₦airaland Forum

Foolish man!

If Peter Obi wins this election, this man will be the biggest loser.

The opportunity to be Vice President was presented to him on the platter of gold but primordial sentiments and age long ethnic biases made him allow it slip away.

Now, Peter Obi will still win, just that the victory would have been quicker with Kwankwaso on the ticket.

But Yusuf Datti is a better candidate for the kind of Nigeria we want to build because we all know that Kwankwaso is just another ethnic bigot and jingoist.

There’s no division at the top

Ogunleti01:
And for the fact that not only one thief would be forced to bring out their loots. We have so many of them

Exactly my point…

There will be chaos and eventually the black market will be overwhelmed

Lol

This is my comment on the thread of 2007 new naira note circulating after CBN announcement, and some brainless fools were yarning dust below my mentions of how you can change 1trillion naira to dollar within 5 seconds without headache.

They forgot that the CBN, EFCC and the NFIU must have cut some deals with BDC operators to tip them off on things like that and get some cut from every deal.

Some BATstards think they can be smarter than EFCC forgetting it’s still Nigerian crooks that are working in EFCC.

Ekundayo7574:
You sound like a labor party man they should have shoot you right away I'm not really impress

Such heartlessness!

Haba

buckeyemedia:
Keep dreaming, a Benue person trust an Igbo man with power?

Go and sit down.

All those your old propaganda has failed and will never work again.

Prepare for Obi presidency

Nlfpmod

buckeyemedia:
All This Hypocrites that have abandoned their Biafra struggle, and are crying to be President of Zoo Nigeria now?

I can feel your pain, sir.

Tell Tinubu to go to Benue like this, I want to check something.

socialmediaman:
No! Possibly more than 95% of Nigeria's wealth are in the hands of 5% of the population.

Agreed!

But in a country of 200million people, how many people do you think make up that 5%?

chinnyonwu:
I have told you many times but you refuse to listen, he wonr pay 10m worth of cash to one BDC. He wjll spread it through little 10m payments to multiple c
Exchangers and with the help of his friends.

Also do you realise that there are so many unofficial forex exchangers? Even here on Nairaland? Have you ever gone to the buisness section?

What about local bitcoins dot com?

By the way, you started with 100m naira, did you catapult it to 7bn naira just to prove a point?

Finally i ask again, why is CBN doing this at this tjme our currency is still very unstable? Do you realise that even if a few scapegoats are caught, many billions of naira will still enter into the system uncaught?

Also, when the scapegoats are caught, what will be the outcome? What has been the outcome of poeple that EFCC have been pursuing and catching since 2015?

The outcome is that CBN will put a cap on the amount of cash it will release into the economy and such regulation might help reduce cash in people’s hands and force a lot of people into electronic transactions which can be traced.

Pinkyposh:
Alright thanks ☺️

You are welcome, Pinky!

Hope you are good?

Be like this one wan collect

Hope you have a bulletproof car, sir?

Pinkyposh:
Ok... What if the CBN didn't plan to redesign the naira, and such old notes are in circulation, does it mean anything?

No. It would still have remained a legal tender.

See genuine and organic love nah!

Meanwhile, one old idiot that is urinating on himself has been roaming around Lagos and Southwest alone as if he wants to be the President of Lagos.

First, he caused a schism in Afenifere and bought the endorsement of one arm of the organization.

Second, there was the even of ICAN General body that was held in Lagos… Tinubu refused to attend. But today, he gathered his own Lagos State business community by himself to tell them what he wants and what they’ve prepared for him to read.

After all these things, you will say I should not call you a mad man if I see you supporting Tinubu?

Lastly, I’m sure by now when we say that Benue is in the bag for Obi, you will not argue. Support for Alia will never translate to support for Tinubu.

chinnyonwu:
Yes, since there are 100s of us, please explain how exactly CBN intends to know who is legit buying dollar for business and the ones buying cos they are trying to convert stashed naira?

