tot:
Illiterate uncle defending a man whose kids have had the best of education. Odensin.

He is a born slave

tot:


Boring...same ole same ole.

Anyway, Nigerians deserve the leaders they get. You will spend your entire life defending your oppressors. Unku ode no sense.

Only a F.O.O.L defends a Nigerian politician and that is exactly what you are.

100

iammo:
ok, let me bet my left testicle.. your tribe hasnt produced a president in the past 5 decades.. your desperation and DUnce like envy casted you


Ibo leave us alone, no be tinubu or yoruba hold your destiny

so with the sorry state of Nigeria, a tribe producing a president is a bragging right? You are even less smart than i thought. Do you have 24 hour light? Access to healthcare? Safe environment? Good life expectancy? World standard educational facilities (with your terrible English, don't bother answering this one)?

abbiboy:

So he made all this money from mobil,is mobil also in personal biznes just asking?
Otondo!!

He was not even a Director of Mobil, but a controller. How much is the salary of a Controller in Mobil sef? Even CEO of Mobil worldwide does not own a a $35 million dollar private jet.

thotzilla abeg leave us na, shuo!! why ibos like wail untop yoruba matter like this... you cross river niger just to wail.. in case you may be too dull to know.. poverty least per state has sokoto and adamawa drawing us back, unemployment got ebonyi and sokoto drawing us back, poorest IGR per region got SouthEast and NorthEast drawing us back(economic almajiri) every negative index has northeast and south east competing for first and second... most of GENCOs are in southsotth southwest while others suck energy, southwest has highest contribution to non oil revenue and has highest functional ports while ibos come to prosper in our land and still make mouth

tot:


so with the sorry state of Nigeria, a tribe producing a president is a bragging right? You are even less smart than i t souught. Do you have 24 hour light? Access to healthcare? Good life expectancy? World standard educational facilities (with your terrible English, don't bother answering this one)?

[quote author=djdutch post=83511364][/quote]

That is what I have been seeing on this thread ooo. All manners of nonsense!

iammo:
thotzilla abeg leave us na, shuo!! why ibos like wail untop yoruba matter like this... you cross river niger just to wail.. in case you may be too dull to know.. poverty least per state has sokoto and adamawa drawing us back, unemployment got ebonyi and sokoto drawing us back, poorest IGR per region got SouthEast and NorthEast drawing us back(economic almajiri) every negative index has northeast and south east competing for first and second... most of GENCOs are in southsotth southwest while others suck energy, southwest has highest contribution to non oil revenue and has highest functional ports while ibos come to prosper in our land and still make mouth

Dude is hyperventilating at this stage

Ibos have being conquered after we humiliated ojukwu... kiss the truth and respect your new masters

tot:


Dude is hyperventilating at this stage

we taunted your ancestors, we wont spare your next generation...

tot:


Dude is hyperventilating at this stage

iammo:
Ibos have being conquered after we humiliated ojukwu... kiss the truth and respect your new masters

Pele. It is well with your soul Lmaoooo

yes right.. it is well, but your son would ask you why ibos where rejected in aso rock.. hope you give an eloquent answer

tot:


Pele. It is well with your soul Lmaoooo

iammo:
yes right.. it is well, but your son would ask you why ibos where rejected in aso rock.. hope you give an eloquent answer

Repeat after me: were

repeat after me IBOS HAVE BEING REJECTED IN ASO ROCK, INDIA , GHANA, ASIA, SOUTH AFRICA, VIETNAM

tot:


Repeat after me: were

iammo:
repeat after me IBOS HAVE BEING REJECTED IN ASO ROCK, INDIA , GHANA, ASIA, SOUTH AFRICA, VIETNAM

It is BEEN not being.

Oh dear, you can't make a single correct sentence, and you are defending a Nigerian politician? Kai!

This is his 6th failed attempt at expressing himself. Let me pity this guy and let him be tonight. Pele ooooo.

Ibos cant make a political decission also
Mrs rejected english teacher

tot:


It is BEEN not being.

