7lives's Posts
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greggng:You served into their hands, I no dey withdraw money when my Aboki no dey around o. I would have invite the Aboki into the banking hall, he will be in the bank when I collect the money, as soon as I collect the money, I will collect the naira and deposit it into my naira account. So you don't know that some bankers are working with thieves?, just get a good money exchangers and let him wait while you collect your � simple. |
Mrbillionaire:This was how India came about their $550 billion reserve, Narenda Mordi is India's best prime minister ever. Every Indian abroad send their foreign earnings to India tax free and the reserve keeps growing fatter, of recent another 5 billion was added to their reserve. If you know how many Nigerians have lost their Dollars to those fraudulent online banks. Let them bring the money into Nigeria jor, oyinbo self na scammer, na dog eat dog ole gbe ole gba. |
northvietnam:This is what the policy was meant to achieve. Dollar hoarders will soon organize # bring back our bussiness #. This is what former finance Minister Anthony Ani was talking about. IfMONEY TRANSFER FRAUD!!!!! COLLUSION AMONG CBN,COMMERCIAL BANKS,WESTERN UNION,MONEYGRAM,ETC TO KILL THE NAIRA INSTALMENTALLY �!!! By Chief Anthony Ani,FCA,Former Minister Of Finance. "A MATTER OF NATIONAL EMERGENCY DEMANDING OUR DEAR PRESIDENT BUHARI'S URGENT ACTION! "RE: $BILLION DIASPORA REMITTANCES: WHERE ARE THE DOLLARS?" The above question was posed in an article in The PUNCH newspaper edition of September 9, 2019, by columnist Henry Boyo. I have been a daily reader of The PUNCH for the past 10 years and I have not yet, read any comments from anyone on this question. There is a need to discuss this issue, as it appears that there is massive foreign exchange laundering going on in our banks. As the architect of the Diaspora remittances in 1996, I am naturally concerned at the abuses disclosed by Boyo. When in 1995, we at the Ministry of Finance reviewed the country’s sources of foreign revenues, we found out that nothing was coming in from Nigerians in the Diaspora, whereas India and Jamaica were living on foreign exchange from their citizens abroad. When I enquired why Western Union and MoneyGram could not receive money from Nigerians abroad, I was told that it was due to our tax laws. As a Chartered Accountant student in 1962, I studied Comparative Commonwealth Taxation in Nigeria, Jamaica and the UK, and I found out that the tax laws of these countries had the same wordings on imposition of tax (“tax is imposed on income accruing in, derived from or brought into”). The question then to me was why income “brought into” India was not taxed in India? On enquiry, I found that India had modified its tax laws to accommodate its citizens living abroad who wanted to send money in foreign exchange to India. In 1996, I had proposed (and it was accepted by the Federal Executive Council) in a new law, regarding Nigerians repatriating remuneration from abroad, Nigerians repatriating dividends, royalties, fees, commissions from foreign countries receipts by authors, sportsmen/women, musicians, play writers, artist, etc. Such income repatriated into Nigeria in foreign currency was 100 per cent exempted from tax, provided the foreign currency was repatriated through a domiciliary account with a Nigerian bank! With the promulgation of this law, First Bank Nigeria Ltd brought in Western Union in August 1996 while the USA(UBA) brought in MoneyGram a few weeks later. In 1996, Nigerians abroad repatriated about $4.5bn (about 50 per cent of our gross revenue from oil) and we ensured that these amounts were brought into Nigeria, intact, in foreign exchange. The receipts increased exponentially in 1997 and 1998 and we also made sure that they were received in Nigeria, in foreign currency. The receipts helped to stabilise our exchange rate mechanism at N82 to a dollar, throughout my tenure as the Minister of Finance, to the extent that the naira was internally convertible currency. Some years ago, on my visit to London, I went to Western Union office, at Marble Arch, to test by remitting £500 to my son in Nigeria. I first had to convert the money to dollars and to my surprise, Western Union gave me a quote in naira to be claimed by my son. I refused their naira equivalent and insisted that my son must be paid in dollars. It was obvious to me that there was an