₦airaland Forum

What's the big deal about bullion vans. Anyone can legally hire a Bullion Van if security demands so. Go to some mega churches each Sunday and you'll see bullion vans come to take tithes and offerings to the bank. Go to Canaanland etc.

Some Local Governments Councils in the interior sometimes hire bullion vans month end for salary payments. Assuming I have a farm and need to pay my workers N25m month end, I can request for my bank to bring it in a Bullion van and pay for the services. It's simple.

Its only in a backward country like ours that people see bullion vans and link it with corruption. Abroad, people use bullion vans to convey even such personal valuables like diamond necklace, rings, paintings etc. It's not a taboo folks.

If Tinubu as APC leader needs to give N10k mobilization money etc to 500 APC election monitors which is legal. He can request for N50m to be brought in bullion vans. And the will be given the money cash.
QED.

Tinubu belongs to the family of the "SAINTS"

Those stupid BMC AND APC CLUELESS ZOMBIES WONT COME UP HERE TO COMMENT RATHER THEY WOULD BE COMMENTING ON ANY RUBBISH THAT GOT TO DO WITH THE OPPOSITION! ESPECIALLY FAKE AND SUBSTANDARD NEWS AND ALLEGATIONS!

Hmmm

Learn to hide your face from hot slap. The law is for the less privilege. Who has power, has it all. This is Nigeria

Paperwhite:
Tinubu's bullion van scandal is now akin to the Gov.Umar Ganduje's babanriga dollar-bribe stuffing scandal.These are two well confirmed cases of financial fraud but the morally corruption APC govt & it's affiliate hypocritical lapdogs(EFCC, ICPC, FIU, DSS etc) have as usual kept an annoying silence on this issue.

Did you even bother to read?? How is having billions in your house "a well confirmed case of financial fruad"

Lol...you sha wantu talk!

MajorJeffery:
In the eyes of Buhari, Tinubu is not corrupt so stop wasting your time analyzing nonsense.

Same way Abacha was not corrupt in the eyes of Buhari...�

allthingsgood:
Only stupid people question this bullion van. How many times does Obasanjo, atiku or Babangida goes to bank Smh
These pple are the bank themselves. So rather than waste time hating them stupidly, u better intensify your hustle

but we never see or witness them bringing bullion van to their houses.you no get sense

Premised on the fallacious position that “spend my money as I like “ necessarily translates to the illegal! Hmmm!

this man. kai


he doesnt want to go away.



https://www.youtube.com/watch?v=tRBItAt2HHM

allthingsgood:
Only stupid people question this bullion van. How many times does Obasanjo, atiku or Babangida goes to bank Smh
These pple are the bank themselves. So rather than waste time hating them stupidly, u better intensify your hustle

But you call others thief?

We worry over unnecessary things.

Is the Van loaded with cash?

Is Tinubu now Alhaji Adedubu?

Will Tinubu by himself be DIRECTLY giving people money?

Where are his front soldiers?

Where are his ward chairmen?

People of his status will NEVER be actively involved in sharing money.

Did Tinubu laundered your father’s money or which government is Tinubu supervising to be accused of laundering money ?

lekbel09:
have sense for once Na,nothing tribal in the fact that tinubu launders money

Does that stop the fact that the trio of Ugwauyi Umahi n Ikpeazu are failures without a single project to show for 4 year allocation. Shameless pigs ! [quote author=NkayStory post=76392248

Frustrations at its peak [/quote]

chilan:
Tinubu’s Bullion vans in the eyes of the law
................................................

On 22nd February 2019 being the eve before Nigeria’s 2019 Presidential election, a couple of bullion vans were sighted entering the official residence of the National leader and Co-chairman of the Presidential Campaign council of the All Progressives Congress (APC), Mr. Bola Ahmed Tinubu. Speculations were rife that the bullion vans were conveying cash that would be used by the party chief for the election.