Oh dear, you can't make a single correct sentence, and you are defending a Nigerian politician? Kai!

tot:
This is his 6th failed attempt at expressing hinself. Let me pity this guy and let him be tonight. Pele ooooo.

Take it easy on him please.

djdutch:

Take it easy on him please.

I've decided to leave him actually. I don't want to read a thread tomorrow about someone taking sniper. Would feel bad.

why dont you get a room and continue the english romance... i hope you have pillow talks on why 4th Generation of Ibos cant produce a president

yorubas have a country to run

tot:


I've decided to leave him actually. I don't want to read a thread tomorrow about someone taking sniper. Would feel bad.

Ndi marginalisation... your mates they marginalise you shame!!

Ndi rejected... no one supports you, even Akwa ibom, ijaw(asari) denouced you shame!!!

Ndi... minority leaders... the federal house rejected you(Urhobo now seats on the DSP throne) shame!!!

reminisce on that bay girl

tot:


Pele. It is well with your soul Lmaoooo

iammo:
lol qoute the section of the constituition stop giving ipobian alternate facts

abi you need data for common goggle search

Stop behaving like a Yoruba Moslem.

https://lawpadi.com/8-things-the-average-nigerian-should-know-about-the-money-laundering-act-2011/

iammo:
Ndi marginalisation... your mates they marginalise you shame!!

Ndi rejected... no one supports you, even Akwa ibom, ijaw(asari) denouced you shame!!!

Ndi... minority leaders... the federal house rejected you(Urhobo now seats on the DSP throne) shame!!!

reminisce on that bay girl

Yoruba Moslems will never disappoint

Ibo boy, why not show us what law Tinubu violated

abi you sef can read simple english

The Money Laundering Act 2011
In the last few months, the Nigerian Government has put a massive focus on the anti-corruption fight, and the Money Laundering (Prohibition) Act 2011 (and the amendment to the Act in 2012) is a big part of this fight.

We at LawPàdí decided to create this short informational post to list a few aspects of the law, which concerns the average Nigerian carrying out his/her daily duties. This post is obviously not meant to be a comprehensive review of the Money Laundering (Prohibition) Act 2011 (and the amendment to the Act in 2012), and in fact, we intentionally do not cover the aspects that are more relevant to financial institutions and designated non-financial institutions. This quick review was created specifically for the average Nigerian.



1. What is Money Laundering?
Money laundering according to the Act is when any person in or outside Nigeria directly or indirectly conceals or disguises the origin of; converts or transfers; removes from the jurisdiction; acquires, uses, retains or takes possession or control of; any fund or property, knowingly or which he/she should reasonably have known that such fund or property is, or forms part of the proceeds of an unlawful act.

‘Unlawful act’ includes – participation in an organized criminal group, racketeering, terrorism, terrorist financing, trafficking in persons, smuggling of migrants, sexual exploitation, sexual exploitation of children, illicit trafficking in narcotic drugs and psychotropic substances, illicit arms trafficking, illicit trafficking in stolen goods, corruption, bribery, fraud, currency counterfeiting, counterfeiting and piracy of products, environmental crimes, murder, grievous bodily injury, kidnapping, hostage taking, robbery or theft, smuggling (including in relation to customs and excise duties and taxes), tax crimes (related to direct taxes and indirect taxes), taxes crimes (related to direct taxes and indirect taxes) extortion, forgery, piracy, insider trading and market manipulation or any other criminal act



2. Cap on Cash Transactions
The Money Laundering (Prohibition) Act 2011 makes it illegal for any individual to accept or make any cash payment that exceeds N5m (Five Million Naira). This means that every cash transaction over N5m must be done via a financial institution.

Any person found guilty of contravening this is liable to imprisonment for a term of not less than 3 years or a fine of N10m (Ten Million Naira) or to both.



3. Declaration when transporting cash overseas
The Money Laundering (Prohibition) Act 2011 states that any individual, who is transporting cash or negotiable instruments in excess of US$10,000, or its equivalent must be declared to the Nigerian Customs Service.

