₦airaland Forum

So this man ex taraba governor is accused of stealing 27 billion naira. About 140 million pounds. Where do these people keep these money ? Most banks will only give you like 2 million naira at most if the bank fails so it makes no sense to keep 27 billion naira in one bank account. How mAny bank accounts will you need ? Like 1000 bank accounts to safely keep such amount. I know nobody hAs the energy to open 1000 bank accounts so when they say someone has stolen billions of dollars where do they keep it ? Those off shore accounts are not safe too for example they said when wigwe died many millions of dollars of Dapo abioduns money died with him in his offshore accounts. It seems it's hardwork keeping these huge volumes and it's only a matter of time before an institution closes and takes it from you. You can't get FDIC refund of more than 80 thousand dollars on a deposit of 500 million dollars. Seems like too much risk keeping such volume in one institution and it's hardwork opening 1000 accounts and yet you can't keep such volume in your house so how do they do it ? Are these huge stolen amounts just fictional imaginations of someone's mind ? Like someone steals 10000 dollars and Nigerians say he stole 10 billion dollars ? You know our people like to lie and exaggerate

Nlfpmod
Seun
Mynd44

They couldn't arrest a well known thief like yahaya bello. Na gentle man like ishaku they want to disgrace because he is a Christian.

Most are invested in properties and abroad properties and expensive shopping. Also some of it are shared with few other folks

As a government, the bank can give you such money. All you need is to tie the funds to a project that will be executed by a company or companies. Also it’s not done in one tranche, it accumulates over time. Remember every state government get federal allocations and also they take loans.

Storing the money is pretty easy, they just convert a large sum to foreign currencies, also it’s done over a period of time. The rest of the cash maybe invested in real estate which they can in turn sell in the future to get back the cash equivalent.

diamond68:
So this man ex taraba governor is accused of stealing 27 billion naira. About 140 million pounds. Where do these people keep these money ? Most banks will only give you like 2 million naira at most if the bank fails so it makes no sense to keep 27 billion naira in one bank account. How mAny bank accounts will you need ? Like 1000 bank accounts to safely keep such amount. I know nobody hAs the energy to open 1000 bank accounts so when they say someone has stolen billions of dollars where do they keep it ? Those off shore accounts are not safe too for example they said when wigwe died many millions of dollars of Dapo abioduns money died with him in his offshore accounts. It seems it's hardwork keeping these huge volumes and it's only a matter of time before an institution closes and takes it from you. You can't get FDIC refund of more than 80 thousand dollars on a deposit of 500 million dollars. Seems like too much risk keeping such volume in one institution and it's hardwork opening 1000 accounts and yet you can't keep such volume in your house so how do they do it ? Are these huge stolen amounts just fictional imaginations of someone's mind ? Like someone steals 10000 dollars and Nigerians say he stole 10 billion dollars ? You know our people like to lie and exaggerate

Nlfpmod
Seun
Mynd44

Most of those stolen monies aren't kept in banks, nor are they kept as liquid cash. 80% are always invested in landed properties worldwide or they are used to establish fictitious companies or buying stocks of big companies like Apple and Tesla

Sheuns:
As a government, the bank can give you such money. All you need is to tie the funds to a project that will be executed by a company or companies. Also it’s not done in one tranche, it accumulates over time. Remember every state government get federal allocations and also they take loans.

Storing the money is pretty easy, they just convert a large sum to foreign currencies, also it’s done over a period of time. The rest of the cash maybe invested in real estate which they can in turn sell in the future to get back the cash equivalent.

That's why there are lots of empty houses in abuja. Rotting away.

OneCandleAway:
That's why there are lots of empty houses in abuja. Rotting away.

such a shame. wasting away mansions

Some are stored in underground safe.