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Posts tagged ‘Bureau de Change’

Open Letter to Sanusi Lamido Sanusi By Dayo Coker.


Mr Governor,

The banks are ripping me off.

When I do an online transaction with my debit cards, these banks charge me between 164 and 166 per USD.

The same banks will convert a USD remittance from a foreign country at 159 – 161.

What does this tell you about your new policy?

Why do you allow this kind of arbitrage to permeate the financial ecosystem?

Why did you not insist that all card-based FCY payments must be converted at the official rates and not the parallel market rates?

Sometimes I wonder if you and your advisers consider the consequences of some of your policy flip-flops.

RDAS to WDAS and back to RDAS.

Or is it naivete?

A form of elitism perhaps?

Everybody in your circle seems to be a blue blood, children of aristocrats reliving the lives of their progenitors.

You are fighting a system that has been destroyed by years of systemic corruption and yet you still employ the same old boys’ network of smooth operators. The Eton-educated, glib-tongued, Saville Row suited economic hit men who continue to pillage this country like their fathers before them.

Why should a discredited banker like Bolaji Balogun have so much influence in the Sanusi era?

I alighted on an old FCY bid from 1986 and guess who signed off the letter from NAL Merchant Bank.

Atedo Peterside and Dr Shamsideen Usman.

The same old folks.

Still here.

Still running the system

I am not a dollariser.

I am just a common man.

And you are letting the banks rip me off.

The views expressed in this article are the author’s own and do not necessarily reflect the editorial policy of SaharaReporters

EFCC Arrests Bank Manager, Lagos Speaker Ikuforiji’s Personal Assistant Over N1.5bn Scam.


Lagos Speaker Adeyemi Ikuforiji
By Wilson Uwujaren-Ag. Head, Media & Publicity

A former manager with Intercontinental Bank Plc (now Access Bank), Mr. Olayinka Sanni and Personal Assistant to Adeyemi Ikuforiji,  Speaker of the Lagos State House of Assembly, Mr. Oyebode Atoyebi have been arrested by the Economic and Financial Crimes Commission, EFCC, over a case of conspiracy, stealing and forgery amounting to about N1.5billion.

Sanni, a chartered accountant and operator of SIDAW Ventures, a Bureau de Change, was alleged to have fraudulently transferred various sums of money from more than seven customers of the bank into the account of SIDAW ventures owned and operated by him without the customers’ consent.

Specifically, he transferred N65million from the account of Babington Junior Seminary; N40million from P.W. Nigeria Limited’s account; N15million from Mikano International’s account; N20million from Viju Industries Limited’s account, N306million from the account of Falana & Falana Chambers and Fafun Nigeria Limited and N1.2billion from Murhi International Limited into his SIDAW Ventures account without the consent of the account owners.

Besides, Sanni also collected the sum of $461,200 USD from one Chukwurah Nkiru, who sold it to him for the equivalent of N76, 559,200 but was not paid.

Sanni is also embroiled in a foreign exchange scam where his SIDAW Ventures account was used to handle the sum of N104, 405, 000 where only  N72,229,000 worth of foreign exchange was paid to the customer leaving a balance of N32, 185, 000 being hotly contested between his firm and the customer. Oyebode Atoyebi, Personal Assistant to Ikuforiji was also arrested for complicity and conspiracy with Sanni for allowing his passport-sized photograph and name to be used to open an account in SIDAW ventures limited in the name of Akanmu Babatunde. With this fictitious name, Sanni brokered many shady deals and duped many innocent people.

The two suspects will soon be arraigned in court.

Source: Sahara Reporters.

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