Non-declaration of the funds or false declaration is an offence that is punished upon conviction by the individual forfeiting the funds in question, or to imprisonment of not less than 2 years or to both.



4. Gambling in a Casino
If you gamble in casinos in Nigeria, then you should be aware that the Money Laundering (Prohibition) Act 2011 provides that a casino must verify the identity of its customers and record all transactions, including the nature and amount involved in each transaction, and this information shall be kept in a register and preserved for a period of at least 5 years after the last transaction recorded in the register.

Therefore the information about people who gamble in casinos is mandated by law to be kept for 5 years.



5. Data Retention by Financial Institutions and Designated Non-Financial Institutions
The Act provides that the above institutions shall keep a record of a customer’s identification for a period of at least 5 years after the closure of the account or the severance of relations with the customer.

This therefore means that irrespective of the fact that you have closed your account or dealings with the above institutions, they are still obliged by law to keep a record of your details.



6. Obligation to report to the Economic and Financial Crimes Commission (EFCC)
The Act provides that financial institutions and designated non-financial institutions are obliged to report to the EFCC any single transaction, lodgement or transfer of funds in excess of N5m (Five Million Naira) within 7 days.

Therefore individuals should be aware that if they make such transactions, such transactions would be liable to be monitored by the EFCC.



7. Numbered or Anonymous Accounts
The Money Laundering (Prohibition) Act 2011 makes it illegal to open or maintain a numbered or anonymous account in Nigeria. A numbered bank account is a type of bank account where the name of the account holder is kept secret, and they identify themselves to the bank by means of a code word known only by the account holder and a restricted number of bank employees, thus providing accountholders with anonymity in their financial transactions.

The offence is liable on conviction to a term of not less than 7 years but not more than 14 years imprisonment.



8. Money Laundering ‘Agent’, Conspirators, and Accessories
The Act makes it illegal for individuals to carry out money laundering activities on behalf of another person, when he/she knows or suspects that the other person is engaged in or has benefited from criminal conduct, and such an act is liable on conviction to imprisonment for a term not less than 5 years or to a fine equivalent to 5 times the value of the proceeds of the criminal conduct or both such imprisonment and fine.

The Money Laundering (Prohibition) Act further makes it a crime to conspire, aid, abet, incite, procure, induce or counsel any other person to commit a Money Laundering offence, commits an offence and is liable on conviction to the same punishment as is prescribed for that offence under this Act.

If you would like to read more about the laws, you can review them here:

IamAtikulate:

Stop behaving like a Yoruba Moslem.

https://lawpadi.com/8-things-the-average-nigerian-should-know-about-the-money-laundering-act-2011/

what exactly did Tinubu do to contradict th law madam hater


The Money Laundering Act 2011
In the last few months, the Nigerian Government has put a massive focus on the anti-corruption fight, and the Money Laundering (Prohibition) Act 2011 (and the amendment to the Act in 2012) is a big part of this fight.

We at LawPàdí decided to create this short informational post to list a few aspects of the law, which concerns the average Nigerian carrying out his/her daily duties. This post is obviously not meant to be a comprehensive review of the Money Laundering (Prohibition) Act 2011 (and the amendment to the Act in 2012), and in fact, we intentionally do not cover the aspects that are more relevant to financial institutions and designated non-financial institutions. This quick review was created specifically for the average Nigerian.



1. What is Money Laundering?
Money laundering according to the Act is when any person in or outside Nigeria directly or indirectly conceals or disguises the origin of; converts or transfers; removes from the jurisdiction; acquires, uses, retains or takes possession or control of; any fund or property, knowingly or which he/she should reasonably have known that such fund or property is, or forms part of the proceeds of an unlawful act.

