wellmax:

Guy stop this show of ignorance here on cyber space.
Do you really understand what money laundering is?

What EFCC is doing is e wa woran hoooo.

No wonder they keep loosing case. Because they only depend on media trial and not painstaking investigations

Garrithe1st:
God bless Magu...

No peace for the looters..

God bless Magu that he is incompetent to tell Nigerians how much is recovered yet he wants to be confirmed

RALPHOW:


Thank you, a country where judge said 500Million in the account of another judge is not evidence of corruption.

how is that illegal abeg efcc and it's crappy investigations owning 500m is not an offence if there is no direct complainant if you are into good real estate business you can defend that money anywhere this is the last we would here of these money the other one that was stolen from a bdc in legico plaza which they claimed they discovered all I saw in their action was breaking into someone's office and stealing money found there I pray the bdc owner will sue their sorry asses and they also did not talk about the other monies their officers stole from there

goldedprince:
wtf man. so person no fit make money again. thats even chicken change . man poverty is the highest disease. atimes i regret being a nigerian.
so if i suffer get my money, someone go come talk shit simply because i money wey him poor generation no go ever get?
this shit is getting so annoying

Loud mouthed pauper. Rich people know the procedure to change such an amount of money. No economy can survive with such amount of foreign currency being bought.
This is money laundering nipped in the bud.

davodyguy:
I don't want genuine business men to be arrested o.
However, who does millions in cash transaction these days?

What's bank transfer for?
Maymnbe EFCC are right chasing people with huge chunk of cash

I guess he wanted to deposit it into his domiciliary account

Where is the picture of people they apprehended ?

Buh those 50# note no exist for my side how come..
hope say protection dey for this whistle blower coz next week u go hear say someone was killed by armed men..that 9ja for you

deomello:



It doesn't matter what evidence you have, you have no case before the corrupt Nigerian judiciary.

Stop blaming the efcc for the Nigerian crooked and corrupt judiciary.

It's too early to bring it to the media. Complete investigation. Gather facts before coming to an media. The same corrupt judiciary jailed Tafa Balogun and other high profile looters in the past.

olapluto:

Loud mouthed pauper. Rich people know the procedure to change such an amount of money. No economy can survive with such amount of foreign currency being bought.
This is money laundering nipped in the bud.

shut it there, any economy that cant survive with that kaind of amount being bought, THAT ONE NA ECONOMY

The issues here are:
1. Money laundering. This sum is above value that can be carried about without it been reported by financial institutions as STR.
2. BDC by their operations are restricted to Invisible transactions. And known invisibles have limits of $4000/$5000 for PTA/BTA etc

Efcc now going to peoples offices and stealing money from them what were they expecting to see in a bdc before wood abi .250m recovered in a bdc located in a busy district does not sound illegal to me very soon they will start going house to house seizing pot of stew prepared with beef nonsense .anyways I don't blame them even if you sue them and win you will never get paid damages is that suppose to be our priority in Nigeria now

sarrki:
I believe strongly that wailers are not happy with this news

That should be April salary for them

Get a life. . .
You are poor and depressed.
. . . I know I am correct about these.

drake2000x:
I don't understand....is it against the law for BDC to change that kind of money? Then what's the purpose of BDC if they keep arresting people changing money with them? If you don't BDC, a legal financial institution by the way, then abrogate the institution to stop all these nonsense. Personally I think they are responsible for the dollar scarcity...via hoarding

The right questions are
1. Where did the people changing the money got the cash they are changing from?
2. In a cashless society, why not transfer the money through the banks?
3. Even if the money is drawn from a bank, did the bank informed the right authorities that such large cash was been drawn as the law stipulated?

While there is nothing wrong with buying foreign currencies from the BDCs, it should not be an excuse for money laundering - which is what our corrupt leaders and bunch of looters are busy doing. There is the fear of keeping their loots in the banks now, so all they are doing converting to foreign currencies and taking the money abroad.

The net effect of this is that you and I suffer doubly - stealing of our commonwealth that would have gone to development of the country and non availability of forex in the BDCs for genuine buyers.

Simple law of economics states that, with supply constant, the higher the demand (from looter + genuine buyers), the higher the price. The higher the price of Forex, the more our economy that import based crashes.

So think very well before supporting the looters - except you are closely related and gaining from the looting, we will all suffer from their actions.

Good news. But it shouldn't stop here.

