The picture of a Nigerian who went to a bank to deposit $500,000 (N220 million) has caused a stir on social media

.The unidentified man allegedly took the money to the bank as CBN made moves to redesign the naira.

. Rumours of the US purportedly saying it would reject certain denominations of dollars are causing panic.

A Nigerian man caused a stir in one of the new-generation banks when he went to deposit $500,000, approximately N200 million.

The picture of the unidentified man circulated on social media has left many asking 'God when.'

A breach of Money Laundering Act?

The picture was taken in an unknown bank in Nigeria and has left many bewildered about why such an amount of dollars would be hoarded or kept by an individual.

is not clear if the person had violated the money laundering act as Nigeria grapples with dollar scarcity which previously led to the crash of the naira.

Last week, the Central Bank of Nigeria reportedly pulled $1.8 billion from the external reserves to shore up forex liquidity, leading to a decline of the reserves.

One person responded: "Don't envy him. Do you know if he might be a kidnapper, terrorist or bandit? They are the ones rolling in ransom dollars now".

According to Yishau, the rumour that the US cautioned that some of its denominations printed on certain years, especially those below 2021, won't be accepted has spurred many into flooding the markets with the dollar.

A currency trader in Lagos, Ishaya Abdul, said that currently, there are so many dollars in the market. He said many forex traders are disposing of the dollars as the purported threats by the US swirl around. He said: "What is happening now is that most FX traders are releasing the dollars they have hoarded in the past. Right now, the dollar is crashing very fast."

Corrinthians:
I don't see why such a man shouldn't taken in for questioning.

Oxb90:
I am beginning to enjoy this drama.
Thank you, America for coming to save the NAIRA

Oxb90:
I am beginning to enjoy this drama.
Thank you, America for coming to save the NAIRA

DonNeon:
Omo..... people are rich sha.....

This one go still join people dy shout Sapa and shege all in the name of cruise.

Anyone around Benin city here should help me with a job Biko....

As a student man gats survive oo

Alusiizizi:


How is your yam pounding skills? I can direct you to one "Food-Is-Ready" that I know in Benin.

DonNeon:


Thank you.... I'm used to pounding fufu not yam though..... Is the location around ugbowo axis??

Acidosis:


I hope you know the current rate of your Naira against the dollar? The fake news from the "US Embassy on Nairaland" could not sustain the Naira for 3 days. Naira has gone back to where it was a day before una fake news.

Unrepentant fake news peddlers.

Alusiizizi:


It's close to there. Here are the terms of employment.

Daily wage: #200

Duties:
Pound yam and fufu
Wash plates
Sweeping and cleaning
Stir garri in big pot.

Hours: 5am to 9pm

Are you up to it?

asanausana91:
pained ipobian. Go fck yourself , Naira is gaining.

Alusiizizi:


It's close to there. Here are the terms of employment.

Daily wage: #200

Duties:
Pound yam and fufu
Wash plates
Sweeping and cleaning
Stir garri in big pot.

Hours: 5am to 9pm

Are you up to it?

Ireportlive:
Buhari obviously know the elite very well