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Nairaland Forum / Nairaland / General / Politics / Dauda Lawal Testifies Against Magu (31579 Views)
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Re: Dauda Lawal Testifies Against Magu by frankyychiji(f): 7:49am On Jul 27, 2020 |
DelTel:He didn't need to go physically to collect the money, a bullion could be sent with security. The story is crazy if true. 1 Like |
Re: Dauda Lawal Testifies Against Magu by frankyychiji(f): 7:51am On Jul 27, 2020 |
[quote author=RuudVanNisteroy post=92149318][/quote] Abii nau ![]() |
Re: Dauda Lawal Testifies Against Magu by frankyychiji(f): 7:58am On Jul 27, 2020 |
RuudVanNisteroy:Are you surprised? The banks are always in the middle of any corrupt practice. This is not limited to dauda and his bank. |
Re: Dauda Lawal Testifies Against Magu by DelTel(m): 8:04am On Jul 27, 2020 |
frankyychiji: He would have mentioned that you know, and EFCC won't be pursuing him alone as other staffer(s) will be witness(es) and log-book entry will be made appropriately: he went alone reason he didn't deposit all the money in FBN (but also gave some, actually a large percentage of the money to another bank's ED on same Marina). The transaction was completely under the table and personal - money laundering. 1 Like |
Re: Dauda Lawal Testifies Against Magu by Webmannigeria: 8:11am On Jul 27, 2020 |
frankyychiji: Nothing to show for except the enrichment of themselves and continuous enslavement of the poor suffering masses 1 Like |
Re: Dauda Lawal Testifies Against Magu by NaijaOlosho(f): 8:12am On Jul 27, 2020 |
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Re: Dauda Lawal Testifies Against Magu by CodeTemplar: 8:12am On Jul 27, 2020 |
See figures... The Daudu Lawal dude is a clinical liar. He was made to cough out around $20m just like that because of 11 days detention. Who does that? He is lying. 1 Like |
Re: Dauda Lawal Testifies Against Magu by STENON(f): 8:13am On Jul 27, 2020 |
Another $ billion |
Re: Dauda Lawal Testifies Against Magu by frankyychiji(f): 8:15am On Jul 27, 2020 |
DelTel:I agree with totally now. |
Re: Dauda Lawal Testifies Against Magu by Xisnin(m): 8:19am On Jul 27, 2020 |
RuudVanNisteroy:That is not the cause of the crisis. Directors weren't borrowing billions because they can't. CEOs, shareholders, and politicians took the majority of the money. In some cases, it was outright frauds by CEOs. You shoudln't be asking me that question, forward it to First bank assuming you are a concerned customer with significant investment in the bank. Loan approval process is not the same for all banks even though they have similar requirements. It is wrong to assume what you don't know. Your argument would have been valid if a director of first bank alleges a foul play in the process. Even if we assume that First bank directors didn't vote to approve the loan, who is to complain? You, the CBN or the Shareholders? And if all it takes to get billions in loan is ordinary votes by directors, then what stop the directors from voting for one another? How does such vote stop fraud? You don't know the suspects net worth(regardless of the source) to assume he doesn't merit the loan. BTW, banks losing some bad loans is not some earth-shattering event in any country, at least for banks that aren't afraid of performing their economic function. 1 Like |
Re: Dauda Lawal Testifies Against Magu by dontro(m): 8:20am On Jul 27, 2020 |
Nawaaooo for my country |
Re: Dauda Lawal Testifies Against Magu by 989900: 8:21am On Jul 27, 2020 |
RuudVanNisteroy: He is lying, and bringing him in on this is a way to bungle this Magu case. |
Re: Dauda Lawal Testifies Against Magu by bkool7(m): 8:24am On Jul 27, 2020 |
gnykelly: That itself is criminal. So , if he now reveals he actually collected more from Maduake he won't be prosecuted. Does the Panel have that right? 3 Likes 1 Share |
Re: Dauda Lawal Testifies Against Magu by woleabayo(f): 8:24am On Jul 27, 2020 |
ole eba mi kigbe ole o ole 1 Like |
Re: Dauda Lawal Testifies Against Magu by 989900: 8:25am On Jul 27, 2020 |
Xisnin: GBAM! Your head dey there, bro! 1 Like 1 Share |
Re: Dauda Lawal Testifies Against Magu by AngelicBeing: 8:26am On Jul 27, 2020 |
RuudVanNisteroy:Gbam and that is why the liquid fire of God should be released on all the thieves that have raped the destiny of Nigeria, they should be visited with everlasting plagues and disasters. Amen
