₦airaland Forum

Frezhkid10:
Accepting is not a crime but refusing to accept naira for that same goods or services then becomes a crime

So u are saying if my child's school want payment in dollar and I offer them naira and they refuse is crime?

Good

JuanDeDios:
If they charge in dollars, the EFCC may do nothing. But if you take the naira equivalent there and they REFUSE, you should write to EFCC and they'd act.

Thanks for your explanation, I understand now.

When it gets to ordinary people, the EFCC will remember the law. But when it comes to rich people, the law becomes useless. EFCC should go and arrest big businesses in Lagos and Abuja that compel people to buy their goods or service in dollars. This country is sick because people living in it are mad!

Actually many of you folks are not even seeing the obscure picture here.
The Cartier bracelet is A HUGE FAKE... How can the serial number of a highly priced bracelet be 12345678.
The Precious guy has to be further investigated on this allegation of mine.

Maxymilliano:
You are arraigning him for refusing to accept naira as a means of payment for his property and yet our economy is tied to dollar exchange rate

Don't mind the clueless Tifnubu dictator regime. Tifnubu that bribed the corrupt goons who put him in power with $25000 each.

Which kind of Scapegoating is this, are Diamond and Gold valued in Naira ....Efcc you na head no correct at all at all ..Then all your Crude Oil sales should be in Naira . .. Why are you bench marking them in USD ...

THEGALADIMA:
Actually many of you folks are not even seeing the obscure picture here.
The Cartier bracelet is A HUGE FAKE... How can the serial number of a highly priced bracelet be 12345678.
The Precious guy has to be further investigated on this allegation of mine.

Very good observations, either this ridiculous news is fake or the Cartier is.

Babalegba:
Looks like many nigerians don't even know what the term legal tender means.

💯

It's finished😭😭😭😭

abc115:
Biafra man

What is he doing in Lagos? Why not stay bayin your five plots?

Nairaland should do well to open threads for kids and ethnic bigots like this one.

Do we have Biafra in Nigeria as a nation state within a state. And the man is not free to move to any part of the country, including Lagos?

They won't go to school to know all this but regal in Agberoism.

Nigeria has a long way to go with dumb characters like you.

The unpatriotic elements ruining the country.

FreeStuffsNG:
https://punchng.com/efcc-arraigns-man-for-refusing-to-accept-naira-as-legal-tender/#google_vignette

many don't understand how law is applied, if both parties agree to use foreign currency,fine ... But for either to insist on foreign currency only is an offence.

Segzy19:
See some ignorant people making comments up there. The law is the law, and it doesn't pander to your emotions or arrogance... You will calm down when the law is against you....

Are you surprised at the level of ignorance here?

Far better than Facebook though. That seems to be the habitation of the most stupid people on earth.

But if it's time to collectively quander our national resources they will do it in dollar...no more construction of roads in dollar,no more doing renovations of any sort in dollar.

CodeTemplar:
If the buyer has dollar and is willing to pay, why not allow two gentlemen deal in peace? The guy also has the option of accepting Naira equivalent and going to exchange it for dollar in black market.
It is either the seller accepts Naira and buy dollar with it, or the buyer buys dollar with Naira and pays the seller. Almost the same thing.

na so madness dey start.

Next thing you know, garri seller too will be demanding dollar.

GanagiBitrus:
Funny case.

Let's assume I have a Gold Bar for sale valued at $1000.
A buyer offers me 1600x1000=₦1.6m.
I reject it, probably because I was expecting a higher naira exchange rate because of fluctuating naira value.

I don't think there is any crime there.

The buyer could as well had gone and exchanged the ₦1.6m for $1000.

u don't get it... D buyer obviously has d money to pay but the buyer said he wants dollars, instead of d Nigerian naira.... Na there d problem come... Nothing stops him from collecting d naira and going to change it to dollars immediately

JuanDeDios:
The purpose of that law is to protect the ability of people to do transactions. Business thrives on certainty - knowing that your money will be accepted. Imaging going into a hospital in an emergency and they refuse to accept your naira because they want dollars. Someone could die. Note that selling your wares in dollars is not the offence here. REFUSING to accept NAIRA is the offence.

Legal tender (of any country) = something you CAN'T REFUSE for payment (in that country).

It's understandable for the hospital example you cited, Infact for public services.

But in this case it's a personal commodity. Like for the $1000 gold, if you offered me ₦2m or higher instead of ₦1.6m, I wouldn't refuse. So the issue may actually be the Naira conversion rate the buyer used which is unacceptable for the seller.

Frezhkid10:
He refused to!!..that refused is the word that is sending him to prison gan gan..when you refuse to collect naira when offered..it becomes a crime

What about if the other party offered him something else as a means of exchange and he accepts, meaning that the exchange transaction is based on mutual agreement? Please clarify this to me.