How will they differentiate?

While they are at it, naira is falling to 1000 against the dollar harming the common man (who are in the far majority) while CBN is chasing looters.

The looters EFCC has been chasing since 2015, what was done to them?

The way CBN will differentiate is that a genuine business man buying dollars for business will simply initiate a local transfer for whatever amount of dollars he wants to buy, to the account of the BDC operator. How many business men do you see moving with cash? Because how many of their clients pay them in cash?

But that corrupt politician who has stashed billions of naira at home since 10 years now, he is the one that would want to buy 10million dollars and tell you that he’s paying in cash.

Are you even away that those BDCs may have been warned of certificate withdrawal if they are caught do such shady deals?

Pinkyposh:
Please school me
What are the implications of having old notes in circulation.

Because if you retain any old note beyond 31st January 2023, it will become useless. No bank or person will take it from you anymore.

socialmediaman:
You see, I am well informed about the level of corruption in our beloved country. We're not talking here about ordinary yahoo boys storing billions of naira. These money were probably made from illegal arms deals, illegal refineries, billions of dollars borrowed to fight BH etc. How much power do you think the CBN governor has? He doesn't even have the power to do anything. He works for the president.

OK so he finds that some cabal member who is also a general is buying millions of dollars, and he does what? Before he even gets to tell his boss what is going on, word has gone to boss about his own illicit deals, and his boss will announce his replacement with immediate effect. Next thing EFCC will raid his home and put him on trial and the story will die a natural death

You're living in Nigeria bro. There's a reason we are where we are today.

Read this story I published here 2 years ago for context: https://www.nairaland.com/5981088/know-people-know-people-then

See, it’s that way everywhere in the world even in America, UK, etc.

There will always be some people that are too connected to be trapped by this kind of policies.

The question is, is it every corrupt thief with a stash of cash in his house that can pull such strings? Only about 5 or 10% of the targets that can pull off the kind of thing you are talking about. The remaining 90% will be caught in the web.

RepoMan007:
You are so uninformed

If they truly have notes kept for vote buying, it is as simple as using it to buy vote buying commodities like rice / beans / garri / palm oil and distributing directly to reduce their cash need for direct vote buying.

Maybe you are not aware, the food inflation which isn't corresponding with cost of production jump is being orchestrated by some political big wigs.
They go to communities that cultivate specific crop like beans, offer the farmers the cost of the expected harvest shortly before harvest and store it. When sarcirg hits and distributors or wholesalers go to farming community they usually get food, the encounter a rigid inflated price because the politicians van afford monopoly.

Changing currency can't stop vote buying to any reasonable extent.

So, you are saying that on Election Day, politicians will go to polling units with trucks filled with bags of rice and after voting for him you go and carry one bag of rice and opposition supporters will just be looking at them?

endy69:
What you don't want to know is that these men get forex traders that can transfer even 10billion naira into dollars, buy properties etc. 1month is too much to change money except you are stupid. They will only loose a few naira

So the forex trader that changed 10billion naira to dollars for you, where would he keep the cash after he has taken it from you?

BreconHills:
Sorry, why can't they deposit it in a bank? The bank will even send a bullion van to collect it and return new notes to them next day. Banks are looking desperately for cash to shore up year end results.

Let's not see every event through the lense of politics. Na beginning of craze be that.

Next thing people will see Messi endorsing a Nigerian politician.

Lol!

Don’t talk as if you are in kindergarten.

The average daily cash deposit by an individual is 5million naira. Anything above that is usually reported to EFCC.

Similarly, the average daily deposit by corporate businesses is 10million naira. Anything above that will be reported to the EFCC. Any bank that fails to do this is usually fined heavily which makes banks wanna comply.

Now, a bank sending a bullion van to bank naira from someone’s house is not the problem, the problem is that as the bullion van is on its way to your house, report is on its way to EFCC and NFIU. And you will have to go and explain to EFCC how you came about the huge cash.

