₦airaland Forum

FOJEM:
Na so!
Churches are planted on a regular basis yet ,evil increases astronomically. Most of us, so-called Christians are into Mammon worship by focusing more on tithes., offerings, financial seeds, money ,and more money.
So how is the Church marching on ?
The Church can only march on if Christians live their lives based on the examples and, teachings of Our Lord and Saviour Jesus Christ. Where is genuine love amongst brethren? Who cares about the poor a n d the needy? How many of us live righteous lives? How many General Overseers have their children at home because of ASUU strike? Some Nigerian Churches pay taxes abroad, but will refuse to pay taxes at home. Our hypocrisy can fool human beings, but God is not mocked.

You made some good points. But Churches don't pay taxes anywhere abroad, definitely not the US or UK.
They are classified as non profit.

MaxInDHouse:
Useless man!
Did you console TB Joshua's family when they lost him?
At least TB Joshua sends his condolence when your own son die nah!

Yes he did, all the papers carried it. So stop speaking like someone with no knowledge.
And even he didn't so what? Are they family members or friends?

GoooodHardDick:
This is exactly Why Nigeria needs peter Obi!

Nigerians wake up! We may never see a candidate like Obi again. This is the best Chance we have now to remove these ancestors and get Nigeria working again!!!

Together we can get it right this time around. Let's not miss this opportunity. Let's Vote massively for Vote labour party, vote for peter Obi

Nigerians love telling stories. Same thing Buharists told us in 2014.

It's all LIES.

Zane2point4:

You know I’ve been wondering about this mr “bad news” guy’ and at some point i think he just might be indulging and actively taking part in bad news just to create content!!

Just like one episode of james bond movie(I’ve forgotten the name) where the villain actually create bad events himself so that he’ll be the top media outlet to report the headlines!
The guy nearly made russia and America to fight in that movie’

Ppl are psychos

Hmmmmmmm. You maybe onto something there o

scholartung:
Wike and one letter that begins with T is 5&6

What's the letter?

hisgrace090:
If they truelly punishes this arrogant corps they would have been a change of behaviour among them as they keep on behaving worst.

Its the whole country. Virtually every citizen acting unlawfully, not just police. The punishment is helping to minimize the evil, but it won't step it.

Househelps being evil to children.
Bosses being evil to househelps, workers, other people's children.
Landlords to tenants
Tenants to landlords and Co tenants
Neighbors to Neighbors
Police and Military to each other and to civilians
Bandits, robbers, kidnappers, area Boys, UGM, touts, pirates.
The list is long sir....

Kingpin1000:
Anyone who thinks things will get better is not a Christian or does not read his/her bible.
Things will only get worse until Jesus comes.
What was the reason for Nancy Pelosi's visit, I guess to stir up trouble.
They will soon start blaming China but China gave them their last warning which was still used to mock China.

Sir. Please don't mix our Master Jesus with politics. Whether Republican or Democrat. APC, LP. or PDP; the Master does not belong to human politics. His Kingdom will come.

We are humans and have our opinions, right or wrong
Just like you and many others are not happy that Pelosi is looking for China's trouble by this visit; I know there are tens of millions of Taiwanese people, Tibet people and many Chinese Christians and Muslims currently under persecution and forced labor by China
who are happy with what Pelosi did.

matrix199:
Former head of state is kept behind to only peep through. That speaks volumes of how terrible he was in power.

Not that I am a Buhari supporter? But how?

SmartPolician:
If you live in Nigeria in this Internet age and still ask me this question, the only thing I will tell you is to go and collect 5k and vote for Tinubu. I won't reply you again.

Why? What's so hard in being bold enough to answer.

There are many people I prefer to be President; but they are either not contesting or have no chance.
Of those contesting, Sowore to me is the most patriotic and honest; but he can't win.

Thus we are left with 2, maybe 3 who have enough reach and structure to win.

Please tell us which one sir and WHY?

SmartPolician:
In the past, these things used to move me but not anymore.

Those people will still collect 1k and vote for Tinubu, not knowing they have been paid off for 4 years.

I don't bother myself about the situation of the country anymore. We deserve the kind of leaders we get.

So who should they vote for and why?

Aare Gani confuses these days.

1) What happened to the galant Gani Adams of the OPC days?
2) Is he not the Aare Ona Kankanfo ( General of the Army) of Yorubaland?
3) What is new about bandits in the forest, wasn't the same thing said last year and year before that?
4) How big are the forests that his OPC men can't focus on one small area and capture these bandits?Are the bandits ghosts?
5) Whats the point of Ametokun if bandits can infiltrate the SW?

