BREAKING: Naira Gains; While DSS Still Detaining Mr Gbadamosi Who Exposed The Govt Forex Fraud.
While Nigerians are still speculating the actual reason behind the sudden appreciation of the Naira over major International currencies since February 20, 2017 and Central Bank of Nigeria (CBN) sudden change of policy, Mr Babatunde Gbadamosi, a Lagos Businessman and former governorship candidate, who exposed in details the monumental organized foreign currency fraud by the Buhari government and officials of CBN was arrested and still detained by the Department of Security Services (DSS) since February 22, 2017.

In a social media video which went viral, Mr Gbadamosi frowned at the shabby practices where those that genuinely need foreign currencies for Business are not provided with any, while the President's allies and the cronies of CBN big-wigs are receiving them at ridiculous low rates of N3/$1.

Every effort to secure Mr Gbadamosi's release has proved abortive. The DSS has ensure that no one visits or see the incarcerated voice of the Nigerian opposition in the secret detention center he was dumped six days ago and sources  close to Hope For Nigeria within the secret police headquarters in Abuja are claiming that Gbadamosi was accused of blackmailing the Central Bank of Nigeria and the Government by releasing those classified information about forex sales.

Regrettably, while Mr Babatunde Gbadamosi is languishing in DSS secret detention center for saving Nigeria from the forex mafia, Nigerians are giving the glory to the acting President Osibanjo who raised no finger in the new development where the CBN suspended forex sales to cronies and allies of President Buhari and sudden revert to the polices of the former President Goodluck Jonathan, where the Naira is protected with our external reserve.

Re-echoing the concern of Nigerians including that of the former CBN governor and the Emir of Kano, Sanusi Lamido who revealed the operation of over 20 different foreign exchange rates by the CBN and some Nigerians making billions of Naira daily from their gardens trading dollar they bought at an alarming low rates, Mr Gbadamosi demanded that these sharp practices should stop in other for the country to survive the self-induced recession.

Gbadamosi quoting various media sources in the Video, stated that the CBN was selling forex to some close allies of President Muhammadu Buhari for as low as N3 to $1 through what is called Bills of Collection. People where given Dollars with cold claims that their Form M was filled and submitted like 35 years ago but forex was not released. They cartel only has to claim that they made their importation in 1985 but forex was not released to you despite submitting duly completed Form M.

With all documents perfected, the forex will then be released at the prevailing rate in 1985. They will get $3 million at N5/ $1 and selling to end users at say N480/ $1. The said customer will be making about N1.425billion in one transaction.

He listed transactions by some individuals that got $4,327 at the rate of N23.34 to $1 through “credit card payment” for “invisible” purpose and under “invisible sector”. A bank also got $3,589.11 at the rate of N3.19 to $1 also for “invisible” purposes and under “invisible” sector.  There was a transaction involving sale of $66.72 at the rate of N0.62 to $1. There was also a sale of $5.56 to a company at the rate of N0.61 also for “invisible” purposes. A particular transaction also involved the sale of $570.8 at the rate N3.17.

In contrast, there was a company, who purchased $1,462,480.83 at the rate of N425 to $1. The document shows that individuals and companies got foreign exchange for purposes ranging from importation, PTA, school fees, “invisible”, family maintenance allowances, mortgage payments and medical travel among others.

This video lead the Attorney General of the Federation and Minister of Justice, Mr. Abubakar Malami (SAN), to query the CBN Governor,

copied from the Palmchat app (www palmchatnow.com)




cc: lalasticlala , mynd44, ishilove

I think he was blackmailed too

This sounds like a News rescue or Hope for Nigeria news

The Country called Nigeria is truly and eternally A CASE STUDY.

Selling at 3 naira to 1 dollar!
Form M since 1985?

Well. Welcome to Naija

Meanwhile, If you have Amazon and iTunes gift cards for sale..I'm interested. Check my signature to contact me

What a country. Majority are suffering, while others are enjoying. You must reap what you sow.

serverconnect:
What a country. Majority are suffering, while others are enjoying. You must reap what you sow.

Let's just keep praying for Nigeria

for real

Olu317:
The Country called Nigeria is truly and eternally A CASE STUDY.

ok

NeedGiftcards:
Well. Welcome to Naija

Meanwhile, If you have Amazon and iTunes gift cards for sale..I'm interested. Check my signature to contact me

who i still reading this

Since this govt came in it has been from one fraud to the other thanks to the man who exposed the fraud

Danny287:
Since this govt came in it has been from one fraud to the other thanks to the man who exposed the fraud

Indeed

Hello

God Bless Nigeria!

government of vegetables and rogues.....