overall90:
EFCC and this APC government is very useless.
they just want to use this guys to shine.
i just learnt that Bankers warehouse is registered entity that most banks use to move money by air as against using bullion vans.
now they have revealed these guys faces there by exposing them to kidnappers.i hope this guys sue their ass.

Auxtin85:


Oga lecturer, even if he has immunity is that why nobody is talking about it? Yet he belong to the party that claim they have zero tolerance for corruption

Hedonini:


Have you endeavoured to educate yourself? If yes, then answer this...

Is carrying out cash transactions over a certain limit the same thing as HAVING CASH over a certain limit? Does any law prescribe a limit to the amount of cash you can HOLD? So if you see Davido with N100m in cash, will you arrest him, and if not, why not?

Is there anything in this report that suggests that these two gentlemen were carrying out a TRANSACTION? They were simply seen with cash. Now, for this to be money laundering, then it has to be established that the money was illegally acquired. The mere fact of holding that amount of cash isn't money laundering in itself!

So what exactly will the EFCC charge them to court for? Money laundering? How? You see how useless and incompetent our law enforcement agencies are? Wasting tax payers money on stupid cases.

ItsMeAboki:
You open airport them and they immediately start abusing it.
All that money should be forfeited and the bank appropriately sanctioned.

duni04:

Bros i suggest you Google our anti money laundering laws before you embarrass yourself further.
If you are caught or apprehended with money above a certain limit - Irrespective of the purpose of that money, for transactions or celebrations, whatever! You are in breach of the anti money laundering laws and you can be apprehended and prosecuted.

overall90:


stop basking in ignorance and get yourself enlightened.
for a case to be qualified as money laundering anywhere in the world,they cash have to be proven to be illegally acquired.
we have a lot o CIT companies that help banks move money around all over the world,are you now saying they are all into money laundering because of the amount of cash involved.

duni04:

Don't embarrass yourself! Read!
MONEY LAUNDERING (PROHIBITION) ACT, 2011

An Act to repeal the Money Laundering (Prohibition) Act, 2004 and enact the Money Laundering (Prohibition) Act, 2011; and for related matters.



ENACTED by the National Assembly of the Federal Republic of Nigeria.



PART I – PROHIBITION OF MONEY LAUNDERING

Limitation to make or accept cash payment.

1. No person or body corporate shall, except in a transaction through a financial institution, make or accept cash payment of a sum exceeding –

(a) N5,000,000.00 or its equivalent, in the case of an individual; or

(b) N10,000,000.00 or its equivalent in the case of a body corporate.

duni04:

Don't embarrass yourself! Read!
MONEY LAUNDERING (PROHIBITION) ACT, 2011

An Act to repeal the Money Laundering (Prohibition) Act, 2004 and enact the Money Laundering (Prohibition) Act, 2011; and for related matters.



ENACTED by the National Assembly of the Federal Republic of Nigeria.



PART I – PROHIBITION OF MONEY LAUNDERING

Limitation to make or accept cash payment.

1. No person or body corporate shall, except in a transaction through a financial institution, make or accept cash payment of a sum exceeding –

(a) N5,000,000.00 or its equivalent, in the case of an individual; or

(b) N10,000,000.00 or its equivalent in the case of a body corporate.

warrior13:


When this news broke, I laughed at how quick we are with breaking news in this country. Quack journalism!
Many banks have outsourced cash movement to BW and even before then banks ALWAYS use flight for cash movement across geopolitical zones. How on earth do we want them to move this cash via road transport in this insane country. I have been involved in CIT operations and know how dangerous the job is and for this idiots to have exposed this guys to the public like is very unfortunate. Even the boxes are CIT boxes. The Security guys should have asked questions before inviting the press.

Meanwhile Vanguard has quickly pulled down the news after discovering the error in the report. Bankers Warehouse when sueing please include them because I saw it on their site before anywhere else.

BOOMnaija:
Pls can u remind me of their offence again?