Munamoqel:
we have seen enough in Abia state Abi na fulani be governor there !

Is Peter Obi the governor of Abia State?

chinnyonwu:
You mean if you had 1 month to launder 500m naira in a country with thousands of bitcoin traders and official & unofficial bureau de change operators, plus having relatives and friends who can also get involved for a little cut, you cannot?

That will be a shame.

I hope CBN has a better reason for this

Now, imagine that there are 100 more people like you employing same tactics as you, can you imagine the chaos that would cause and the fact that it would draw the attention of the authorities?

And do you really think CBN and EFCC is unaware of such avenues? You think they have no plans against such people?

Munamoqel:
this IPOB man go and rest .North will never ever vote obi or any Igbo man into Power .u think say to kill AHMADU Bello and tafawa balewa na play . It's an unforgivable crime . Even 200 year

Please don’t hang yourself when Obi wins o!

We need alive to witness the leadership of an Igbo man.

You hear?

BATified2023:
igbos always prefer to learn d hard way

Did you finish the video or you don’t have data?

Out of over 30 persons interviewed, only one person chose Atiku and none chose Tinubu.

So on Election Day, you people will go and put a gone on their head and ask them to vote Tinubu?

Na una go learn this time around.

SmartyPants:
We dont have any where enough dollars to change all the hoarded naira.

And contrary to what you might think EFCC is watching the Bdc guys. Today, for example, across the nation black market traders have been raided.

Are you not aware?

Don’t mind these funny characters.

They keep seeing dirty everywhere in Nigeria. According to them, nothing can ever work in Nigeria and this policy will yield no single result.

They don’t know that CBN and EFCC know whatever they think they and corrupt politicians know.

socialmediaman:
Bureau de change runs multiple accounts at various banks in Nigeria and they're allowed to do exchanges of any size however they want. When they exceed the daily limit of cash allowance, they pay tax over the free daily limit. No questions asked. They're doing business

Guess what? The people who are supposed to question them are the ones hiding all the money. It was stolen from public funds, they're the same people running public institutions

Now look at it this way…

Can you count how much illicit billions of naira that is stashed in Lagos alone for instance or Kano or Kaduna?

Now, this is by different people. Do you not think that the BDCs will be overwhelmed with such transactions and it’s also possible that CBN has laid siege for them because CBN knows that BDCs are likely going to be the conduit pipe for people to spend their stashed cash.

Daviddson:
So what's the rationale behind your comment, because you're saying two opposite things at the same time?

What are the two things I’m saying, lemme understand.

Tareq1105:
During 2019 election, one politician shared #10,000 each to people and the wrappers of the money still carry Oceanic Bank.

My goodness!

You can imagine

Hmmm

dettolgel:
Why would you do that? Even if you do bdc operators have insider in banks. Bros this is Naija if you know your way you can pull it off by just giving up 10 pc of the cash.

There’s something someone said…

As of the time that CBN made that announcement, CBN knows how much volume of cash that each bank has.

So, if all of a sudden, a bank’s cash balance skyrockets exponentially without the bank reporting those transactions, then the bank will run into trouble.

The Nigerian financial system is now too digitalized for things to go the way you think.

dettolgel:
If you are talking of billions I may agree with you a bit. But 100million come on. 2 million go to 50 different BDC or 5 million with 20 BDC. You can get it all done within 3 weeks.

Of course, I was talking of you giving one BDC 100million naira once. How would he deposit?

BATified2023:
so Peter obi didn’t steal money?
Sorry I forgot he’s an angel


So one day an Igbo hater could hail buhari

See, I’m not a brainless critique like some of you.

I’m a servant of reason!

I don’t criticize what is reasonable just for the sake of criticism.

If the policy is good, why criticize it?

“We will deliver Anambra for Atiku”, support group vows.

Brainless idiots