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EFCC Officials Flood PDP Convention, Reason Unknown ~ OsazuwaAkonedo ###MuhammaduBuhari #APC #cbn #Dollar #EFCC #GodwinEmefiele #Inflation #Naira #NationalConvention #OsazuwaAkonedo #PartyPrimaries #PDP https://osazuwaakonedo.news/efcc-officials-flood-pdp-convention-reason-unknown/28/05/2022/ Officials of the Economic and Financial Crimes Commission, EFCC have flooded the venue of the ongoing Presidential primary election to elect a candidate that
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officials of the economic and financial
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crimes commission efcc have flooded the
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venue of the ongoing presidential
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primary election to elect a candidate
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that will be the flag bearer of the
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people's democratic party pdp in the
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forthcoming 2023 general election
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the motive behind the heavy present of
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the efcc officials at a party primary
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election ground is officially yet to be
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stated
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the pdp national convention holding at
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mko abiola stadium in abuja had been
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speculated to have most of the party
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delegates well bribed or lobbied with
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huge amount of dollar
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dollar is raining here the source said
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some information indicated that many of
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the delegates received up to 50 000 each
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from one of the prominent aspirants
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another information pointed out that
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some of the delegates are lodged in a
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secret hotel with fifteen thousand
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dollar given to each of them to vote for
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a particular aspirant
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osazuwa acaneto reports that nigeria is
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witnessing the worst form of economy
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under president muhammadu buhari
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following the kind of leadership
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provided by the central bank of nigeria
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governor godwin mayfield who have
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permitted money depositing banks to
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indirectly promote the use of dollar in
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nigeria
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soon after president muhammadu buhari
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came into power commercial banks placed
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an embargo on naira debit and credit
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cards
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before nigerians can use their naira
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master or visa card to purchase or pay
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for services up to one thousand dollar
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or more
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but the coming of bihari the commercial
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banks first before 2020 reduced the
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amount to 300 maximum amount
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transactions per month
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this makes the naira to fall heavily
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both in the official and the black
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market prices to the dollar the battling
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less than 200 naira to a dollar rise
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gradually increasing above 320 naira to
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a dollar
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in 2021 the commercial bank's owners and
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controllers conspired again and reduced
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the transaction limit on naira debit
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card or account to 100 maximum amount
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transactions per month
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sequel to this the naira falls higher in
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cost of living has continued to increase
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to a worsening level in nigeria
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the naira falls to almost 500 naira to a
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dollar with a slight difference both in
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the official and black market sales and
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payment
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bad as it may be before 2022 all
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commercial banks have a uniform amount
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per monthly transaction limit one can
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use his or her naira debit or credit
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card to carry out international business
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transactions but since january this year
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2022 all commercial banks at their own
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will now determine the amount one can
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transact with his or her naira debit or
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credit card internationally
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some commercial banks place 50 maximum
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per month on naira card for
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international transactions
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while most others place 20 maximum per
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month
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the bad economy strategies practiced by
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deposit money banks in nigeria as
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permitted by the cbn saw the naira
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falling so low and continuously low to
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the dollars since the beginning of this
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year
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naira has fallen to 600 naira to a
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dollar
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the bad dollar economy or fraudulent new
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pattern of business or way of making
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more profits at the detriment of others
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as practiced by commercial banks and
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permitted by the cbn directly pushed
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millions of nigeria businessmen and
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women to the black market to demand for
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dollar
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they must go to the black market to buy
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dollar to fund their domiciliary account
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which is the only means they can engage
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in international business transactions
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up to thousands of dollars per month
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this makes the dollar a product always
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on a high demand in nigeria
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businessmen and women have said that
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whenever they approach the commercial
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banks to buy dollar the banks always
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claim they don't have
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so when official purchase of dollar is
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less than 500 naira they are forced to
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buy the product at the black market at
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600 naira
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the black market the iboki's and others
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always have dollar of any amount to sell
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to us but the commercial banks will
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never sell to us a businessman who
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doesn't want his name on prince said
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president muhammadu buhari should ban
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domiciliary account
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all international business transactions
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must be done with our naira account why
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should i be in nigeria and be looking
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for another man's currency to buy before
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i can transact international business
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this should stop
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a goods or services that should cost
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just 405 naira per dollar at the
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official price will now cost 600 naira
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to a dollar as a result of going to the
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black market first
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you can see the 195 naira difference
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that's why things are very cost in
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nigeria
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because almost all the businesses in
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nigeria cannot complete their product or
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service without buying one or two things
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from abroad the source added
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