‘Unlawful act’ includes – participation in an organized criminal group, racketeering, terrorism, terrorist financing, trafficking in persons, smuggling of migrants, sexual exploitation, sexual exploitation of children, illicit trafficking in narcotic drugs and psychotropic substances, illicit arms trafficking, illicit trafficking in stolen goods, corruption, bribery, fraud, currency counterfeiting, counterfeiting and piracy of products, environmental crimes, murder, grievous bodily injury, kidnapping, hostage taking, robbery or theft, smuggling (including in relation to customs and excise duties and taxes), tax crimes (related to direct taxes and indirect taxes), taxes crimes (related to direct taxes and indirect taxes) extortion, forgery, piracy, insider trading and market manipulation or any other criminal act



2. Cap on Cash Transactions
The Money Laundering (Prohibition) Act 2011 makes it illegal for any individual to accept or make any cash payment that exceeds N5m (Five Million Naira). This means that every cash transaction over N5m must be done via a financial institution.

Any person found guilty of contravening this is liable to imprisonment for a term of not less than 3 years or a fine of N10m (Ten Million Naira) or to both.



3. Declaration when transporting cash overseas
The Money Laundering (Prohibition) Act 2011 states that any individual, who is transporting cash or negotiable instruments in excess of US$10,000, or its equivalent must be declared to the Nigerian Customs Service.

Non-declaration of the funds or false declaration is an offence that is punished upon conviction by the individual forfeiting the funds in question, or to imprisonment of not less than 2 years or to both.



4. Gambling in a Casino
If you gamble in casinos in Nigeria, then you should be aware that the Money Laundering (Prohibition) Act 2011 provides that a casino must verify the identity of its customers and record all transactions, including the nature and amount involved in each transaction, and this information shall be kept in a register and preserved for a period of at least 5 years after the last transaction recorded in the register.

Therefore the information about people who gamble in casinos is mandated by law to be kept for 5 years.



5. Data Retention by Financial Institutions and Designated Non-Financial Institutions
The Act provides that the above institutions shall keep a record of a customer’s identification for a period of at least 5 years after the closure of the account or the severance of relations with the customer.

This therefore means that irrespective of the fact that you have closed your account or dealings with the above institutions, they are still obliged by law to keep a record of your details.



6. Obligation to report to the Economic and Financial Crimes Commission (EFCC)
The Act provides that financial institutions and designated non-financial institutions are obliged to report to the EFCC any single transaction, lodgement or transfer of funds in excess of N5m (Five Million Naira) within 7 days.

Therefore individuals should be aware that if they make such transactions, such transactions would be liable to be monitored by the EFCC.



7. Numbered or Anonymous Accounts
The Money Laundering (Prohibition) Act 2011 makes it illegal to open or maintain a numbered or anonymous account in Nigeria. A numbered bank account is a type of bank account where the name of the account holder is kept secret, and they identify themselves to the bank by means of a code word known only by the account holder and a restricted number of bank employees, thus providing accountholders with anonymity in their financial transactions.

The offence is liable on conviction to a term of not less than 7 years but not more than 14 years imprisonment.



8. Money Laundering ‘Agent’, Conspirators, and Accessories
The Act makes it illegal for individuals to carry out money laundering activities on behalf of another person, when he/she knows or suspects that the other person is engaged in or has benefited from criminal conduct, and such an act is liable on conviction to imprisonment for a term not less than 5 years or to a fine equivalent to 5 times the value of the proceeds of the criminal conduct or both such imprisonment and fine.

The Money Laundering (Prohibition) Act further makes it a crime to conspire, aid, abet, incite, procure, induce or counsel any other person to commit a Money Laundering offence, commits an offence and is liable on conviction to the same punishment as is prescribed for that offence under this Act.

If you would like to read more about the laws, you can review them here:

tot:


It is BEEN not being.

Oh dear, you can't make a single correct sentence, and you are defending a Nigerian politician? Kai!

iammo:

I am not here to argue with you. Our money laundering prohibition law says that any private individual doing any transaction in excess of 5 million must do that through cashless means.

Two bullion vans don't carry 5 million.

Moving over 5 million in cash is money laundering.

I didn't know it was a crime to use bullion vans,now I know.
Stupid people.