Buhari and him dogs just dey fvck we corrupt people anyhow.

santopelele:
Just give me just 5mil naira, my life will never be the same.
BUT WAITOO! PLS SOMEBODY SHOULD EDUCATE ME, WHAT WILL HAPPEN TO THEM AND THE MONEY?

bizzibodi:

They have been wailing now d govt give them an airport they turn it to money laundering & hard drugs hub.

BOOMnaija:
Pls can u remind me of their offence again?

Buhari and him dogs just dey fvck this nation up anyhow.

AllenSpencer:

you cheap

IYANGBALI:
Igbo and monkey business

warrior13:


Chief compliance Officer weldone. But this is not a case of money laundering but gross ignorance on the part of the security guys. Bankers Warehouse is an aauthorized Cash in Transit company and has been moving cash for Banks for years. It is a legitimate business please.

duni04:

Bros i suggest you Google our anti money laundering laws before you embarrass yourself further.
If you are caught or apprehended with money above a certain limit - Irrespective of the purpose of that money, for transactions or celebrations, whatever! You are in breach of the anti money laundering laws and you can be apprehended and prosecuted.

Hedonini:


You're talking absolute nonsense young man.

Tell the average aboki or Igbo trader not to hold millions of Naira and USD, accumulated cash proceeds of his legitimate business. And tell him how the law you cited prohibits that.

Read my previous post, slowly. And then read the section of the Money Laundering (Prohibition) Act you cited, even slower, and then mark the difference between HOLDING cash beyond xyz and Making or receiving CASH PAYMENT beyond xyz....

If you can't grasp the critical contextual difference, then you're as dense as the EFCC that keeps arresting and prosecuting people with weak cases that can't secure convictions.

duni04:

Bros i suggest you Google our anti money laundering laws before you embarrass yourself further.
If you are caught or apprehended with money above a certain limit - Irrespective of the purpose of that money, for transactions or celebrations, whatever! You are in breach of the anti money laundering laws and you can be apprehended and prosecuted.

duni04:

Lol
I can't type anything again!
If upon all the copy and paste I've done for you, you can still type this then all I can say is sorry for you!

warrior13:


Bros, copy and paste is actually the problem we have in this country. There is no problem in copying but kindly paste it in context not releasing quack breaking news Upandan. Your money laundering lecture is not for this audience or rather this context so paste wisely. See how copy and paste security agents just expose this innocent fellows to bad boys. Vanguard sef follow do copy and paste but them don delete am sharp sharp.

I no wan copy and paste anything for you just read about CBN licensed CIT operators before you sef stop one of those Bulion van say na moneylaundering.

PurplePatch:
Cashless policy? Cash full politics.


These are Bullion vans in human form.

Hedonini:


Have you endeavoured to educate yourself? If yes, then answer this...

Is carrying out cash transactions over a certain limit the same thing as HAVING CASH over a certain limit? Does any law prescribe a limit to the amount of cash you can HOLD? So if you see Davido with N100m in cash, will you arrest him, and if not, why not?

Is there anything in this report that suggests that these two gentlemen were carrying out a TRANSACTION? They were simply seen with cash. Now, for this to be money laundering, then it has to be established that the money was illegally acquired. The mere fact of holding that amount of cash isn't money laundering in itself!

So what exactly will the EFCC charge them to court for? Money laundering? How? You see how useless and incompetent our law enforcement agencies are? Wasting tax payers money on stupid cases.

EmekaBlue:
Private too passes local check points.... just go by road with military excorts...Thats how its rolling


This money was urgently needed im sure thats y they used airline locally

duni04:

Two guys with $1.4M each in suitcases at the Airport are apprehended. They claim to be staff of a company that transports cash.
There is a procedure for transporting cash through any means oga. Even if it's by air, it is concealed as cargo and transported discretely. No bank or organisation will risk sending a billion naira using 2 people in suitcases! Where is it ever done except in movies?
Please endeavour to laud progress in this fight against corruption. Yes criticise but criticise with sense and factually! Dont assume because you have seen an American movie where one man was transporting millions of dollars in a suitcase means its the norm in real life.