These speculations (as to the contents of the bullion vans and their mission in the house of the APC National leader) were brought to the attention of the APC National leader himself the following day at the polling booth where he went to cast his vote. A journalist asked him what the bullion vans were doing in his house a night before the presidential election. In his answer, the APC national leader said:

…If I have money to spend in my premises, what’s your headache? If I don’t represent any agency of the government and I have money to spend, if I like, I give it to the people for free of charge as long as not to buy votes. Who are those watching my house and looking at Bullion vans?

In view of the above comments of the APC national leader, it is good to examine the position of the law as regards to an individual having enormous cash in his possession and deciding to spend it however he likes.

It is pertinent to note first that in Nigeria, no law forbids one from having in his house as much cash as he could lawfully earn or receive from genuine sources. What the law actually and vehemently forbids is one’s decision to spend it in a manner he likes. Nigeria’s criminal laws forbid one from using his money for illegal actions and even in legitimate transactions, the Money Laundering Prohibition Act 2012 specifies how payment of such legitimate transactions should be made. That law specifies that cash payment above a particular amount must be made or received through a financial institution.

For individuals, the law is that all payments made or received by anyone in excess of five million naira ($13,736 at the current rate of N364 per dollar) must pass through a financial institution; while for a company, it is ten million naira ($27,473 at the current rate of N364 per dollar). What this means is that while one can decide to save his money in his house, any payment from that money to another person in excess of five million naira must pass through a financial institution. It also means that if one has decided to be his own banker and save his money himself, he must not receive in one transaction, cash exceeding five million naira. Anything short of these makes one liable for the crime of money laundering.

Having said these, so what actually are the squabbles about Tinubu’s billions in the Bullion vans?

First of all, for the fact that the billions arrived through bullion vans presupposes that the cash came from the banks. So nothing is wrong with him receiving billions in cash through the banks. However where the problems lies is when he decides to give out cash in excess of five million naira to anybody without making the payment through a financial institution. Section 1 of the MONEY LAUNDERING (PROHIBITION) ACT, 2011 forbids him from doing so and in fact makes it a crime punishable by a forfeiture of an amount not less than 25% of the excess cash given.

Secondly, if the APC party leader decides to spend all that his money in the bullion vans in a way and manner not antagonistic to the law, he is free to do so.


Written by Lawrence C. Nnoli, a lawyer based in Lagos, Nigeria

http://www.excellawchambers.com/tinubus-bullion-vans-in-the-eyes-of-the-law/

so after all this grammar, if tinubu open the bullion van and you see pepper and tomato nko, you'll have to devise a new mathematics

Paperwhite:
Tinubu's bullion van scandal is now akin to the Gov.Umar Ganduje's babanriga dollar-bribe stuffing scandal.These are two well confirmed cases of financial fraud but the morally corruption APC govt & it's affiliate hypocritical lapdogs(EFCC, ICPC, FIU, DSS etc) have as usual kept an annoying silence on this issue.

You forgot to add the incident at Murtala Mohammed international airport, where a small plane meant to convey bags of money couldn't take off. One of the bags got damaged and spilled it's content: bales of cash.
This was also days before the election. APC officials were escorting the money.

swagifted:
so after all this grammar, if tinubu open the bullion van and you see pepper and tomato nko, you'll have to devise a new mathematics

Baseless premise.
He didn't open the van. So, your argument is null.
Na for your village dem dey use bullion van transport pepper and tomato?

chilan:
Tinubu’s Bullion vans in the eyes of the law
................................................

On 22nd February 2019 being the eve before Nigeria’s 2019 Presidential election, a couple of bullion vans were sighted entering the official residence of the National leader and Co-chairman of the Presidential Campaign council of the All Progressives Congress (APC), Mr. Bola Ahmed Tinubu. Speculations were rife that the bullion vans were conveying cash that would be used by the party chief for the election.

These speculations (as to the contents of the bullion vans and their mission in the house of the APC National leader) were brought to the attention of the APC National leader himself the following day at the polling booth where he went to cast his vote. A journalist asked him what the bullion vans were doing in his house a night before the presidential election. In his answer, the APC national leader said:

…If I have money to spend in my premises, what’s your headache? If I don’t represent any agency of the government and I have money to spend, if I like, I give it to the people for free of charge as long as not to buy votes. Who are those watching my house and looking at Bullion vans?