LIES.
A 2 second video and people are making assumptions that are completely wrong.

Lack of understanding and information can be a very dangerous thing.

GloriousGbola:
You clearly do not know anything about Maddof if all you can keep spouting is 'Ponzi scheme'.

But you do you.

Keep spouting Ponzi scheme?? Bernie ran the biggest ponzi scheme the world has ever seen! $50 Billion! That's exactly what he was accused of, charged with and jailed for! What else would I spout!?

He ran a fake stock market trading company; became the most powerful stock market don in America; but it was all a Ponzi Scheme!
Haba!!!

GloriousGbola:
https://en.wikipedia.org/wiki/Bernie_Madoff

Do you even KNOW anything about bernie madoff?

This Nairaland sef...do I even know anything about Maddof? I was one of the first people to know what happened the day his sons confronted him.
How would anyone not know who Maddof is?

My point is Maddof was 100% running an illegal operation. Almost from day 1 ( spanning decades) he was running a ponzi scheme.

Dollarsea:
Nawa o.. so in the Nigeria you dated and married your wife without knowing her brother all along? Same BIL and his wife (ur ex) didn't attend your wedding too?

I didn't say its Nollywood sha

He didn't say he married her, they dated.

And in Nigeria, brother can be cousin or even from the same village

MrWood:
Do you have any idea how many nigerians and non nigerians/africans/indians/chinese are millionaires in western countries with very big businesses and clean records because they follow rules? you think these guys were singled out because of what?

I've never even heard of this business until this news came up even though I patronise more often companies with african owners for international transactions

Do you know that every Nigerian I KNOW in America that used to use Western Union and Moneygram regularly has not used it once in the last 5 to 7 years because of the new businesses like Ping mostly run by Immigrants?

Do you know that my friend a banker in Lagos has had just one Western Union transaction in the last month at their branch; same branch that would have dozens to hundreds of such transactions EVERY DAY for decades?

gaby:
You are joking Mr Man.

Portable is your friend and partner. You are all in whatever he is in together...

The monster you made.....

Na this thing people decide to make their brand ambassador and lavish money on...


Nigeria na cruise ship..

You see that portable thing, he was sent to the world to destroy somethings and some people with himself.

He doesn't even seem.to have control over his mission.

Oga you are wicked ...he doesn't even seem to have control over his own mission

1stGenAmerican:
You’re urging me in vain because as a lawyer practicing in the US, I learned about pleas years ago and with all due respect, I know more about federal prosecution than you do. I’m doubling down on what I’ve already said about their guilty pleas.
You ignored what someone else tried to tell you but I’ll tell you again: business structures matter. You’re comparing a huge corporation to a startup. Different business structures, different policies and regulations.

Your assumption is a giant leap sir. You are telling someone you have never met, have no idea where he is or what he currently does that you know more about him in a certain area? As a lawyer, is that even tenable in court?

People USUALLY plead guilty when their lawyers advice them it's better to do so.
- Pleading guilty and getting 2 years means if you go to trail and are found guilty by a jury, you will definitely get much more; in this case probably 5 to 10 years.
- Not everyone has enough money to pay lawyers indefinitely especially after one has exhausted their life's savings or their accounts have been frozen.

All in all, MY POINT REMAINS jail term for these guys is wrong; else the CEOs of Moneygram and Western Union should be in jail for life. Yahoo Boys have sent billions of stolen money through them, and all that has ever happened is fines.

1stGenAmerican:
Did you skip the part that said they admitted to operating in several states that they weren’t licensed to operate in or the part about them pleading guilty?

I seriously urge you to find out for yourself why people that plead guilty in cases against the Feds do so.

As for operating without license in 5 states; that is not jaileable offence; it's what companies get fined for.

robosky02:
WAFCON Semi Finals



Morocco vs. Nigeria.

