCC has learnt alot from the cases it lost. Mind you they were never lost due to 'mesia show' but majorly on technical grounds.

engineerboat:



What EFCC is doing is e wa woran hoooo.

No wonder they keep loosing case. Because they only depend on media trial and not painstaking investigations

Please stop.
How many cases has EFCC lost sef compared to the ones they have won?

People should be allowed to carry out legitimate transactions without fear of the crooked EFCC. . . last time I checked there was no embargo yet on cash transactions - only outrageously punitive charges have been applied by our shortsighted & equally crooked CBN/federal government.

You can expect the EFCC to agressively intimidate those mallams in the hope that they will be scared to come forward to claim their funds Plus the greedy guys in red-jackets probably stole some of that cash already

drake2000x:
I don't understand....is it against the law for BDC to change that kind of money? Then what's the purpose of BDC if they keep arresting people changing money with them? If you don't BDC, a legal financial institution by the way, then abrogate the institution to stop all these nonsense. Personally I think they are responsible for the dollar scarcity...via hoarding

To answer your question:

It is not illegal but suspicious for BDC to be handling such a large amount of cash in one transaction.

The onus is on the owner to prove that the fund was not acquired illegally. If he/she can prove it, the haul will be released to him/her. The same applies to moving large amount of cash through airports of the world, the owner must declare any cash in excess of $10k.

Even UK her self can't find this amount of cash in their vaults.

macaranta:
Is it a crime to have money? Please if these monies are legitimate and the owners decide to bypass the banking system for whatever reason then this case of seeing huge sums of monies here and there is just plain dead on arrival.

MONEY laundering law.

jomoh:



If not for the corrupt judiciary, you need no evidence for this kind of case. The fact that you are moving this huge sum is an act of money laundry in itself(a separate case entirely). The source of the cash could now be a contentious subject.

Clearly u do not know what money laundering means

drake2000x:
I don't understand....is it against the law for BDC to change that kind of money? Then what's the purpose of BDC if they keep arresting people changing money with them? If you don't BDC, a legal financial institution by the way, then abrogate the institution to stop all these nonsense. Personally I think they are responsible for the dollar scarcity...via hoarding

With the current trend, having a large amount of money automatically translates to stealing. Some are already saying look at what one person stole.

A BDC having two hundred and fifty million in my opinion is not something of surprise.
Proper investigation should be done before bringing it to the media so it will not look like putting the cart before the horse, if not, reoccurring cases like this will do more harm to an already worse situation.
BDCs have a very close romance with hoarding, and this will force them to do it even more if care is not taking while trying to remove the weeds...

And then what? The report/post and the actual action reek of idiocy. Why not tell us THE SOURCE of the money and how the possessor of the money came about it?

Why should we sensationalise the mere inconsequential fact that money was found somewhere? Why these media trials and all the rubbish? Why not tell us how the owner of the money got the money (establish the ways and means) and how it constitutes corruption?

The news shouldn't be that money was found. The news should be that ABC did XYZ to illegally acquire so so money which we found in so so location!!!

drake2000x:
I don't understand....is it against the law for BDC to change that kind of money? Then what's the purpose of BDC if they keep arresting people changing money with them? If you don't BDC, a legal financial institution by the way, then abrogate the institution to stop all these nonsense. Personally I think they are responsible for the dollar scarcity...via hoarding

Yea it is.

BDCs are meant to service request below $10000./Thia requests are expected to be BTA or PTA with documentation of source and purpose.

Their establishment by act is useless to me

macaranta:

That's why I said legitimate, they should investigate properly and be at least 90 per cent sure of a conviction before the whole media charade.

legitimate money would pass through banks. The only situation you when you see lots of cash in physical form is when money is made from vices like corruption, drugs, bootlegging, e.t.c Nigeria is actually so bad that laundered money can even easily make it into banks.

NextGovernor:
They will not garner enough investigation and evidence now before taking it to the media. Later they will loose in court again..

One thing is to catch a thief.
Another thing is to have concrete evidence that he stole.

Everybody wants this country to be a better place but can't happen the way this government is handling issues.

matured comment,not that 4tc hungry man

slimfit1:
Even UK her self can't find this amount of cash in their vaults.

You would not find such amount of cash on an individual in any 1st or 2nd world country except the person is into ilegal deals.
Retail stores that deal with lots of cash in developed countries get the money moved to banks like every 2hrs.

My cousins mother in law, a big time trader at balogun market does same too. This is someone that Cadbury or sometimes Nestle release goods worth 50million to 100million naira to on credit despite the fact that she is an illiterate.. She cant afford to get robbed of her combined daily transactions. She moves her proceeds every 2-3 hours to banks too.

You can't just decide to 'bypass' the bank mate.Transactions above certain amount need to be reported to the CBN.

macaranta:
Is it a crime to have money? Please if these monies are legitimate and the owners decide to bypass the banking system for whatever reason then this case of seeing huge sums of monies here and there is just plain dead on arrival.

macaranta:
Is it a crime to have money? Please if these monies are legitimate and the owners decide to bypass the banking system for whatever reason then this case of seeing huge sums of monies here and there is just plain dead on arrival.

Have you heard if the term money laundering before? Please get more knowledge.

if I get dis kind money ehhhh

adorablepepple:
see what one person stole, aye ma nika o

It has not been proven that the money was stolen