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Re: Dauda Lawal Testifies Against Magu by Miyachi: 8:26am On Jul 27, 2020 |
DelTel: You have to understand that a lot of informal banking relations happen between bankers and high profile customers. A customer could even request for a withdrawal to be brought to his home/office before even signing a check/ withdrawal slip. 1 Like |
Re: Dauda Lawal Testifies Against Magu by Xisnin(m): 8:26am On Jul 27, 2020 |
RuudVanNisteroy:Again, you are missing emotions with business. There is no "shame" to First bank whatsoever in this transaction. The only "shame" that can be felt by a for-profit business is losing money consistently. The summary of this is that First bank gave out a good loan which will yield profit. 2 Likes |
Re: Dauda Lawal Testifies Against Magu by onegig(m): 8:44am On Jul 27, 2020 |
Xisnin: Sorry to say but are you daft or what? Banks even though they are private owned are subject to regulatory scrutiny and are treated like public entities because they are "critical aspects" of a nation's economy. For every loan above a threshold given there are checks and balances to it. Goes against all ethics of banking if loans are paid out without due diligence. Why is the NDIC insuring bank deposits with public money if the Banks would flagrantly go against rules that can make them go under? 4bn is almost 20% of the minimum capitalisation of a bank. The fact that an ED got such is staggering. How many of such have they loaned out? That's the first red flag. Secondly that he was involved in Money laundering and the Board of the bank didn't immediately dismiss or suspend him pending the outcome of the investigation is a telling factor that they were complicit in the act let alone to avail him loans to pay the shortfall of the proceedings. His claim that he didn't know the source is not excusable for someone with such experience and understanding of the sleaze in the country. Also, if an account received any amount above a threshold they are to report it to the NFIU. Did First bank do this for the alleged transaction? If you know nothing please fuc.king keep shut. I don't go to this length but the repeated rubbish you were typing in here felt repulsive. 7 Likes 3 Shares |
Re: Dauda Lawal Testifies Against Magu by DelTel(m): 8:49am On Jul 27, 2020 |
Miyachi: Do you also understand this is Money Laundering, no matter how it is explained. Are you aware the money was not posted to any bank account. I hope you are aware only $10,000 deposit is allowed into a domiciliary account per day. Also cash transactions not even up to 1/10th of this magnitude is not allowed worldwide. 1 Like |
Re: Dauda Lawal Testifies Against Magu by Yada01(m): 8:56am On Jul 27, 2020 |
See how guys dey play with money! 1 Like |
Re: Dauda Lawal Testifies Against Magu by Nobody: 8:57am On Jul 27, 2020 |
Moon light tales. You have to borrow billions that you never stole to pay for what you never stole. Even oga ade go still drag with police b4 he go gree drop 50naira bribe, not to mention billions of naira for bail, oga Ade go die there. Moon light tales. 2 Likes |
Re: Dauda Lawal Testifies Against Magu by Researchclue: 9:02am On Jul 27, 2020 |
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Re: Dauda Lawal Testifies Against Magu by barrypro: 9:03am On Jul 27, 2020 |
OK, WE ARE WATCHING 1 Like |
Re: Dauda Lawal Testifies Against Magu by Askme2020(m): 9:04am On Jul 27, 2020 |
RuudVanNisteroy: oh is that so... now it is getting more clearer 1 Like |
Re: Dauda Lawal Testifies Against Magu by Smartfix: 9:05am On Jul 27, 2020 |
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Re: Dauda Lawal Testifies Against Magu by Askme2020(m): 9:06am On Jul 27, 2020 |
RuudVanNisteroy:abi... time to japa |
Re: Dauda Lawal Testifies Against Magu by chatinent: 9:09am On Jul 27, 2020 |
Stop praying for Nigeria to be well, it actually can't. It's ruined already. 1 Like |
Re: Dauda Lawal Testifies Against Magu by Femeto: 9:10am On Jul 27, 2020 |
Magu and his boys. 1 Like |
Re: Dauda Lawal Testifies Against Magu by Sofistcatdmoron: 9:12am On Jul 27, 2020 |
Dauda lawal is from which tribe? 1 Like |
Re: Dauda Lawal Testifies Against Magu by muykem: 9:14am On Jul 27, 2020 |
That unintelligent Lawal suppose to die in prison. A bank director received $25m to his account without knowing the source. He borrowed $20m from Bank and friends. God punish the devil. 2 Likes |
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