In view of the above comments of the APC national leader, it is good to examine the position of the law as regards to an individual having enormous cash in his possession and deciding to spend it however he likes.

It is pertinent to note first that in Nigeria, no law forbids one from having in his house as much cash as he could lawfully earn or receive from genuine sources. What the law actually and vehemently forbids is one’s decision to spend it in a manner he likes. Nigeria’s criminal laws forbid one from using his money for illegal actions and even in legitimate transactions, the Money Laundering Prohibition Act 2012 specifies how payment of such legitimate transactions should be made. That law specifies that cash payment above a particular amount must be made or received through a financial institution.

For individuals, the law is that all payments made or received by anyone in excess of five million naira ($13,736 at the current rate of N364 per dollar) must pass through a financial institution; while for a company, it is ten million naira ($27,473 at the current rate of N364 per dollar). What this means is that while one can decide to save his money in his house, any payment from that money to another person in excess of five million naira must pass through a financial institution. It also means that if one has decided to be his own banker and save his money himself, he must not receive in one transaction, cash exceeding five million naira. Anything short of these makes one liable for the crime of money laundering.

Having said these, so what actually are the squabbles about Tinubu’s billions in the Bullion vans?

First of all, for the fact that the billions arrived through bullion vans presupposes that the cash came from the banks. So nothing is wrong with him receiving billions in cash through the banks. However where the problems lies is when he decides to give out cash in excess of five million naira to anybody without making the payment through a financial institution. Section 1 of the MONEY LAUNDERING (PROHIBITION) ACT, 2011 forbids him from doing so and in fact makes it a crime punishable by a forfeiture of an amount not less than 25% of the excess cash given.

Secondly, if the APC party leader decides to spend all that his money in the bullion vans in a way and manner not antagonistic to the law, he is free to do so.


Written by Lawrence C. Nnoli, a lawyer based in Lagos, Nigeria

http://www.excellawchambers.com/tinubus-bullion-vans-in-the-eyes-of-the-law/

oga lawyer go n slip..

me as an ordinary man cannot or don't have da guts to travel with 2.5 million naira by flight .. I would b held, bfr u know it u find ur self in Efcc net....

but huncle wasn't even question..
kwaruption at its best

Why is it a day before Election you became a giver of money Prodigal Leaders nobody owns the world, if the children of David suffered the sin of their father, what make u think it will not come to yours?��

The rules are different when it comes to Tinubu.

cardoctor:
The rules are different when it comes to Tinubu.

^^^^
^^^^
"Is It Your Headache?" - Tinubu Reacts To Bullion Van In His House (Photos, Video)
https://www.nairaland.com/5042551/it-headache-tinubu-reacts-bullion



The movement was done in broad day light so how is that anybody's
business really? If there was anything illegal, the bullion vans would have
moved in the night without anybody seeing them.

Was there even money in those bullion vans?

Bullion vans are NOT used to move only money. Other precious
valuables are moved with bullion vans!

People should stop this ridiculous and defamatory speculations
about whether it is money that is in there or not! It makes these
people attacking him to appear like they are envious of the man's
legitimate wealth. The man was already a multi-billionaire
even before he became the governor of Lagos State
in 1999. Asiwaju Bola Ahmed Adekunle Tinubu is a very brilliant
Chartered Accountant who worked with Arthur Andersen
in Chicago, USA and Mobil Oil Nigeria as a Finance expert!

These folks should go and make there own money too... they
can even be richer than Tinubu if they are focused and
learn some business sagacity from him and other business
icons around the world.




Background
Bola Ahmed Adekunle Tinubu,(Jagaban of Borgu) was born on 29 March 1952 in the city of Lagos, Nigeria.
He attended St. John's Primary School, Aroloya, Lagos and Children's Home School in Ibadan, South West of
Nigeria. Tinubu then went to the United States in 1975, where he studied first at Richard J. Daley College in
Chicago, Illinois, and then at Chicago State University. He graduated in 1979 with a Bachelor of Science
degree in Accounting.[2]


Tinubu worked for the American companies Arthur Andersen, Deloitte, Haskins, & Sells, and
GTE Services Corporation.[3] After returning to Nigeria in 1983, Bola Tinubu joined Mobil Oil
Nigeria, and later became an executive of the company.[4]
Source: https://en.wikipedia.org/wiki/Bola_Tinubu

Bobby4090:
What's the big deal about bullion vans. Anyone can legally hire a Bullion Van if security demands so. Go to some mega churches each Sunday and you'll see bullion vans come to take tithes and offerings to the bank. Go to Canaanland etc.