arrangement between our Nigerian banks and Western Union/MoneyGram, whereby the former pays from their excess naira liquidity while the later retains the dollars abroad. In other words, the dollar remittance is retained abroad and is laundered by the Nigerian banks. This is definitely against the law which provide that all remittances must be brought into Nigeria in foreign currency via domiciliary account. If by chance, as in my case, the dollar is remitted into Nigeria, the Central Bank of Nigeria on August 14, 2014, introduced the Outward Money Transfer Service and authorised the same MoneyGram and Western Union to re-export, in tranches of $5,000 per transaction, to Nigerians abroad, on payment of the naira equivalent at the CBN rate of exchange. Thus, Nigeria is the only country in the world re-exporting its remittances. It is relevant to note that the naira is not a convertible currency but remittances which are meant to stabilise our exchange rates are re-exported! There is something wrong at our Central Bank. It could be that we have imported the mentality of commercial banking into the CBN. We now need real central bankers to govern our Central Bank. We have central bankers amongst those in the CBN, and we also have central bankers amongst the members of the Nigerian Economic Society or, alternatively, indeed, we can even go outside Nigeria to employ central bankers. The fact is that the Diaspora remittances are not retained in Nigeria and there is a collaboration between the CBN, Nigerian banks and Western Union/MoneyGram; in such an event, government must investigate the infraction, punish the money launders, and recover all past Diaspora remittances retained abroad! Copied! The Outbound Money Transfer Services must be stopped and all our remittances retained for naira stability and the nation’s development." October 8th,2019. Etubom Anthony Ani is a former Minister of Finance,1993-1998. *[Please share in all your social media platforms or tag until it goes viral for Urgent Action by President Buhari.We have endured too much fraudulent bewitchment as a People and Nation.]* Caveat emptor: Post as copied. |
Mikehot:Saudi Arabia, Qatar, Emirates and more are Muslim countries, illiteracy is the problem in the north, greed is the problem in south. Different strokes for different folks. |
BluntTheApostle:Guy no make me cry o, na 3pm some.people do cross over night in Lagos. That year I was on my way to cross over night at prayer city, Daystar folks where just coming out of cross over night service at 8pm in the night at Oregun what?. The hold up was mad that night, by the time I got to prayer city at Mowe, it was 11pm in the night. Na long que we follow enter prayer city, the gate of prayer city was heavily guarded, their were soldiers everywhere using metal detectors on people, anyone who refused to be checked mustn't enter. All my happy new year bangers were seized, the chief security officer in charge was screaming no banger o, no banger. By the time I managed to get in, It was almost 11.45 pm, I quickly join the few remaining prayers. Na only 21 Hallelujahs we take celebrate happy new year, no bangers unlike the previous years. Whenever I look back at how it was and how it might have been, I can only say thank you Lord. |
saasala:Stop blaming MC, Mukaila and Semiu are not complaining. |
ethicallyright:Guy you shake the table so tey you break am. But you know what?, everything wey you talk na true. |
oyatz:Don't mind him, he is out to stop a high speed train like Tinubu. If Tinubu had been one of them, the noise will have been Tinubu Amaka. But because they have no one to match Tinubu's profile, they are wasting their time trying to demarket Tinubu before they present their worthless candidate, this shows how backward they are morally and intellectually. Some of them will kill themselves on top Tinubu matter, dandan ni, ironu ikoko lo ma pa Aja. |
simplexvi:A man who stole what could feed 300 million people, for 150 years is already a failure. Ask Obasanjo he will explain better. |
simplexvi:No one will allow anyone to rule, do your homework. WAEC no go allow you pass unless you answer their Questions. FIFA no go gree anyone win without playing by the rule. Since 2015 you people have not played by the rule have you?, as the matter stand now, Tinubu go win this election because you people had single handedly campaign for him. |
