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EFCC Confiscates Over $6 Million From Bureau De Change Operators - Business (2) - Nairaland

Nairaland Forum / Nairaland / General / Business / EFCC Confiscates Over $6 Million From Bureau De Change Operators (28342 Views)

Falling Naira: EFCC Raids Bureau De Change Firms / Bureaux De Change Join CBN’s Battle Against Illegal FOREX Dealers / Emefiele’s Policy Somersault On Foreign Exchange, Bureau De Change (2) (3) (4)

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Re: EFCC Confiscates Over $6 Million From Bureau De Change Operators by stutored: 2:34pm On Nov 16, 2022
Failed country
Re: EFCC Confiscates Over $6 Million From Bureau De Change Operators by Aufbauh(m): 2:35pm On Nov 16, 2022
lrman:


Dollar is now 801naira per dollar...

One of them spotted!
Pls what's your excitement or gain if dollar is rising and affecting ur living standard?
You just wants to prove a point and still be wailing.

4 Likes 2 Shares

Re: EFCC Confiscates Over $6 Million From Bureau De Change Operators by Lightorder: 2:35pm On Nov 16, 2022
Aufbauh:
This news is a very good development. However you can imagine that some Nigerians won't like this news.
you will like it because you are dumb and gullible.. i will bet it with all I have that if there was any confiscation , the money has been returned to the owners by now

5 Likes

Re: EFCC Confiscates Over $6 Million From Bureau De Change Operators by Acidosis(m): 2:36pm On Nov 16, 2022
imam07:
See this. Because is affecting u abi. Economist

The direct impact of EFCC's raid affects only a few elite (less than 10 people) but the impacts affect you and over a million others.

1 Like

Re: EFCC Confiscates Over $6 Million From Bureau De Change Operators by Peppysco: 2:37pm On Nov 16, 2022
PlayMaker14:
$6million? Wow!!!

I know one Iragbiji bullion van ambassador who might want to use these ungoverned operators in the forex sector to help him out in this campaign period....

He did it before at his burdillion residence, he can do it again if he's not closely watched.

Whoever you support, you're obviously doing more harm than good to him cos of this your warped mentality. You lots are indirectly gaining sympathy votes to other candidates with these your methods of campaign. I'll advise you guys to continue, only time will tell

5 Likes 1 Share

Re: EFCC Confiscates Over $6 Million From Bureau De Change Operators by lrman(m): 2:38pm On Nov 16, 2022
Aufbauh:


See one of them

The fact remains that dollar is now 801naira per dollar..and it will get to 1000naira per dollar before Xmas...it is reality and not myth..a country where his government is a failure, a country where 90% of products are imported , a country where politicians keeps making an increased demands for dollars while those that need it genuinely for business do not have access to it , a country where there is no good manufacturing industry that is working..what do you expect to happen to the currency of such country?? But many of you do not like to hear the truth and reality on ground..you prefer lies of how dollar will turn to 100 naira..

2 Likes

Re: EFCC Confiscates Over $6 Million From Bureau De Change Operators by md4u2: 2:38pm On Nov 16, 2022
This will lead to more dollar demand in the xchange market. with these 1 dollars can be sold for #1000,,,, because there are higher demand of dollar

1 Like

Re: EFCC Confiscates Over $6 Million From Bureau De Change Operators by lrman(m): 2:38pm On Nov 16, 2022
Aufbauh:


One of them spotted!
Pls what's your excitement or gain if dollar is rising and affecting ur living standard?
You just wants to prove a point and still be wailing.

Idiot..the point is that your rubbish government have failed its citizens.. stop acting like you are sick in the head...

3 Likes

Re: EFCC Confiscates Over $6 Million From Bureau De Change Operators by PlayMaker14: 2:39pm On Nov 16, 2022
Peppysco:


Whoever you support, you're obviously doing more harm than good to him cos of this your warped mentality. You lots are indirectly gaining sympathy votes to other candidates with these your methods of campaign. I'll advise you guys to continue, only time will tell

1 Like

Re: EFCC Confiscates Over $6 Million From Bureau De Change Operators by jamace(m): 2:39pm On Nov 16, 2022
fk001:
Had it been BDC operators were from Igbo extraction, those IPOB demented zombies won't let us hear words, they will start shouting marginalization and witch hunting. Bunch of emotional cry babies

I visit BBC hausa page on FB regarding this news, most of the Northerners are hailing EFCC for a job well done
Why do you think BDC is mainly operated by people from a section of the country? Because they have access to national treasury, including CBN.

Vote wisely, my brother.