Buying, selling and trading in Dollars or other foreign currencies within the length and breath of Nigeria is a serious economic crime that must be severely punished to serve as a deterrent to others.


These are the evil people who continue to mount pressure on the Naira through speculation resulting to its free fall.



This guy must be used as a scapegoat without mercy!



If one was told several years ago that a time would come when our darling currency (the Naira) would fall to the extent that the CFA franc would beat it in rating, one wouldn't have believed it.



Many unscrupulous Nigerians would which that the Naira continues to fall while they smile to the bank at our collective expense.



Too bad!





@hotseat

Judolisco:
u don't get it... D buyer obviously has d money to pay but the buyer said he wants dollars, instead of d Nigerian naira.... Na there d problem come... Nothing stops him from collecting d naira and going to change it to dollars immediately

Are you implying if the buyer had offered ₦2m or ₦3m, the seller would have still rejected?
The issue looks more like unacceptable Naira conversion rate, not rejecting ₦.

But customs or so charge in dollars for clearing?

GanagiBitrus:
Funny case.

Let's assume I have a Gold Bar for sale valued at $1000.
A buyer offers me 1600x1000=₦1.6m.
I reject it, probably because I was expecting a higher naira exchange rate because of fluctuating naira value.
But I will accept ₦2m.

I don't think there is any crime there.
The issue might just be the conversion rate the buyer is using, & not necessarily that ₦ was rejected, because I would have accepted ₦2m.

The buyer could as well had gone and exchanged the ₦1.6m for $1000 if he is insisting on paying ₦1.6m.

@bolded, do you think read about cases and decide if there’s a crime or not based on intuition? The status of crime is not about morality. It’s purely based on what the law says. So how can you know if something is a crime if you don’t know what the law says about it? Do read Section 20 (5) of the CBN Act

ceejay80s:
So u are saying if my child's school want payment in dollar and I offer them naira and they refuse is crime?

Yes so far you are in Nigeria..they are not even at first to request dollars from you..

Maxymilliano:
You are arraigning him for refusing to accept naira as a means of payment for his property and yet our economy is tied to dollar exchange rate

are you sane?

GanagiBitrus:
Funny case.

Let's assume I have a Gold Bar for sale valued at $1000.
A buyer offers me 1600x1000=₦1.6m.
I reject it, probably because I was expecting a higher naira exchange rate because of fluctuating naira value.
But I will accept ₦2m.

I don't think there is any crime there.
The issue might just be the conversion rate the buyer is using, & not necessarily that ₦ was rejected, because I would have accepted ₦2m.

The buyer could as well had gone and exchanged the ₦1.6m for $1000 if he is insisting on paying ₦1.6m.

You’re diverting. What ever you want to collect is your business as much as you don’t reject Naira

GanagiBitrus:
It's understandable for the hospital example you cited, Infact for public services.

But in this case it's a personal commodity. Like for the $1000 gold, if you offered me ₦2m or higher instead of ₦1.6m, I wouldn't refuse. So the issue may actually be the Naira conversion rate the buyer used which is unacceptable for the seller.

it’s a huge crime to reject the currency of a country. On several ground, it is even part of felony. Some country would punish you greater, try this in Us and reject their currency in their country if you will find peace.

Stayingalive:
it’s a huge crime to reject the currency of a country. On several ground, it is even part of felony. Some country would punish you greater, try this in Us and reject their currency in their country if you will find peace.

You missed my point.
Are you saying if he was offered ₦3m for $1000 gold, he would have rejected it and insisted on $?
The conversion was not acceptable, not necessarily rejection of Naira.

Lol, what's this rubbish?
In the same country were many schools in Lagos, estates etc no longer accept naira but dollars? Are they saying they're not aware of those ones or what?

Rubbish!!!

GanagiBitrus:
Funny case.

Let's assume I have a Gold Bar for sale valued at $1000.
A buyer offers me 1600x1000=₦1.6m.
I reject it, probably because I was expecting a higher naira exchange rate because of fluctuating naira value.
But I will accept ₦2m.

I don't think there is any crime there.
The issue might just be the conversion rate the buyer is using, & not necessarily that ₦ was rejected, because I would have accepted ₦2m.

The buyer could as well had gone and exchanged the ₦1.6m for $1000 if he is insisting on paying ₦1.6m.

That's lay man view.! You can't transact in USD for local transactions! Even the so called 7stars hotel have stopped that practice

ZombieDredd:
You no longer "check page for free stuff".

Tinubulation don show you shege

🤣🤣

NewHe:
That's lay man view.! You can't transact in USD for local transactions! Even the so called 7stars hotel have stopped that practice

We are not talking of public places.
Am I under obligation to sell my personal $1000 worth of gold bar to you? I'll simply say I'm not selling & that's no crime.

A good lawyer will make nonsense of the case.