Date: Monday 18th July 2022

Time: 9:00pm


Venue: Rabat (Prince Moulay Abdellah)



https://afrikpage.com/2022/07/01/here-is-the-schedule-for-wafcon-2022/
https://en.m.wikipedia.org/wiki/2022_Women%27s_Africa_Cup_of_Nations

Who is the oyinbo in the Nigerian team?

obynzo:
I think you were very hasty in your conclusion. Ping express were seriously complicit in that their controls were deliberately lax. first of all their transfers didnt follow Federal reserve transfer limit of $5k.
which was suggestive of their platform being used for Money Laundering operations. In the case of Western Union and MoneyGram over the years their CEOs get prosecuted and the always get fined. I can tell you with confidence that MoneyGram was fine $500m by DOJ for having lax controls for Money Laundering,Western Union had to reach a $550m settlement in 2017 and was audited by DOJ for 3 years the audit ended in 2020 during the COVID period.
See these ping express guys faced one issue that all Fintechs face. They keep over reaching their capacity. Let me explain, when they start they get the first seed funding and they are doing marginally well, then the greed sets in and they cook their books and present to venture capitalists to get seed fundings of $500m or more and that Money is not utilized in the Business they go on crazy spending and strange PR campaigns recruiting celebs. Then when time comes to make returns to investors they fall into the trap of making quick money by facilitating Money Laundering Ops for either scammers abroad or politicians wanting to move their stolen wealth out of the country.

Not Ping sha. No ever accused them of cooking their books or playing funny money, even the Feds didn't say that.

obynzo:
I think you were very hasty in your conclusion. Ping express were seriously complicit in that their controls were deliberately lax. first of all their transfers didnt follow Federal reserve transfer limit of $5k.
which was suggestive of their platform being used for Money Laundering operations. In the case of Western Union and MoneyGram over the years their CEOs get prosecuted and the always get fined. I can tell you with confidence that MoneyGram was fine $500m by DOJ for having lax controls for Money Laundering,Western Union had to reach a $550m settlement in 2017 and was audited by DOJ for 3 years the audit ended in 2020 during the COVID period.
See these ping express guys faced one issue that all Fintechs face. They keep over reaching their capacity. Let me explain, when they start they get the first seed funding and they are doing marginally well, then the greed sets in and they cook their books and present to venture capitalists to get seed fundings of $500m or more and that Money is not utilized in the Business they go on crazy spending and strange PR campaigns recruiting celebs. Then when time comes to make returns to investors they fall into the trap of making quick money by facilitating Money Laundering Ops for either scammers abroad or politicians wanting to move their stolen wealth out of the country.

I understand your point sir, but no Western Union nor Moneygram CEO has EVER been prosecuted nor jailed for something like this . Fines, yes and that's what we are talking about

erniok:
Dear babzo, your analysis of the whole event seemed tainted with sentiments. Do you think they'd bagged jail terms if they did everything by the book? Please bear in mind they violated their own set transfer limits.

All I was asking for is equity before the law.
While jail 3 young men because one customer laundered $1 million through their legitimate business but just fine a bigger company that has allowed billions to be laundered with no jail for their CEOs?

Subsidywise20:
So, if someone robbs houses and steals their money, would it be right for me to rob your house, since the other guy was never caught?

Let's not jusstify evil. You can tell me all sorts of tales of how white businesses got away with it, and I can tell you tales of people like Enron...many of whose execs went to jail, and Tyco, whose founder and chief exec was sentenced to a longer term in prision than our brothers above, and even Madoff, who had a lot of connections and got sentenced to a long term in jail for fraud, or the bank execs who also ended up in jail one way or the other for the same fraud...and they were all white.

Infact here are a list of CEO's who went to jail Enjoy.

As for me, I am tired of justifying evil. I especially do not like guys who facilitate the transfer of illicit money.

Anyway, I don try. Please don't quote me again, if you are here to defend what these guys have done. If you were their victim, you won't be sanguine.

How can you compare a Ponzi scheme initiator like Maddof to a CEO?
What's the difference between Maddof and Collins?

We are talking about CEOs of a legitimate business not scammers!

I don't see the logic.

Subsidywise20:
Again if you are doing business as a foreigner in a foreign country, they treat ye more harshly than the locals.

It follows they should have followed the rules. Especially the rules on operating with a licence. And the rules on reporting any transactions in excess of what they agreed with the regulator. They did not do that.

And yes, let's not defend wrongdoing. They did wrong. They allowed blood money through their accounts. So they got punished. That others don't get punished is no excuse.

Seriously, let's stop defending wrongdoing, even by our own blood. It's years of doing that that has led us to be a messed up country. Plus most of the fradulent transactions that led to their imprisionment were other people's blood and sweat.

HSBC ( US Bank) helped Drug Cartels launder money in South America for years. They did it knowingly. Drug cartels o. Violent murdering Drug lords. The US government found out and they were hit with a staggering $1 billion fine or so.
But not one of their workers or Ogas was arrested.

This is not defending evil, this is asking for equity before the law.