Re: EFCC Confiscates Over $6 Million From Bureau De Change Operators by fk001(m): 2:43pm On Nov 16, 2022
jamace:
Why do you think BDC is mainly operated by people from a section of the country? Because they have access to national treasury, including CBN.

Vote wisely, my brother.


So am I safe to say lagos ports give more access to igbos just because igbos control the spare market business and some import business?


BDC business is open to all is just the matter of dominance

Just like you will hardly see Yoruba or hausa guy in spare part business.

3 Likes 1 Share

Re: EFCC Confiscates Over $6 Million From Bureau De Change Operators by Aufbauh(m): 2:44pm On Nov 16, 2022
Lightorder:
you will like it because you are dumb and gullible.. i will bet it with all I have that if there was any confiscation , the money has been returned to the owners by now

Look at this one who can not properly composed a sentence well calling someone who can lecture him in all ramifications ode.

Your reasoning and submission alone tells more about how backward, myopic and frustrated you are.

Pls look elsewhere as I am not one of ur regular contemporaries you can troll.

2 Likes 1 Share

Re: EFCC Confiscates Over $6 Million From Bureau De Change Operators by BannedUser: 2:47pm On Nov 16, 2022
imam07:
See this. Because is affecting u abi. Economist

He's just stating a fact. The law of supply and demand tells you that their actions will worsen the exchange rate. Really, common sense isn't common.

3 Likes

Re: EFCC Confiscates Over $6 Million From Bureau De Change Operators by Ken4Christ: 2:48pm On Nov 16, 2022
My issue with EFCC is that recovered loots are never accounted for. It ends up being relooted.
Re: EFCC Confiscates Over $6 Million From Bureau De Change Operators by BigYash: 2:48pm On Nov 16, 2022
See as the officers fresh.. Them don chop bribe tire. And na only aboki dey stay d top positions. Where is supa cop and mugu sef? These people just dey fool Nigerians
Re: EFCC Confiscates Over $6 Million From Bureau De Change Operators by Anfieldboss: 2:52pm On Nov 16, 2022
Northern elites dey enjoy Nigeria chai......see as them fresh.....two young men in their prime with juicy job positions. Little wonder you hardly see Northern elites wanting to japa.

1 Like

Re: EFCC Confiscates Over $6 Million From Bureau De Change Operators by Peppysco: 2:53pm On Nov 16, 2022
[quote author=PlayMaker14 post=118440790][/quote]

Re: EFCC Confiscates Over $6 Million From Bureau De Change Operators by Nobody: 2:55pm On Nov 16, 2022
crossfm:
Hehehe.

They should be persecuted immidiatly.

What Grade did you have in English Language in WASCE, the West African School Certificate Examinations? I don't understand the meaning of "persecuted" here! Or, did you mean "prosecuted"? And the spelling of IMMEDIATELY is not clear to me the way you wrote it: immidiatly?
Re: EFCC Confiscates Over $6 Million From Bureau De Change Operators by Gabbriell: 2:55pm On Nov 16, 2022
lrman:


Dollar is now 801naira per dollar...

A country with 90% imports and 10% exports.how will its currency be strong??.....all these raiding is not the solutions to the problem...

1 Like

Re: EFCC Confiscates Over $6 Million From Bureau De Change Operators by bizzibodi(m): 2:56pm On Nov 16, 2022
It will be foolishness if those abokifx votes for APC in this coming presidential election.
Re: EFCC Confiscates Over $6 Million From Bureau De Change Operators by chukwuma234: 3:00pm On Nov 16, 2022
lrman:


Dollar is now 801naira per dollar...

A country with 90% imports and 10% exports.how will its currency be strong??.....all these raiding is not the solutions to the problem...

Liar. Stop using Binance exhange rate fool

2 Likes

Re: EFCC Confiscates Over $6 Million From Bureau De Change Operators by BluntCrazeMan: 3:00pm On Nov 16, 2022
I created a topic about this fraudulent activities of the BDCs earlier.
https://www.nairaland.com/7375097/foreign-exchange-black-markets-these-main



But the mods didn't move it to front page..

Thank God EFCC operatives still vindicated my thought process.

Now,, I can officially say that the mods on Nairaland are daft and dumb at the same time.
Re: EFCC Confiscates Over $6 Million From Bureau De Change Operators by lrman(m): 3:00pm On Nov 16, 2022
Gabbriell:



They are telling you the dollar rate on the parallel market where you can buy and sell Dollar.. this one is busy quoting CBN rate via Google...go to any bank and collect the dollar at 415naira na...I am waiting... grin grin

Tell your bank you need dollar at 415naira... grin
Re: EFCC Confiscates Over $6 Million From Bureau De Change Operators by lrman(m): 3:01pm On Nov 16, 2022
chukwuma234:


Liar. Stop using Binance exhange rate fool

Idiot why not tell your father to go and get dollar at 415 naira and let's see where it is possible.. how old are you people sef...some of you are senseless and so gullible and obviously an illiterate ..