Fvckhypocrite:Swerve jor Southern Nigeria ko, southern Abbysinia ni. When Nigeria breaks, everyone must answer their fathers name. |
Trendy247:Guy na so I endured pindindinrin for good 16 years, just manage 8 years of Tinubu, I no die enduring pindindinrin, you self no go die enduring Apeecee, as the matter stand now account never balance, 16 years must complete. |
LegendHero:It is better for them to threaten Tinubu, can't you see that Tinubu is already afraid of them. This is why Tinubu dey visit north, he wants the north to beg omo Igbo on his behalf. Bunch of nuisance wailing Tinubu up and down, Tinubu ti da omi si iwaju, dandan ni ki o te ile tutu. Itakun to ni ki Erin ma wo odo ni won, ati awon ati Erin ni won jo nlo. Tinubu has become a TSUNAMI, whoever tried to stop him will be swept away. |
smallsmall:Which protests? the protests which demarket PDP open your eyes, APC still won election in Lagos after end sars, infact it was a massacre. Since Nnamidi kanu tape urging IPOBS, to kill Tinubu and burn down Lagos, Yorubas have ronu. So you don't know that all the traditional rulers in Yoruba land had translated what happened as another 1966 coup all over again?. Why do you think they are visiting Lagos?, relax Yorubas will deal with unintelligent folks like you people without firing a.bullet. By the time Yorubas are through with you people, e o ni ro aso buruku be se oro mo. |
Yamayama and potorpotor threads just full nairaland theses days, |
arsenal33:Lagosians are not up to 5,000,000. You took these words out of my mouth. Let the governments of other states take care of their people. Imagine not providing food for your children and blaming your neighbors for not taking good care of your children. It doesn't make sense feeding visitors with food prepared for my children. |
Vaughanlanrewaj:Stop wasting your time, dey just don't get it and they have also been deceived into believing that those who do such bussiness are poverty stricken. Grinding machines that starts working as early as 4am in the morning, na that machine dey wake me up. Especially for those who have food vendors as clients, 7am in the morning they are like 3k up, just imagine how much they earn on a daily basis. Those who are good money managers among them already leveraged on this daily income to move into middle income class. They have transferred the grinding machines to their less privileged relatives, they now sell food stuffs, they've also managed to build moderate houses that also bring in some moderate rents. As the matter dey go now, they are supposed to be at home resting, but they are still keeping it real teaching their children the way it's done. |
9icest:Omo 9ja folks are like that Diabla in that colombian telemundo series, end of paradise. From one crooked bussiness to another, crime after crime, financial crimes everywhere you go. Just look at this..MONEY TRANSFER FRAUD!!!!! COLLUSION AMONG CBN,COMMERCIAL BANKS,WESTERN UNION,MONEYGRAM,ETC TO KILL THE NAIRA INSTALMENTALLY �!!! By Chief Anthony Ani,FCA,Former Minister Of Finance. "A MATTER OF NATIONAL EMERGENCY DEMANDING OUR DEAR PRESIDENT BUHARI'S URGENT ACTION! "RE: $BILLION DIASPORA REMITTANCES: WHERE ARE THE DOLLARS?" The above question was posed in an article in The PUNCH newspaper edition of September 9, 2019, by columnist Henry Boyo. I have been a daily reader of The PUNCH for the past 10 years and I have not yet, read any comments from anyone on this question. There is a need to discuss this issue, as it appears that there is massive foreign exchange laundering going on in our banks. As the architect of the Diaspora remittances in 1996, I am naturally concerned at the abuses disclosed by Boyo. When in 1995, we at the Ministry of Finance reviewed the country’s sources of foreign revenues, we found out that nothing was coming in from Nigerians in the Diaspora, whereas India and Jamaica were living on foreign exchange from their citizens abroad. When I enquired why Western Union and MoneyGram could not receive money from Nigerians abroad, I was told that it was due to our tax laws. As a Chartered Accountant student in 1962, I studied Comparative Commonwealth Taxation in Nigeria, Jamaica and the UK, and I found out that the tax laws of these countries had the same wordings on imposition of tax (“tax is imposed on income accruing in, derived from or brought into”). The question then to me was why income “brought into” India was not taxed in India? On enquiry, I found that India had modified its tax laws to accommodate