lexy2014:
y would we want 2 limit peoples cash holding?what purpose will it serve?

Do you know that you can hardly see a hundred dollar bill with an American? They send most of them to developing economy like ours to gain relevance. Why must we carry lot of cash around? Is it to expose ourselves to robbers or to destroy our economy. I think any transaction in excess of N100,000.00 should be done online.

if the administration of Nigeria were to be in my hand like GOD, we will have all die so that our younger brother and sister will have a better tomorrow or enjoy better Nigeria. Nigeria will never be better country again until JESUS comes again. the rich are getting richer everyday while the poor get poorer and the middle class struggled to even feed their family. GOD BLESS THE POOR PEOPLE

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.

You and the 188 people who like your post are all ignorant of the law.

That whole money is as good as gone, siezed by EFCC.

Reason, MONEY LAUNDERING.

It is illegal to deal such amounts in cash outside the bankIng system.

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 want BDC operating, 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

Yes it is.

There are limits to cash transactions. This kind of transaction should be done in the banking window.

This one is money laundering.

mployer:
What is the crime here?

Can't somebody own 250m again?

You can, but cant have it in cash.

Fhowe:
how is that illegal abeg efcc and it's crappy investigations owning 500m is not an offence if there is no direct complainant if you are into good real estate business you can defend that money anywhere this is the last we would here of these money the other one that was stolen from a bdc in legico plaza which they claimed they discovered all I saw in their action was breaking into someone's office and stealing money found there I pray the bdc owner will sue their sorry asses and they also did not talk about the other monies their officers stole from there

So many ignorant Nlanders.

Read about money laundering.

ikp120:

I guess he wanted to deposit it into his domiciliary account

Funny enough, he cant deposit such cash into the bank, he will be arrested in the bank. Even deposits have limits. If withdrawal has limit deposit also has. If no one is allow to withdraw a certain amount in cash, no one should deposit that same amount in cash. Meaning no one should be caught with that amount in cash.

This cash is meant for hoarding.

The man wan put am for soak away.

Fmartin:
who is google?

Google has become their NEW GOD, and they forget that there was a Time when there was NO GOOGLE and there will also be a time when there will be NO GOOGLE, make we see the NEW GOD way them go call then. Prostitutes keep changing gods.

Google my balls.

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.

not every case efcc lose is the fault of judiciary.
R u saying we dont have credible billionaires or millionaires in nigeria again?

D way u dey reason God no go give u better money so that efcc no go look for u.

dallyemmy:
Do you know that you can hardly see a hundred dollar bill with an American? They send most of them to developing economy like ours to gain relevance. Why must we carry lot of cash around? Is it to expose ourselves to robbers or to destroy our economy. I think any transaction in excess of N100,000.00 should be done online.

d way western nations manage their currency issues is great but I don't think it will b productive 2 just make laws limiting peoples cash holding just cos Americans don't hold cash.societies evolve and as they do so they create ways of making life better 4 themselves. creating infrastructure first that will support change and not putting d cart b4 d horse just because Americans are doing it

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 want BDC operating, 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

the government official in BDC business is using their contact to remove competition... take it to d banks

adanny01:


You can, but cant have it in cash.

Why can't I have it in cash? Is it a must I use the bank?

mployer:


Why can't I have it in cash? Is it a must I use the bank?

As a matter of fact you must use the bank.

Have you watched mafia or cartel movies before. They cant make their money legitimate by depositing in banks.

No country allows huge cash movements privately.

obyrich:
It's too early to bring it to the media. Complete investigation. Gather facts before coming to an media. The same corrupt judiciary jailed Tafa Balogun and other high profile looters in the past.

What's the media got to do with facts presented before corrupt judges?

Are the corrupt judges dismissing credible cases because of the media?

You have evidence presented before you stating where the money came from, who lodge the money into bank accounts and in whose bank accounts coupled with the fact that he accused can not and didn't even offer any credible explanation per where they got the money from, but you still managed to dismiss the evidence and the whole case based on fishy technicalities that has nothing to do with the case.

The judges we have today are not the same brand and cut like the ones back then.

I dont believe the story.

Money Laundering

... But Nigerians are ignorant sha!

See people shouting "you must use the bank", shoo!

When did illiteracy levels get so high in this country?

Even ordinary oceans eleven should tell you that some establishments can have huge amounts of raw cash.

People are now saying the burden of proof rests on the accused, but how?

There is no evidence as of now of any illegality, so the burden of proof of any perceived crime should rest on the accuser, the EFCC in this case.

More importantly, why do people think you must use banks? Okay, if you say you must use banks, then show me the law that states the cash limit one must stick to.

If you can't, then it means the EFCC must also come for you, with that N200 in your pocket, cause why are you holding cash? You could have used your card.

I just don't get the citizens of this country sometimes. We can't progress if illiteracy remains this h
igh.

Fmartin:
who is google?

Your friend