If this was a case of the scammer Collins paying bribes to the Ping guys or them charging him a special fee or sharing his loot, that would be another thing; but this is not the case.

Let's be bold to speak the truth!

MrWood:
But the company's business development manager pleaded guilty to knowingly transmitting illegally derived funds. He may have admitted under oath to evidences that that nailed his 2 bosses.

Unless you have valid proof that they haven't contravened any law then it is you who's clearly calling the the racist card.

There are numerous cases where Western Union had been fined hundreds of millions of dollars too.

And now that's the problem with Nigerians and why the country is likely to be in a turmoil. What you've written up there doesn't make any sense and more than 100 nigerians liked your posts.

See this Oga, Western Union ( headquarters of Yahoo Boys for decades with billions laundered ) was fined, but their CEOS never arrested or jailed. Now Ping CEO arrested because scammer Collins laundered $1 million. Haba!

The 100 Nigerians who liked the comment are good people who could see the double standard.

Subsidywise20:
If you read the article, they were also punished for operating without a licence in several American states...


That's from the article.

I would understand a fine or suspension of their license? But jail? When the CEOs of Western Union and Moneygram have never been jailed despite being the headquarters of Yahoo Boys for over 20 years!

Subsidywise20:
1.They also got into trouble for operating without a licence in several states...



Above is a direct quote from the original writeup.


2 Money gram has been heavily fined in the past for allowing illicit transactions through its system

.

3.People who send money through Moneygram and Western union for fraud also get punished.

4.Perhaps it is because of the stricter times at Moneygram and WU, that they fraudsters used Ping Express.


5.And the Ping Express you defend broke their rules several times...

The company outlined its anti-money laundering policy in a memo to state regulators, claiming it would cap first-time customer transactions at $499, cap daily transactions at $3,000, and cap monthly transactions at $4,500. However, in plea papers, the company admitted it allowed more than 1,500 customers to violate these rules. In one instance, Ping allowed a customer to remit more than $80,000 in a single month – more than 17 times the purported limit,"

The company's Head of IT and Business Development Manager, Aleoghena Okhumale, also pleaded guilty to knowingly facilitating illegal remittance of fraudulently derived funds


The above is from the Business Insider report on the matter (not inlcuded in the Vanguard report)

Note..it is not just 'one million dollar transaction' ...it is several transactions that broke the rules. In addition a high ranking executive willingly broke the rules to help crooks..people he knew were crooked...to transfer cash.


Don't defend evil in the name of racisim. Even if there was racisim, PLAY BY THE RULES SO THAT THEY WOULD HAVE NOTHING ON YOU. No matter how hard they try.

So you acknowledge that Western Union and Moneygram have fallen victim to fraudsters too? Then why have their CEOs NEVER EVER been arrested or jailed despite Yahoo boys sending billions through them in the last 25 years?

How does me bringing that up become defending evil?

Ralphlauren:
You are talking nonsense.

Go back and read the full story.

Those guys did not have the license to operate a money transmission/remittance business.

Typical Naija method of argument, anything they don't understand or agree with is nonsense.

So please great Master, kindly tell us what your Ogas licensed them to do because even the Justice Department acknowledged in the statement that they were a legitimate business!

HazzanTazzan:
Does interswitch operate the day to day monetary transaction a bank operates ?

The license of a payment processor is different from the license of a financial institution ...

They knew this ... you can’t run the operations of a financial institution cos you are a licensed payment processor ..

They are not the same thing

In what way were they acting as a financial institution? Did they take deposits? Give out loans? Issue debit cards? Pay interest? Invest money?

Ping Express had one business and one only bro!

xandy84:
There are rules to be follow and these guys ignore and possibly turn a blind eyes which attract jail term and that was why they plead guilty. In America, you can not deposit and transact more than $10,000 without IRS been notified. That is the law and any bank, financial institution to disregard the law pays huge fines. Ask Wells Fargo.
These guys plead guilty cos they know they're wrong and it's time to do the time.

Yet the CEO of Wells Fargo was nor arrested or jailed despite purposely scamming its own customers of hundreds of millions of dollars?

ggoldmine:
You're quite oblivious of what goes on within the Fintech industry. You should read the post again without bias…they pleaded guilty. I also indulge you to read up on Flutterwave's current scandal. Cheers.

Oblivious to an industry I work with? To a case I have followed for 3 years?

You think Flutterwave would have survived for 1 month in the USA with all their scandals?

As to pleading guilty, you might want to find out why lawyers usually always advise that in cases WITH THE ALMIGHTY FEDS.