Some Local Governments Councils in the interior sometimes hire bullion vans month end for salary payments. Assuming I have a farm and need to pay my workers N25m month end, I can request for my bank to bring it in a Bullion van and pay for the services. It's simple.

Its only in a backward country like ours that people see bullion vans and link it with corruption. Abroad, people use bullion vans to convey even such personal valuables like diamond necklace, rings, paintings etc. It's not a taboo folks.

If Tinubu as APC leader needs to give N10k mobilization money etc to 500 APC election monitors which is legal. He can request for N50m to be brought in bullion vans. And the will be given the money cash.
QED.

Read what u just typed here again, but U have to make it slowly dis time arround maybe U will be able to comprehend d Rubbish U typed here all in d name of defending a glaring corruption.

I wonder if this will be ur comment if these (2) Bullion vans was caught to be entering Atiku, Secondus, Gbenga Daniel, or Fayose's residence on election eve. How much is #25m or #50m that u will still need d services of (2) Bullion vans in order to pay ur workers by month end when everyone can conveniently receive their salary alerts??

Nigeria still have a very long & rough way to go if d massess keep supporting this kind & similar corrupt practices from d Political elites that are our own while we begin to witchunt d opposition for d same crime or for even lesser ones.

The fact that efcc were all over PDP chieftains houses in search of cash leaving out the Tinubu shows that this country is a banana republic. People should know that nothing last forever, you could be a victim tomorrow.
What is a country without a constitution?

swagifted:
so after all this grammar, if tinubu open the bullion van and you see pepper and tomato nko, you'll have to devise a new mathematics

So na Pepper & Tomatoes Bullion vans dey carry for ur own part of d world?? Indeed, ''Wonders shall never end,.

Two(2) Bullion vans are entering d residence of a party chieftain on an election eve & some Educated Illiterates are trying to shamefully convince others that d Vans might be conveying Gold, Diamonds, Wristwatches & Necklaces, plus other Precious Stones belonging to d entire Tinubu's family for safe-guarding.

Some peoples Insanity are out of dis world whenever it comes to defending d Indefensible.

�

allthingsgood:
Only stupid people question this bullion van. How many times does Obasanjo, atiku or Babangida goes to bank Smh
These pple are the bank themselves. So rather than waste time hating them stupidly, u better intensify your hustle

sorry to say, but you are just justifying arrrant nonsense here! bullion vans entering the mansion of a ruling political party chieftain on election eve should be overlooked?? I'm a lawyer, and you are not making sense at all. even a 100 level law student will make a mince meat of this case In court. smh

Ok

This write up MUST be coming from a disoriented and uninformed attention seeking writer wanna be. This is shameful.

From the aspect of law which the writer based his submission, Asiwaju Tinubu is a National Leader of a Political Party, and a Co chairman of The Presidential Re-election committee, as such STRICT financial regulations should never be an oversight.

Imagine if it was to be an opposition, the confused eagle will be hovering in bourdillion already.

MajorJeffery:
In the eyes of Buhari, Tinubu is not corrupt so stop wasting your time analyzing nonsense.

Its their way.

Olódi lawyer, what he based his argument on holds no waters, what if Tinubu gave out less than 5m to each individual will his argument hold waters in court? That said Tinubu actually broke the law, what this olodo lawyer should have argued in is that Tinubu was mandated by law to state the purpose of such withdrawal to the bank, which the bank will in turn pass such information to the efcc and other relevant authorities e.g.FIRS, LIRS for them to capture revenue for the government for such transactions.

Had it been the house of an opposition leader, EFCC would have raided the house.