Go to anywhere to exchange naira to dollar or dollar to naira..and tell them the rate is 415 naira.. if they do not stone you to death , e go remain small... grin grin

2 Likes

Re: EFCC Confiscates Over $6 Million From Bureau De Change Operators by ZombieSlayer1: 3:01pm On Nov 16, 2022
fk001:
Had it been BDC operators were from Igbo extraction, those IPOB demented zombies won't let us hear words, they will start shouting marginalization and witch hunting. Bunch of emotional cry babies

I visit BBC hausa page on FB regarding this news, most of the Northerners are hailing EFCC for a job well done
More than 200 ethnic groups in this country but you can't stay 1 day without mentioning Igbo.
It seems that tribe is so great that they give you nightmares
Re: EFCC Confiscates Over $6 Million From Bureau De Change Operators by Angelfrost(m): 3:01pm On Nov 16, 2022
Aufbauh:
This news is a very good development.
I've always perceived the continued abnormal exchange rate in this Buhari's administration to be artificial and insubstantial.

However you can imagine that some Nigerians won't like this news, not necessarily because they're beneficiaries of looted funds but don't want Nigeria to succeed under certain administration. Pathetic!

Such Nigerians that wish their nation to fail are already accursed...

1 Like

Re: EFCC Confiscates Over $6 Million From Bureau De Change Operators by djseanjohn77: 3:02pm On Nov 16, 2022
Ekejoestar:
6 million dollars is like a chicken change to someone like Atiku and when changed to naira will only contain half of thiefnibu bullion van, so it's still a change.

Raid burdilluon street and Atiku's Dubai home and secure our common wealth.


Someone that has never govern your state before, nor held any federal position before - you see where your hatred is leading you.......First arrest the thieves in your state, before you come and shook mouth in Lagos matter - he stole, so what, he stole Lagos money, generated through is effort in expanding the state economy, so he succeeded, let your state governor even come up with initiative so they too can have bigger IGR to steal from.

1 Like

Re: EFCC Confiscates Over $6 Million From Bureau De Change Operators by tyinfinity: 3:04pm On Nov 16, 2022
One importer called Pandora obituary is one of those doing these economic sabotage .OSU peter are a saboteur

2 Likes

Re: EFCC Confiscates Over $6 Million From Bureau De Change Operators by wolebest: 3:05pm On Nov 16, 2022
nlfpmod:


https://m.facebook.com/story.php?story_fbid=pfbid0xyDEWZxSFqGnSSKRTwwgVENQHxRQFsf3izFSgrdo7zCuv1PFh4wZF8B89eAigjsdl&id=100064596373289

I have spent over five decades and Nigeria is my country. Since the 80's the Naira has never appreciated against the US dollar.

Running after BDCs will not solve the problem.

The Nigerian appetite for USD is insatiable and our export proceeds are very low.

1 Like

Re: EFCC Confiscates Over $6 Million From Bureau De Change Operators by benjaminlawson(m): 3:18pm On Nov 16, 2022
Why can't we eliminate this people from market, and ensure that all foreign exchange transactions must be conducted through the money deposit banks, with proper record of who gets what. This will minimise the problem, but in a situation whereby someone will walk into a black market with billions of naira and exchange it for millions of dollars without identity gives room for malpractices.

1 Like

Re: EFCC Confiscates Over $6 Million From Bureau De Change Operators by Ckonnet: 3:27pm On Nov 16, 2022
Chasing shadows as usual!!
Address the fundamentals and everything will be normal.
Re: EFCC Confiscates Over $6 Million From Bureau De Change Operators by Holuwaxheun(m): 3:35pm On Nov 16, 2022
benjaminlawson:
Why can't we eliminate this people from market, and ensure that all foreign exchange transactions must be conducted through the money deposit banks, with proper record of who gets what. This will minimise the problem, but in a situation whereby someone will walk into a black market with billions of naira and exchange it for millions of dollars without identity gives room for malpractices.

I see no reason why fx should be officially traded by BDC exchangers in the first place. But the qst we need to ask is this, why were they even allowed in the first place ? Banks even collaborate with them. Before the introduction of reduction in dollar given by banks by CBN, I remember that, whenever I go to GTB at Allen Avenu, Ikeja, the bank officials won't attend to you. Instead, they would rather deal with the Abokis by selling to them at a higher rate and then direct you to buy from the Abokis. I believe the whole black exchanger concept would have been totally abolished if some of the people in government ain't benefiting from it.

1 Like

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