Hmmm, patiently waiting

This is actually economic sabotage!

900m naira worth old notes removed from circulation and replaced with 900m naira new notes. Now this 900m is stolen and put into circulation increasing the supply of the naira...

economist please come and explain the significance

You are a smart guy,did you ever work in a bank. CMU in particular?

Shoodboi:
This is a very common crime among CBN staff.

They collude with bank officials to swap torn, mutilated and bad money penciled for destruction with paper.

The paper is later destroyed in place of the bad currencies while CBN replaces the bad currencies with new ones.

Nigeria loses massively through this fraud.

In this case, the 900 million that is supposed to be destroyed is returned to circulation.

At the same time, CBN would have given Zenith bank another 900 million.

So, we now have 1.8 billion in circulation instead of 900 million.

That is corporate money doubling

Such act causes inflation, which worsens when the CBN and bank staff re-swaps the bad notes for paper.

Only heaven knows since when they have been swapping this.

I wonder why EFCC will continue to cook up stories about this issue since 2015.The CBN Staffs in question has been in prison custody since 2015 without bail/release.I wonder why they will bring up news like this so that we Nigerian s can believe they are working.Non-sense

GEEBITE:
You are a smart guy,did you ever work in a bank. CMU in particular?

No I didn't.

I once read about the currency swapping of a thing. The same happens when people make fake money.

The opposite happens when people burn/destroy money.

My Nigeria Nigeria is a home of scam

I Will Be Surprised If The Boxes And Money Therein are complete




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Source https://www.google.com/amp/s/punchng.com/court-orders-efcc-to-produce-106-boxes-containing-stolen-money/amp/

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AerialMapper:
This is actually economic sabotage!

900m naira worth old notes removed from circulation and replaced with 900m naira new notes. Now this 900m is stolen and put into circulation increasing the supply of the naira...

economist please come and explain the significance

It leads to low Purchasing Power of the Nigerian Naira, which subsequently leads to inflation, which can lead to hyperinflation, which can lead to recession, which can lead to economic depression, which will most certainly lead to increased poverty and death of a large percentage of the masses, which will lead to a national tantrum, and lead to a revolution, and then lead to ...

Money wey don enter voice mail.
They've shared the money amongst themselves....
Osinbanjo comes to mind with 90 billion loot..

This country is filled with scammers and evildoers. Efcc officials would be quick to arrest and prosecute yahoo boys, yet they are immersed into the same corruption. I am pained and tired of these evil people in government. They should pioneer the change before expecting masses to follow suit. Imagine the case of old fool lecturer sexually harassing students. Why do we have old fools in this country?

The other time we heard some soldiers ran away with Million's of Naira
Now is EFCC

I begin to wonder, who did we offend in this country

Shoodboi:
This is a very common crime among CBN staff.

They collude with bank officials to swap torn, mutilated and bad money penciled for destruction with paper.

The paper is later destroyed in place of the bad currencies while CBN replaces the bad currencies with new ones.

Nigeria loses massively through this fraud.

In this case, the 900 million that is supposed to be destroyed is returned to circulation.

At the same time, CBN would have given Zenith bank another 900 million.

So, we now have 1.8 billion in circulation instead of 900 million.

That is corporate money doubling

Such act causes inflation, which worsens when the CBN and bank staff re-swaps the bad notes for paper.

Only heaven knows since when they have been swapping this.

This is not a new practice among CBN staff. In fact i know of a staff that periodically brings home large chunks of mutilated notes for fixing. This is why we still find very old monies in circulation.

Court just ordered EFCC to produce the evidence to the court for examination and some dullards are here crying foul. What is the fuss about?

This country get money sha if only our governments are not selfish this country would have been like USA.

The Senate should ask EFCC to account for recovered loot. There should be checks and balances in all government agencies otherwise it will just be a case of a thief stealing from another thief.