Who owns the money? Through what means? The changed foreign currency is for what purpose? etc. These are the questions that shou;ld be answered by EFCC.

wellmax:

You are still missing the point.

Money laundering happens mostly when people move huge amounts of raw cash outside the financial institutions sometimes with intent to embezzle or fund illegal activities.
My point is they should investigate before bringing it to the Media, I feel all these activities without any real substance is just to keep people occupied with fantasies already in their heads. Like catching all the corrupt people.. Its what we all want to see or hear so they serve it to us.. Albeit half-done.

To be honest,BDCs really wrecked Nigerian Economy from the 80s

Omo mehn,na so that whistle blower don collect percentage oh,omo make I go find whistle buy.new format activated

Unfortunately for you boss, in principle, you cannot put the blame of non conviction at the door steps of Judiciary. The owner of a case has to prove his/her case BEYOND REASONABLE DOUBTS. If a judge was present when someone was murdered, he cannot give judgements on the basis of what he/she saw happened, a prosecutor/plaintiff still has to present proofs before anyone could be nailed.

The Justice system (not Judiciary only) is what is riddled with corruption, in order words the prosecutor could have been compromised too and deliberately present a weak case.

Remember Ngilari arranged bail after conviction, using Prison officials.

deomello:



It doesn't matter what evidence you have, you have no case before the corrupt Nigerian judiciary.

Stop blaming the efcc for the Nigerian crooked and corrupt judiciary.

how much do they want people to change? #100k?

BERNIMOORE:
God bless Magu that he is incompetent to tell Nigerians how much is recovered yet he wants to be confirmed

Magu till 2019..

Visit the Lagoon if you're not cool with that.

eezeribe:
See money dey waste.if na me see that kind money,I go just by Geepee tank,burry am inside.
To hell with whistle blowing policy as long as our political office holders are still having a field day with our national treasure.

ar u an idiota? Pls answer me

olapluto:

Loud mouthed pauper. Rich people know the procedure to change such an amount of money. No economy can survive with such amount of foreign currency being bought.
This is money laundering nipped in the bud.

Cool down Olu.

Balogun Market traders receives money in cash and change their cash at the BDCs.

Just like computer village, Alaba international and co

Most of them are importers​ so this is not news to me

Money they this country,

Jeesu....see money

Easter broilers for sale...holla


Patronise an hustler

Location..sango otta

Weighing 2kg and above


08119899814

LivingHuman:


Source: http://www.cambellsblog.com/2017/04/efcc-recovers-another-250-million-cash.html

Stealing from rich to feed the rich, wot a nation

macaranta:
Is it a crime to have money? Please if these monies are legitimate and the owners decide to bypass the banking system for whatever reason then this case of seeing huge sums of monies here and there is just plain dead on arrival.

am glad there are still sensible people like you here.
this fuckers here thank every rich person is corrupt.

OBAGADAFFI:


Cool down Olu.

Balogun Market traders receives money in cash and change their cash at the BDCs.

Just like computer village, Alaba international and co

Most of them are importers​ so this is not news to me

leave that poor idiot, like say na me tell am may eno hustle to remove himself from poverty.
there are some business that you actually have to deal face to face with cash.
btw, most banks aint secured any more

eezeribe:
See money dey waste.if na me see that kind money,I go just by Geepee tank,burry am inside.
To hell with whistle blowing policy as long as our political office holders are still having a field day with our national treasure.

Then what's the difference between you and them looter politicians.

Garrithe1st:
God bless Magu...

No peace for the looters..

Can you show me evidence that the owner looted the money?

goldedprince:

leave that poor idiot, like say na me tell am may eno hustle to remove himself from poverty.
there are some business that you actually have to deal face to face with cash.
btw, most banks aint secured any more

Check out ShopRite,Spar and Megaplaza, this guy's make millions in cash everyday. And they don't move everything to the bank.

They simply use that cash to buy more forex for importation porpose..

Balogun Market generation in Billions daily

OBAGADAFFI:



Check out ShopRite,Spar and Megaplaza, this guy's make millions in cash everyday. And they don't move everything to the bank.

They simply use that cash to buy more forex for importation porpose..

Balogun Market generation in Billions daily

i wish every Nigerian reasoned like you.
it just dosnt make sense to assume every large amount of cash you see is fraud cash.
i hope idiots in this forum learn from u