its citizens living abroad who wanted to send money in foreign exchange to India. In 1996, I had proposed (and it was accepted by the Federal Executive Council) in a new law, regarding Nigerians repatriating remuneration from abroad, Nigerians repatriating dividends, royalties, fees, commissions from foreign countries receipts by authors, sportsmen/women, musicians, play writers, artist, etc. Such income repatriated into Nigeria in foreign currency was 100 per cent exempted from tax, provided the foreign currency was repatriated through a domiciliary account with a Nigerian bank! With the promulgation of this law, First Bank Nigeria Ltd brought in Western Union in August 1996 while the USA(UBA) brought in MoneyGram a few weeks later. In 1996, Nigerians abroad repatriated about $4.5bn (about 50 per cent of our gross revenue from oil) and we ensured that these amounts were brought into Nigeria, intact, in foreign exchange. The receipts increased exponentially in 1997 and 1998 and we also made sure that they were received in Nigeria, in foreign currency. The receipts helped to stabilise our exchange rate mechanism at N82 to a dollar, throughout my tenure as the Minister of Finance, to the extent that the naira was internally convertible currency. Some years ago, on my visit to London, I went to Western Union office, at Marble Arch, to test by remitting £500 to my son in Nigeria. I first had to convert the money to dollars and to my surprise, Western Union gave me a quote in naira to be claimed by my son. I refused their naira equivalent and insisted that my son must be paid in dollars. It was obvious to me that there was an arrangement between our Nigerian banks and Western Union/MoneyGram, whereby the former pays from their excess naira liquidity while the later retains the dollars abroad. In other words, the dollar remittance is retained abroad and is laundered by the Nigerian banks. This is definitely against the law which provide that all remittances must be brought into Nigeria in foreign currency via domiciliary account. If by chance, as in my case, the dollar is remitted into Nigeria, the Central Bank of Nigeria on August 14, 2014, introduced the Outward Money Transfer Service and authorised the same MoneyGram and Western Union to re-export, in tranches of $5,000 per transaction, to Nigerians abroad, on payment of the naira equivalent at the CBN rate of exchange. Thus, Nigeria is the only country in the world re-exporting its remittances. It is relevant to note that the naira is not a convertible currency but remittances which are meant to stabilise our exchange rates are re-exported! There is something wrong at our Central Bank. It could be that we have imported the mentality of commercial banking into the CBN. We now need real central bankers to govern our Central Bank. We have central bankers amongst those in the CBN, and we also have central bankers amongst the members of the Nigerian Economic Society or, alternatively, indeed, we can even go outside Nigeria to employ central bankers. The fact is that the Diaspora remittances are not retained in Nigeria and there is a collaboration between the CBN, Nigerian banks and Western Union/MoneyGram; in such an event, government must investigate the infraction, punish the money launders, and recover all past Diaspora remittances retained abroad! Copied! The Outbound Money Transfer Services must be stopped and all our remittances retained for naira stability and the nation’s development." October 8th,2019. Etubom Anthony Ani is a former Minister of Finance,1993-1998. *[Please share in all your social media platforms or tag until it goes viral for Urgent Action by President Buhari.We have endured too much fraudulent bewitchment as a People and Nation.]* Caveat emptor: Post as copied |
seguno2:Our fore fathers never worked for anybody true or false?, they worked for themselves and they are supported by their wives and children in their businesses. So you don't know that people fly into other countries like Australia to earn a living, harvesting agricultural products and it's and annual thing?. Just imagine that Nigerians all this while had improved on our fathers agricultural bussinesses, don't you think people will be flying into Nigeria to participate in planting and harvesting, and we won't be here discussing poverty alleviation? Why are Nigerians fixated on white collar jobs, how many companies, did our fore fathers left behind?, the only thing they left behind is farming and we have fled from it. What useless employment and underemployment are you talking about?, you better go and read about the history of Europe before they got to where they are today. Why do you think their fathers had to go all over the world to kill, destroy and loot?. The money that Eurozone and America is leveraging on today are all stolen money and have they stopped? the stealing continues through their proxies everywhere. The earlier people understand the better, that few jobs are available and people needs to stand on their own. |
Vaughanlanrewaj:Thank you, the matter taya me o. You need to see the so called poor in Lagos every weekend. Me wey no poor no get the kind jolly wey dem dey jolly, na aso ebi after aso ebi, party after party. .Government should move from poverty alleviation program to seminars on financial discipline. From my personal observation, people are poor because people live an AIMLESS life. People spends money on things that add no value to their lives. Different strokes for different folks jare. |
bsalawu:Who made you poor, you better wake up and smell the coffee, your life is what you make it. So who made people poor in America, and Europe or you think there are no poor people there too?. Get a better life for yourself, don't wait for whatever life throws at you. The Quest for a better future, is what differentiate the rich, and the average, from the poor, the people you call " the poor " attend party every weekend wearing newly made aso ebi. , yet they are poor.Some people leave their homes by 4 am in the morning to go do their jobs, they don't even have time to attend parties as all they do is work. These people are not mad, they just don't like the idea of waiting for handouts. Stop being uneccessarily emotional, life is a just employer too, it will pay you for as much as you are willing to put in, don't settle for less. Good morning. |
A job that three Nigerian president could not do, a foreigner like jubril Al Sudan has almost complete it. Na war o. |
A job that three Nigerian president could not do, a foreigner like jubril Al Sudan has almost complete it. Mar war o. |
Okoroawusa:Those #burnLagos# the Yorubas among them, when last did you hear anything about them? . Chai ofo l'omi efo se.They are in for a long hibernation. People wake up to lay curses on them, especially those early momo BRT passengers. You hear things like " ki eyan gbe owo s'oke ju ina si owun ti gbogbo eniyan nlo, won o tun fi owo won se nkan rere mo l'aye won, awon ota aje". Meaning " imagine using their hands to set a useful public property on fire, they shall never do anything good with such hand again in their lives, enemies of wealth ". |
Indispensable85:Edo is not Lagos, let Edo remain Edo while Lagos keeps being Lagos. |
KunleyY19:You wonder why they end up a failure, this is LASG developmental plan not Ambode's. If Sanwo self deviate dem go boot am out, no matter how smart a man is, he can't be older than his parents. |
Philipponzaghi:E ti ri nkankan. Mariwo le si nri, e ma to ri eegun. |
Aconomist:Don't cry for me omo Igbo, the truth is I'll never love you. All through my wildness, my wild existence. I made no promise, please keep your distance. Remember that Madonna song " don't cry for me Argentina "?. You love us more than us, ki lo de gan?. Solo Makinde, ta lo fi ise ran yin?. Show us the dividend of your 16 years of servitude in pindinpin, or forever remained CHOKED with your hate for good things, pig. The train is magnificent, we love it. Thank you Buhari, God bless you. |
ogwumgbe:You want to go where?. You people were at Ore on your way to Lagos, were you people going to Ghana or flying out through MMA international airport?. Even now you people can still go, just bomb the Niger bridge. ![]() You come online to post nonsense and think everyone is a mumu, could Ojukwu be so daft not to know that the first thing to go should be the bridge?. Rather you expansionists cross the bridge with the sole purpose of annexing other people's land. Saying NO to a land grabber is not holding anyone down, you people failed because you people are greedy. If you people are given the second chance of getting Biafra, you people will still fail because you people will still cross the Niger bridge again, into other people's homelands and you people will still be done for. |
YungMillionaire:E shock you?. |
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